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Houston's Landry's Restaurants on a list of companies that may not survive 2009


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15 Companies That Might Not Survive 2009

Rick Newman

Friday February 6, 2009, 11:53 am EST

Yahoo! Buzz Print Who's next?

Six Flags. (SIX; about 30,000 employees; stock down 84%). This theme-park operator has been losing money for several years, and selling off properties to try to pay down debt and get back into the black. But the ride may end prematurely. Moody's expects cash flow to be negative in 2009, and if consumers aren't spending during the peak summer season, that could imperil the company's ability to pay debts coming due later this year and in 2010.

Blockbuster. (BBI; about 60,000 employees; stock down 57%). The video-rental chain has burned cash while trying to figure out how to maximize fees without alienating customers. Its operating income has started to improve just as consumers are cutting back, even on movies. Video stores in general are under pressure as they compete with cable and Internet operators offering the same titles. A key test of Blockbuster's viability will come when two credit lines expire in August. One possible outcome, according to Valueline, is that investors take the company private and then go public again when market conditions are better.

Krispy Kreme. (KKD; about 4,000 employees; stock down 50%). The donuts might be good, but Krispy Kreme overestimated Americans' appetite - and that's saying something. This chain overexpanded during the donut heyday of the 1990s - taking on a lot of debt - and now requires high volumes to meet expenses and interest payments. The company has cut costs and closed underperforming stores, but still hasn't earned an operating profit in three years. And now that consumers are cutting back on everything, such improvements may fail to offset top-line declines, leading Krispy Kreme to seek some kind of relief from lenders over the next year.

Landry's Restaurants. (LNY; about 17,000 employees; stock down 66%). This restaurant chain, which operates Chart House, Rainforest Caf

Edited by citykid09
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Perhaps someone other than Fertitta will keep the restaurants open, with improved quality. Saltgrass was a favorite place to get dead cow before Landry's applied the cone of mediocrity. Landry's was a great restaurant pre Fertitta. The concepts are generally OK, but the execution is lacking. The only reason I eat at one of Landry's not so fine establishments is because my 6 year old insists on going to the Aquarium, or my parents take us out and pick Saltgrass.

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Whoever buy SiriusXM's shares is a moron. Most of their subscription is thru sale of new cars, and so far I've not seen anoyne who renewed after the introductory period. What do I need satellite radio for when the car comes with 6 CD player, local radio, I have an ipod and a laptop, and I don't live in the car.

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Whoever buy SiriusXM's shares is a moron. Most of their subscription is thru sale of new cars, and so far I've not seen anoyne who renewed after the introductory period. What do I need satellite radio for when the car comes with 6 CD player, local radio, I have an ipod and a laptop, and I don't live in the car.

Quite a few people re-up. Problem is their costs are out of control. Launching satellites is spendy.

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I have had XM radio for 7 or 8 years and it didn't come with either of the cars I have had in that time period. I paid 10.99 a month initially, but got my dad on my plan and I paid 6.99 a month for the second radio, eventually he took over the payments. :rolleyes: . Rate has never changed I guess we are grandfathered in as I understand they have gone up. I really enjoy it on road trips, but I miss some of the channels that I lost in the merger.

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I have had XM radio for 7 or 8 years and it didn't come with either of the cars I have had in that time period. I paid 10.99 a month initially, but got my dad on my plan and I paid 6.99 a month for the second radio, eventually he took over the payments. :rolleyes: . Rate has never changed I guess we are grandfathered in as I understand they have gone up. I really enjoy it on road trips, but I miss some of the channels that I lost in the merger.

Sirius/XM tried to eliminate repetitive radio formats but ended up gutting some stations that were independently loved by their subscribers (Backspin, the Hip-Hop oldies station, comes to mind) and so after numerous complaints, they've brought back some of those channels they eliminated right after the merger.

The main problem, however, as was mentioned earlier, is that their costs are still out of control. I believe they charge $30 / month or so for a subscription but the satellite licenses/operations and such are expensive.

Edited by The Great Hizzy!
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Sirius/XM tried to eliminate repetitive radio formats but ended up gutting some stations that were independently loved by their subscribers (Backspin, the Hip-Hop oldies station, comes to mind) and so after numerous complaints, they've brought back some of those channels they eliminated right after the merger.

The main problem, however, as was mentioned earlier, is that their costs are still out of control. I believe they charge $30 / month or so for a subscription but the satellite licenses/operations and such are expensive.

No No, the subscriptions start at 9.99 a month with the most popular plan at 12.95 a month. Only since the merger have they introduced a plan that is the highest ever 16.99 a month, for every thing on XM and the best of sirius

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Why the hate for Landry's. Its the typical self loathing Houston mentality. That's why out of town businesses come here and take over from local businesses. I wish Houston kept and grew Randall's, Oshman's, Foley's, etc. I for one am hoping Landry's can keep its act together. Houston needs more companies that do business outside of Houston and bring profits home.

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Why the hate for Landry's. Its the typical self loathing Houston mentality. That's why out of town businesses come here and take over from local businesses. I wish Houston kept and grew Randall's, Oshman's, Foley's, etc. I for one am hoping Landry's can keep its act together. Houston needs more companies that do business outside of Houston and bring profits home.

You are so far off the mark, you are not even in the same county. Most everyone that expresses disdain for this company has very specific and personal reasons. Some have specific information that led to the opinion of the owner and the company. I will not go into my reasons on this forum, other than to reaffirm that you have no idea what you are talking about.

BTW, if you look around at my posts, you know that I am a Houston homer, not the self-loather that you attempt to paint me.

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You are so far off the mark, you are not even in the same county. Most everyone that expresses disdain for this company has very specific and personal reasons. Some have specific information that led to the opinion of the owner and the company. I will not go into my reasons on this forum, other than to reaffirm that you have no idea what you are talking about.

BTW, if you look around at my posts, you know that I am a Houston homer, not the self-loather that you attempt to paint me.

Wow, why so defensive? And did I single you out when you didn't even respond to the OP?

Edited by texas911
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Why the hate for Landry's. Its the typical self loathing Houston mentality. That's why out of town businesses come here and take over from local businesses. I wish Houston kept and grew Randall's, Oshman's, Foley's, etc. I for one am hoping Landry's can keep its act together. Houston needs more companies that do business outside of Houston and bring profits home.

Did you ever go to Kemah before Landry's bought and ruined it?

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Did you ever go to Kemah before Landry's bought and ruined it?

Heck ya, loved going to the Brass Parrot, it was my group of friends "secret" hang out, but please don't tell me that you consider the boardwalk a failure? That place is great, in fact, I wish Landrys would expand it. If you think its ruined now, then that's just evidence of self loathing. Note to all you high and mighty, just because its popular doesn't make it bad.

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please don't tell me that you consider the boardwalk a failure? That place is great, in fact, I wish Landrys would expand it.

I have to agree. The Aquarium downtown, the Kemah boardwalk are two examples where Landry's brought revenue to an area that had none or little before.

I can't imagine the City of Kemah complaining about the increase number of local jobs and increased number of tourist dollars spent - as well as something more for the locals to do. As for the Aquarium downtown, that area was struggling before so I can't see how the Aquarium hurt the area any.

I think we need to save the loathing for independent restaurants that Landry's bought out and lowered the bar on.

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Just because people publicly express their dislike for a chain of food establishments or their proprietor does not equal self-loathing or autophobia :rolleyes:

As for the critique of the entire Kemah boardwalk, I have no clue since it's been ages since I've been there.

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Heck ya, loved going to the Brass Parrot, it was my group of friends "secret" hang out, but please don't tell me that you consider the boardwalk a failure? That place is great, in fact, I wish Landrys would expand it. If you think its ruined now, then that's just evidence of self loathing. Note to all you high and mighty, just because its popular doesn't make it bad.

You are correct. Popularity doesn't make it bad. Serving overpriced frozen fish instead of cheap fresh fish is what makes it bad. I didn't say Kemah was a failure, I said Landry's ruined it. Why should I like Landry's for taking something good and making it bad, even if they make a lot of money in the process?

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You are correct. Popularity doesn't make it bad. Serving overpriced frozen fish instead of cheap fresh fish is what makes it bad. I didn't say Kemah was a failure, I said Landry's ruined it. Why should I like Landry's for taking something good and making it bad, even if they make a lot of money in the process?

Your opinion not withstanding...

Others are saying it is not worse. I tend to believe they did not get to experiance the restraunts that were there before. They were cheaper and better as I remember them. But, that was a different time and you know how we tend to wax nostalgic about the past and memories do tend to fade. There are still places to go to find the good seafood there on the other side of the bridge or down the road in San Leon.

If the masses knew of all the good places, they would not be the same anymore.

Of course it is all subjective.

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Some of those companies need to go under due to the arrogance of their management and board of directors. I cannot speak to the Landry's issue, but some of these seem to have made an awful lot of very bad management choices.

Sirius and their multi-billion dollar payouts to radio TALENT is one of them. Maybe the government can take over their satellite systems and use it for something more useful than 800 channels of radio.

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Your opinion not withstanding...

Others are saying it is not worse. I tend to believe they did not get to experiance the restraunts that were there before.

No, one other (texas911) says Landry's Kemah operation is "great" because it isn't a failure. I've eaten there and I don't care if it's a failure or not; I know it isn't great. It's frozen dinners. I can have that at home.

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Your opinion not withstanding...

Others are saying it is not worse. I tend to believe they did not get to experiance the restraunts that were there before. They were cheaper and better as I remember them. But, that was a different time and you know how we tend to wax nostalgic about the past and memories do tend to fade. There are still places to go to find the good seafood there on the other side of the bridge or down the road in San Leon.

If the masses knew of all the good places, they would not be the same anymore.

Of course it is all subjective.

This is exactly correct. In much the same way that someone may like shiny new plastic over old brass with a patina, some prefer the gaudy new boardwalk over the restaurants and bars they replaced. But frankly, the boardwalk did not improve so much as replace. The boardwalk is now a nice place to take children in strollers, whereas before it was a great place to have a drink. And Landrys has done that with every concept it has bought. If critcizing a company for replacing authenticity with bland mass appeal is "self loathing", I suppose I could accuse those who actually like this stuff as "Stepford consumers".

But that would be mean, wouldn't it?

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No, one other (texas911) says Landry's Kemah operation is "great" because it isn't a failure. I've eaten there and I don't care if it's a failure or not; I know it isn't great. It's frozen dinners. I can have that at home.

I agree with you about the quality of the food but it's a family oriented place and they are all the same whether it's Landrys, Applebees, Dead Lobster, etc.

I loved going to those places when I had kids but stay away from them now.

The Kemah Boardwalk is still a fun place to spend a day and I hope it stay's around.

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A lot of family & friends in Louisiana made a lot of weekend trips to Galveston & the Boardwalk (with their kiddos). Atleast the food isn't as bad as Chili's! They buy their food from the same company as Sonic. Its fast food in a sit down setting. Always get sick after eating there.

Anyways, it's a shame their food sucks, and the company made bad choices. But it's a Houston company none the less.

And Randel's sucked. Way over priced, most of their layouts didn't make sense, although they did have a selection of certain items Kroger's didn't back in the day.

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I agree with you about the quality of the food but it's a family oriented place and they are all the same whether it's Landrys, Applebees, Dead Lobster, etc.

I loved going to those places when I had kids but stay away from them now.

The Kemah Boardwalk is still a fun place to spend a day and I hope it stay's around.

My dad used to take me to Kemah when I was a kid. I wouldn't dream of taking my daughter there. Family place? Maybe if you hate your family.

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Did you ever go to Kemah before Landry's bought and ruined it?

Yes, and it was always flooded. There was nothing more frustrating than having dinner at the Cleer Creek Inn, Jimmy Walkers or Key Largo, and then comming out to your car, only to find it hub cap deep in high tide. I personally think the boardwalk, and every thing Fertitta, Wiggins and King have done to Kemah is an improvement over what used to be there.

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Six Flags will make it thru...I'm worried about Sirius though...They took over my XM and butchered my music. Guess we'll see tomorrow.

Yes, and it was always flooded. There was nothing more frustrating than having dinner at the Cleer Creek Inn, Jimmy Walkers or Key Largo, and then comming out to your car, only to find it hub cap deep in high tide. I personally think the boardwalk, and every thing Fertitta, Wiggins and King have done to Kemah is an improvement over what used to be there.

I agree, People keep bashing fertita...I think he has done a good job with kemah. I don't see why people hate the food/talk smack. I often go in the evening ride a few rides and eat. It's not bad PLUS the constant wind from the ocean makes you forget where you are.

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