– Iconic NY Steakhouse “Gallagher’s”, Which Survived The Great Depression, Is Closing (ZeroHedge, Oct 25, 2012):
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“.
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
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.