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I’ve sent an email to my economic professor at Penn. He is on the board of the Federal Reserve here in NYC, asking for his advice on modeling my business and current position with regards to the market in the near term. He responded that he just completed two straight weeks (7days) of 18-20 hour days and would get back to me tomorrow.
I have already witnessed the impact on the service industry. We are responding by lying off 1/3 of the staff, changing the menu from a la carte to a Prix Fixe. Right now the model shows $ 27 at break even with the menu change. It will be interesting to see how he evaluates my consideration and if we will survive this downturn.
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