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Posts with tag dining out

Incredible shrinking restaurant portions, and other sneaky tricks

Filed under: Bargains, Food, Ripoffs and Scams, Recession

Dining out in New York is often a heady experience -- especially when you get the check. You can't stop going back for more, however, because it's just too convenient, and fun, and part of the joy of living in a big city. But after reading about how some high-end eateries are coping with the economic downturn in the New York Times, I'm starting to get inclined to just stay home and cook my own over-priced food.

The Times talks to restaurant owners who are finding ways to stretch a buck, mostly by serving cheaper ingredients and smaller portions. At fancy places, that means smaller lobsters at some exorbitant price and hanger steak instead of strip steaks. Some places are offering early bird specials and bar specials. Some are considering no-show fees. Like airlines that keep tacking on fees for things that used to be free, that's probably going to be the last straw for casual diners. Freelance writer Carol Vinzant covered 10 restaurant tricks, for WalletPop back in May.

Coping With the Economy

    As economic troubles keep diners at home, restaurants are starting to cut back on portion sizes and are using cheaper ingredients -- even high-end hot spots. In New York, restaurant owners admit to shrinking lobsters, subbing shiitake mushrooms for morels and offering discount appetizers.

    Larry Crowe, AP

    To combat high food prices, many shoppers are turning to bulk purchases, which is driving up sales of stand-alone freezers. A new study shows that sales were up 7 percent in the first six months of the year.

    M. Spencer Green, AP

    Soaring prices for scrap metal may make demolition derbies a thing of the past. Owners who used to sell their worn-out wheels for $50 to $100 are turning to scrap dealers instead, getting nearly triple the price.

    Al Fenn, Time Life Pictures / Getty Images

    Cities are cracking down on people who steal from recycling bins, but the practice is getting so widespread that some weekly newspaper publishers going further and hiring private detectives and setting up stakeouts to catch poachers in the act.

    Paul Sakuma, AP

    With foreclosures at an all time high, homeless is rising sharply. One study says that 54 percent of foreclosure victims list moving into emergency shelters as one of their plans. More details.

    Mario Tama, Getty Images

    Swearing by strategies like coasting with their engines off, filling their tires to dangerous capacity and suffering in the summer heat instead of cranking up the A/C, "hypermilers" obsessively coax dozens more miles out of each gallon. More details.

    David McNew, Getty Images

    Joshua Persky, left, an unemployed financial engineer, took to the streets of New York wearing a sign saying "MIT Graduate for Hire" More details.

    Mark Lennihan, AP

    Philadelphia Sheriff John D. Green took the mortgage mess into his own hands this spring when he refused to hold a court-ordered foreclosure auction to try to give homeowners more time to work out a deal with their lenders.

    Philadelphia Sheriffs Department

    Michigan's Oakland County and New York's Suffolk County may join many companies across the country that are considering four-day workweeks for employees to try to cut gas costs.

    Ted S. Warren, AP

    There may be a lot more kids around in your neighborhood this summer as families seem to be cutting back on sending kids to camp, or will be sending them for shorter stays. Many private camps are reporting drops in enrollment, while non-profit camps are reporting little growth.

    Jim Cole, AP

Tough times if you wait tables

Filed under: Food

Tighter economic conditions are giving waitstaff a double whammy. Not only are food and gas prices rising rapidly, many who work in restaurants are earning less than they used to.

As consumers become more thrifty and eat out less, this hits waitstaff right in the pocketbooks. And when diners do show up, they're often likely to order less (decreasing their bill and therefore the tip if they do a percentage) and some even tip a lower percentage than usual.

Check out this video for some insights on just how much this can hurt restaurant employees:



Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

Are Americans finally getting smart about eating out?

Filed under: Food, Health

The latest numbers from the restaurant industry suggest that Americans aren't eating out as much. One research company says that dinner traffic fell by 2% in 2007. It seems that most restaurant chains are reporting declines in traffic.

Ruby Tuesday reports almost an 11% drop in same store sales for the fourth quarter. Starbucks is planning to close 100 under-performing stores. McDonald's reports almost no growth in same-store sales last year.

Maybe American are finally "getting it" when it comes to eating out. Quite simply, eating at restaurants is expensive, easily costing three to four times more than eating at home. And maybe even more importantly, much of the food at restaurants is not nutritious. Constant dining out can wreak havoc on our insides.

With everyone complaining about how poor the economy is, I'm actually glad to see Americans eating out less often. It's not good for the restaurant industry, but it's a wonderful thing for family budgets and healthy eating!

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

Offbeat eateries -- Dinner in the Sky

Filed under: Entrepreneurship, Extracurriculars, Food

Tired of the same old Applebee's and Cracker Barrel fare? Well, fortunately, you're living in the 21st century, where choice reigns. We've pulled together some suggestions for places that offer novel dining experiences.

Ever clean up after a dinner only to discover the floor covered with crumbs? Wish you could avoid that hassle? Then Dinner in the Sky might be for you.

European entrepenuer David Ghysels offers dining at a table suspended by crane 150 feet in the air. Twenty-two people can be seated around the table, with a wait staff of three in the center preparing and serving food and drink. Since the crane and table are portable, the dinner location is anywhere the vehicles can reach. Suppose you want to suspend your ineffectual sales team over a smoldering volcano...

The company that operates the restaurant can also provide a second platform on a crane, so you can have a band accompanying your dinner, or a CFO with his PowerPoint presentation, well out of roll-tossing range. The restaurant has served clients all over Europe and is planning to expand internationally.

While the rig rents for eight-hour segments, this does not seem to include a potty in the sky, so diners might be well advised to wear their best astronaut gear. And if you drop your napkin? Forget it.

Dine out and save big bucks

Filed under: Bargains, Extracurriculars, Food

Eat. Drink. Save money. That's restaurant.com's slogan and it sounds good to me. After all, who wouldn't like to save money on restaurant bills?

For $10, you can purchase a $25 certificate at any of the 8,000 participating restaurants nationwide. You can also choose a $10 certificate for $3, or a $50 certificate for $20. Be careful not to inadvertently log onto restaurants.com, an online dining directory. You're looking for the "restaurant" singular.

There are minimum purchases at most restaurants, but I didn't see any over $35. When I searched my zip code for local eateries, few came up that I recognized. But one of my favorite lunch spots, Riina's Fresco Café in Greenwich, CT with good panini and salads, is on the list. I bought a $10 gift certificate for $3 and it's valid with a $25 purchase. And they guarantee the certificate even if you show up and the restaurant has gone out of business. The website also links to restaurants' web sites and you can make a reservation online.