Sold – Carney’s Corner!

I agree. There’s no longer a current narrative here, what with my dropping the story for the last several years. Unless you’re either a die-hard fan, or else possess a photographic memory, you’ve forgotten about Carney’s Corner, and Michael’s.

What’s that? Those names mean nothing to you? Those are my dinner and lunch jobs, respectively.

Carney’s had a big change of life recently. Carney (69) and her husband, Harry (73), sold the place. Rumor has that it went for around $500,000.

As usual, there was no drama too great or small, too absolutely insane or merely neurotic, for Carney not to partake.

More than a year ago, the restaurant went on the block, and the winning suitor was a waitress at Carney’s Corner, Marilee. She convinced her husband that it was a good deal at the full asking price of $700,000. Lots of things happened in the direction of consummating the deal: liquor license changed hands, service accounts billings were changed, cameras were installed, an employee meeting with the new owners (Marilee and hubby) transpired, managers were interviewed, and more. Meanwhile, Marilee and her husband were awaiting financing for their cash purchase. (Carney & Harry wanted to carry paper: for tax reasons, for a steady income, and for the unstated chance they could regain ownership in the event of default. Thus, the cash purchase decision, as Marilee didn’t want to risk paying for five years, then encountering an economic downturn, and losing the restaurant.)

Problem was, they were getting private financing through a friend of Marilee’s husband. The friend knew this heroic character who was a Puerto Rican guy with too much money overseas and who needed ways to get it into the country. So he was willing to lend it to them interest-free.

I’m sure this is already sounding familiar to you. Now, this is only grapevine information, but my grapevine includes two branches who are sisters of Marilee. Grapevine says the lender needed $200,000 from Marilee and hubby to match the funds, or some such mumbo-jumbo. Grapevine says they paid it.

Next comes 12 months of Marilee getting jacked around by the financier: ‘Money will be in the account next Thursday, available for wire transfer five days later.’ That’s a typical TEXT message. TEXT message. Yes, this was his exclusive means of communication. Never mind written letters. Not even an email. Marilee showed me a few of his TEXTs.

Anyway, that Thursday would come, five days would pass, and there would be some snag. Of course this went on forever. Harry and Carney were beside themselves because the fucking deal couldn’t go into escrow. Yet, they were screwed by their own greed because they stood to get 40% more than they deserved if only this pipe dream could come true.

It never did. My belief is 50-50: either Marilee got burned by the old Nigerian scam and was too embarrassed to admit it, or else that was kind of what she was letting ‘inside’ people believe. As to the last possibility, what really might have happened is that she and the hubby got advice/realized they were WAY overpaying (by $200k) and began sandbagging to weasel their way out of it in a politically correct fashion.

Either way, eventually Carney and Harry lost patience and scuttled the deal.

The next buyer was well-funded and pretty professional, having 4 other restaurants as part of their general group already. They made an offer and six months later they took possession.

They fired the entire staff.

Then rehired everyone immediately, except for a two-shift bartender who had bad blood with one of the minority owners going back more than a decade. Our employee discount was increased from 20% to 30% (big whoop). But our precious ‘shifters’ (2 free drinks at the end of your shift) were eliminated. Later, Sofiando, the new manager/part-owner, would allow shifters on Saturday. Only. Which didn’t make much sense, but considering I always work Saturday, and because I largely hadn’t partaken of shifters for five or six years anyway, I’m not complaining.

restaurant-dinosaur
Woolly Mammoth Restaurant Dinosaur

Sofiando is a dinosaur of the Beach City-area restaurant scene. He’s 71, I believe. He’s had major stints (10 years or more) at companies like the Red Onion (going way back), at another local institution steak house in Beach City, and (prior to taking over Carney’s) at the biggest oceanfront seafood place in Beach City. In the process of being a restaurant dinosaur, he concurrently accrued status as a local bar patron dinosaur – Carney’s Corner being one of his favorite tar pits in which to get stuck. So, I’ve known Sofiando for the whole 12 years I’ve worked at Carney’s. This long relationship has at times included literally sitting down having drinks with him. And having drinks with him in other establishments. In summary, I’m in good with my new boss.

Another nice thing about a dinosaur is that he likes things the way they were the previous million years. Soooo, Carney’s Corner has not experienced any big changes under the new ownership. Nor does the new owner want to make many changes.

Philosophically, I couldn’t care less about the changes situation. But as a practical matter, I want things to stay the same until the loyal clientele feels there is nothing to worry about – Carney’s isn’t going to go downhill.

I will also admit to the common mammalian preference for familiarity vs. constant change. When things go well, as they did at Carney’s, I’m in no hurry to shake it all up.

Anyway, through 2 months, I think we’re doing fine. Here are the significant changes:

  1. Ranch dressing now offered.
  2. Sourdough bread instead of French bread.
  3. Soup of the day now offered.
  4. Dessert prices reduced by $2.

Yep. That’s all.

Business is off by about 20% these first two months, and I can’t figure out why, considering essentially nothing has changed. Probably, it’s just a psychological thing for the guests. Carney is gone, so it’s over for them (a certain subset of ‘them’).

However, the last two weekends have been busy, back to Carney-ownership levels. I’m starting to believe the dip was just something that had to happen, while we held the line. And as we continue to do so, everyone will come back. It seems to be happening.