Smith & Wollensky Kicks Off Steak-for-Stock Deal

Likely you know someone who works in finance and likely you've heard them bitching recently about any number of things including Obama, bonuses, blah blah blah.

Anyway, I know Smith & Wollensky (the famous steak house for you hippies, hill-folk, and yogis) has had its ear to the ground because it just kicked off a "Steak-for-stock" deal at its restaurants. This is no joke. Bankers can now take their bonus payouts, which this year were largely paid in stock, and trade them in for lunch or dinner at S&W.

The basic idea here is that S&W, not frequented by the common man, would lose a ton of business if these bankers don't have a lot of disposable cash lying around. So now they accept stock, fat-cats can maintain their girth and servers can keep their jobs. I'm all for the latter at least. S&W kicked this off with a full-page ad in the New York Times.

Side note: Alan Stillman whose company owns Smith & Wollensky started his restaurant empire in the 70s by opening his first TGIFriday's with a $5000 loan from his mom. What?!