{"id":2101,"date":"2009-12-14T13:44:38","date_gmt":"2009-12-14T21:44:38","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=2101"},"modified":"2009-12-14T13:44:38","modified_gmt":"2009-12-14T21:44:38","slug":"the-green-is-gone","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/the-green-is-gone\/","title":{"rendered":"The Green is gone"},"content":{"rendered":"

This story about the demise of Tavern on the Green is a story of failure<\/a> by a young heiress to keep alive her father’s fabulously successful restaurant.\u00a0 Tavern was a New York institution for 30 years run by Jennifer LeRoy’s father.\u00a0 When her father passed away, giving his 22 year old daughter control of the business, the first thing she did was scrap his incentive plan:<\/p>\n

\u201cTavern made an incredible profit,\u201d says Mr. Coyle, adding that top managers “earned hundreds of thousands of dollars in bonuses,\u201d and that his bonus allowed him to purchase a Porsche.<\/em><\/p>\n

The bonuses were based on a generous profit-sharing plan implemented by Mr. LeRoy, who was known for his excesses. Ms. LeRoy can be credited with a more fiscally conservative approach to running the business. Shortly after she took over, the bonus program was restructured. Managers were given a guaranteed amount based on their salary, not on the restaurant’s profits. It would be the first of several major moves as Ms. LeRoy put her stamp on the restaurant and grew into her role.<\/em><\/p><\/blockquote>\n

While there are many possible reasons that a business that had survived everything from New York’s near-brush with bankruptcy, a Central Park that could not be risked entering after dark, and everything else since, the end of the story is that she got what she paid for.<\/p>\n","protected":false},"excerpt":{"rendered":"

This story about the demise of Tavern on the Green is a story of failure by a young heiress to keep alive her father’s fabulously successful restaurant.\u00a0 Tavern was a New York institution for 30 years run by Jennifer LeRoy’s father.\u00a0 When her father passed away, giving his 22 year old daughter control of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,13],"tags":[],"class_list":["post-2101","post","type-post","status-publish","format-standard","hentry","category-executive-compensation","category-history"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=2101"}],"version-history":[{"count":1,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2101\/revisions"}],"predecessor-version":[{"id":2102,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2101\/revisions\/2102"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=2101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=2101"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=2101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}