Showing posts with label New York City. Show all posts
Showing posts with label New York City. Show all posts

Friday, September 25, 2009

The Ear Inn


We met family friends for dinner last night at a historic dive in SoHo called The Ear Inn (pictured above1). Last week, I had seen a Guardian article on the "50 best things to eat in the world"; number three on that list was the burger at a New York City restaurant called Little Owl. George, an old friend of my parents, enjoys a good burger, so I invited him to join us. It turned out that Little Owl doesn't offer burgers for dinner, so George suggested the Ear Inn. An old man, he enjoys visiting old places. His son Jimmy joined us.

The family loves meat: Jimmy mentioned he was taking a charcuterie class at the French Culinary Institute in town. He wants to learn how to age his own steaks. He made an interesting point about burgers -- an obvious one, in hindsight, but an interesting one nonetheless: places that cook all their burgers well done (e.g., Five Guys, In-and-Out Burger, etc.) ought to be considered in a separate category from restaurants where you can get burgers cooked to order. That's a distinction Matt and I didn't make when we listed our top five burger places2. Jimmy also noted how difficult it is for restaurants to do something seemingly so simple: consistently cook a burger to order. I mentioned that celebrity chef Bobby Flay's Burger Palace doesn't seem to be able to do this. His stated M.O. is to cook the burgers medium but you have good odds of getting your burger bloody or overcooked instead. The Ear Inn cooked our medium burgers the way we ordered them. Good burger, but no fries: there's no fryer in the cramped kitchen.

1The writing on the wall in the photo, next to the arrow, says that the blue line represents the water's edge of the island as it was in 1766.

2Matt's been too busy to post regularly on his eating blog, thanks in part to Launching Innovation, but if he reads this post, he'll have another two burger places to check out when the dust settles.

Wednesday, September 23, 2009

KSW Claws Back


Long time readers may recall that we noted that shares of KSW Mechanical Services (Nasdaq: KSW), Inc. plummeted last December when two projects comprising about 40% of its backlog were put on hold in the same week. On Monday, KSW announced that the larger of those two projects has been resumed.

Readers may also recall this post from March, where we noted that KSW's corporate counsel Jim Oliviero mentioned the company was competing for a World Trade Center project. Yesterday, the company announced it had been awarded this contract. The company predicted in its press release that its backlog would total $129 million as of the end of this quarter. Before the drop last December, the company's backlog totaled $139 million.

Saturday, September 19, 2009

Hell's Kitchen isn't a DMZ

Last Friday, Cheryl and I went to see The Cult at Terminal 5, in Hell's Kitchen, and then went out for burgers afterwords at Five Napkin Burger, in the same neighborhood. Great show1, great burger2.

Twenty years ago The Cult mentioned this neighborhood in their song "New York City", describing it as "a DMZ", a "Disneyland trash can", and, "a crazy place". That was back in the pre-Giuliani days though. Hell's Kitchen is pretty gentrified these days.

1Before the show, venture capitalist Fred Wilson mentioned in a comment thread that Terminal 5 was "too up and down", i.e., that it's got steep staircases. True, but not really an issue if you stay on one level, as we did. With a bar and bathrooms on that level, there wasn't any need to wander up and down.

2Coincidentally, when Binging for "Five Napkin Burger" while writing this, I found this post by Fred's wife, where she gave the place a thumbs up.

Sunday, June 14, 2009

Puerto Rican Day Parade

The National Puerto Rican Day Parade is taking place today in New York City. A few years ago, we headed into Manhattan on a Sunday without realizing it was Puerto Rican Day. We figured it out as soon as we were jammed in traffic on the 79th Street transverse, as Puerto Ricans waving their flags filtered by us. I had forgotten about this until I hit Google while writing this post, but there was a Seinfeld episode that featured the main characters stuck in traffic due to the Puerto Rican Day Parade. From The New York Times:

Faced with criticism from the leader of a Puerto Rican organization who found the ''Seinfeld'' episode on Thursday insulting, NBC apologized yesterday, saying it had not intended to offend anyone.

The second-to-last ''Seinfeld'' featured Jerry, Elaine, George and Kramer driving back from a Mets game and getting stuck in a traffic jam created by the Puerto Rican Day parade. At one point, Kramer tossed a sparkler and accidentally lighted a Puerto Rican flag on fire. He tried putting out the burning flag by stomping on it.

Angry paradegoers then began chasing Kramer. When they lost him, the mob began shaking Jerry's empty car and threw it down a stairwell. Kramer remarked that ''it's like this every day in Puerto Rico.''

The scene was an ''unconscionable insult'' to Puerto Ricans, said the president of the National Puerto Rican Coalition, Manuel Mirabal.

''It is unacceptable that the Puerto Rican flag be used by 'Seinfeld' as a stage prop under any circumstances,'' Mr. Mirabal said.

The Bronx Borough President, Fernando Ferrer, who is Puerto Rican, said the ''Seinfeld'' episode ''crossed the line between humor and bigotry.'' Mr. Ferrer said it was a slur to depict men rioting and vandalizing a car and suggesting that it happens every day in Puerto Rico.



As long as they keep holding the parade on the second Sunday each June, we won't make that mistake again. That's not a certainty, because the date of the National Puerto Rican Day Parade was chosen somewhat arbitrarily, as it's not based on any particular historical date. It isn't held on the anniversary of Puerto Rico's independence, because Puerto Rico isn't independent. That point was made, pithily and humorously, by The Onion a few years ago.

Wednesday, May 6, 2009

KSW Reports Q1 Earnings


From the company's press release, after today's close ("KSW, Inc. Reports First Quarter 2009 Results"):

LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--KSW, Inc. (NASDAQ: KSW - News) today reported financial results for the first quarter of 2009.

Total revenue for the first quarter of 2009 was $19,706,000 as compared to $20,491,000 for the first quarter of 2008. Net income was $287,000 for the first quarter of 2009 as compared to net income of $840,000 for the first quarter of 2008. This represents earnings per share of $.05 per share (basic and diluted), for the first quarter of 2009 as compared to an earnings per share of $0.13 per share (basic and diluted), for the first quarter of 2008.

As of March 31, 2009, the Company’s backlog was approximately $38,300,000, which does not include the Mt. Sinai Center for Science & Medicine Project, which is currently estimated to have a value between $58 and $61 million. KSW has been notified that the Owner has approved the Company as the trade manager for the construction phase of the project. However, the final contract value has yet to be determined and contract documents have not yet been executed. The March 31, 2009 backlog also does not include two upper west side contracts, which were terminated by the Owner in March 2009. The Company, with the help of union concessions, was able to negotiate new agreements for the completion of those two projects[1].

Chairman of the Board, Floyd Warkol, commented: “Our first quarter revenue and income were impacted by the economic recession and credit crunch, which directly resulted in the cancellation of several large projects. However, our cash position remains strong, and we have aggressively begun bidding on public sector work, where opportunities for new work should expand under the Federal Government’s stimulus program.”


I'll be interested in seeing what the company's balance sheet looks like when it files its 10-Q for the first quarter.

[1]The press release doesn't offer a dollar amount for these two UWS projects, but I wonder if this is the $8.5 million in business KSW corporate counsel Jim Oliviero mentioned in our previous conversation, which we noted in a post at the end of March (KSW Update):

$8.5 million of [the backlog] was terminated by a developer. Oliviero explained that the developer was attempting to negotiate lower costs with the unions, and KSW was hopeful about getting the project back on the backlog if that can be done.


I left a voice mail with Oliviero today and will ask him this if I hear back from him tomorrow.