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Massive Wall Street Bonuses Trickle Down To Area Steakhouses

The Daily News does its best to reassure everyone that those obscenely large Wall Street bonuses will trickle down to a diverse collection of steak purveyors and golf retailers:

The extraordinarily huge bonuses being paid across Wall Street won’t just benefit top investment bankers and traders — the entire city will enjoy a payday.

A day after Goldman Sachs revealed it would be paying their staff $16.5 billion in bonuses, the Daily News visited businesses across the city to gauge the effect of the spend, spend, spend mentality.

“The only time I saw something like [this] was in the 1980s, when the world was insane,” said BMW of Manhattan President Jeff Falk.

. . .

“You can feel it when things are going well down here,” said Sean O’Sullivan, who sells golf equipment in lower Manhattan at The World of Golf. “Guys are traveling and playing a lot of golf.”

While customers can get a full set of clubs for as little as $300, O’Sullivan, 41, of Manhattan, has customers willing to pay $3,500 for top of the line clubs from Callaway, Ping or TaylorMade.

. . .

Mona Vijolan, 27, of Glendale, Queens, tends bar at Nebraska Beef, a Stone St. steakhouse in the shadow of the Goldman Sachs building. Lately, brokers haven’t blinked at the $63 price when ordering “The Stockbroker,” a hunk of aged prime rib served with a half-pound lobster tail.

“This is the month for bonuses and when the market’s been good, our customers are even more generous than usual,” said Vijolan, who’s married and has a 4-year-old daughter. “This year has been great,” she said, adding that $100 tips are commonplace.

(What, no Scores angle?)

Posted: December 14th, 2006 | Filed under: Class War
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