Caterers: Bellwether of New York Prosperity

Now that the country is officially in the midst of a recession, the public has been looking for indicators of how bad things are--or how much worse they'll get. The right bellwether may be the special events industry. According to the cover story in this week's New York magazine, catering companies are the "near-perfect barometer of the city's mood and its spending power. Entertaining is part of New York's essence, the marrow in its bones. The question isn't whether to party, even in trying times, only how lavishly." The article goes on to explain the plight of one couple's catering business (only their first names were given), which was based in TriBeCa and has suffered financially since the attacks on September 11.

Posted 12.05.01

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