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Iconic NY Steakhouse "Gallagher's", Which Survived The Great Depression, Is Closing

Tyler Durden's picture





 

The Department of Labor's WARN (Worker Adjustment and Retraining Notification) website may have been exempt from layoff notices related to the fiscal cliff, but it still provides a sufficiently (bleak) complete picture about the real nature of layoffs and business cycle in general in America's busiest city. Which is why it was precisely using the WARN website that we learned that one of New York's most historic steakhouses, "NY's Prime Steakhouse since 1927" Gallagher's, located on 52nd street, and which survive the great depression, is shutting down on January 16. Surely neither the surging price of meat, nor the ability of patrons to spend charge $46.95 for an 18 ounce sirloin, has had any impact on the decision to close this iconic restuarant which survived the Great Depression, but failed to survive Tim Geithner's "recovery".

From WARN:

Date of Notice: 10/23/2012                                                                            

 

Control Number: 2012-0085

 

Rapid Response Specialist :  Edwidge Michel

 

Reason Stated for Filing:   Plant Closing

 

Company: Gallagher's New York Steakhouse, Inc.

228 West 52nd Street

New York, NY  10019

 

County:  New York | WIB Name: NEW YORK CITY| Region: New York City

 

Contact: Angie Michalopoulos                                                     

 

Phone:  (212) 245-5336

 

Business Type:     Restaurant

 

Number Affected:   92

 

Total Employees:    92

 

Layoff Date:  -----             

 

Closing Date:  1/16/2013 

 

Reason for Dislocation:     Economic

 

ERNUM:   -----

 

Union:  UNITE HERE Local 100   

 

Classification:   Plant Closing

Welcome to the "recovery" in which there is no inflation, unless you dare to eat, and where cash flow grow on Magic Money Trees (MMT), reaching everywhere but where it is supposed to. Oh, and where the government creates wealth. Lots and lots of wealth. And where cash cows are served medium rare.

 


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Thu, 10/25/2012 - 15:41 | Link to Comment fightthepower
fightthepower's picture

Fuck you Bernanke!

Thu, 10/25/2012 - 15:45 | Link to Comment krispkritter
krispkritter's picture

What did you expect?  The FBI busted their meat supplier:

http://www.zerohedge.com/news/2012-10-25/thursday-tragicomedy-zombie-cop-alypse-coming

Thu, 10/25/2012 - 15:49 | Link to Comment Pladizow
Pladizow's picture

Peter Luger sanctioned this wack!

Thu, 10/25/2012 - 15:54 | Link to Comment Stackers
Stackers's picture

Did Bloomberg outlaw steaks over 8oz's too ???

Thu, 10/25/2012 - 16:12 | Link to Comment CompassionateFascist
CompassionateFascist's picture

No worries. As real restaurants close down, fast food joints are booming. And the Gubmint codes burger-flipping as "manufacturing". So "manufacturing" jobs are returning to America. It's all bullish.

Thu, 10/25/2012 - 16:17 | Link to Comment economics9698
economics9698's picture

Time for price controls on food. /sarc 

Thu, 10/25/2012 - 16:36 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Mine looks just as good...

...and cost me next to nothing.

 

Thu, 10/25/2012 - 16:38 | Link to Comment Hulk
Hulk's picture

Animal on the left, stomach contents on the right! Now thats efficient HH !!!

Thu, 10/25/2012 - 17:45 | Link to Comment economics9698
economics9698's picture

A quick easy way to bypass the CPI and get a much more realistic evaluation of the inflation rate is very simple and easy to do.  Find the nominal GDP of selected year.

http://research.stlouisfed.org/fred2/graph/?s[1][id]=GDPA

1982 nominal GDP = $3.2532 trillion

Find a official CPI internet calculator, I use this one.

http://www.shadowstats.com/inflation_calculator?amount1=100&y1=1971&m1=10&y2=2011&m2=10&calc=Find+Out

Convert the 1982 GDP to today’s dollars.

2011 January GDP conversion is $7.60 trillion.

2011 actual GDP is $15.0757

Difference 1.98 times.

Its crude but effective way of cutting through the crap since I am too cheap to pay John willians to do it for me.

 

Fri, 10/26/2012 - 08:51 | Link to Comment Dalago
Dalago's picture

The yummy wealth effect.

Fri, 10/26/2012 - 12:23 | Link to Comment Shocker
Shocker's picture

Unfortunately, no Business is safe now days.

The current economic situation, and regulations is making it very difficult to really do anything

Check the list

http://www.dailyjobcuts.com

-

 

Thu, 10/25/2012 - 16:39 | Link to Comment A Lunatic
A Lunatic's picture

Yummy. Steak and vomit. My favorite. I'm guessing that's where the 46.95 comes into play...........

Thu, 10/25/2012 - 16:44 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

It is damn hard to make sautéed eggplant look good, but add in some mushrooms, onions, carrots, butter, and vermouth and it sure does taste good.

Thu, 10/25/2012 - 16:49 | Link to Comment Hulk
Hulk's picture

I figured that stuff on the right took a while to prepare and I feel bad for making light of it.

I have given myself a 5 minute time out as punishment...

Thu, 10/25/2012 - 17:01 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

...half the 10 minutes it took to cut up the veggies, get the grill and pan hot, and cook it.

Thu, 10/25/2012 - 17:02 | Link to Comment Hulk
Hulk's picture

It actually looks very good...

Thu, 10/25/2012 - 18:45 | Link to Comment The Alarmist
The Alarmist's picture

That steak looks kind of scrawny ... you should try some of that GMO stuff.

Thu, 10/25/2012 - 22:06 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

HH, what time is dinner?? you always have interesting home cooked meals. plus, i am craving (and haven't had since i was about 8 yrs old) some good old raw milk...straight from the udder.

Fri, 10/26/2012 - 00:28 | Link to Comment TruthInSunshine
TruthInSunshine's picture

If you bitchez haven't had dry aged beef from a grass fed, white face Hereford, you haven't tasted a real steak. Do it at least once; preferably the strip or porterhouse.

And yes, it's miles better than Wagyu, Kobe, Black Angus, etc., which are all heavily marketed and overrated.

Fri, 10/26/2012 - 13:49 | Link to Comment monkeyshine
monkeyshine's picture

I knew a guy who raised Texas longhorn on Kentucky bluegrass.  Always enjoyed being invited to his house (ranch) for dinner. 

Thu, 10/25/2012 - 17:25 | Link to Comment Silver Garbage Man
Silver Garbage Man's picture

Yeah but your tablecloth is ugly.

Thu, 10/25/2012 - 17:47 | Link to Comment noses
noses's picture

Definitely looking better than the "professional" results.

Thu, 10/25/2012 - 19:45 | Link to Comment Praetorian Guard
Praetorian Guard's picture

Whats up with the glass of white pus, ie White Death?

Fri, 10/26/2012 - 13:47 | Link to Comment monkeyshine
monkeyshine's picture

And I bet you didn't need a union to prepare and serve it either.  Not against unions per se, we all have freedom of association, but does a small family steak house really need unionized workers? 

Thu, 10/25/2012 - 16:32 | Link to Comment A Lunatic
A Lunatic's picture

Let them eat Big Macs..............

Thu, 10/25/2012 - 18:47 | Link to Comment The Alarmist
The Alarmist's picture

Get the Big Mac McDeal, with a Big Mac, Fries, and Drink for €4.79.

Thu, 10/25/2012 - 16:15 | Link to Comment economics9698
economics9698's picture

I bet the owners voted for Obama and are card carrying fascist supporters of redistribution.  Anyone with a Republican or Democrat voter registration card in their wallet is a fascist sympathizer.

Thu, 10/25/2012 - 15:51 | Link to Comment insanelysane
insanelysane's picture

Might want to change the name of the union to Unite There 100.

Thu, 10/25/2012 - 16:00 | Link to Comment The Wizard of Oz
The Wizard of Oz's picture

BEARISH WATERMELONS!!

Thu, 10/25/2012 - 20:07 | Link to Comment Buck Johnson
Buck Johnson's picture

People can't afford it anymore, both the customer and the restaurant.  A sign of things to come.

Thu, 10/25/2012 - 15:41 | Link to Comment Manthong
Manthong's picture

Might be a reflection of the convention busniness.

Thu, 10/25/2012 - 16:00 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

No shit.  If it weren't for the conventions, half the bars, hotels, and eateries would be KO'd in most major shitties.

Thu, 10/25/2012 - 15:42 | Link to Comment insanelysane
insanelysane's picture

Bullish as we have been told for 4 yrs that meat eating rich people are bad for the economy.  Long ramen noodles.

Thu, 10/25/2012 - 16:09 | Link to Comment SemperFord
SemperFord's picture

I go to a Taco truck not to far from me, steak burrito $3.5 an horchata for $1 and I am full, noodles just dont do that for me. Before anybody mentions roach coach, these peopele have 20 taco trucks and the food is always good and they run out of meat since they don't like to freeze it.

I can appreciate a good steak, filet mignon is execllent at "The Stinking Rose" but fuck throwing money away like that.

Thu, 10/25/2012 - 18:50 | Link to Comment The Alarmist
The Alarmist's picture

Ever stop to wonder why you don't see many dogs roaming the neighbourhoods around where these trucks are parked???

Thu, 10/25/2012 - 19:36 | Link to Comment WhiteHose
WhiteHose's picture

im a dog lover, but i still had to lmfao!

Fri, 10/26/2012 - 00:11 | Link to Comment Iwanttoknow
Iwanttoknow's picture

Good american horesense.May this country survive,somehow.

Fri, 10/26/2012 - 01:24 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

Comparing a food truck to a steakhouse is stupid.

Thu, 10/25/2012 - 15:42 | Link to Comment Big Corked Boots
Big Corked Boots's picture

On my current budget I get to choose between Pink Slime and Soylent Green.

Livin' in da car, bitchez.

Thu, 10/25/2012 - 18:52 | Link to Comment The Alarmist
The Alarmist's picture

Pink slime any day of the week ... soylent green is people, and that just ain't right!

Better living through chemistry ... Brought to you by Monsanto.

Thu, 10/25/2012 - 15:42 | Link to Comment becky quick and...
becky quick and her beautiful mouth's picture

why is everything an even priced number except for meat and seafood? that's retarded. if they rounded it all up a nickel, they could have stayed open.

Thu, 10/25/2012 - 15:47 | Link to Comment azzhatter
azzhatter's picture

don't worry Becky, Warren can still afford beef

Thu, 10/25/2012 - 15:54 | Link to Comment JPM Hater001
JPM Hater001's picture

Um, I dont think a nickle fixes much of anything in NY.

Thu, 10/25/2012 - 16:01 | Link to Comment ziggy59
ziggy59's picture

Well, Nickels are worth more than 5 cents which is a hell of a lot more than paper dollars

Thu, 10/25/2012 - 15:43 | Link to Comment slaughterer
slaughterer's picture

Loved that place.  

Thu, 10/25/2012 - 15:50 | Link to Comment icanhasbailout
icanhasbailout's picture

Gallaghers is, or I guess was, one of the best steakhouses ever. Top quality everything, very classy, and given what you got for it the prices were pretty reasonable.

 

I guess people who are supposedly doing well aren't really doing all that well.

Thu, 10/25/2012 - 15:54 | Link to Comment zuuma
zuuma's picture

Well played, UNITE HERE Local 100.

Well played.

Thu, 10/25/2012 - 16:45 | Link to Comment Randall Cabot
Randall Cabot's picture

They never should have dropped Porterhouse steaks from the menu

Thu, 10/25/2012 - 18:29 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

Right. Who has a steakhouse where a sirloin is the top cut? I want meat on the bone!

Fri, 10/26/2012 - 01:25 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

Dude, you're not wrong there.  The Palm dropped the porterhouse....THE PALM!!!

Thu, 10/25/2012 - 15:44 | Link to Comment RmcAZ
RmcAZ's picture

$10 for French Fries?

Thu, 10/25/2012 - 15:55 | Link to Comment JPM Hater001
JPM Hater001's picture

Yeah but they are mad with real French.

Thu, 10/25/2012 - 16:00 | Link to Comment I think I need ...
I think I need to buy a gun's picture

In New York City aren't a pack of smokes 15 dollars?

Thu, 10/25/2012 - 16:00 | Link to Comment I think I need ...
I think I need to buy a gun's picture

In New York City aren't a pack of smokes 15 dollars?

Thu, 10/25/2012 - 15:44 | Link to Comment kato
kato's picture

it was time. no big deal. this one is closing too, time was up:

http://www.spiegel.de/international/germany/legendary-restaurant-where-l...

Thu, 10/25/2012 - 15:54 | Link to Comment insanelysane
Thu, 10/25/2012 - 15:48 | Link to Comment knukles
knukles's picture

OMG no.....
One of the Best Ever Classic places....

How about a TARP, here?
Solyndra loan?
Free FED funds (term loan, infinity)?

 

Bad juju

 

(watchu expect when the only people can afford them anymore are the politicians.... Where's my SNAP card?)

Thu, 10/25/2012 - 15:45 | Link to Comment GolfHatesMe
GolfHatesMe's picture

All of the Savers born in the great depression are also closing for economic reasons

Thu, 10/25/2012 - 16:43 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

I think that generation has mostly passed on but your point is good

Pinched savers seen as part of slow recovery puzzle

http://www.reuters.com/article/2012/10/25/us-usa-fed-savers-idUSBRE89O08420121025

Dimon: Absolute Guarantee Bond Vigilantes Will Attack U.S.

Fri, 10/26/2012 - 10:11 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Fuck your worthless links.

Reuters and Jamie Dimon? LOL.

Thu, 10/25/2012 - 16:02 | Link to Comment Bam_Man
Bam_Man's picture

I guess the market for $150+/pp steak dinners (when you include sides, dessert, drinks & tip) in NYC ain't what it used to be. When you're charging $10 for an order of fries and $12 for a side of broccoli and can't stay in business, something is definitely wrong. 

Thu, 10/25/2012 - 16:53 | Link to Comment OpenEyes
OpenEyes's picture

I live about 10 blocks from Gallagher's and have eaten there a number of times over the years.  Assuming that there weren't any bad management issues I think their real problem came from new competition.  There are at least a half dozen really good steakhouses within 8 blocks of Gallagher's that are all a bit 'hipper' with updated interiors and a clientelle that averages about 20 years younger.  

Thu, 10/25/2012 - 15:49 | Link to Comment azzhatter
azzhatter's picture

I didn't see Spam on the menu. That's my gourmet now.  Fuck You Bernanke

Thu, 10/25/2012 - 20:50 | Link to Comment willwork4food
willwork4food's picture

Seriously. My average is Alpo. Thank God for QE3+.

Thu, 10/25/2012 - 15:49 | Link to Comment Lost Wages
Lost Wages's picture

I had Five Guys for lunch and I'M STILL STARVING! I could use a steak.

Thu, 10/25/2012 - 15:50 | Link to Comment Al Huxley
Al Huxley's picture

Maybe you should be eating fatter guys.

Thu, 10/25/2012 - 15:51 | Link to Comment Lost Wages
Lost Wages's picture

To my credit, I did not order fries. I'm not a millionaire!

Thu, 10/25/2012 - 22:08 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

hell, with them, just pay for 1 fry and they will fill the bag....

Thu, 10/25/2012 - 15:53 | Link to Comment Lost Wages
Lost Wages's picture

P.S. I went in there right when they opened and they were filling a web order for about 100 burgers. So that is where all Gallagher's business went.

Thu, 10/25/2012 - 15:51 | Link to Comment icanhasbailout
icanhasbailout's picture

you need to consume more than just the sauce

Thu, 10/25/2012 - 15:52 | Link to Comment Fox-Scully
Fox-Scully's picture

They could have made a fortune on the Main Lobster since there is such an overabundance of them.  Charge a reasonable price (certainly not market price) and pocket the difference.

Fri, 10/26/2012 - 01:27 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

What's a 'Main Lobster'?

 

Is that like a "Leetercola"?

 

Thu, 10/25/2012 - 15:54 | Link to Comment mr1963
mr1963's picture

Soon to be a McDonald's I'm sure...

Thu, 10/25/2012 - 15:54 | Link to Comment LouisDega
LouisDega's picture

What, No pancakes?

Thu, 10/25/2012 - 15:57 | Link to Comment Dr. Engali
Dr. Engali's picture

That steak looks good, and made me hungry. I think I'll go home and slap a nice slab of venison on the grill for dinner.

Thu, 10/25/2012 - 16:25 | Link to Comment Big Corked Boots
Big Corked Boots's picture

Mmmm! Jersey Bushmeat!

Fri, 10/26/2012 - 14:14 | Link to Comment RallyRoundTheFamily
RallyRoundTheFamily's picture

We have been wrapping the venison steaks w/ bacon before grilling...wow

They can keep the $46 sirloin, although I want to get some hickory logs now.

Thu, 10/25/2012 - 15:58 | Link to Comment fonzannoon
fonzannoon's picture

Those restaurants killed it in the late 90's when wholesalers for shitbag mutual fund companies could piss money away taking kids out and teaching them how to sell their dirty mutual funds. That crash in 2001/2002 wiped those companies off the map. The Pharma's cut their budgets soon after too, so their reps could not drop a few grand there with some doctors who would then pimp their product. That was the beginning of the end for those restaurants. I am surprised the high end noodie bars aren't biting it for the same reason.

Thu, 10/25/2012 - 16:08 | Link to Comment Heyoka Bianco
Heyoka Bianco's picture

Still plenty or pro athletes and douchebag traders to keep the titty bars afloat.

Thu, 10/25/2012 - 15:57 | Link to Comment IridiumRebel
IridiumRebel's picture

I guess survivng two depressions was too much. 

Thu, 10/25/2012 - 16:25 | Link to Comment Frank N. Beans
Frank N. Beans's picture

appreciate the sentiment, but in this case they only survived the first depression

Thu, 10/25/2012 - 16:00 | Link to Comment Clowns on Acid
Clowns on Acid's picture

After NYC sales tax it's $55 for a steak, plus another 10 for veggies.

See tickets for Neil Young at new Barclay Center in Crooklyn - $525.

See tickets for Andrea Boticelli @ Barclay Center in Crooklyn - $1100.

Must be thinking it's 2007 all over again.

Thu, 10/25/2012 - 16:04 | Link to Comment IridiumRebel
IridiumRebel's picture

Surviving the "soft spot" that is actually a fucking depression? Priceless. 

MSM lies....they are everywhere you do NOT want to be.

Thu, 10/25/2012 - 16:01 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

" all I know is the Dow is still above 13,000..."

Dennis Kneale, Fox Business News

 

FUCK YOU BERNANKE AND ALL UR COCKSUKER BANKER BRETHREN........ 

Thu, 10/25/2012 - 16:10 | Link to Comment LouisDega
LouisDega's picture

Dennis Kneale... Slowly i turn, Step by step, Inch by inch..

Thu, 10/25/2012 - 16:03 | Link to Comment solgundy
solgundy's picture

screw them, they didn't build that, the government allowed it....BHO wins again

Thu, 10/25/2012 - 16:04 | Link to Comment astoriajoe
astoriajoe's picture

at least its not Gallagher's 2000.

Thu, 10/25/2012 - 16:05 | Link to Comment virgilcaine
virgilcaine's picture

Ben Benson's also closed recently.

Thu, 10/25/2012 - 16:06 | Link to Comment CrimsonAvenger
CrimsonAvenger's picture

Why is there a horse pictured on the menu? Did Mr. Ed eat there? Or was he eaten there?

Thu, 10/25/2012 - 16:09 | Link to Comment irie1029
irie1029's picture

one of the tasty items.

Thu, 10/25/2012 - 16:26 | Link to Comment sdmjake
sdmjake's picture

That horse is "Allez Milord" :  winner of the Hirsch Stakes Turf Championship in 1987, ridden by Chris McCarron, trained by John Gosden, and owned by Gallagher Farm.

Thu, 10/25/2012 - 16:13 | Link to Comment djsmps
djsmps's picture

I've eaten at that restaurant more than any other in NYC. I used to frequently stay at the Novotel next door so it was real convenient. Since their meat proportions were so big, they always let us split a steak. When I was there, the filet was $29.95, so I guess times have changed. They certainly had some of the surliest waiters in New York. And real roquefort cheese dressing. I'm sorry to see them close.

Thu, 10/25/2012 - 16:08 | Link to Comment dynomutt
dynomutt's picture

Damn, now I'll have to wait behind more riff-raff at Keens.

 

http://www.keens.com/OurMenus/Dinner/

Thu, 10/25/2012 - 16:18 | Link to Comment Frank N. Beans
Frank N. Beans's picture

well i hope little timmy and his banker friends eat here and feel REALLY guilty about how they got their favorite eatin' place closed

Thu, 10/25/2012 - 16:36 | Link to Comment A Lunatic
A Lunatic's picture

They do not eat steak, they feed off the blood of American citizens and wash it down with the dreams of children.

Thu, 10/25/2012 - 20:57 | Link to Comment willwork4food
willwork4food's picture

Couldn't have said it better if I was awarded an American History PhD.

Thu, 10/25/2012 - 16:23 | Link to Comment giorgioorwell
giorgioorwell's picture

Come on Tyler, you're getting lazy.  There are plenty of signs to point to indicating the real nature of our recovery, but this ain't one of them. To anyone that actually knows NYC this place would have gone down recovery or no recovery...it's a dinosaur "old school" steak house that lost it's shine and good food many years ago. 

Barely registers 2 and a half stars on yelp

http://www.yelp.com/biz/gallaghers-steak-house-new-york 

If this isn't "creative destruction", I don't know is...

Thu, 10/25/2012 - 17:27 | Link to Comment Randall Cabot
Randall Cabot's picture

It's only the one in NY that's closing, they're still open in Vegas and AC and some other places.

Thu, 10/25/2012 - 18:39 | Link to Comment Big Corked Boots
Big Corked Boots's picture

Your average AC patron thinks Subway is upscale.

Thu, 10/25/2012 - 16:28 | Link to Comment Mad Mohel
Mad Mohel's picture

I bet they would still be open if you could wash that big fuckin slab of meat down with an extra large cool beverage.

Thu, 10/25/2012 - 16:34 | Link to Comment Azwethinkweiz
Azwethinkweiz's picture

Place an "EBT accepted here" sign out front and watch the bread line form.

Thu, 10/25/2012 - 16:37 | Link to Comment Uber Vandal
Uber Vandal's picture

There are two local mom and pop style restaurants that I visit infrequently, and the last time I was at either, I was the only person there.

I spoke to the wait staff about how things are going, and they mentioned that they are barely staying above water, and are not able to raise their prices any further in spite of input costs rising.

What is sad is how my meal of steak and eggs did not cost much more than local fast food places did. Quite often, when its my turn to get food for the crew, the bill for a fast food place is equal to or more than when my friends and I go to a sit down type restaurant.

I have a feeling that by this time next year, we will look back at this time as the good old days.

Thu, 10/25/2012 - 16:40 | Link to Comment Marley
Marley's picture

Just an innocent question.  If it's Tim Geithner's "recovery", who depression is it?

Thu, 10/25/2012 - 16:44 | Link to Comment FishHockers
FishHockers's picture

Anybody have Gallaghers recipe for their Mustard sauce and Rice Pudding.

Thu, 10/25/2012 - 17:23 | Link to Comment Papasmurf
Papasmurf's picture

Contact Martha Stewart for that info.

Thu, 10/25/2012 - 16:46 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

Cheese cake and coffee..... $15!  Holy moly!  How'd they make it 95 years?

Thu, 10/25/2012 - 17:01 | Link to Comment giggler123
giggler123's picture

18 Oz sirloin??  You fat, greedy gits

Thu, 10/25/2012 - 17:02 | Link to Comment krispkritter
krispkritter's picture

Just curious...they seem to have a bunch of celebrity pics surrounding the menu. One assumes they dined there but one of them happens to be a horse.  You have to wonder how they provided seating or whether the horse was a Main Course, of course...

Thu, 10/25/2012 - 22:10 | Link to Comment Cathartes Aura
Cathartes Aura's picture

Go right to the source
And ask the horse
He'll give you the answer that you'll endorse
He's always on a steady course

Thu, 10/25/2012 - 17:02 | Link to Comment Seasmoke
Seasmoke's picture

does this also include Newark airport ????....because nothing i like better than a $60 steak, right before i board a plane

Thu, 10/25/2012 - 17:02 | Link to Comment Mortimer
Mortimer's picture

TURN THOSE MACHINES BACK ON!

Thu, 10/25/2012 - 17:05 | Link to Comment Jack Sheet
Jack Sheet's picture

Obummahcare did them.

Thu, 10/25/2012 - 18:03 | Link to Comment Zero Govt
Zero Govt's picture

another State enforced extortion racket for bloated Jabba the Hut Insurance Companies

Thu, 10/25/2012 - 17:20 | Link to Comment Thisson
Thisson's picture

I'm sure they served great steaks, but the commentators are correct: nobody's willing to pay those prices out of their own pocket.  Expense account, sure, but those have been slashed like crazy.  People who can genuinely afford to pay these prices out of pocket want to go somewhere trendy and chic, like Per Se, Gordon Ramsey at the Hotel London, Le Bernadin, Danielle, etc.

Thu, 10/25/2012 - 17:21 | Link to Comment rockraider3
rockraider3's picture

What about serving those new yummy ipads?

 

Thu, 10/25/2012 - 17:44 | Link to Comment NuYawkFrankie
NuYawkFrankie's picture

Sob... sniffle... sob...... Old New York is fading away....

Thu, 10/25/2012 - 17:47 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

Fuck you Little Weasel timmy g.

You too benny b.

Thu, 10/25/2012 - 18:00 | Link to Comment Zero Govt
Zero Govt's picture

"...close this iconic restuarant which survived the Great Depression, but failed to survive Tim Geithner's recovery."

a question for Jeff Immelt, Bummas jobs czar ...how's he doing, 46 million food stamps and counting?

Thu, 10/25/2012 - 18:06 | Link to Comment miker
miker's picture

Lots and lots of businesses have been squeaking by over the last few years.  Eventually they just say fuck it and throw in the towel.  This will continue in spades.  There are so many bullshit businesses out there.  Even restaurants way over built.  It will get so bad that most of this eating out shit will die.  And of course, people will get a lot healthier when they have to cook at home on a tight budget.  Goodbye potato chips, hello beans and rice.

Thu, 10/25/2012 - 18:23 | Link to Comment NuYawkFrankie
NuYawkFrankie's picture

Shoulda been: Iconic NY Scumbag GOLDMAN - which caused the Greatest Depression - is closing....

Thu, 10/25/2012 - 18:23 | Link to Comment Watts_D_Matter
Watts_D_Matter's picture

Are those marks on the steaks from the grill?  Or was it from the jockey?

Thu, 10/25/2012 - 18:57 | Link to Comment abgary1
abgary1's picture

Anyone who could afford to eat there retired in the Caymans.

Even the financial assholes of New York have moved their money into gold.

They weren't smart enough to keep money around for lunch by the looks of things.

Thu, 10/25/2012 - 19:15 | Link to Comment Gmpx
Gmpx's picture

Come on. They likely close because people with some money start thinking of what they eat. Stake is bad for your health.

Thu, 10/25/2012 - 19:43 | Link to Comment Marley
Marley's picture

"Stake is bad for your health"

Most money sucking people are concerned about their health, especually a stake through the heart while asleep. :)

Thu, 10/25/2012 - 19:16 | Link to Comment kito
kito's picture

ben bensons closed as well................30 years.....

 

http://ny.eater.com/archives/2012/05/midtown_steakhouse_ben_bensons_to_close_next_month.php

Thu, 10/25/2012 - 20:53 | Link to Comment Youri Carma
Thu, 10/25/2012 - 20:55 | Link to Comment Cosimo de Medici
Cosimo de Medici's picture

As a few others have noted, this is probably restaurant specific and not a reflection of some Depression hitting Manhattan.  Gallaghers just got stale in a town where fads can last minutes rather than decades.  Indeed, considering who the prime beneficiaries of QE are, and where most hang.......their hats, it shouldn't be surprising that many NYC eateries are kicking butt and taking names (for future reservations, if one is "lucky").  The pot of gold at the end of Bernanke's rainbow is NYC.

Consider Del Posto, Mario Batali's JV with the Bastianich family on 10th Ave (yes, 10th Ave).  Fixed Price menu (which includes table-shared pasta course) is $115 per person before the various add-on taxes and charges, and the median wine price is about $400 per bottle.  Date night out for two, with one of the cheaper selections from the wine list is going to approach $600 with tip.  The place is filled every night.

It's a select group benefitting from QE, but it's a large enough group to fill a lot of restaurant seats.

Thu, 10/25/2012 - 21:56 | Link to Comment 401-Kulak
401-Kulak's picture

How can you have a top shelf steakhouse without a porterhouse on the menu?

Thu, 10/25/2012 - 23:58 | Link to Comment dunce
dunce's picture

When those democrat union workers unemployment runs out, will they want a job at a chick-fil-a.

Fri, 10/26/2012 - 02:10 | Link to Comment dadoody
dadoody's picture

Looking at yelp....doesn't look like the economy is completely to blame. 

 

Looks like crappy food and service at high prices killed it for them.

Fri, 10/26/2012 - 12:54 | Link to Comment Atlantis Consigliore
Atlantis Consigliore's picture

BOYCOTT NY EXCHANGES BANKS; bankrupt them,  send a message to Fraud Street and thieves stold SEG Funds.

 

Fri, 10/26/2012 - 13:34 | Link to Comment Iambic PentaMaster
Iambic PentaMaster's picture

More deadly and depressing than the Great Depression and President Peanut's Malaise, The Global Obama Depression continues to claim victims.

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