Restaurants on the Lower East Side Staying Optimistic for the Spring Season- final .2

A beige restaurant is open on a Saturday late afternoon, in early march. It’s cursive sign on the front boasts tapas and arepas at an inexpensive price. The restaurant’s windows turn the corner onto 4^th street where a meager party of five sits at a large dark wooden table in the middle of the dining room. The place smells like fresh paint and new kitchen wear dense with Venezuelan food: It’s a new smell on 1^st Avenue.

Guayoyo is on of the new restaurants that is about to face an interesting path in the wake of the financial crash of 2008. Although there has been an economic downturn, Senior Vice President of the Research and Information Services of the National Restaurant Association, Hudson Riehle, reported on a video on the National Restaurant Association website saying that economic forecasts predict greater income ahead for restaurants in the United States and in New York State. The danger in the restaurant industry is not the restaurants themselves but the changes in consumer lifestyle.

Guayoyo opened in New York City’s Lower East Side on February second after a two month renovation period. First Avenue is known for its kitschy Indian restaurants that have populated near sixth street. Guayoyo now offers a unique Venezuelan cuisine to the neighboring Indian Restaurants. It is slightly lower in price to many other restaurants on the avenue at about $7 for arepa. The Japanese restaurant, Kura Sushi that inhabited the same 67 1^st Avenue venue before, closed in November.

New York State has been facing difficult times after the financial crash in 2008, with an unemployment percentage of 9.0-9.9% of jobs, where New York State has suffered an average of 9.4% of jobs according to The Bureau of Economic Analysis. However, Kathleen Walton, the Senior Manager of Information Services at The National Restaurant Association said that "the restaurant industry has done relatively well." There are constant openings of restaurants all over Manhattan. Restaurants in New York City do face a job decline. However, in comparison to job loses in other job areas the Federal Reserve Bank of New York shows that, along with education, health and leisure, hospitality has shown an increase in New York State.

Though the financial crash has hit Manhattan restaurants less than other work forces, they are constantly desperate to find workers. Often these restaurants receive workers for short periods of time. Erin Mattick, 21, a senior and Environmental Studies major at The New School worked at three restaurants over two years. "I busted my ass" she said "and got less than I was getting before." The former resident of Southern Florida , Mattick, added that "the turnover [of workers] was crazy."

The owner and manager of Guayoyo has been facing difficulty in hiring. Carlos Lopez, 43, said, “it is not so hard to find people, but finding good people has been difficult.” The Venezuelan cuisine that Guayoyo offers can only be found in Manhattan on 72^nd Street and the West Village, so the taste is relatively rare for New Yorkers, and especially the Lower East Side.Promotional money has been tight for Guayoyo, however. “It’s difficult to get the word out,” Mr. Lopez says. Though the restaurant has had a slow start Carlos Lopez believes that due to it's unique food selections it will be a success. “Last year I was laid off” he said, “but this is a good new taste for people who only know burritos.”

Restaurants face an interesting predicament where they are always searching for jobs where the job market is full of people in need of work. "In a metropolitan area more people are inclined to eat out," Walton said, "and we need to enforce this lifestyle." The danger in the restaurant industry is not the restaurants themselves but the changes in consumer lifestyle. Fortunately, where there were 150,931.7 thousand workers in 2008 nationally there will be a increase to about 166,205.6 thousand nationally by 2018 according to the National Employment Matrix by The Bureau of labour Statistics.

With the financial crisis still weighing down on many businesses New York City seems to be facing less of a downturn now. In comparison with a 9 billion dollar raising in revnue in the restaurant industry since last year according to the US Department of Commerce, restaurants and accommodation businesses are beginning to overcome the financial crisis of 2008. "There is no way to protect against a financial crisis." Walton, the Senior Manager of Information Services at The National Restaurant Association said "but we are providing as many tool as we can to help the restaurants." These tools include education, venues and food quality. “It starts slow” Lopez said, “but I always tell them [at the restaurant] ‘don’t worry, don’t worry.” Restaurants in New York City can consider themselves lucky, work is not letting up.

Living La Vida Yoga Pt. 3

Mike Patton arrives at a tranquil loft immediately before the sunlight slips through the windows. His bare feet soon grace the wooden floor as he endearingly mops away any nuisances from the previous day.

Located on 99 University Place, Yoga Vida NYC is a serene utopia embellished in harmonious tones of amber, copper, and burgundy. Its owner, Patton, gave to breath Yoga Vida on January 4th, 2010, offering New York City dwellers a new array of classes, with quality and personal instruction and for an affordable price. 

“We’re still in the process [of opening],” said Patton, “It’s a process through and through. And we are making progress.”

A graduate of economic studies at Princeton, and a former futures broker at The Bear Sterns Companies, Inc. before its collapse, Patton enjoys the endeavors and rewards that his new business has to offer.

“It was a raw shell on December 4th, the first day we brought a 2x4 in and built the whole place,” said Patton. And he is increasingly proud of his new business and determined to spread the values of the studio.

For Patton and Yoga Vida’s committed instructors it is vital to “grow this place with our philosophy,” stressed Hilaria Thomas, one of Yoga Vida’s instructors and an experienced yoga teacher for over four years.

“I love teaching and I love yoga. And to have the opportunity to build something from the ground up from nothing, is like a dream come true,” added Thomas.

The passion that both Patton and Thomas possess for the innovative studio has driven the unique characteristics that Yoga Vida illuminates.

For anyone who wants to increase their flexibility to great music, Yoga Vida offers classes on Fridays with themed music, including Bob Marley, The Notorious B.I.G., and The Grateful Dead. On Saturdays, the studio hosts a class with live music and alternating bands.

Yoga, in particular, is a sharp business to invest in. Now, more than ever, yoga practice is becoming increasingly popular. According to a poll issued by Harris Interactive Service Bureau, close to 14 million Americans state that a doctor has recommended yoga to improve health and have spent nearly $5.7 billion—87% more than in 2004—on yoga equipment, products, and clothing in 2008.

IBISWorld, an independent publisher, reports that the fitness industry grows significantly as the importance of health and well-being becomes even more fundamental. “Health and social interaction are the main factors that draw members to fitness and recreational clubs,” reports IBISWorld, “The media has played its part, with an increased emphasis on appearance and wellness evident.”

Patton is similar to the very same population he seeks to reach, in that in this somber time of financial uncertainty, yoga and fitness in general, are indispensible stress relievers.  “In the point that I was looking for a job and life was so uncertain, it was the only thing that could down me and bring me back to that present moment.”

However, along with the needed of a calming chakra, also comes the stiff competition between yoga studios.

Just ten blocks around Yoga Vida NYC, are nine other yoga studios and in New York City alone, there are over 500 studios available to all Big Apple dwellers.

Patton has also felt the pressure along with the competitive side of the business and “the amount of risk on the table. Every month you have to pay your bills and you can’t really get around it.”

Nevertheless, Patton is devoted to making Yoga Vida a success and his financial background assists in keeping the studio afloat.

The inevitable uncertainty and concerns have inspired Patton to run a bright yoga studio, built on enthusiasm and commitment. And his appreciation for the art of yoga increases with every passing day.

“Without [yoga], I wouldn’t be here doing something very different and be nearly as happy and even at the point where it is so uncertain, I’m happier at the end of each day than I’ve ever been,” exclaimed Patton.

Patton thrives for the simple pleasures that his new businesses offers.

“The structure of the days has been beautiful. The first thing I do every morning is take off my shoes and scrub the floors,” said Patton. “There are parts of me that really enjoy that. I’m more challenged than I ever was working at Bear Sterns.”

3. A Melancholic Movie Ending

One spring morning seven years ago, 25-year-old California-native John Bullock was walking around the highly populated and commercial West Village when all of a sudden he had a vision: he was going to open his own video store in this neighborhood. His goal was to combine his passion for movies and his desire to succeed in the city into one new and exciting business.

Two years later Bullock opened Cinema Classics, a small video store on Perry Street and 7th Avenue South, which offers the best classic movies of all times. “There are many movie aficionados in the Village area, so the store was quite a hit during its first couple of years,” Bullock says. Bullock, a movie aficionado himself, would spend hours talking to customers about his favorite directors such as Stanley Kubrick, Franz Capra, and Gus Van Sant.

Yet the current economic crisis, the intense competition with more economical movie services, such as Netflix and On Demand, and the ongoing movie piracy phenomenon, have all taken a toll in Bullock’s industry. After a severe decline in the store’s customer rate that accounted to an approximate 40% drop in its sales, the store can no longer afford its $5000 a month retail space in the West Village. It is scheduled to close this upcoming April. “It’s impressive how far piracy has gone,” Bullock says.

Victor Lewis, one of Cinema Classic’s old customers says about the store, “The actual selection of movies is solid if not out of this world. The problem with the store I feel is that it'll go out of business because there's too much competition around,” says Victor Lews, one of Cinema Classic’s oldest customers.

Not only small businesses are suffering from the economic crisis. Last year, we witnessed the closing of the Virgin Megastores. The store’s revenue declined from $230 million in 2002 to $170 million in 2009. Dean Christiansen, founding principal of Acacia Capitla, Inc., a New York City based corporate finance advisory firm, the emergence of legal paid movie downloads does not compensate the loss from illegal downloads. “Even though profitable movie download alternatives are becoming increasingly popular, the effect of movie piracy is still resulting in a significant loss of revenue, particularly for small businesses, who cannot afford to decrease the prices of their movies,” Christiansen says.

Free online movie sites have become increasingly popular in the past couple of years. Websites such as Watch-Movies, Project Free TV, and even YouTube provide a vast database of both vintage and contemporary movies that viewers can watch without downloading, spending money, or leaving their homes. According to the Motion Pictures Association of America (MCAA), 18% of online users in the US have illegally watched a full-length movie. Many people watch illegal movies on the Internet mainly because of economic reasons. Terrell Smith, movie fan and New School student says, “Yes. I watch pirated movies because I’d rather not spend the money,” Most students had similar reactions. Many perceived the movie industry as being overly rich and not truly suffering from online movie piracy.

Yet for small executive John Bullock, the illegal competition cost him his business. The average $20 sale price of the DVD’s in Cinema Classics cannot compete with the free illegal movie databases online. Bullock is reluctant about getting into details about his future career plans, yet he does plan to continue to offer the movies he has in stock through the store’s website. “I’ve made a good income doing what I do best for many years. It is now time for Cinema Classics to take a different path,” Bullock says. Above all, the hopeful owner refuses to believe that this will be the end of his esteemed company.

East West Café Makes Move to Accommodate Recession .3

New York City, Union Square; East West Living, one of Manhattan’s few holistic health supply and spiritual bookstores has made a move to downsize the expense of its café to increase revenue storewide and battle the effects of the economy.

“We are moving away from preparing our own food to reduce overhead costs” said Ronn Goodmen, East west’s IT Manger. Goodmen has been an employee for six months and oversees store operations. “It works out more cost effective to have the food prepared by an outside location than in the store,” Goodmen said. The transition from preparation-based-food made on the premises to snack food imported from other business has resulted in the lay-off of the chef and cut hours for the café’s four employees. The flow of customers was inconsistent, which meant that fully prepared food would often go to waste and extra employees would work shifts with little to no customer interaction, Goodmen explained.

East West Living has called Fifth Avenue home for over 25 years. The store closed its doors five years ago to remodel and obtain the proper documentation needed to run a kitchen. East West has always specialized in carrying spiritual, metaphysical and holistic health books and supplies, as well as been a place to sponsor events for the area’s yogic and spiritual community. The café portion of the business has been up and running for three years.

“In running any business the major challenges are with making sure your staff, clients and customers are happy. During this time in the economy its the struggle of balancing the two,” Khadijah Farmer, the Café Operations Manager said. Farmer, 30, a New York native has worked at East West Living as the Café Manager for the past three years. The main concern with the café in relation to the store as a whole was that the café wasn’t bringing in much of a profit. $1000 was being spent weekly to supply the café with the necessities to prepare a full selection of vegan and vegetarian meal options.

The New York Department of Labor on March 10, 2010 issued a press release that shows the unemployment rate in New York state is at it’s highest since 1992, having reached it’s peak (8.4%) in 2009. In Manhattan the unemployment rate (10.2%) is slightly higher than the state average (8.8%), but as a whole New York State is still below that national average (9.7%). New York Department of Labor Liberal Market Analyst, Jim Brown, explains that Manhattan is the place of Business Services mainly accountants, lawyers and consulting firms; the industry of Business Services has been hit hardest by the economy, which is why Manhattan has the highest unemployment rate in New York.

“Customers have been walking in for hot food and then walking away,” café employee Tyler St. Clair said. St. Clair, 19, has worked at the café since July. Since the new transition St. Clair’s hours have been cut and his tips have diminished. He says he thought about getting another job because the café is no longer financially supportive, but if he were to leave now the café would suffer immensely. “We don’t have the man power to train another person at this point, “ St. Clair said. St. Clair says he feels like the transition in the café has been a cause for lost business. “ I think it’s been a loss for the community,“ St. Clair said.

There are 249 bookstores in Manhattan, over 100 Starbucks and 43 Dunkin’ Doughnuts. “Being an independent coffee shop in Manhattan with the slugfest of Starbucks and Dukin’ Doughnuts is tough,” Market Analyst Jim Brown said. According to the Small Business Association small businesses pay 44% of the United States private payroll and have provided 64% of new jobs over the past 15 years.

East West brings in the majority (80%) of profit through the store portion of the business, with the café bringing in the remaining 20% of profits, Goodmen said. “One of the main reasons for the change is to focus more on a business-meeting cafe with evening events and not so much a food service cafe. We are always looking at the overall health of the whole business and making changes as we discover things that need improvement, “ Goodmen said.

“Restaurants are a tricky business because of service demands and restrictions and the trend for bookstores is tough with inventions like Kindle and books on the Internet,” Brown said. Despite the difficulty of the Business Services industry and the Retail industry the Restaurant industry is on a steady rise. “Manhattan is a big place for profit and business in general, there’s a lot of wealth there,” Brown said, explaining that a small business like East West has potential for a large amount of customers in Manhattan but the café/bookstore trend is a tough one in today’s market place.

The transition from full service café to snacks and beverages began only three week ago. No additions to events have been made to the events calendar, and while it may be too soon to tell what effect the move has had on profit and revenue in recent weeks there have been notably less customers in the café around lunch time.

Bagels, Papayas, and The Economy v.3

New York City-The work to replace the Papaya King has been in the works since 2009 when the Papaya King announced its closing of the 14th street location. The buildings renovations and changes have gone up quick, removing the red and yellow sign and replacing it with Bagels and More. “I’ve been working on the project for a couple weeks,” says Mark Levant 37, a construction worker working on the 7th avenue, but said that this was “just the nature of the city.” With a constant demand for retail space and fairly limited commercial space, one store goes down and another springs up.

The recession’s toll on the city of New York looks more optimistic when seeing that stores are still always open, and of course still as crowded, with every store closing accompanied by a new store taking its place in relatively quick succession. This is certainly the case when walking down 14th and 7th avenue seeing that on the corner where the Papaya King once was located, there is now under construction Bagels and More an example of the cities quick paced commercial environment.

The New York based Papaya King has inhabited the city for a little more than 68 years and has hopes of branching away from the boroughs and out of the city. With new locations in New Jersey, and even in Maine the expansion of Papaya King looks to be a success. Papaya King plans to continue to develop in New York as well, but in order to move away from the city they say they’ll have to develop a menu and fan basis out of the cities need and want of sidewalk convenience. Even with the sidewalk crowds help Papaya King’s 14th street location has closed shop, falling victim to Greenwich Village’s high rent and taxes. Even once steady income has to compete with unemployment rates and high prices of running a business.

New York Cities streets provide the perfect venue for an easy bite to eat, with people rushing in and out, however outside of the boroughs the restaurant has to make up for New York’s traffic.
According to Dan Horan, executive of PK Enterprises, each Papaya King “can have as many as 2,000 customers in one day during the summer." And as Paul Frumkin a journalist for the New York Times reported, even without seating for customers the restaurant produces in excess of 1.4 million each year with checks on average totaling $4. The impulse buying setup of the Papaya King allows the business to continue to grow in New York, and the recession, although appearing to be hitting the 7th avenue location, has not put a dent in revenue on the whole.

This continues to be the present response of New York City’s losses in the recession. With the predictions of economist earlier in 2008 and 2009 not matching up with the cities current economic status New York’s economy continues to stay ahead of the majority of states. With New York’s unemployment rate resting at 8.7 percent as opposed to the national rate of 9.7, according to the National Department of Labor. The cities economy was predicted to surpass the losses surrounding the 9/11 attacks but again this has not been the case.

“Nobody is playing down the damage that the financial crisis has caused in the city. The unemployment rate hit 10.6 percent in December, more residents are unemployed than at any time in at least 34 years, and the city and the state are cutting services to bridge growing budget gaps,” says Patrick McGeehan, journalist for the New York Times. However, the economic situation appears to match Papaya Dog’s. The recession has hit New York and Papaya King however neither has sunk too deep. The recession isn’t over for New York or the Nation, but hope is in sight.

Ruben's Empanada Opening Creating Hope and Good Food .3

Walking down the streets of New York City in early March can be stimulating. The snow banks are melting, and people are more leisurely with their time. This feeling carries over into the local restaurants as they keep their doors open, allowing for a crisp breeze or set tables outside enabling an outdoor lunch. One such venue is local restaurant, Ruben’s Empanadas. Ruben’s has just opened its seventh location, choosing the cozy 8th avenue strip in Chelsea to set up shop. 8th avenue boasts many local restaurants and the new addition is not unwelcome.

Among the business closings, and the numerous rent signs that pop up in New York City in a time of recession, it seems a rarity to see a business thriving. The recession started in December of 2007, says a report published by the National Bureau of Economic Research, and many businesses have not been able to ride out the recession. "The Bureau of Labor Statistics on Friday released the employment report for September, the 21st month of consecutive job loss, making this the longest streak in 70 years." says Economic Policy Institute member Heidi Shierholz. Though the recession has spanned several years, things are beginning to look up. “In my view--there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery.” Says Chairman Ben S. Bernanke in a testimony made at the Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing and Urban Affairs, U.S. Senate, in Washington, D.C. Though the recession may have ended, it will take time to heal.

Within this time, to see a restaurant opening among several vacant storefronts on a street is a subtle hint at an upturn. George Entio, manager of the new 8th avenue Ruben’s Empanadas says that within the last few years, business has slowed for them, but not stopped. “After September 11th, our downtown locations slowed down, the buildings were empty, companies moved, so we made the decision to expand uptown,” says Entio. As far as the restaurant business goes, Entio says, “restaurants are crazy, rent is insane, our plan was to open a new store every year, but the last three years we have slowed down.”

In a Report for Congress in an article titled, The Economic Effects of 9/11: A Retrospective Assessment, Gail Makinen, Coordinator Specialist in Economic Policy Government and Finance Division writes, “The loss of lives and property on 9/11 was not large enough to have had
a measurable effect on the productive capacity of the United States even though it had a very significant localized effect on New York City” Though the rest of the country may not be feeling the effects of September 11th, New York City is.

However difficult business is, it seems that New York restaurant owners are sticking it out. Ruben’s Empanadas is a bustling business. Numerous curious customers peaked their heads in for a look at the new delicacies the neighborhood has to offer. It seems as if New York City restaurant owners are going to be all right, observes James Brown, NYS Department of Labor, labor market analyst. “Leisure and hospitality have done quite well in this downturn.” He says, “tourism is a key factor, and in general, this sector has been strong.”


There seem to be increasing reasons to be a little more hopeful come spring. In a speech on March 8th at the National Association for Business Economics Policy Conference, Brian P. Sack, Executive Vice President of The Federal Reserve Bank of New York said, they are "preparing for a smooth exit from the extraordinary policy actions that were taken in response to the financial crisis." In a comprehensive look at State and Area Employment, Hours, and Earnings, the Industry of Full-Service Restaurants, by the Bureau of Labor Statistics Data, shows that there are 110,600 employees in the restaurant business as of February 2010. Michelle Walker, National Data Organizer for the Bureau of Labor Statistics, said, “For this series of stats, employment has gone up from January to February, which is positive.”

Etnio, whose branch of Ruben’s Empanadas opened in early February, says the Bistro has been, “busy from the beginning, we have a lot of customer’s who work in the downtown area, but live here”. He speaks to the need of a more cohesive blend of local businesses saying, “Lately, people are looking for something different, they don’t want another Starbucks or Bank, they want individual attention.” The boom of other local restaurants on the strip does not bother Etnio, stating that, "People know to come here to eat, there is no competition." This display of synergy on a local level only adds to the hope that New York City's economic status will soon pick itself up. George Etnio, manager of Ruben's 8th avenue branch remarked, "The change to these New York City neighborhoods is not good, they are much more commercial than they were eight years ago. People are looking for small businesses again, and that is what we will give them."

Cloudy With A Chance of Meatballs 3.0

Daniel Holzman barely has time to spend being executive chef. On a Monday afternoon he finished an interview with the Associated Press before running back to the kitchen, then back to floor to meet with yet more people vying for his attention and wanting to know more about the great success of the Meatball Shop. After opening a month ago, the Meatball Shop has already landed loads of press attention, fantastic reviews from the New York Times to the Regis and Kelly show. While the economy of late has proved disastrous for some, for others it has served as an opportunity to rise up, above and beyond.

          The Meatball Shop has fared well through the ups and downs of the economy, although for other's maintaining business has become impossible. According to Zagat’s 2010 survey, 102 restaurants in New York closed and 157 opened last year. Alex Horna, 24, the assistant general manager at ‘Inoteca, an Italian wine bar and restaurant just a couple blocks away from the Meatball Shop, said the reason for what seems to be a successful market for new restaurants is due to the closings of others. He explained that when restaurants don’t make it they have to find someone to fill their lease and license, and fast.

The city may be doing well in general, but some neighborhoods seem to be faring better than others. Matt Krell, 28, a commercial real estate broker in Manhattan said, “The New York market is completely different. We’ve already seen a turn around. Vacancy rates are down. If you walk down the street, there are far less for sale signs in the windows.”

Some neighborhoods haven’t had the popularity and crowds they need to maintain business. When discussing the increased closings and ghost town feel of the Upper East Side, Krell said, “There’s something to be said about the bars and restaurants on the Upper East Side, the neighborhood has cooled down and they’re not attracting people.”

Business on the Lower East Side is especially banging in the summer. Horna from ‘Inoteca said, “It’s a seasonal thing. For uptown restaurants, summer is the worst time. On the Lower East Side, it’s the best," Horna said, "With outdoor seating, people know they have to keep ordering if they want to keep their seat outside.” Horna hopes business will pick up, for such a lack of affects not just the restaurant and its name but all of the staff as well.

While people working in the restaurant industry might be making less, the employment rates have actually been looking up. Tony Pinera, an economist at the Bureau of Labor Statistics said, “In February 2010 there were 110,600 employees in the full service restaurant business, up from 104,900 in February 2009.”

Back at the Meatball Shop, the funky, tattoo covered employees look happy to be part of piece of success in this mixed up economy. Holzman and his partner Michael Chernow decided to open the Meatball Shop about six months ago, hitting the scene in mid-February at full force. Located down on the Lower East Side at 84 Stanton, the restaurant offers a mix and match menu of different types of meatballs, sauces, and sides, the average meal ranging from $10-$15.

             The restaurant’s website lists the farms where the ingredients come from, adding appeal to those who are concerned about the sources of their food. Meals end gloriously with homemade ice cream sandwiches. Since its opening, the Meatball Shop has been welcomed by critics and customers, and has welcomed the crowds as well.

Holzman said of the late night crowd that often swarms and stumbles down the streets of the Lower East Side, “Sometimes it can be overwhelming, especially late at night with the drunks. But I hope they all come. I love it. I love every single person. I want everybody here.”

In the world of consumption, numbers show that people have been spending more, despite a gain in earnings. Brendan Leary, an economist and specialist on personal consumption at the Bureau of Economic Analysis said, “Consumer spending in February grew 3/10^th.” Leary then explained how population growth affects this number, “Population increases 1% a year, so month to month you’re picking up just about a 1/10^th of the population growing. If in February consumer spending grew 3/10^th, 1/10^th is just part of that.”

While the very products people are spending their money on was not stated, on the Lower East Side, it just might be meatballs.

 “I think the economy worked in our favor. We had some opportunity to sneak in here as these little guys who are getting a lot of recognition.” Holzman said, and as for the Meatball Shop’s success, “It’s been really great. It’s been overwhelming and much better than I expected.

Title courtesy of Drew Taylor

A Melancholic Movie Ending

One spring morning seven years ago, 25 year old California-native John Bullock was walking around the highly populated and commercial West Village when all of a sudden he had a vision: he was going to open his own video store in this neighborhood. His goal was to combine his passion for movies and his desire to succeed in the city into one new and exciting business.

Two years later Bullock opened Cinema Classics, a small video store on Perry Street and 7th Avenue South, which offers the best classic movies of all times. “There are many movie aficionados in the Village area, so the store was quite a hit during its first couple of years,” Bullock says. Bullock, a movie aficionado himself, would spend hours talking to customers about his favorite directors such as Stanley Kubrick, Franz Capra, and Gus Van Sant.

Yet the current economic crisis, the intense competition with more economical movie services, such as Netflix and On Demand, and the ongoing movie piracy industry, have all taken a toll in Bullock’s industry. After a severe decline in the store’s customer rate that accounted to an approximate 40% drop in its sales, the store can no longer afford its $5000 a month retail space in the West Village. It is programmed to close this upcoming April. “Now a days watching a movie in the Internet is about the easiest thing in the world. It’s impressive how far piracy has gone,” Bullock says.

Victor Lewis, one of Cinema Classic’s old customers says about the store, “The actual selection of movies is solid if not out of this world. The problem with the store I feel is that it'll go out of business because there's too much competition around.”

Not only are the small businesses suffering from the economic crisis. A decline in the economy’s rate of profit taking place since the 1950’s seems to be affecting all businesses. Last year, the closing of the Virgin Megastores marked a significant turning point in the music and movie industries. The store’s revenue declined from $230 million in 2002 to $170 million in 2009.

Free online movie sites have become increasingly popular in the past couple of years. Websites such as Watch-Movies, Project Free TV, and even YouTube provide a vast database of both vintage and contemporary movies that viewers can watch without the need of downloading, spending money, or leaving their homes. According to the Motion Pictures Association of America (MCAA), 18% of online users in the US have illegally watched a full-length movie. When asked if he watches movies on illegal Internet sites, Terrell Smith, movie fan and New School student says, “Yes. I’d rather not spend the money, but also because they’re readily available on the Internet and I don’t think the people who watch the content are at fault, but the ones who upload it are the ones doing the disservices to the movie industry.” When asked the same questions, most students had similar reactions. Many perceived the movie industry as being overly rich and not truly suffering from online movie piracy.

Yet for small executive John Bullock, the illegal competition cost him his business. The average $20 sale price of the DVD’s in Cinema Classics cannot compete with the free illegal movie databases online. Bullock is reluctant about getting into details about his future career plans, yet he does plan to continue to offer the movies he has in stock through the store’s website. “I’ve made a good income doing what I do best for many years. It is now time for Cinema Classics to take a different path,” Bullock says. Above all, the hopeful owner refuses to believe that this will be the end of his esteemed company.

Meatballs & Economic Downfalls

Daniel Holzman barely has time to spend being executive chef. On Monday afternoon he finished an interview with the Associated Press before running back to the kitchen, then back to floor to meet with yet more people vying for his attention and wanting to know more about the great success of the Meatball Shop. After opening a month ago, the Meatball Shop has already landed loads of press attention, fantastic reviews from the New York Times to the Regis and Kelly show. While the economy of late has proved disastrous for some, for others it has served as an opportunity to rise up, above and beyond.

            Holzman and his partner Michael Chernow decided to open the Meatball Shop about six months ago, hitting the scene in mid-February at full force. Located down on the Lower East Side at 84 Stanton, the restaurant offers a  mix and match menu of different types of meatballs, sauces, and sides, the average meal ranging from $10-$15. The restaurant’s website lists the farms where the ingredients come from, adding appeal to those who are concerned about the sources of their food. Meals end gloriously with homemade ice cream sandwiches. Since its opening, the Meatball Shop has been welcomed by critics and customers, and has welcomed the crowds as well.

Holzman said of the late night crowd that often swarms and stumbles down the streets of the Lower East Side, “Sometimes it can be overwhelming, especially late at night with the drunks. But I hope they all come. I love it. I love every single person. I want everybody here.”

The Meatball Shop has fared well through the ups and downs of the economy, although for other's maintaining business has become impossible. According to Zagat’s 2010 survey, 102 restaurants in New York closed and 157 opened last year. Alex Horna, 24, the assistant general manager at ‘Inoteca, an Italian wine bar and restaurant just a couple blocks away from the Meatball Shop, said the reason for what seems to be a successful market for new restaurants is due to the closings of others. He explained that when restaurants don’t make it they have to find someone to fill their lease and license, and fast.

As for business at ‘Inoteca, Horna said in general figures have been down from this time last year, but for the Lower East side, the time for banging business starts in the summer. “It’s a seasonal thing. For uptown restaurants, summer is the worst time. On the Lower East Side, it’s the best," Horna said, "With outdoor seating, people know they have to keep ordering if they want to keep their seat outside.” Horna hopes business will pick up, for such a lack of affects not just the restaurant and its name but all of the staff as well.

The restaurant business in other states across the country has been bleak. In New Mexico, many businesses are running on empty these days. Susan Taylor, 43, a seasoned hostess at Osteria D’Assisi, a popular staple in Santa Fe’s dining scene, says business has been drastically worse than previous years, “As someone who’s being tipped out on the affair, it’s definitely down.”

Back in New York, the dynamic of the economy is considered to be a different world. Matt Krell, 28, a commercial real estate broker in Manhattan said, “The New York market is completely different. We’ve already seen a turn around. Vacancy rates are down. If you walk down the street, there are far less for sale signs in the windows.”

Business on the Lower East Side is lucky thanks to the popularity of the neighborhood. When discussing the increased closings and ghost town feel of the Upper East Side, Krell said, “There’s something to be said about the bars and restaurants on the Upper East Side, the neighborhood has cooled down and they’re not attracting people.”

For businesses that are managing to stay open, the rate of employment may be decreasing. According to the Bureau of Labor Statistics, the rate of unemployment in the service industry was at a ten year record low in January, down 11.4%. People who do have jobs seem to be spending more, according to the Bureau of Economic Analysis which is part of the US Department of Commerce. The rate gross domestic purchases, which is the market value of how much people spend on consuming goods and services, increased in the US by 5.5% in the fourth quarter, up from the 3.0% increase in the third, as shown in their GDP report on February 26. While the very products people are buying was not stated, on the Lower East Side, it just might be meatballs.

Back down on Stanton, the funky, tattoo covered workers at the Meatball Shop look happy to be part of a piece of success in this mixed up economy. “I think the economy worked in our favor. We had some opportunity to sneak in here as these little guys who are getting a lot of recognition.” Holzman said, and as for the Meatball Shop’s success, “It’s been really great. It’s been overwhelming and much better than I expected.

Bagels and Papays 2.0

New York City-When walking through downtown Manhattan one would be hard pressed to notice the recessions toll on the city, with a constant influx of stores opening and closing. The stores are still always open, and of course still as crowded, with every store closing accompanied by a new store taking its place. This is certainly the case when walking down 14th and 7th avenue, and on the corner perhaps you’ll notice that where the Papaya King once was located, there is now under construction Bagels and More.

The work to replace the Papaya King has been in the works since 2009 when the Papaya King announced its closing of the 14th street location. The buildings renovations and changes have gone up quick, removing the red and yellow sign and replacing it with Bagels and More. “I’ve been working on the project for a couple weeks,” says Mark Levant 37, a construction worker working on the 7th avenue, but said that this was “just the nature of the city.”

The New York based Papaya King has inhabited the city for a little more than 68 years and has hopes of branching away from the boroughs. With new locations in New Jersey, and even in Maine the expansion of Papaya King looks to be a success. Papaya King however plans to continue to develop in New York as well, but in order to move away from the city they say they’ll have to develop a menu and fan basis out of the cities need and want of sidewalk convenience.

New York Cities streets provide the perfect venue for an easy bite to eat, with people rushing in and out, however outside of the boroughs the restaurant has to make up for New York’s traffic.
According to Dan Horan, executive of PK Enterprises, each Papaya King “can have as many as 2,000 customers in one day during the summer." And as Paul Frumkin a journalist for the New York Times reported, even without seating for customers the restaurant produces in excess of 1.4 million each year with checks on average totaling $4. The impulse buying setup of the Papaya King allows the business to continue to grow in New York, and the recession, although appearing to be hitting the 7th avenue location, has not put a dent in revenue on the whole.

This continues to be the present response of New York City’s losses in what is said to be a still existing recession. With the predictions of economist earlier in 2008 and 2009 not matching up with the cities current economic status New York’s economy continues to stay ahead of the majority of states. The cities economy was predicted to surpass the losses surrounding the 9/11 attacks but again this has not been the case.

“Nobody is playing down the damage that the financial crisis has caused in the city. The unemployment rate hit 10.6 percent in December, more residents are unemployed than at any time in at least 34 years, and the city and the state are cutting services to bridge growing budget gaps,” says Patrick McGeehan, journalist for the New York Times.

With the New York State Department of Labor’s release of the unemployment rate for New York City in January of 2010 as still resting at 10.4 percent economist feared the worst. However, they are now given considerable hope for the cities economy with the response and revision of the unemployment rates, which showed that New York City was faring better than the nation’s average job losses. The recession isn’t over for New York or the Nation, but hope is in sight.

Cupcakes and the Economy.2

Commuter hours in Grand Central are always crowded and frantic, but they’ve gotten even crazier since Magnolia Bakery opened in the downstairs food court this February. The popular, New York-based bakery has attracted long lines of customers since it opened, particularly commuters and tourtists who regularly pass through the large train station.

Known for its cupcakes, Magnolia Bakery first opened in the 90s on Bleecker Street in the West Village; since then, the company has opened bake shops at Rockefeller Center, on the Upper West Side, in Grand Central, and in the new Bloomingdale’s department store in Dubai.

The current owners of Magnolia Bakery, Steve and Tyra Abrams, decided to open a branch in Grand Central in early 2009, when space became available for leasing in the food court. This provided a rare opportunity for the company said Lara Rhyner, the 26 year-old general manager of the Grand Central location. According to her, most of the stalls in the food court have been there since it opened, and spots only become available about once or twice a decade.

“We’ve just been increasing and increasing,” said Rhyner, who has worked at all of Magnolia Bakery’s locations since she began with the company two years ago.

Despite the current economic recession and nationwide rise in unemployment, Rhyner said the bakery has been experiencing great prosperity. It took a little hit last year, she said, when the economy was really down, but other than that business has been booming.

“Baked goods is something people gravitate towards during hard times,” Rhyner said. “So we’re kind of indestructible.”

According to economic law and the price elasticity of demand, it is true that the food industry tends to survive economic crises better than other industries. This is largely because the food industry is rather inelastic, meaning that consumer demand is stable. Prices don’t have a huge affect on demand, because consumers will purchase the product despite price increases.

According to Misty Martin, the spokesperson for Magnolia Bakery, the company had to increase prices due to increases in ingredient prices over the past two yearsut sales have remained relatively steady.

“A fresh, well made cupcake has the power to do many things,” said Martin. “It reminds us of childhood and the notion of simpler times when things are not so simple, it comforts us on a blue day. And no matter what the economy, one can always depend upon it being absolutely delicious.”

Magnolia Bakery has opened three new branches in the last 2 years-- one near Rockefeller Center in October 2008, and then the Grand Central and Dubai locations this February. According to Rhyner, general manager of the Grand Central store, the company will be opening a new branch in LA this May and will be expanding elsewhere in the United States, though the owners have decided that the Grand Central location will be the last one to open in New York.

This expansion comes at a time when many Americans are suffering financially, yet research implies that the food industry, which was not too badly damaged to begin with, will only be on the rise in coming years. Though the Bureau of Labor Statistics did report an increase in unemployment in food and beverage stores in 2008, it also estimated that employment in food services and drinking places would rise by 7.7% between 2008 and 2018.

“New Yorkers have a spirit of resilience and can weather the most difficult circumstances,” said Martin, in regards to the effect the economical crisis has had on New York City. “The city has pulled together in a way that is reminiscent of the terrible wake of 9/11.”

Magnolia Bakery’s success can be partly attributed to it’s reputation in New York City as one of the tastiest bakeries; it has also gained a number of pop culture references, including a cameo in a Sex and the City episode.

“It’s been crazy, “ said Meggie Kwiatkowski, a manager at the Grand Central location, who is 25 years-old and has worked at all the other Magnolia Bakery locations previously.

“Lots of tourists are surprised, because they didn’t know we were in Grand Central,” she said, adding that the Grand Central location could even be taking away business from the company’s other locations, because the train station sees such a great number of diverse people on an everyday basis.

But even the Magnolia Bakery that opened in Dubai, a country that had no previous experience with the company, has experienced great success.

“It’s nuts over there,” said Rhyner, the general manager of the Grand Central location. “People are just screaming Magnolia Bakery while they wait for cupcakes.”

Indeed, it seems that the company has no plans to stop expanding; according to Martin, Magnolia Bakery has extensive expansion plans, though she was not at liberty to reveal the new locations. She did say, however, that they would be in the United States.

It doesn’t matter how bad finances are, it seems, or what the price is: there will always be sufficient consumer demand for cupcakes.

News Article: Fairfield, Connecticut and the Incredible Shrinking Economy Version 3.0

Like many small towns, downtown Fairfield, Connecticut, is pockmarked with signs of the recent economic downturn. Fairfield Stationers, at one point one of the largest and oldest non-chain storefronts on the downtown drag, has closed shop and moved down the road. Elsewhere, a nail salon has gone out of business and a couple of locally own clothing stores are no more. In the place of a one hundred year-old family run grocery store that had summer cookouts on the sidewalk beyond is a Chase Bank, all cool glass and steel.

But things have been grim before.

Paul Jordanopolous, owner of the Media Wave Movies & More video store in downtown Fairfield, remembers that when he opened his store, in 1997, things were "a ghost town." He opened right after the closing of The Fairfield Store, a large, family-run department store that , encompassing almost a complete block of prime downtown real estate, was the downtown Fairfield economy's centerpiece.

Jordanopolous, himself a survivor in an era of mail order video rentals and automated movie dispensers, remembers the situation more than ten years ago like someone who had survived some apocalyptic blast.

"A lot of storefronts were closed and the dead Fairfield Store building was a big void," he says. "Half to ¾ of the restaurants that are here now didn't exist. The nightlife was dead. After seven I'd peek my head out the door and there wouldn't be a single car on the street."

Still, it could be worse. "Think if we were a company town, where the plant gets shut down and the town just dies," Joranopolous says.

Actually, Fairfield is a company town of sorts. According to the Business Council of Fairfield County, Fortune magazine ranked seven Fortune 500 Companies in Fairfield County in 2009. One of them, General Electric, is located in Fairfield, near the Merritt Parkway.

But much of Fairfield's economy comes from residents who commute, taking the Metro North train into New York City or Stamford every morning, without a single industry keeping the town alive. And in the 12 years since Jordanopolous has opened, a number of high profile restaurants have opened up. In the space where the Fairfield Store used to be are a number of national chains, among them Banana Republic Women, Chico's, and Border's. Still, in an age of economic uncertainty, not even these titans of chain store efficiency are free from collapse. Borders is downtown Fairfield's economic centerpiece and is the one store that seems to be closest to the brink. Just looking at the bookstore's sparse window display seems like an omen of impending doom.

Since the economic crash of 2007, unemployment has steadily risen, although according to the Business Council of Fairfield County, Fairfield County's unemployment rate (7.3%) is still below Connecticut's average, and well below the U.S. Average (8.9%).

And there are still new stores opening all the time, to at least partially fill the void left by shuttered stores.

Giuliana's, a small boutique that does custom dresses and alternations, as well as selling jewelry and fashion accessories, opened up a few months ago. Giuliana's owner, Carmen de la Brena, when asked about the recession and it has negatively affected her business says, flatly, "No."

"My business is better this year," she says. "People won't buy new clothes but they have things in their closets that they need altered. Also, more people buy things from sales at department stores that may not necessarily fit. So for a few dollars more, they can come to me and I can make them fit."

Things may be turning around elsewhere, too. Like a recent story in the New York Times about the city's economy being somewhat uplifted by restaurants, there are two new restaurants in downtown – one, a Japanese restaurant called Kibatsu, just opened and the other is being worked on. Andrew Servetas, owner of the Las Vetas coffee shop, went with the flow in the fluctuating economy. Servetas moved his store down a couple of blocks in downtown Fairfield. The reason? "$5000 less a month," he said.

Patricia Ritchie, President and CEO of Fairfield's Chamber of Commerce, said, "It's [the economy] doing very well compared to a lot of other places." Ritchie too takes the approach that while some stores are shuttering, others will come. "You'll see some empty spots along downtown but you'll see a few new restaurants and more to come."

One of those restaurants to come is Stamford's Colony Pizza, ranked amongst the best pizza places in Connecticut on PizzaTherapy.com, set to occupy the Fairfield Stationers spot. It's setting up shop along a road that sees Mike's Pizza, Pizza Palace, and pizza being served in upscale eateries Centro's, Quattro Pazzi, and Café Madeline's. Longstanding establishment Mike's is going to knock down the wall that separated it from the abandoned nail salon and will open up to include additional seating and a full bar (in an effort to appeal to the untapped college market of nearby Fairfield University, Sacred Heart University, and U Conn Stamford).

Fairfield, Connecticut may be exhibiting some of the signs of the recent financial downswing (Jordanopolous says "Movies are easy for people to cut out of the budget"), there are enough signs of economic growth or, at the very least subtle indicators of turnaround. At the very least, while you wait for the economy to rebound, you can grab yourself a slice of pizza.

The Success of Stands

In the lower East Village, many residents have become familiar with Artichoke Pizza, located on 14th street between 1st and 2nd avenue. Known for its pizza and for its late operating hours, there is always a line trailing out of the small shop, even at two in the morning. On January 14th, owners Francis Garcia and Sal Basille opened a dessert stand, Led Zeppole, located only two doors down from their successful pizza shop.

While Garcia discussed that he had prior ideas for a dessert themed restaurant, Led Zeppole was a still a bit unexpected. When the space suddenly became available about a year ago, Garcia explained that originally he had no interest in investing. It was only until other food businesses began to look at the empty space that he became serious in expanding, as he would only lose money by allowing in possible competition.

In the face of the nation’s economic crisis, business has remained unaffected.

“Pizza’s recession proof,” Garcia said. “No matter how bad things are people still have five dollars for a slice and a soda.”

Garcia explained that the business received during the late nights and early mornings have also helped them stay afloat.

“The late night crowd is great. It’s an alternative to a diner.” Not many places stay open late.” Garcia says. “ There are only a handful of places that have good food for cheap prices that are open late.”

In a report released by the RNCOS, the restaurant industry remains a keystone of the nations economy, accounting for 4 percent the US GDP and supplying jobs to a significant portion of the total US workforce. The food industry, while suffering from some amount of economic repercussions, it is still considered a “safe haven” in the larger sense.

Despite the food industry’s stability during the nations economic crisis, it is difficult to disregard the negative impact the economy has had on others. According to an article in the New York Times, the unemployment rates of January within 30 states, indicates that jobs remain in short supply. According to the U.S. Bureau of Labor Statistics’s February report the 14.9 million unemployed was fundamentally unchanged, the nations unemployment rate remaining at 9.7 percent. Even in New York, the state’s unemployment rate has increased from 8.8 percent to 8.9. Peter A. Neenan, director of the department’s research division, is quoted as saying: “Our newly revised jobs data indicate that the impact of the national recession on New York state’s economy was deeper than first estimated.”

However, there remains optimism as many are suggesting that the country has overcome the recession and are now dealing with recovery. Christina Romer, a chair on President Obama’s Council of Economic Advisors has said:

“You know, there’s the official definition, and that talks about just when do you turn the corner, when do you go from plummeting to, to finally starting to go back up? And I think we have, at least in terms of GDP, reached that point. But I think the president’s always said, and what I firmly believe, you’re not recovered until all those people that want to work are back to work.”

Whatever the case may be, for Garcia and Basille things have never been better, especially as business is expected to increase due to the summer season. With there recent opening of Led Zeppole, a new meat sandwich shop This Little Piggy Had Roast Beef, and the development of a second Artichoke Pizza – one that would offer seating and a side slice shop – it is hard to imagine we are still suffering from an economic crisis. Yet the information still proves so.

“We’ve been blessed,” Garcia says. “We really haven’t had any down time. After the first two weeks [Artichoke] business just exploded.”

Bagel and Papayas

New York City-When walking through downtown Manhattan one would be hard pressed to notice the recessions toll on the city. Stores are still always open, and of course still as crowded, with every store closing accompanied by a new store taking its place. This is certainly the case when walking down 14th and 7th avenue, and on the corner perhaps you’ll notice that where the Papaya King once was locate, is now under construction to become Bagels and More.
The work has been going on since 2009 when the Papaya King announced its closing, and building has gone up quick, removing the red and yellow sign and replacing it with Bagels and More. “I’ve been working on the project for a couple weeks,” says Mark Levant 37, a construction worker working on the 7th avenue project, and says that the project has gone up really quick, but that this was “just the nature of the city.”
The New York based Papaya King has inhabited the city for a little more than 68 years and has hopes of branching away from the boroughs. With new locations in New Jersey, and even in Maine it looks to be a success. Papaya King however plans to continue to develop in New York, but in order to move away from the city they say they’ll have to develop a menu and fan basis out of the cities convenience.
New York Cities streets provide the perfect venue for an easy bite to eat, with people rushing in and out, however outside of the boroughs the restaurant has to make up for New York’s traffic.
According to Dan Horan, executive of PK Enterprises, each Papaya King, “Can have as many as 2,000 customers in one day during the summer." And as Paul Frumkin reported even without seating for customers the restaurant produces in excess of 1.4 million each year with checks on average totaling $4. The impulse buying setup of the Papaya King allows the business to continue to grow in New York, and the recession, although appearing to be hitting the 7th avenue location, has not put a dent in revenue.
This continues to be the response of New York City’s losses in the still present recession. With the predictions of economist earlier in 2008 and 2009 not matching up with the cities current economic status. The cities economy was predicted to surpass the losses surrounding the 9/11 attacks but again has not been the case.
“Nobody is playing down the damage that the financial crisis has caused in the city. The unemployment rate hit 10.6 percent in December, more residents are unemployed than at any time in at least 34 years, and the city and the state are cutting services to bridge growing budget gaps,” says Patrick McGeehan, journalist for the New York Times.
However, according to the New York State Department of Labor the unemployment rate for New York City in January of 2010 is still at 10.4 percent. What gives economist considerable hope for the cities economy is the response of the labor department’s revision of the unemployment rates which showed that New York City was still faring better than the nation’s average job losses. We are still under the pressure of the recession, however New York and Papaya King do not appear to be taking the weight.

Living La Vida Yoga

A barefoot woman walks through a sunlit studio with a tranquil and satisfied smile retrieves her shoes and bag, leaving Yoga Vida NYC more limber than she was before she arrived.

Located on 99 University Place, Yoga Vida NYC is a serene utopia embellished in harmonious tones of amber, copper, and burgundy. Its owner, Mike Patton, gave to breath Yoga Vida on January 4^th, 2010, offering New York City dwellers a new array of classes, with quality and personal instruction and for an affordable price.  

“It was a raw shell on December 4^th, the first day we brought a 2x4 in and built the whole place,” said Patton. And he is increasingly proud of his new business and determined to spread the values of the studio.

For Patton and Yoga Vida’s committed instructors it is vital to “grow this place with our philosophy,” stressed Hilaria Thomas, one of Yoga Vida’s instructors and an experienced yoga teacher for over four years.

“I love teaching and I love yoga. And to have the opportunity to build something from the ground up from nothing, is like a dream come true,” added Thomas. 

The passion that both Patton and Thomas possess for the innovative studio has driven the unique characteristics that Yoga Vida illuminates. Not only does Yoga Vida have some of the most affordable prices for classes, it also offers a range classes with varying levels of difficulty. Another feature are the restorative workshops, targeted to the older and injured yoga audience, in which they may experience an hour or so of prolonged and relaxing postures.

And for students who want to increase their flexibility to great music, Yoga Vida offers classes on Fridays with themed music, including Bob Marley, The Notorious B.I.G., and The Grateful Dead. On Saturdays, the studio hosts a class with live music and alternating bands. 

“[Students] get all hyped up about the live music,” said Patton. He is dedicated to “making it as light and as fun as possible but also having real value and having a purpose. Not just getting in there, making you sweat, and kicking you out. But teaching you along the way: ‘This is how you do it, this is why you do it.’ Instead of just saying ‘Do it.’

Because of Yoga Vida’s young age, however, classes do not fill up as quickly as desired.

“We’re still in the process [of opening],” said Patton, “It’s a process through and through. And we are making progress.”

Yoga, in particular, is a sharp business to invest in. Now, more than ever, yoga practice is becoming increasingly popular. According to Inc. magazine, close to 14 million Americans state that a doctor has recommended yoga to improve health and have spent nearly $5.7 billion—87% more than in 2004—on yoga equipment, products, and clothing in 2008.

However, along with the growing popularity, also comes the stiff competition.

“According to estimates from the Yoga Research and Education Center, there are some 50,000 yoga teachers in the United States and as many as 30,000 places to take yoga classes.” Reported Jennifer Davies, a staff writer of the Union-Tribune. 

The yoga industry, on the other hand, is still a victim of the current recession. “Expenses include rent, advertising and wages for additional teachers. The uncertain economy also makes it a touch-and-go proposition because exercise is often one of the first things people cut out of their budgets,” wrote Davies.

Patton has also felt the pressure of the business and “the amount of risk on the table. Every month you have to pay your bills and you can’t really get around it.”

Nevertheless, Patton is devoted to making Yoga Vida a success and his financial background assists in keeping the studio afloat.

A graduate of economic studies at Princeton, and a former futures broker at The Bear Sterns Companies, Inc. before its collapse, Patton enjoys the endeavors and rewards that his new business has to offer.

“The structure of the days has been beautiful. The first thing I do every morning is take off my shoes and scrub the floors,” said Patton. “There are parts of me that really enjoy that. I’m more challenged than I ever was working at Bear Sterns.”

Thomas’ confidence lies in the individuality of Yoga Vida. “The trick is going to be to maintain the essence of who we are. Which quality yoga at an affordable price.”

The inevitable uncertainty and concerns have inspired Patton to run a bright yoga studio, built on enthusiasm and commitment. And his appreciation for the art of yoga increases with every passing day.

“Without [yoga], I wouldn’t be here doing something very different and be nearly as happy and even at the point where it is so uncertain, I’m happier at the end of each day than I’ve ever been,” exclaimed Patton.

Photo courtesy of Yoga Vida NYC.

Recession Soultion: Ovest in Local Businesses

Behind a wooden door, under an abandoned warehouse and next door to a construction site is a brand new Italian eatery serving one of a kind pizza, arugula salads and over 21 paninis. Located on 27th St. and 10th Avenue Ovest Pizzoteca is a new Italian eatery in the heart of Manhattan's Chelsea. A sister restaurant to Luzzos Pizza in the East Village, its ambience is serene, with imported wines, bar, and eat-in restaurant is not typical for the local pizza shops that surround it.

Since opening on Valentines Day Weekend, Ovest has already started to gain a loyal fan base. TV personality and entrepreneur Martha Stewart made an appearance at the restaurant’s grand opening and has even mentioned the eatery on her syndicated talk show Martha. Stewart who is also a fan of Luzzos decided to check out Ovest which is located a few blocks from Starrett-Lehigh Building which she occupies a floor inside.

Ovest makes the third restaurant for Michele Iuliano who owns two Luzzos chains in the city. Ovest, like Luzzos serves Italian style pizza and anti-paste but offers over 20 types of paninis and a slew of lunch specials. They’re promoting $6 8-inch pizza, along sandwiches and salads as lunch specials. There’s also free “pizza hors d'œuvres during happy hour. Ovest’s most distinctive meal is their Pizza a Cono which is a cone-shaped pizza, which is also on their lunch menu for $6.

"The Napoletana pizza is delicious" says Ilaria Bedin, 21, a foreign exchange student from Venice, Italy. Bedin, who also interns across the street at Ilhabela Holdings is already a fan of the new business. Having sampled most the lunch menu (with the help of her co-workers), she is quite fond of the new place across the street. "I’m from Venice so I know real pizza. This is closest to the real thing I’ve tasted since I moved to New York. Reminds me of home.”

Ovest’s location, lies right in the middle of the industrial 27th St and unlike other restaurants and businesses, there’s no banners. The only advertisement Ovest has is a chalkboard easel that lies in front of the restaurant during daytime hours. Even the staff is a bit clueless on why Iuliano picked such as secluded area with no visual advertisements. “The location it self isn’t a bad spot, it’s a lot of business here since a lot of working people surround the area.” said Charlie Bisgonio, a bar tender at the restaurant. “I do think we need an ad or something, so people know where to find us.”

Emma Scartino, a cashier at Ovest referred to the surrounding neighborhood scene as the inspiration for the location. "It's the mecca of nightlife. Some of the best nightclubs in the city are right next door." Clubs like Pink Elephant and Marquee are within minutes of the restaurant and attract people from all professions including athletes, celebrities and local office workers. "I think because we are so secluded makes people more curious about this place. “

Restaurants in New York City have gotten the lighter edge of the stick when it comes to the dwindling economic crisis. While many Americans face lay-offs and foreclosure; many restaurants are opening up shop. The U.S. Bureau of Labor Statistics reported that the restaurant business expanded 4% since the start of the recession in December 2007 and is expected to rise about 8% within the next ten years.

An increase of local restaurants can boost the country’s economic standing. According to statistics from the U.S. Census Bureau. The median income for a household increases as well as that individual credit standing. 21% of New Yorkers are employed in the culinary profession and if restaurants rise to 8% percent in the next ten years the culinary profession in New York will increase to about 23% employing over 3 million with jobs and about 50,000 becoming local restaurant owners.

With only a month down under its melt, business doing good for Ovest Pizzoteca if you ask Bigosnio. "We get consistent business. We have the usual crowd of working people early evening and the party people in the midnight hours. If things stay the same, then we should have nothing to worry about."