Katz's never kloses?
Logan Shaw
The headline was something about a dispute between Marc Katz and Barry
Katz. I don't take the statesman and haven't had time to pick up a
copy, so can anyone fill me (and the rest of the newsgroup) in on
what's going on?
- Logan
--
"In order to be prepared to hope in what does not deceive,
we must first lose hope in everything that deceives."
Georges Bernanos
Logan Shaw
Logan Shaw <lo...@cs.utexas.edu> wrote:
>Anyone see the front page of the Statesman today?
>
>The headline was something about a dispute between Marc Katz and Barry
>Katz.
I didn't know you could actually get the text of Stateman
articles on-line, but I just found out otherwise. It's at
http://www.austin360.com/statesman/editions/thursday/news_2.html .
Judging from on the URL, the article may not be around forever.
The jist of it is that Barry Katz owns 49% of Katz's Austin location
and Marc Katz owns 51%. Apparently Barry decided to open a Houston
location by himself recently, and but he had the Austin location give
the new Houston location a $1 million loan at no interest for 20 years,
and also he pays himself $414,000 annual salary. No wonder that prices
at Katz's are so high!
Dewitt
American-Spaceman when a Katz's dispute is the front page headline.
It reminds me of the headline several years back that said, "Sod
Shortage hits Austin".
That said, the article is available at
http://www.austin360.com/statesman/editions/thursday/news_2.html
"Borrowed" from the article:
"I can't help it, I gotta tell ya -- the Katz family feud has spilled
out of their famous restaurant and into court.
Katz's Deli & Bar owner Marc Katz has asked a judge to order the Sixth
Street eatery sold because Katz and his son can't resolve a years-long
dispute over how to run the family business.
In his lawsuit, Katz, 54, accuses 30-year-old Barry Katz of funneling
money from the New York-style deli to a second Katz's Deli in Houston
that the younger Katz owns. Barry Katz was given a 49 percent
ownership stake in the Austin restaurant and runs the business for his
father, who is semi-retired but owns 51 percent. "
deg
David RL Gartner
"Logan Shaw" <lo...@cs.utexas.edu> wrote in message
news:9u6fi1$d1$1...@starbuck.cs.utexas.edu...
> In article <9u6euj$5q$1...@starbuck.cs.utexas.edu>,
> Logan Shaw <lo...@cs.utexas.edu> wrote:
> >Anyone see the front page of the Statesman today?
> >
> >The headline was something about a dispute between Marc Katz and Barry
> >Katz.
>
> I didn't know you could actually get the text of Stateman
> articles on-line, but I just found out otherwise. It's at
> http://www.austin360.com/statesman/editions/thursday/news_2.html .
from the article:
"If the judge orders the restaurant sold, Marc Katz said he hopes to find a
buyer who would run the business as-is -- under the same name and with Marc
Katz still playing a role in it."
actually, *I'd* like to see someone run the business a little better. the
food quality has, IMO, been on the decline over the last 10 years or so, as
the food prices have steadily increased. last time i got french fries
there, they were terrible. the grilled muenster cheese sandwich (which i
tired for the first time in 1990), is nothing like it used to be. i no
longer have any interest in eating at Katz's deli, and that's sad to say.
it used to be one of my favourite restaurants.
david
Therel Moore
>The jist of it is that Barry Katz owns 49% of Katz's Austin location
>and Marc Katz owns 51%. Apparently Barry decided to open a Houston
>location by himself recently, and but he had the Austin location give
>the new Houston location a $1 million loan at no interest for 20 years,
>and also he pays himself $414,000 annual salary. No wonder that prices
>at Katz's are so high!
So are there any other 6th street enterprises that earn $400,000
yearly in profits? It was my understanding that most profits are from
liquor sales but this seems a bit much. A 1 million dollar loan is
not much when your salary is 400K/yr unless your lifestyle is really
high maintenance.
Intriqued
Therel Moore
Austin TX
Barry
"Dewitt" <dew...@texas.net> wrote in message
news:p3gd0uslqtsfgo2iv...@4ax.com...
Dusty Rhodes
news:9u6fi1$d1$1...@starbuck.cs.utexas.edu...
<snip>
> and also he (Barry Katz) pays himself $414,000 annual salary.
> No wonder that prices at Katz's are so high!
I could hardly believe my eyes when I saw this. $414,000/yr for managing a
freaking deli PLUS PROFIT? Ludicrous.
Cheers,
Dusty
MDM
make my own damn reuben.
Stephen
Dusty Rhodes wrote:
Yeah. That's the combined incomes of all the readership of a.f ! Sonny boy
pays himself $414,000/yr. and Pappa lives off somewhere in happy retirement
(surely NOT in a one-bedroom-shack) ... these guys have more than 99% of the
rest of the world and they're *still* not happy? They *still* have to have
something to fight about?
S.
Logan Shaw
Stephen <ssa...@austin.rr.com> wrote:
>(surely NOT in a one-bedroom-shack) ... these guys have more than 99% of the
>rest of the world and they're *still* not happy? They *still* have to have
>something to fight about?
A friend of mine, when I told him the story, said, "Well, that's what
happens when you send your son off to college to get a business degree."
Actually, katzsneverkloses.com says Barry has a Hotel and Restaurant
Management degree, but I still think it's funny.
To be fair, the business used to also include Top of the Marc, so until
recently, the $414,000 salary was a little closer to justified.
The thing that scares me about $414,000 is that that's over $47 an
hour, 24x7 all year. The salary *alone* almost accounts for the high
prices. But hey, I guess they're still in business, aren't they? So
maybe it's just good business.
Dusty Rhodes
> The thing that scares me about $414,000 is that that's over $47 an
> hour, 24x7 all year. The salary *alone* almost accounts for the high
> prices. But hey, I guess they're still in business, aren't they? So
> maybe it's just good business.
Think of it this way. The same money buys 8-10 trained chefs.
Cheers,
Dusty