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Iconic NY Steakhouse "Gallagher's", Which Survived The Great Depression, Is Closing
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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Fuck you Bernanke!
What did you expect? The FBI busted their meat supplier:
http://www.zerohedge.com/news/2012-10-25/thursday-tragicomedy-zombie-cop-alypse-coming
Peter Luger sanctioned this wack!
Did Bloomberg outlaw steaks over 8oz's too ???
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.
Time for price controls on food. /sarc
Mine looks just as good...
...and cost me next to nothing.
Animal on the left, stomach contents on the right! Now thats efficient HH !!!
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.
The yummy wealth effect.
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
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Yummy. Steak and vomit. My favorite. I'm guessing that's where the 46.95 comes into play...........
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.
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...
...half the 10 minutes it took to cut up the veggies, get the grill and pan hot, and cook it.
It actually looks very good...
That steak looks kind of scrawny ... you should try some of that GMO stuff.
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.
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.
I knew a guy who raised Texas longhorn on Kentucky bluegrass. Always enjoyed being invited to his house (ranch) for dinner.
Yeah but your tablecloth is ugly.
Definitely looking better than the "professional" results.
Whats up with the glass of white pus, ie White Death?
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?
Let them eat Big Macs..............
Get the Big Mac McDeal, with a Big Mac, Fries, and Drink for €4.79.
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.
Might want to change the name of the union to Unite There 100.
BEARISH WATERMELONS!!
People can't afford it anymore, both the customer and the restaurant. A sign of things to come.
Might be a reflection of the convention busniness.
No shit. If it weren't for the conventions, half the bars, hotels, and eateries would be KO'd in most major shitties.
Bullish as we have been told for 4 yrs that meat eating rich people are bad for the economy. Long ramen noodles.
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.
Ever stop to wonder why you don't see many dogs roaming the neighbourhoods around where these trucks are parked???
im a dog lover, but i still had to lmfao!
Good american horesense.May this country survive,somehow.
Comparing a food truck to a steakhouse is stupid.
On my current budget I get to choose between Pink Slime and Soylent Green.
Livin' in da car, bitchez.
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.
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.
don't worry Becky, Warren can still afford beef
Um, I dont think a nickle fixes much of anything in NY.
Well, Nickels are worth more than 5 cents which is a hell of a lot more than paper dollars
Loved that place.
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.
Well played, UNITE HERE Local 100.
Well played.
They never should have dropped Porterhouse steaks from the menu
Right. Who has a steakhouse where a sirloin is the top cut? I want meat on the bone!
Dude, you're not wrong there. The Palm dropped the porterhouse....THE PALM!!!
$10 for French Fries?
Yeah but they are mad with real French.
In New York City aren't a pack of smokes 15 dollars?
In New York City aren't a pack of smokes 15 dollars?
it was time. no big deal. this one is closing too, time was up:
http://www.spiegel.de/international/germany/legendary-restaurant-where-l...
and this one but I don't see a pattern.
http://www.boston.com/metrodesk/2012/10/22/lockeober/HuXxX8XMA7RQcVhhLvb5AM/story.html
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?)
All of the Savers born in the great depression are also closing for economic reasons
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.
Fuck your worthless links.
Reuters and Jamie Dimon? LOL.
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.
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.
I didn't see Spam on the menu. That's my gourmet now. Fuck You Bernanke
Seriously. My average is Alpo. Thank God for QE3+.
I had Five Guys for lunch and I'M STILL STARVING! I could use a steak.
Maybe you should be eating fatter guys.
To my credit, I did not order fries. I'm not a millionaire!
hell, with them, just pay for 1 fry and they will fill the bag....
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.
you need to consume more than just the sauce
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.
What's a 'Main Lobster'?
Is that like a "Leetercola"?
Soon to be a McDonald's I'm sure...
What, No pancakes?
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.
Mmmm! Jersey Bushmeat!
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.
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.
Still plenty or pro athletes and douchebag traders to keep the titty bars afloat.
I guess survivng two depressions was too much.
appreciate the sentiment, but in this case they only survived the first depression
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.
Surviving the "soft spot" that is actually a fucking depression? Priceless.
MSM lies....they are everywhere you do NOT want to be.
" 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........
Dennis Kneale... Slowly i turn, Step by step, Inch by inch..
screw them, they didn't build that, the government allowed it....BHO wins again
at least its not Gallagher's 2000.
Ben Benson's also closed recently.
Why is there a horse pictured on the menu? Did Mr. Ed eat there? Or was he eaten there?
one of the tasty items.
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.
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.
Damn, now I'll have to wait behind more riff-raff at Keens.
http://www.keens.com/OurMenus/Dinner/
well i hope little timmy and his banker friends eat here and feel REALLY guilty about how they got their favorite eatin' place closed
They do not eat steak, they feed off the blood of American citizens and wash it down with the dreams of children.
Couldn't have said it better if I was awarded an American History PhD.
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...
It's only the one in NY that's closing, they're still open in Vegas and AC and some other places.
Your average AC patron thinks Subway is upscale.
I bet they would still be open if you could wash that big fuckin slab of meat down with an extra large cool beverage.
Place an "EBT accepted here" sign out front and watch the bread line form.
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.
Just an innocent question. If it's Tim Geithner's "recovery", who depression is it?
Anybody have Gallaghers recipe for their Mustard sauce and Rice Pudding.
Contact Martha Stewart for that info.
Cheese cake and coffee..... $15! Holy moly! How'd they make it 95 years?
18 Oz sirloin?? You fat, greedy gits
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...
does this also include Newark airport ????....because nothing i like better than a $60 steak, right before i board a plane
TURN THOSE MACHINES BACK ON!
Obummahcare did them.
another State enforced extortion racket for bloated Jabba the Hut Insurance Companies
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.
What about serving those new yummy ipads?
Sob... sniffle... sob...... Old New York is fading away....
Fuck you Little Weasel timmy g.
You too benny b.
"...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?
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.
Shoulda been: Iconic NY Scumbag GOLDMAN - which caused the Greatest Depression - is closing....
Are those marks on the steaks from the grill? Or was it from the jockey?
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.
Come on. They likely close because people with some money start thinking of what they eat. Stake is bad for your health.
"Stake is bad for your health"
Most money sucking people are concerned about their health, especually a stake through the heart while asleep. :)
ben bensons closed as well................30 years.....
http://ny.eater.com/archives/2012/05/midtown_steakhouse_ben_bensons_to_close_next_month.php
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.
How can you have a top shelf steakhouse without a porterhouse on the menu?
When those democrat union workers unemployment runs out, will they want a job at a chick-fil-a.
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.
BOYCOTT NY EXCHANGES BANKS; bankrupt them, send a message to Fraud Street and thieves stold SEG Funds.
More deadly and depressing than the Great Depression and President Peanut's Malaise, The Global Obama Depression continues to claim victims.