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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 | 2919422 fightthepower
fightthepower's picture

Fuck you Bernanke!

Thu, 10/25/2012 - 15:45 | 2919441 krispkritter
krispkritter's picture

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

Thu, 10/25/2012 - 15:49 | 2919452 Pladizow
Pladizow's picture

Peter Luger sanctioned this wack!

Thu, 10/25/2012 - 15:54 | 2919467 Stackers
Stackers's picture

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

Thu, 10/25/2012 - 16:12 | 2919529 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 | 2919545 economics9698
economics9698's picture

Time for price controls on food. /sarc 

Thu, 10/25/2012 - 16:36 | 2919620 hedgeless_horseman
hedgeless_horseman's picture



Mine looks just as good...

...and cost me next to nothing.


Thu, 10/25/2012 - 16:38 | 2919632 Hulk
Hulk's picture

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

Thu, 10/25/2012 - 17:45 | 2919924 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.[1][id]=GDPA

1982 nominal GDP = $3.2532 trillion

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

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 | 2921066 Dalago
Dalago's picture

The yummy wealth effect.

Fri, 10/26/2012 - 12:23 | 2921863 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



Thu, 10/25/2012 - 16:39 | 2919635 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 | 2919664 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 | 2919694 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 | 2919766 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 | 2919788 Hulk
Hulk's picture

It actually looks very good...

Thu, 10/25/2012 - 18:45 | 2920065 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 | 2920465 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 | 2920640 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 | 2922163 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 | 2919873 Silver Garbage Man
Silver Garbage Man's picture

Yeah but your tablecloth is ugly.

Thu, 10/25/2012 - 17:47 | 2919942 noses
noses's picture

Definitely looking better than the "professional" results.

Thu, 10/25/2012 - 19:45 | 2920193 Praetorian Guard
Praetorian Guard's picture

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

Fri, 10/26/2012 - 13:47 | 2922154 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 | 2919605 A Lunatic
A Lunatic's picture

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

Thu, 10/25/2012 - 18:47 | 2920068 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 | 2919541 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 | 2919459 insanelysane
insanelysane's picture

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

Thu, 10/25/2012 - 16:00 | 2919488 The Wizard of Oz
The Wizard of Oz's picture


Thu, 10/25/2012 - 20:07 | 2920238 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 | 2919425 Manthong
Manthong's picture

Might be a reflection of the convention busniness.

Thu, 10/25/2012 - 16:00 | 2919486 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 | 2919427 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 | 2919522 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 | 2920076 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 | 2920171 WhiteHose
WhiteHose's picture

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

Fri, 10/26/2012 - 00:11 | 2920649 Iwanttoknow
Iwanttoknow's picture

Good american horesense.May this country survive,somehow.

Fri, 10/26/2012 - 01:24 | 2920734 Raymond K Hessel
Raymond K Hessel's picture

Comparing a food truck to a steakhouse is stupid.

Thu, 10/25/2012 - 15:42 | 2919428 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 | 2920083 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 | 2919431 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 | 2919445 azzhatter
azzhatter's picture

don't worry Becky, Warren can still afford beef

Thu, 10/25/2012 - 15:54 | 2919472 JPM Hater001
JPM Hater001's picture

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

Thu, 10/25/2012 - 16:01 | 2919490 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 | 2919433 slaughterer
slaughterer's picture

Loved that place.  

Thu, 10/25/2012 - 15:50 | 2919456 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 | 2919473 zuuma
zuuma's picture

Well played, UNITE HERE Local 100.

Well played.

Thu, 10/25/2012 - 16:45 | 2919674 Randall Cabot
Randall Cabot's picture

They never should have dropped Porterhouse steaks from the menu

Thu, 10/25/2012 - 18:29 | 2920038 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 | 2920736 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 | 2919436 RmcAZ
RmcAZ's picture

$10 for French Fries?

Thu, 10/25/2012 - 15:55 | 2919475 JPM Hater001
JPM Hater001's picture

Yeah but they are mad with real French.

Thu, 10/25/2012 - 16:00 | 2919484 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 | 2919485 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 | 2919437 kato
kato's picture

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

Thu, 10/25/2012 - 15:54 | 2919466 insanelysane
Thu, 10/25/2012 - 15:48 | 2919438 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 | 2919439 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 | 2919662 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

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

Fri, 10/26/2012 - 10:11 | 2920675 Bay of Pigs
Bay of Pigs's picture

Fuck your worthless links.

Reuters and Jamie Dimon? LOL.

Thu, 10/25/2012 - 16:02 | 2919442 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 | 2919716 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 | 2919451 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 | 2920315 willwork4food
willwork4food's picture

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

Thu, 10/25/2012 - 15:49 | 2919453 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 | 2919455 Al Huxley
Al Huxley's picture

Maybe you should be eating fatter guys.

Thu, 10/25/2012 - 15:51 | 2919458 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 | 2920470 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 | 2919465 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 | 2919457 icanhasbailout
icanhasbailout's picture

you need to consume more than just the sauce

Thu, 10/25/2012 - 15:52 | 2919460 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 | 2920738 Raymond K Hessel
Raymond K Hessel's picture

What's a 'Main Lobster'?


Is that like a "Leetercola"?


Thu, 10/25/2012 - 15:54 | 2919468 mr1963
mr1963's picture

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

Thu, 10/25/2012 - 15:54 | 2919471 LouisDega
LouisDega's picture

What, No pancakes?

Thu, 10/25/2012 - 15:57 | 2919477 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 | 2919578 Big Corked Boots
Big Corked Boots's picture

Mmmm! Jersey Bushmeat!

Fri, 10/26/2012 - 14:14 | 2922239 RallyRoundTheFamily
RallyRoundTheFamily's picture

We have been wrapping the venison steaks w/ bacon before

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

Thu, 10/25/2012 - 15:58 | 2919478 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 | 2919517 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 | 2919479 IridiumRebel
IridiumRebel's picture

I guess survivng two depressions was too much. 

Thu, 10/25/2012 - 16:25 | 2919580 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 | 2919487 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 | 2919501 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 | 2919491 Kaiser Sousa
Kaiser Sousa's picture

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

Dennis Kneale, Fox Business News



Thu, 10/25/2012 - 16:10 | 2919506 LouisDega
LouisDega's picture

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

Thu, 10/25/2012 - 16:03 | 2919500 solgundy
solgundy's picture

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

Thu, 10/25/2012 - 16:04 | 2919502 astoriajoe
astoriajoe's picture

at least its not Gallagher's 2000.

Thu, 10/25/2012 - 16:05 | 2919504 virgilcaine
virgilcaine's picture

Ben Benson's also closed recently.

Thu, 10/25/2012 - 16:06 | 2919509 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 | 2919521 irie1029
irie1029's picture

one of the tasty items.

Thu, 10/25/2012 - 16:26 | 2919583 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 | 2919516 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 | 2919519 dynomutt
dynomutt's picture

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

Thu, 10/25/2012 - 16:18 | 2919551 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 | 2919622 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 | 2920333 willwork4food
willwork4food's picture

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

Thu, 10/25/2012 - 16:23 | 2919572 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'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 

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

Thu, 10/25/2012 - 17:27 | 2919884 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 | 2920054 Big Corked Boots
Big Corked Boots's picture

Your average AC patron thinks Subway is upscale.

Thu, 10/25/2012 - 16:28 | 2919590 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 | 2919609 Azwethinkweiz
Azwethinkweiz's picture

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

Thu, 10/25/2012 - 16:37 | 2919616 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 | 2919649 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 | 2919667 FishHockers
FishHockers's picture

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

Thu, 10/25/2012 - 17:23 | 2919868 Papasmurf
Papasmurf's picture

Contact Martha Stewart for that info.

Thu, 10/25/2012 - 16:46 | 2919679 SmoothCoolSmoke
SmoothCoolSmoke's picture

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

Thu, 10/25/2012 - 17:01 | 2919780 giggler123
giggler123's picture

18 Oz sirloin??  You fat, greedy gits

Thu, 10/25/2012 - 17:02 | 2919782 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 | 2920471 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 | 2919783 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 | 2919787 Mortimer
Mortimer's picture


Thu, 10/25/2012 - 17:05 | 2919796 Jack Sheet
Jack Sheet's picture

Obummahcare did them.

Thu, 10/25/2012 - 18:03 | 2919967 Zero Govt
Zero Govt's picture

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

Thu, 10/25/2012 - 17:20 | 2919860 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 | 2919862 rockraider3
rockraider3's picture

What about serving those new yummy ipads?


Thu, 10/25/2012 - 17:44 | 2919874 NuYawkFrankie
NuYawkFrankie's picture

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

Thu, 10/25/2012 - 17:47 | 2919944 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 | 2919948 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's he doing, 46 million food stamps and counting?

Thu, 10/25/2012 - 18:06 | 2919974 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 | 2919976 NuYawkFrankie
NuYawkFrankie's picture

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

Thu, 10/25/2012 - 18:23 | 2920025 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 | 2920096 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 | 2920131 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 | 2920184 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 | 2920132 kito
kito's picture

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

Thu, 10/25/2012 - 20:53 | 2920325 Youri Carma
Thu, 10/25/2012 - 20:55 | 2920329 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 | 2920446 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 | 2920633 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 | 2920770 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 | 2921939 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 | 2922108 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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