| The past few years, there have been many new | | | | confidence will wane requiring either a reduction in |
| restaurants opening up in the Denver area. Even in | | | | prices from vendors or the ultimate loss of business. |
| an excellent economy, there just is not enough room | | | | Those people further down the ladder just will not be |
| for every one to make a go of it. Something had to | | | | able to justify such expenditures and the restaurants |
| give eventually. Now, major employers are lining up | | | | relying on that business just to stay in business will |
| for government handouts like hobos at a soup kitchen, | | | | need to adjust their prices or face losing everything. It |
| layoffs are piling up as fast as overdue bills, and | | | | seems simple and straightforward, but, before the rash |
| everywhere we look, the signs say things will get | | | | of foreclosures, numerous layoffs, and the reality of |
| worse before they get better. Usually in times like | | | | recession, people actually believed they were living |
| these, the first things to go are the indulgences, the | | | | within their means. The truth of reality often sneaks |
| luxuries and the special treats, like dining out, at least | | | | up on us when we are least expecting. |
| for us working stiffs. How will the slowing economy | | | | As for the people who rely on tips to make financial |
| affect dining out? | | | | ends meet, at least for now, they seem to be holding |
| A first impulse is to believe that prices will come down | | | | on to the status quo. A check of the internet and |
| as clientele diminishes. In fact, a few restaurants, like | | | | comments from American diners shows that most |
| Cucina Roma Roma, already reduced prices to help | | | | diners are still indulging and holding to the practice of |
| their loyal customers, but do not expect that kind of | | | | tipping the same way they did before the tanking |
| wholesale change right away. History shows this | | | | economy. Many are sticking to the 20% tip baseline |
| type of response to be the exception rather than the | | | | that has not changed in decades, others still resent the |
| norm. Even during the Great Depression, those who | | | | practice altogether, and a few are so bold as to |
| had money to begin with felt little need to change | | | | comment, “If you can’t afford to tip, you |
| exorbitant spending habits, and, just the other day, | | | | can’t afford to dine out”. That last comments |
| American automobile manufactures climbed aboard | | | | raises the most worry for tipped employees and the |
| individual, private jets to fly to Washington to plead for | | | | restaurant industry. More and more consumers may |
| financial help from the government. Even fearing | | | | arrive at that financial crossroads and just decide to |
| bankruptcy, they were not willing to part with their | | | | stay home. Right now, however, it is just too early to |
| private jets. Given that evidence along with what we | | | | tell anything for sure except that change is coming. |
| know of American greed, it becomes difficult to | | | | The greater the quantity of companies going under, the |
| believe that the nation’s CEOs are not already | | | | longer the recession persists, and the number of |
| strapping on their Golden Parachutes, organizing their | | | | discretionary dollars available to consumers will |
| financial pillows, and readying themselves for | | | | eventually affect the level of confidence in the |
| retirement surrounded by the splendor that marked | | | | economy and will affect us all. Sure, this information |
| their corporate lives even as the people who helped | | | | is about as prophetic as J.P. Morgan’s answer |
| them there, their workers, prepare for uncertain | | | | when queried about what he thought the Stock |
| futures. The ultra rich and the establishments they | | | | Market would do. He replied, “It will fluctuate”. |
| patronize will probably continue regular business no | | | | As silly and obvious as it seems, that is the bottom |
| matter what happens to the economy. | | | | line. It could all turn around tomorrow, or it could |
| For the rest of us, and if history is any indication, the | | | | persist for years. Right now, it is just too early to tell, |
| economy will affect the price of dining out as much as | | | | and too early to panic, but it is never too early to think |
| confidence affects the Stock Market. The longer the | | | | about one’s own future and to prepare for the |
| downturn persists, the more people of lesser means | | | | crisis we hope never arrives. |
| will feel the pressure, and the more consumer | | | | |