Bull Bear Report Feb 03 2010

Swap Stock for Steak at Smith & Wollensky

By jeremy greenfield

Going short on your stock-heavy bonus this year? Then you can cash it in at Smith & Wollensky steakhouse in New York City for "USDA Prime, dry aged steaks," according to an ad that appeared in the New York Times today.

The restaurant specifically called out a few financial stocks in its ad, telling potential customers to bring "your CIT, your GS, your MS, your C." (That is, CIT Group, Goldman Sachs, Morgan Stanley and Citigroup, respectively.)

All NYSE and NASDAQ stock certificates will be accepted at their close of business prices for both lunch and dinner.

So, what can you get with one share of each of the mentioned stocks as of the publishing of this article?

1. CIT Group ($31): Though $31 might seem like a lot to spend for a casual lunch, it won't get you very far at Smith & Wollensky. You can choose from among several lower-echelon entrees, including Wollensky's Burger ($16) or, for a marginally healthier choice, the Cobb salad ($24).

2. Goldman Sachs ($158): With one golden share of Goldman stock, you can have a feast. Surf and turf is recommended. Start with the Maryland crab cake ($18.50). Stay sea-side for your second course with a 14 ounce "cold water lobster tail" ($59). And, for the turf, choose from one of Smith & Wollensky's filets ($40.50 to $49). A meal like that calls into question the adage that there is always room for dessert. But if you do have room, choose from Haagen-Dazs ice creams and sorbets, a "hot deep dish apple betty" with vanilla sauce, or, a "chocolate basket" ($11 each).

3. Morgan Stanley ($27): Much like the CIT Group stockholder, the choices are limited here. Two appetizers might be the way to go. A Caesar salad ($12) and split pea soup ($9) could make a nice meal for just one share. If you don't fancy salad, try the "smoked 'pastrami' salmon" ($14) with the soup du jour ($9).

4. Citigroup ($3): There isn't much you can get at Smith & Wollensky for just one share of C. The most reasonably priced item is the baked potato ($6), and with even two shares, there would be no room for tax and tip. Try bringing three, leave a generous gratuity, and make sure to tell your server not to skimp on the sour cream and chives.

Write to Jeremy Greenfield

UPDATE: This offer is only available at the Smith & Wollensky in New York City, according to a spokesperson for the Smith & Wollensky Restaurant Group, which operates other Smith & Wollensky restaurants across the U.S., but not the New York location.

Play the new finance career game from FINS!

Financial Dream Jobs - Sign Or Decline
You just got an offer for your dream job,
you have to arm-wrestle your boss.

  • Copyright ©2014 Dice Holdings, Inc. All rights reserved.
Log in 
FINS Login
*Indicates required field
User Name*
     Forgot Your Password?
Or log in using your Facebook account:
Connect with Facebook