Rather terrifying experience tonite.

[snot]

Went to a fave restaurant in TX. TX is supposedly doing, expected to do better than most of the country thru the current crisis. This restaurant has been there forever, a great place of a type Texans love, run by good people, great steak for v. reasonable prices. The restaurant normally does great business; and I'd expect them to be doing well this week, with relatives in town who need to be fed reasonably well.

It was totally dead. We've been going there for years; never seen it like this. Few patrons; less staff -- getting served etc. took forever. This place has been there forever; but seeing it tonite, I wonder how much longer it will last.

A friend there with us told us a friend of his with a local wine distributor'd said that across the board, restaurants in the area had seen a massive drop in business.

[Manifestor_of_Light]

1. The TX economy is not necessarily good.

There are still people in restaurants but they are not busy.

I don't see the restaurants with packed waiting rooms on Friday or Saturday night anymore in Houston.

[sazemisery]

2. Same here in Oklahoma

Restaurants are feeling the pinch.

[murielm99]

3. I think restaurants feel it first.

There is a nice little restaurant in my community that has started closing early. They no longer serve past lunch. I like this family, and hope they do not lose everything.

I have been going to another place in town when my husband goes to work early. He is a printer and works at night. The place has been dead no matter what night I go there. This family was smart enough to buy the pizza place next door to them. The pizza business still gets enough traffic to keep them solvent.

[Chulanowa]

4. Economic downturn + Days after holidays = people staying home

Be worried if it's still like that after January 4th.

[Citizen Number 9]

16. You're right. January has traditionally been

a tough month for restaurants.

Some I know take the slow month(s) as an opportunity to shutdown every season so staff can vacation.

[Festivito]

5. Michigan went down first because we did not use the April 2004 money

created by the major banks.

Now it's your turn because that fake source of money you lived on for four years IS GONE.

Welcome to the new world order.

[AnneD]

17. I have noticed a slacking of business in Houston......

for 2 years. It has been gradual but it is major problem.

No offense Festivo, I really gage our local economy future by the number of Michigan tags I see on my way to work. The more I see-the sooner we head to the crapper. I remember we were swamped in the 80's with Michigan refugees and our economy went to shit shortly after ( the S&L and RE debacle just like today's banking and mortgage crisis).

We haven't hit the skids yet like some other spots because so many of us remember the 80's. Folks have been more conservative. As a result, we have a cushion in our city and state budgets. Ike and a few other unexpected expenses will strain us but we are headed into this in better shape than most .

[shrike]

6. Two went down in my area yesterday

They were little stores: Quizno's, and a hot dog place. I think the mom-and-pop's, individually owned, they'll get the hit first.

[Citizen Number 9]

8. Quiznos go up and down all the time;

that's the franchise shell game.

Mom and Pop, seeing that their dreams of becoming Hot Dog Royalty are not likely in the next few years may want to go and work for wages, which makes for a better life.

[shrike]

9. Actually, the wealthy people I know got that way by building up a business

and then selling it. That's why some of them use the term "wage slave."

That said, opening your own business is too much of a crapshoot for most people.

[Citizen Number 9]

11. Exactly.

Although one can become rich from working for someone else, providing they can keep from gratuitously spending everything they make.

Normally, I am a proponent of entrepreneurial ventures, but the next few years look much bleaker than normal.

Nevertheless, I am sure some will take the risk and succeed.

[Citizen Number 9]

7. For the time being, people are still eating out

but they are going to those other restaurants - the likes of McDonalds, places they sell Kingburgers and teriyaki joints.

This represents a shift from buying the $12.95 meal to the $5.95 meal.

Unemployed actors who wait tables may or may not be pleased to hear that entertainment does better in recessions and depressions.

[Warpy]

10. Good restaurants always get clobbered

Back in the Depression, a few fine eateries in big cities did OK, the ones with the gold plated reputations and clientele to match.

The only places that did well across the board were the greasy spoons, the good food in massive quantity sold cheap to working people with little money.

Next up will be places like nail salons.

[Citizen Number 9]

12. What's your take on how

the doggie-washing places will fare?

[Warpy]

14. Depends on the neighborhood

Wealthy clients and people with jobs who work long hours will still need to have Fido washed while they run other errands.

The rest of us proles will dump him into the bathtub when we can't stand him any more.

[Citizen Number 9]

15. We don't really have neighborhoods

in small towns and rural communities. And if there is any of that at all then the retail outlets aren't co-located anyway.

Doggie-wash places are generally U-wash, although they do offer service as well.

[.... callchet ....]

13. Depression

What does it take to get everybody to understand that we are headed for the worst economic depression ever. The poor and the working poor have no

money to spend. That is what makes the economy work. Stocks, bonds, cd's, hedge funds, derivatives, all take advantage of the economy. They do

nothing to help.

If you start a business and never go public and never sell stock you never miss anything. Oops except for the chance to make it big and send the

country down the tubes.