NAV20
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New York Bar Operates Like Wall Street......

Mon Apr 05, 2010 2:04 pm

This story - covered on our Newsradio, which draws on sources worldwide - tickled me a lot:-

"The Exchange Bar & Grill, set amid the bustling shops and pubs of the Grammercy Park neighborhood, is replete with a ticker tape flashing menu prices in red lettering as demand forces them to fluctuate.

"Customers can move prices for all beverages and bar snacks such as hot wings ($7 for 6 pieces) or fried calamari ($9). The prices will fluctuate in $.25 cent increments, but will most likely plateau at a $2 change in either direction.

"A glass of Guinness starts at $6 but could be pushed to a high of $8 or a low of $4, depending on popularity.

"So if one drink is in heavy demand, its price will rise, causing the cost of other equivalent drinks to drop. A rush on a particular beer would increase its price, and cause other beers to drop.

"Owners Levent Cakar and Damon Bae admit the stock exchange theme is a gimmick but hope a good deal on drinks and their hamburger's tastiness will win over customers.

"Its definitely something a little bit different," said Bae. "There is a little bit of a twist."


http://www.reuters.com/article/idUSTRE62N51X20100325

I'd just like to say, what a marvellous, utterly 'fresh,' just-plain-good idea. As they say, 'Only in New York..." I hope they do lots of good business before everyone else 'catches up' and copies them.

I doubt that I'll ever visit New York City again. But if I ever do, I'll make a beeline for that place. I would have the advantage that my favourite bottled beer is Heineken - and the New York bartenders usually had to dig deep into the icebox to find it. I'd probably be able to drink at rock-bottom prices for quite a while before the 'market' caught up with me.....  
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Brendan03
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RE: New York Bar Operates Like Wall Street......

Mon Apr 05, 2010 2:28 pm

There used to be a bar in Melbourne which would have an LED display which would scroll different drinks, The least popular would be displayed as the cheapest until it started getting bought which would increase the price (amoung other drinks) and as people bought them, The price would go up and the least popular drink would be the cheapest until people started buying it.

I don't know if said bar is still open but this was quite a few years ago, It was quite a creative idea
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flipdewaf
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RE: New York Bar Operates Like Wall Street......

Mon Apr 05, 2010 3:00 pm

We used to have this at uni about 5 years ago, was great fun and cheap for students who didn't care what they drank.

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Mir
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RE: New York Bar Operates Like Wall Street......

Mon Apr 05, 2010 3:23 pm

Quoting NAV20 (Thread starter):
As they say, 'Only in New York..." I hope they do lots of good business before everyone else 'catches up' and copies them.

This place in Barcelona has been around for a while: http://www.morleymouse.com/2008/03/27/dow-jones-bar-barcelona/

-Mir
7 billion, one nation, imagination...it's a beautiful day
 
varigb707
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RE: New York Bar Operates Like Wall Street......

Mon Apr 05, 2010 4:15 pm

First, I said 'hey' and then I said 'now'. "Hey Now!" - Hank K.
 
TransIsland
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RE: New York Bar Operates Like Wall Street......

Mon Apr 05, 2010 4:18 pm

Quoting NAV20 (Thread starter):

I'd just like to say, what a marvellous, utterly 'fresh,' just-plain-good idea. As they say, 'Only in New York..."

Been to a few places like that in Berlin about 10 years ago.
I'm an aviation expert. I have Sky Juice for breakfast.
 
ozglobal
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RE: New York Bar Operates Like Wall Street......

Tue Apr 06, 2010 9:46 pm

Quoting NAV20 (Thread starter):

I'd just like to say, what a marvellous, utterly 'fresh,' just-plain-good idea. As they say, 'Only in New York..." I hope they do lots of good business before everyone else 'catches up' and copies them.

Only New Yorkers say, "Only in New York" and they are almost always wrong when they do. This is a fun idea, but has existed in most large cities for years. Here in Paris there is a cool place around the corner near Place Vendome call Footsie with the same deal and been there for years....
When all's said and done, there'll be more said than done.
 
hjulicher
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RE: New York Bar Operates Like Wall Street......

Tue Apr 06, 2010 9:51 pm

In Berlin it's called the Bier Börse, or the Berlin Beer Exchange. The monitors show the prices for the different types of beer, and every six minutes based on demand, the prices change. Beers that have been ordered get more expensive, and those not very popular reduce in price. Then twice per evening there is a stock market crash, and all the prices fall for 6 minutes to the lowest price possible.

Berlin has had this for a while, and I thought it always cool to go there.
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ltbewr
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RE: New York Bar Operates Like Wall Street......

Wed Apr 07, 2010 1:15 am

This is only a few blocks from where I work in NYC. I will have to go by their during a lunch time walk.
 
pacificjourney
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RE: New York Bar Operates Like Wall Street......

Wed Apr 07, 2010 1:28 am

At the risk of being pedantic the model described is a totalisator not an exchange - put a bet on horse A and it's odds shorten and all others lengthen.
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pacificjourney
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RE: New York Bar Operates Like Wall Street......

Wed Apr 07, 2010 1:29 am

Quoting OzGlobal (Reply 6):
Only New Yorkers say, "Only in New York" and they are almost always wrong when they do.

Possibly the finest words ever written on this forum.
" Help, help ... I'm being oppressed ... "

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