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Wall Street elite crawls into the bottle

Here's a recipe for good decisions on the morning after. Financial Times:

At the 21 Club, a longtime redoubt of corporate chieftains and big names, alcohol sales are up 9 per cent from last year, and businessmen can be seen drinking $14-a-glass cocktails as early as 3pm on a weekday.

“Where people used to have one vodka on the rocks, now it’s a second one or maybe a third,” says Roger Rice, the floor manager. “I don’t know what to attribute it to. Maybe it’s the last year of the expense account.”

[Steve Millington, general manager at Michael’s, the restaurant of choice for publishing and media executives] reports that alcohol sales are up a fifth from last year.

Times are good at Delmonico’s, the 181-year-old fine dining restaurant, says Dennis Turcinovic, managing partner. “Alcohol sales?.?.?.?help a lot, they’re about 15 per cent up this year. The bar’s busy all day. I’ve had to hire extra barmaids.”

Have one for me, guys! And see what the bears in the back room will have!a

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herb the verb's picture
Submitted by herb the verb on

"alcohol sales are up a fifth"

Har.

Salmo's picture
Submitted by Salmo on

I doubt that it is celebratory, but rather cautionary socialization going on. If I had to bet on the content of the conversations around those getting cocktails early and often, I would wager that the drinkers are trying to reinforce their networks to bridge or guard against their career difficulties. This is not unique to Wall Street bars; it's one of the principal functions of country clubs.