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Old 07-31-2008, 11:54 AM   #11
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Did anyone read the article yesterday in the Wall Street Journal about Metromedia Restaurant Group filing for bankruptcy and immediately, overnight, closing around 200 restaurants, laying off about 9,200 people? The restaurants were Bennigan's and Steak and Ales. More closings are expected.

And Geebs talking about an $800 fuel oil bill.

It seems to me we are in uncharted territory with rising costs and an uncertain job market.

I understand 200 restaurants is a small number. Am I crazy for thinking this is unsettleing?
We used to frequent a Steak and Ale in an adjoining town. They really went downhill in the past 4-5 years. They revamped the menu a couple years ao, but it still wasn't anything to write home about. About the only thing good there was the salad bar and sweet bread. We think they married a Stoli bottle with some other off the wall vodka at one point, too.
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Old 07-31-2008, 12:12 PM   #12
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I think that may be the good result of this, if there is a good result. In the end, the better and more worthwhile entertainments, be it restaurants, travel, motels, or other, will survive, and the mediocre and worse will die. That is the market system, and it always works if it is left alone.
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Old 07-31-2008, 12:25 PM   #13
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We have cut back on many things. Dining out is seldom, heat managed, didn't turn on the sprinklers this year (didn't need to as it turns out), making more price friendly meals. Between the cost of oil, food, my health insurance our income just can't keep up and live like we were. Add to that the cost of college and a wedding in Oct. I even gave up pedicures!! And that's a joke so please don't jump all over me!

I did read that restaurants that service the middle class are having trouble but alas there is much more to come.
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Old 07-31-2008, 12:34 PM   #14
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Bennigan's and Steak and Ale's closed around here years ago - I seriously didn't even know there were anymore Steak and Ale's open.

I agree Beth - uncharted territory. We have been used to "having" for a very long time and everyone is now going to have to live a different way. That's not necessarily a bad thing either - - - just new to us.
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Old 07-31-2008, 01:13 PM   #15
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Don't worry about it....Enjoy your day, your week-end, and next week too! These are the good ole days!!! We must enjoy them while we may!!

Have Fun & Enjoy!
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Old 07-31-2008, 01:17 PM   #16
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It's gone way past 'unsettling'. It's disturbing to the point of fear for one's future.
I said several months ago that the high end restaurants could last a bit longer than the types of restaurants that cater to the middle class. High end can survive because the upper class hasn't really been effected by the recession overmuch.
It's only a matter of time before the street vendors are gone, too...
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Old 07-31-2008, 01:33 PM   #17
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things are unsettling right now but we are still way better off than a lot of places. Think Sudan, Iraq, Ethiopia, Haiti for example. I just read in the paper today that in Zimbabwe, . We may be in for some changes but I think we can handle them.
Comparing the United States of America to Ethiopia or Haiti with regards to finance is like comparing a Great White to a guppy. America has been a land of opportunity and endless supply since birth. Suggesting we find solace in not having blight and famine and disease when we are accustomed to the cup overfloweth will bring little peace. We have been 'the world power'.... With all due respect, the countries you mentioned have never been stable places, financially.

Some people are handling the changes by stealing manhole covers from city streets to sell as scrap metal. A 1 ton bronze statue of a horse was stolen from a local racetrack, cut down and sold for scrap metal. That's how some people are 'handling' it. Depression is being documented in record numbers. Spousal abuse has shown a slight increase. Health maintenance appointments are cancelled because the co-pay is unaffordable.

Yes, America is resillient and will recover, but handling it isn't the issue. Policies have to be implemented.
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Old 07-31-2008, 01:35 PM   #18
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hmmmm... manhole covers......
How many pounds of steak you think I can get for one of those??
And I thought I was getting desperate by selling my baby stuff rather than donating it this time....
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Old 07-31-2008, 02:37 PM   #19
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Supposedly Bennigans and Staek and Ale closed because of the parent company's exceptionally poor management. So I think suzie raises a good point.
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Old 07-31-2008, 03:09 PM   #20
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Most businesses fail because of bad management or bad ideas. We haven't had a Bennigans or Steak and Ale around here that I know of in a while. I think that mediocre anything gets a closer look when the economy tightens up. There are others that are going to have problems. IMO, Starbucks, is one, maybe Ruths Cris. Admittedly biased since I don't like either one. Circuit City is near gone. This one is most decidedly because of management and ideas.
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