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Times Like These

2008_08_rubiconsmall.jpgPoggio's porchetta nights and Fifth Floor's Honor Bar get some national press in a WSJ article about the ways in which the restaurant industry has adjusted to the economic meltdown. Even more sobering is the 2009 forecast: "Over the past 10 years, the total number of restaurants in the U.S. -- which is currently 570,000, according to an estimate from Technomic -- grew by 1% to 2% annually. This year, 12,000 to 18,000 restaurants are expected to close, sending the net total down by 2% to 3%." Also notable is a reminder from Drew Nieporent that, in 14 years operating Rubicon, he never made a profit. [WSJ]

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