Branching Out: Former Banks = Cool Stores

The New York Times: “Former bank branches have been reincarnated as pizza parlors, fast-food outlets, health care sites, massage chains, credit unions, educational institutions, churches and mobile phone stores. Some serve as locations for Starbucks, CityMD Urgent Care, CVS and other chains.”

“Attributes that were attractive to banks in the first place are now selling points for the converted properties. Many occupy corner locations on busy streets with heavy retail traffic. The buildings are often free-standing and well maintained, with sturdy brick construction. Depending on municipal zoning restrictions, canopied drive-throughs can be converted to other uses, such as fast-food pickup, side entrances or patios.”

“Part of an Apple Bank in Manhattan was converted to condos in 2006, and CVS moved into at least two banks in New York with high ceilings and marble columns … In the small tourist community of Lake Tomahawk, Wis., Tina Rydzik saw a marketing opportunity after she found it impossible to remove the vault from a former bank she took over and converted into a pizza house. She christened the enterprise Pizza Vault, and named nearly all the entrees after famous bank robbers.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Canada Dry: A Promise Uprooted

The Washington Post: “Julie Fletcher filed a federal lawsuit against the owners of Canada Dry ginger ale alleging the beverage does not contain ginger, the Buffalo News reports. Canada Dry’s listed ingredients are carbonated water, high fructose corn syrup, citric acid, sodium benzoate, natural flavors and caramel colors … It’s not the first lawsuit to hold the ginger ale company to task for its ingredient list.”

“Law 360 reported that a similar suit in Missouri against Dr Pepper Snapple Group Inc., which produces Canada Dry, was dismissed in June. In that suit, lab tests revealed that the beverage did not contain ginger. But the company argued that ginger is used to make the ‘natural flavoring’ in the drink and contested the methodology of the lab test.”

“As for Fletcher, the Buffalo News says that one factor in her confusion about the product was a 2011 commercial where a hunky ‘ginger farmer’ pulled a root out of the ground — and was pulled up through a woman’s cooler of Canada Dry. Which, to clear up any confusion for future litigation, is physically impossible.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail

16 Handles: Frozen Yogurt Gone Wild

The Wall Street Journal: “At the New York-based frozen-yogurt chain 16 Handles, the main draw has always been the self-serve aspect: Customers are free to mix and match flavors and toppings at will, paying a per-ounce price, varying by store, for their creations. But this summer, patrons at the 10-year-old chain’s East Village location may be surprised to find a soft-serve machine positioned behind the counter. It is reserved for a special new line of frozen treats, dubbed Sugalips, that employees are charged with making.”

“Included in the offerings: an outer space-inspired Galaxy Cone, priced at $8.95, that combines frozen yogurt, cotton candy and rock candy, a colorful dessert designed with the food-on-social-media era in mind … it comes as 16 Handles has seen its same-store sales decline in each of the past three years, following an initial period of consistent growth.”

“For starters, the concept of self-serve frozen yogurt is no longer seen as novel. But even more important: Frozen yogurt isn’t the trendy dessert it once was. Artisan ice-cream companies, offering a wave of creative and even vegan flavors, are commanding increased attention. So, too, are makers of multicultural frozen treats, such as Thai-style rolled ice cream … While such changes might help bring frozen-yogurt chains a broader clientele, experts warn there is a risk of alienating the regular customer base if a company goes too far.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Late & Great: Jonathan Gold

The New York Times: “In more than a thousand reviews published since the 1980s, Jonathan Gold chronicled his city’s pupuserias, bistros, diners, nomadic taco trucks, soot-caked outdoor rib and brisket smokers, sweaty indoor xiao long bao steamers, postmodern pizzerias, vintage delicatessens, strictly omakase sushi-yas, Roman gelaterias, Korean porridge parlors, Lanzhou hand-pulled noodle vendors, Iranian tongue-sandwich shops, vegan hot dog griddles, cloistered French-leaning hyper-seasonal tasting counters and wood-paneled Hollywood grills with chicken potpie and martinis on every other table.”

“Unlike some critics, Mr. Gold never saw expensive, rarefied restaurants as the peak of the terrain he surveyed, although he reviewed his share of them. Shiki Beverly Hills, Noma and Alinea all took turns under his critical loupe. He was in his element, though, when he championed small, family-run establishments where publicists and wine lists were unheard-of and English was often a second language, if it was spoken at all.”

He explained: “I’m not a cultural anthropologist. I write about taco stands and fancy French restaurants to try to get people less afraid of their neighbors and to live in their entire city instead of sticking to their one part of town.” Jonathan Gold was 57.

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Bowl Food: Comfort in Troubled Times?

The Wall Street Journal: “A good rule for modern eating seems to be: When in doubt, put it in a bowl. Gone are the days when bowls were used only for soup or cereal. These days, we put all manner of things in bowls that once had no place there, from poached eggs to smoothies. Even Prince Harry and Megan Markle chose to offer breakfast food to guests at their wedding in bowls rather than on plates … Capacious bowls feel like the right container for the Asian-oriented dishes that many of us now prefer, not to mention pasta.”

“A ‘wellness bowl,’ also known as a Buddha bowl, reassures the eater that they have all their nutritional bases covered. The ingredients are all visible, one after another, like bullet points on a to-do list: tofu, green vegetables, quinoa, some kind of obscure seeds … Our abandonment of plates for bowls suggests that we are reverting to the simpler times of one-pot cookery, liberating ourselves once and for all from fork anxiety. Today, the thing that we are most short of in the kitchen is not necessarily money but time. Sales of bowls have climbed in tandem with the rise of the Instant Pot and the pressure cooker, time-saving gadgets that produce tasty dishes too sloppy for a plate.”

“Both bowls and spoons have always been associated with children; spoons are the most benign utensils, lacking the sharp edges of a knife or the spikes of a fork. It is from a bowl that most of us take our first gummy mouthfuls of solid food. The rise of the bowl in our lives suggests that many eaters are in a permanently fragile state, treating every meal as comfort food. In a world of alarming news, maybe we all need something to cradle.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail

America’s Most Exciting Bank

The Wall Street Journal: “To Michael Daly, who runs Berkshire Hills Bancorp Inc., BHLB -1.22% banking is too often blasé. So Mr. Daly has adapted an unconventional rulebook meant to energize and empower his 1,900 employees. Suits are not allowed. Rock music must be played at every meeting. And ziplines are an acceptable form of transportation: Mr. Daly once arrived at an employee town hall on one, slinging $100 bills to the crowd below … In an industry built on numbers, Mr. Daly believes in emotions and that employees who feel good will do good work. He started calling his company ‘America’s Most Exciting Bank’ years ago, because workers told him they wanted jobs they enjoyed.”

“Since he became chief executive in 2002, the bank has grown to $11.5 billion in assets as of the first quarter, from about $1 billion. During acquisitions and their accompanying job cuts, Mr. Daly hands out his cellphone number freely and encourages employees whose jobs are on the line to ‘come get in my face.’ The ones that do call often prove worth keeping. ‘You would be shocked at how many high performers we find through that,’ he says.”

“Mr. Daly often hires from outside the banking industry, valuing scrappiness over pedigree. He likes to tell the story of two customers that he struck up a conversation with at a branch in Albany, N.Y. He liked their energy, and hired them away from the clothing store where they worked to do customer service for the bank … For all his swagger, Mr. Daly also likes to play the part of a small-town banker. He said he sends a couple hundred handwritten notes to employees every month, and replies to just as many employee emails.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Slow Sizzle: Raising The Peak Steak

The Wall Street Journal: “There are cows that eat only grass and roam free. There are Kobe cattle, whose muscles are massaged for months to tenderize the meat they eventually produce. And then there are José Gordon’s oxen. An animal lucky enough to be part of the restaurateur/rancher’s herd in northwestern Spain gets to laze about in mountain pastures redolent of thyme and other fragrant herbs. It is stroked with metal brushes. It might even get a pedicure … the cattle in Mr. Gordon’s herd are allowed to live for years, sometimes close to their life spans of nearly two decades, before being turned into steaks for his restaurant.”

“Mr. Gordon, proprietor of Bodega El Capricho in Spain’s Castille-Leon region, believes he knows when an animal in his herd has finally reached its peak condition and is ready for the abattoir. He decides this by the look and feel of the animal. It’s a matter of instinct, Mr. Gordon says. A few weeks too long or too short can mean less-than-perfect meat … The current king of Mr. Gordon’s herd is 16-year-old Divino, a majestic animal of 3,700 pounds, nearly triple the weight at which most beef cattle go to market. Mr. Gordon has nicknamed him El gran jefe—the big boss—for his haughty manner.”

“Such care doesn’t come cheap. Mr. Gordon estimates each animal costs nearly $3,000 a year, in a combination of its feed, hoof care and vet bills, which is at least twice the cost of traditional ranching. A steer like Divino, who will probably go to slaughter this year, will have cost more than $30,000 to raise. Mr. Gordon says he breaks even on most animals, charging €120 a kilo (about $63.50 a pound) for a premium chuleta steak that he says is more delicate than regular beef … Mr. Gordon admits he loses money with some of the animals he keeps longest.” He comments: “I believe that what I do is mystical, magical. It goes beyond profitability. This is my work and my world. I would never change it.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Stout Sells Out: How Big Beer ‘Goosed’ Sales

The Wall Street Journal: “The popular image of the brewing industry is of a war between Craft and Big Beer. It’s small, independently owned breweries facing off against multi-billion-dollar corporations hawking bland-tasting beer with outsize control over the global market. These terms are useful for drawing battle lines in the beer world, but as Josh Noel explains in ‘Barrel-Aged Stout and Selling Out,’ the reality is slightly more complicated … Mr. Noel’s book recounts the rise of Chicago-based Goose Island Brewery, a vanguard name in craft brewing that was purchased in 2011 by Anheuser-Busch InBev, the biggest and baddest beer maker on the planet.”

Goose Island was founded in 1988 by John Hall, a box-company executive with a taste for European beers … Big Beer could not afford to ignore upstarts like Goose. Anheuser responded to the craft-beer boom by developing its own artisanal styles and buying stakes in a number of small breweries. But the threat to Big Beer seemingly abated when craft’s swift advance suddenly skidded to a halt … That downturn was one factor that led it to agree, in 2006, to the sale of a large minority stake—to a brewing company partially owned by Anheuser.”

“Goose sales spiked 60% within a year. In 2004 Goose had produced 50,000 barrels of beer; in 2011 that number had tripled. But its success became its own obstacle: Goose couldn’t brew enough beer to meet insatiable demand. So it ‘sold out’—agreeing in March 2011 to a 100% sale to Anheuser for $38.8 million … There’s a contradiction at play in the relationship between craft beer and big business. On the one hand, as Mr. Noel spells out, craft won the war by forcing the world’s largest brewer to change. On the other, it lost by being commandeered by that very same company.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Walmart Engages in Retail Politics

The Wall Street Journal: “Political divide in the country is creating a new landscape for business, in which fierce debates often lead consumers and employees to demand that corporations and chief executives take positions on big issues. That is increasingly pulling Walmart, the world’s largest retailer and largest private employer, into weighing in on issues such as immigration, the Confederate flag and gay rights—generally after other companies or politicians have done the same.”

“Under its 51-year-old chief executive, Doug McMillon, Walmart has often taken a more liberal stance on issues in recent years—a gamble for a company based in Red State Arkansas. But executives see its approach as part of its mission to let potential shoppers and employees know the company aims to be socially engaged. It’s a big change for a company that built itself as a ruthlessly efficient business focused on affordable shopping and that generally avoided taking a stand on political issues.”

“Today, around 72% of Walmart shoppers want the company to ‘take a stand on important social issues’ and 85% want the retailer to ‘make it clear what values you stand for,’ said Walmart’s chief marketing officer, Tony Rogers, in a June presentation to reporters, citing a survey by research firm Kantar. Increasingly, the perception of a company’s views and deeds are linked to its brand, he said … Yet with its political stances, Walmart, with 2.3 million workers, especially risks alienating its core customers, who often live in more conservative-leaning rural and suburban communities.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Why America Screams for Ice Cream

Boston Globe: “From the tables of European royalty to a bag of 10 Hoodsies for $2.98 at Market Basket, the story of ice cream echoes that of the American experiment — democratization, fueled by technology, ingenuity, and mass marketing. In the three centuries since the first ice cream recipe was published in English, this frozen food has become an integral part of American identity. Ice cream forms the slushy bedrock of our childhood nostalgia; it’s what people are supposed to eat after a break up because it makes you feel better; it’s the thing that Americans replaced drinking with during Prohibition. It looks great on social media (31 million #icecream photos on Instagram and counting), and, of course, it tastes really good.”

“Ice cream is now a nearly $60 billion a year global industry, expected to grow to nearly $75 billion by 2024. Americans are no longer the world’s top consumers of ice cream — that crown goes to China — nor do we consume the most per capita (that would be Norway, that dark horse). But although we are eating less of it than we did even five years ago, Americans still love ice cream, consuming 13 pounds of the stuff per capita in 2016 and spending $6.6 billion on it in 2017. The ice cream industry in the United States has remained stable in large part because we’re willing to pay more for it when we perceive it as ‘premium’.”

Margaret Visser “writing in ‘Much Depends on Dinner,’ noted that ice cream has become ‘invested, in European and American cultures, with what amounts to mythic power.’ Though ice cream has become cheap, it has never been quite cheapened. It remains ‘a sound and tasteful alternative to the empty vulgarities of junk food,’ Visser wrote. It exerts a pleasant nostalgic pull, for that lost childhood, for an old-fashioned time past, for a golden era that doesn’t exist now and probably never really existed, for what Visser describes simply as ‘elsewhere,’ — the country, the holiday, the seaside. Or to put it another way, as Vora said, ‘Ice cream is just fun’.”

Facebooktwittergoogle_plusredditpinterestlinkedinmail