Why Restaurant Openings?

Here is my precious comment on SFoodie post.  Foodie does not like me and publish one of three comments I post.  That is the definition of a second class publication.

I have to put my two-cents in: Last year was pre-election and normal until the stock market started to go to hell (going up till sep 2008???). I remember what my Schwab account looked like in Nov 2008. That is when it started to happen and anyone who follows politics can tell you all this economic up-and-down is designed for the elections. Remember when Bush won? That January everything crashed: stock market, tech market, etc. Clintons set Bush (and Republicans) up good. This election had lots of pressure to relieve Bush and the crash of 2008 was the pulling of the carpet from under Bush's feet. The economy is still bad but 1. consumers do not know jack and follow the general mood of the economy and 2. restaurateurs do not know jack either and would open restaurants even if it was the beginning of WW3

By John Birdsall in Buzz Machine
Thursday, May. 14 2009 @ 5:01PM

azie_rest.jpg
Azie was one of 2009's early casualties

Many assumed that 2009 would shape up as the year of the restaurant closure in San Francisco, and there have been notable failures: Azie, Bong Su, Jack Falstaff. But the large-scale collapse you might be expecting if you read the business pages hasn't occured, at least not yet. At the same time, with some half a dozen restaurant openings in the past week alone, the mood in restaurant circles is hardly bleak. What's going on here?

The director of the Golden Gate Restaurant Association told SFoodie that the situation in the past six months has been about the strangest he's seen – starting with last fall's precipitous drop. "Overall, the restaurants did really, really well last year," said Kevin Westlye. Until the end of September 2008, SF eateries were seeing gains of 3 to 6 percent over the previous year. But by the last quarter of 2008, most restaurants lost those gains, plus another 4 to 10 percent. "Most just fell off a cliff."

http://blogs.sfweekly.com/foodie/2009/05/if_2009_is_the_year_of_the_res.php

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