Once again, Fleming’s Prime Steakhouse & Wine Bar is offering a winter prix fixe menu to lure in diners whose budgets would otherwise balk at the idea of going out to a pricey steakhouse. We saw this a lot last winter, too, with white tablecloth establishments such as Ruth’s Chris Steak House.

But look for a slight change this year — prices are up. Fleming’s prix fixe menu this winter is $39.95 per person, compared with $35.95 last winter. This year’s menu also doesn’t include a glass of wine (although this year’s dessert beats last year’s milk and cookies).

Ruth’s Chris prix fixe menu has stayed the same at $39.95. But here’s another kicker — Baltimore’s Winter Restaurant Week meal prices have also gone up about $5 to $35.10. (Restaurant Week dinners were $30.09 last winter).

In covering the restaurant industry, I heard a lot over the last year about food costs going up for restaurateurs who didn’t want to pass on that price increase to their customers for fear of losing them. How much of these price increases do you think are a result of restaurant owners finally just upping their prices to stay afloat — or are they upping the prices because the economy seems to be inching back up?

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I came across a great piece today on the abysmal year its been for advertising firms that have seen their revenues plummet and have instituted mass layoffs. (Not much different from any other major company out there in 2009, come to think of it. But that doesn’t mean it stings any less.)

I highly recommend you read the whole article in the Wall Street Journal. But the gist of it is that ad firms saw unprecedented growth and creativity in the early part of this decade with the dot-com explosion only to finish out the decade with unprecedented cuts and downsizing (if not the total failure) of businesses.

And 2010 doesn’t look like it’s going to be much better, says Maurice Levy, chief executive of Publicis Groupe, one of the world’s largest ad companies.

Ad spending (which fell an estimated 10 percent in the U.S. this year) is expected to remain flat at best in 2010. Some say spending could slip again as far as 2.6 percent in the U.S.

Where did all the car ads go? Ad spending by U.S. automakers fell by 30 percent in 2009 and ad executives don’t expect the companies to return to their pre-recession advertising any time soon.

Lastly, while Washington may be bailing out the Big Three and other major companies, stiffer regulations passed by Congress are limiting the advertising world. In 2010, legislators may consider passing regulations on food advertising aimed at children, among other laws.

So I wonder what the long term effect will be for ad firms? In the earlier part of this decade, we saw larger agencies swallowing up smaller ones — but in 2009 those behemoth firms were the ones that had to make the biggest cuts in their workforce.

The last few years have been characterized by the popularity of boutique firms and specialty shops.  Nowadays it’s rare to find a major company that doesn’t have a contract with at least two advertising firms. Will boutique firms be the way of the 2010s? Or will the cycle start all over again in a few years when (if) the economy picks up?

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Owens is also the host of Baltimore’s longest running Public Affairs show, 2 The Point.

After longtime reporter (and recently turned anchor) Terry Owens announced he would be leaving WMAR, the station is in the interesting position of not having an anchor from 4 p.m. to 11 p.m. in less than two weeks. (Hat tip to David Zurawik for breaking the news.)

Owens is the second anchor to take a buyout at the station after Mary Beth Marsden took one last week. Her last day is Dec. 2.

Station vice president and general manager Bill Hooper said the station is not revealing who has taken a buyout until they are final, but he did say the two anchors are the only ones that have “signed the paperwork” for a buyout. The buyouts began this fall and close in a couple weeks (Hooper would not be more specific).

Owens has been the anchor of the 5:30 p.m. nightly newscast for the last two years and a reporter for the 11 p.m. broadcast. He has been with the station for 15 years. Marsden anchored the 5 p.m., 6 p.m. and 11 p.m. newscasts and has been at the station for 21 years.

Hooper said Channel 2 would not be ready to announce their replacements until the buyout period is over. He said those who sign the buyout paperwork now still have the chance to change their minds before the period’s close.

“All that creates lots of moving…parts,” Hooper said. “We certainly have a plan. We want to move forward but didn’t want to announce anything until we’re done with that. Because, for example, Terry moving, that makes us move to plan ‘A,’ number two.”

And on top of the overhaul, WMAR’s ratings have been consistently in the bottom tier of Baltimore’s four network affiliates. But — aside from the sentiment of it all — I wonder how much two anchors leaving will matter in the grand scheme of things?

In this climate where viewer loyalty is slipping and ratings are becoming more dependent on the primetime lead-in to the newscast, I don’t know if any fewer people would watch WMAR after this month than they do now. But maybe the station can use it as an opportunity to rebrand itself with fresh faces and an aggressive marketing campaign.

But then again, buyout season usually means a business doesn’t has oodles of resources to spend on that kind of promoting. Will WMAR seek to make a big splash or just work on getting by?

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I never thought I’d see the day a high-end steak house would have menu items (other than soda) for less than $5. But a recession can make restaurants pull out all the stops.

In a promotion it’s calling $5 Prime Time, Baltimore-area Ruth’s Chris Steak Houses are launching a new menu this week and having a free public sampling Wednesday (today). The new menu features “small-plate” food items and drinks.

Food includes crab cakes, jumbo shrimp cocktail and mini kobe burgers. Drink options include select martinis, wines and domestic and imported brews.

Just goes to show that the recession is forcing some major creativity with restaurants — especially high-end ones that have the perception of being unaffordable when times are tough. Last year, Ruth’s Chris also launched a $39.95 three-course meal to combat that stigma.

Big Steaks Management, which operates the locations in Annapolis, Baltimore and Pikesville (which is not participating in the promotion), is not a public company, but Ruth’s Hospitality Group owns and operates most of the locations across the country as well as other high-end seafood and steak houses. That company struggled mightily in 2008, posting a loss of $53.9 million for the year compared with a profit of $18.1 million and $23.8 million in 2007 and 2006, respectively.

This summer, Big Steaks announced it was closing two of its other restaurants in Baltimore to focus on its steak houses and its other restaurant, Havana Club.

The Prime Time menu’s slogan is “Come for a drink, Stay for a bite,” so by no means will Big Steaks’ $5 menu items suffice for a dinner (unless you order a few for each person). But it does provide competition for appetizers and drinks at other bars and restaurants. For a couple dollars more, people can conduct some social business over drinks and an appetizer in a luxury setting. Your stomachs may not be as filled but you’ll look better doing it.

I only wonder — if you give a mouse a cookie, he’ll want a glass of milk. What happens when the economy starts improving for restaurants? Will all the deals go away at some point and if they do, will that anger customers?

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If you shop at Giant Food, you may be in store for a pleasant surprise this weekend — more little red-and-yellow discount tags.

The grocer launched a new initiative Friday that it says will double the number of sale items available to shoppers who are members of the company’s loyalty program. Along with new shelf tags and in-store signage, Giant is launching a redesigned loyalty card. Customers can register their card online and create a personalized profile, view store services and track their savings and reward programs.

The additional savings come at a time when family budgets are strained from back-to-school spending. (Click here to read more about how Maryland stores are doing on back-to-school sales.)

Shoppers can also do their part for the schools through Giant’s A+ Bonus Bucks every time they use their card. Since 1989, A+ Bonus Bucks has raised more than $79 million to help local schools purchase equipment and materials.

So, in the last year, Giant has redesigned its logo, introduced self-scan shopping and is rolling out more discounts. While I’ve heard from some Safeway shoppers they prefer the quality of the Safeway product (especially in produce) over Giant, in this economy, price and convenience are taking top priority with more and more people.

At what point should Safeway be concerned that Giant is wooing away its shoppers for good? And who’s next? Wegmans? Trader Joe’s?

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I had lunch yesterday at the B&O American Brasserie, the restaurant in the Hotel Monaco, which opened late last month. As the 1 p.m. hour rolled around, my fellow diners and I watched as the white tablecloth establishment filled up with people in suits and ties, demonstrating a need that was being filled: North Charles Street was wanting for a place with standard but upscale fare for a nice business lunch.

The Brasserie’s location at Baltimore and Charles streets next to dozens of law firms (the Law Offices of Peter G. Angelos among them) makes it primed to scoop up the crowd that before was likely walking the three or so blocks to the Inner Harbor to places like Sullivan’s Steakhouse, the Capital Grille or M&S Grille. Now before you start telling me me about places like the Sheraton Baltimore City Center Hotel (on Lafayette) or Tugs Bar & Grille (on East Saratoga) — yes, I know those are close to the Brasserie too.

But I’m talking about a section of North Charles Street between the harbor and Saratoga that’s primarily populated by casual dining places like the Charles Street Deli & Gourmet or Pizzeria Speranza. Nice for a quick bite with colleagues, but I wouldn’t close a deal there.

The Brasserie stands out from its Inner Harbor brethren by putting little twists on basically standard menu items. Instead of a straight steak salad, the romaine lettuce is grilled. The turkey club sandwich comes with an avocado and lemon peel relish. I had a crab cake sandwich that tasted pretty standard — but the side of fries really out-shined the main dish as they were lightly fried and the most potato-ey tasting fries I can ever remember having (that’s a good thing in my book).

I could write a whole other blog about the desserts, but suffice it to say they are well worth checking out (especially the strawberry rhubarb pie) if you are looking for a late-night bite.

The prices are about comparable to other white tablecloth restaurants downtown and all three meals are served: breakfast ($8-$16), lunch ($5-$19) and dinner ($18-$34). The atmosphere, inspired by the B&O Building in which the restaurant is located, is also nicely done with a muted blue/brown/cream color scheme, leather and cloth textures and booth seats styled to look like old-fashioned train seats.

All in all, it’s nice to have another option downtown serving American gourmet food with enough variety between breakfast, lunch and dinner it’ll take you more than a few trips to try everything. Now if only the economy would pick up…

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$23.7 trillion is a lot of money.

But before you get all upset about the potential price TARP cop Neil Barofsky said it could cost the federal government to bailout the financial system, you’ve got to see the conditions it would take to reach that sky-high cost.

Barofsky, the special inspector general for the Troubled Asset Relief Program known as TARP, wrote in prepared testimony for a Tuesday appearance before a House committee that support costs could reach $23.7 trillion, but his accompanying report noted that the estimate was pretty overstated.

According to analysis from The New York Times, here’s a list of some of the more outlandish things included in that number:

• maximum cost of programs that have been canceled or never got off the ground
• every home mortgage backed by Fannie Mae or Freddie Mac does into default
• all homes are worthless
• every bank in America fails with assets worth nothing
• Treasury would default on securities purchased by the Federal Reserve system

To get his $23.7 trillion figure, Barofsky added all the Federal Reserve programs at $6.8 trillion and determined the TARP program could end up costing $3 trillion.

Barofsky then added $4.4 trillion in other possible Treasury programs, $2.3 trillion in F.D.I.C. guarantees of deposits and $7.2 trillion from various mortgage-related programs

Even if the estimate was correct, the report acknowledges that double counting could come into play where more than one federal agency has provided guarantees for the same companies.

Treasury Department spokesman Andrew Williams called the figures “distorted.”

“These estimates of potential exposures do not provide a useful framework for evaluating the potential cost of these programs,” Williams told Bloomberg News. “This estimate includes programs at their hypothetical maximum size, and it was never likely that the programs would be maxed out at the same time.”

Williams said the government has spent $2 trillion so far, which kind of sounds puny when you think about Barofsky’s potential $23.7 trillion.

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The Ravens held their single-game ticket sales Friday morning and immediately sold out all eight regular season games, according to the team.

Fewer than 1,000 tickets remain for each of the Ravens’ two preseason games at M&T Bank Stadium: Aug. 13 against the Washington Redskins and Aug. 24 vs. the New York Jets (also a Monday Night Football game).

Tickets can be purchased by calling 410-261-RAVE (7283) or by visiting www.BaltimoreRavens.com or www.ticketmaster.com. M&T Bank Stadium ticket office windows opened beginning on Monday at 9 a.m. and will be open until 5 p.m., Monday through Friday, until the end of the season.

Well, that was fast…

Recessions may come and go, but Ravens fans remain crazy for their team. But I still wonder how we’ll see the impact this year from the belt tightening that’s going on with families everywhere. Will concessions sales be down at football games this year? Or are people cutting back in other places?

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Klaus Fritsch, co-founder of Morton’s The Steakhouse, was in Baltimore and Annapolis this week promoting the restaurant’s new cookbook, and I had a chance to speak with him Thursday.

Although this is the second Morton’s cookbook in three years, Fritsch, who is the author, said it will likely be the last. Or at least as long as he’s still around, it will be.

“We had a great reception from the first one, so we did a second,” he said.

“But I just don’t think there’s room for a third,” he added, pointing out the recipes in the books are also used in Morton’s restaurants.

After all, why buy the cow when you can get the milk for free?

All right, it’s not quite like that — after all these ingredients don’t come cheap, and sometimes the hassle of making the meal doesn’t outweigh the cost of going out. But what is interesting to note is the release of the cookbook also comes at a time when some Morton’s diners are turning to eating more meals in, according to Fritsch.

While that may be nice for cookbook sales, it doesn’t change the fact that dining room sales have decreased. But Morton’s isn’t alone, said Fritsch.

“Of course we’re affected by [the economy], but everybody has been,” he said. “Everyone’s having deals now to counteract that and so are we… But we’re an expensive place, let’s face it. On the other hand, if you really want a good steak, you’ll still go out for it.” Read the rest of this entry »

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Let’s face it — I don’t care how loyal you are or how much you love the history of baseball in this region, it’s not a good week to be an Orioles or Nationals fan.

Let’s start with the O’s: on Tuesday, Sports Illustrated came out with its best and worst owners list and guess who came in as the worst owner in baseball? You got it, our very own Peter Angelos. Since the lawyer bought the team for $173 million in 1993, the team has had two playoff appearances and posted a .486 winning percentage. Sure, the team’s value has more than doubled to $400 million, but one might argue the O’s could have been worth a lot more than that now.

Here’s what SI had to say: “[In 1993, the team] was a year removed from its Camden Yards debut with a stacked roster Angelos allowed former GM Pat Gillick to build….Then Angelos began his notorious meddling, firing popular manager Davey Johnson, burning through another five managers, killing trades proposed by his GMs and stripping down one of baseball’s proudest franchises.”

But I’d argue the Nats have it worse. Owner Ted Lerner, who bought the team in 2006 was named the fifth-worst owner in baseball. The team has actually gone down in value by $44 million from its purchase price of Read the rest of this entry »

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