4 stars **** and closing

2,938
11
Joined Mar 4, 2000
That is sad. I'm sure that all 32 of their talented staff will spread their talent elsewhere, though, and the city will be blessed with an equally great restaurant one day.
 
3,853
12
Joined May 26, 2001
What I mean is:

There are very few owners who INTEND TO run a restaurant as a not-for-profit. Even those places that are meant to be money-losers for tax purposes are eventually considered too much of a drain (think All-Star Cafe). A restaurant is a business. A place like Lespinasse may have been an artist's workshop, but it was also supposed to be a business. Especially in these days of lower occupancy, the hotel simply could not afford to continue to subsidize it.

I agree with Momoreg that while it's sad, the people who work there will surely be snapped up. And the industry may be better overall for it.
 

kuan

Moderator
Staff member
7,107
542
Joined Jun 11, 2001
I cannot believe the tax "gains" a restaurant makes when it loses money is better than money in pocket from net gains. Nobody in their right mind would decline a higher paying job because they had to pay more in taxes. You always net out better.

Kuan
 
5,192
296
Joined Jul 28, 2001
Taxable write-offs are really becoming a thing of the past except for the larger monopolies(corps), and they are even paying a little closer attention if those losses cut into their large3 bonuses.. A tax write off is beneficial to offset abnormal profits. I have to laugh when people tell me "oh! that's a write-off for you"
When a company goes public and uninformed investors throw monies at a business, then these types of operations are no risk except to the loyal employees.
 
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