Cafe Exedra

Obviously we can't know the motivation behind the seller and as we all know, there are many different reasons for someone to sell a business.

Does the price include the real estate? Did they have title to the lot on the corner? I'm sorry - I haven't picked up on that yet. If so, then the business itself is getting a lower valuation than $1.3M, as I imagine the land price takes up a nice piece of the purchase price.

But then that leads on to the question of whether you'd sell property today in central Buenos Aires. This is probably a discussion for another thread, but I'd have to take a hard look at where I think property values are going.

[QUOTE=Sidney]Actually, the return is nearer 9%. I would never accept that low of a return. I would require 20+% return on my capital to own an AR business. Oh well, It's all assumptions anyway![/QUOTE]If you can get 9 or 10% above inflation, it's not a bad investment. Inflation in Argentina is running about 20%. If he can raze prices every year by inflation, and keep a minimum of 9% profit on top of that, that not bad place to put your money. Plus it's not clear if he owns the space too, that value of the real estate should go up over time too. One of the best defenses against hyperinflation is property.

Lately there have a lot of Chicas from Exedra still there, standing in front waiting for you. The drinks do not cost anything, because the bar is closed, but you can get one nearby at La Madeleine or at l'Alliance.

Tonight there was a least 5 to 10 at different times.

Librarian 3 is there and at La Mads and Castelar, with a couple her blond amigas.

And which are the bad ones? I see lots there, but have only pulled a few of them.

Sorry guys, it does not look good for the future of Exedra.

At this very moment there is an auction going on. All the kitchen utensils and glassware. If you guys want glasses with their logo on it, you had better hurry.

You might have trouble finding the place, because it is so fucking smoggy, you will have a hard time seeing it from across 9 de Julio.

I bet they do not have smog alerts in B.A.

I thought I was in L. A.

[QUOTE=WorldTravel69]Sorry guys, it does not look good for the future of Exedra.

At this very moment there is an auction going on. All the kitchen utensils and glassware. If you guys want glasses with their logo on it, you had better hurry.

You might have trouble finding the place, because it is so fucking smoggy, you will have a hard seeing it from across 9 de Julio.

I bet they do not have smog alerts.

I thought I was in L. A.[/QUOTE]Looks like a job for ace investigative reporter Aqualung. Wherefore art thou Aqualung?

[QUOTE=Doggboy]Wherefore art thou Aqualung?[/QUOTE]"... Sitting on a park bench, watching little girls with bad intent..."

I'll have to see what my informers have to say!;)

[QUOTE=WorldTravel69]Sorry guys, it does not look good for the future of Exedra.

At this very moment there is an auction going on. All the kitchen utensils and glassware. If you guys want glasses with their logo on it, you had better hurry.

You might have trouble finding the place, because it is so fucking smoggy, you will have a hard time seeing it from across 9 de Julio.

I bet they do not have smog alerts in be. A.

I thought I was in L. A.[/QUOTE]If someone paid $1,300,000 for Exedra, it make no sense that it not re-open. [url]http://www.criticadigital.com/impresa/index.php?secc=nota&nid=1450[/url] It's also possible this article is false?

If someone did pay 1.3M for it, then maybe the name is changing. Maybe a Court order the sale, to pay off x employees. But it should open at some point if someone paid so much for it.

What I was told by Michel who is working out of Iberia now, that all the x employees have settled, except for one, who wants more money, and it will go to trial. She told me this about 2 or 3 weeks ago. Also said the new owner was going to control, which girls work there and which can not. She did not explain how she knew all this. She said the old man who died, used to control which girls worked there before he died.

Maybe they'll be changing the name, or such of Exedra. I know that they kept troublemaker chicas out, I never heard of any chica getting booted for no reason. I think the new scheme, as it's been detailed, is vastly different. Basically like Cafe Orleans, where they chicas pay to be allowed a table (or a certain amount of consumption)

I have no interest in an Orleans style place, as you get a more rushed service, and you end up paying substantially more that if you deal with a chica that doesn't have the high overhead.

I can tell you that $1500.00 dollars a month for a fucking waiter is way out of line boys! Not even in the USA is that possible.

The Mafia (read restaurant worker's union) tells me what to pay the waiters and dishwashers, etc, etc.

The pay scale is set according to the level of the resto-bar.

1 star.

2 star.

3star.

4 star. (actually they are called ¨tenedor ¨ or forks?)

Tablecloths on the tables being the highest level or even serving Lomo I believe.

Anyway, the highest paid waiters are paid about 1500 - 1800 pesos with a large part of their pay going to retirement, pensions, medical care, etc.

Nobody makes 4500 pesos a month as a waiter on salary alone!

600 to 800 for a waiter or kitchen hand is normal. A chef or parrillero will be the highest paid mf! (always pesos on this boy's blogs!)

The Mafia even tells me what they can and cannot do as part of their job!

Dishwashers cannot clean floors and windows or bathrooms, etc. The MFs!

Just lost my first lawsuit. More to follow I'm sure! The MFs!

X shall return. But no one knows what it will be. Least of all a fat, pale, overfucked and overpriced street *****!

Cheers,

TL.

P. S - Missed the damn auction but I was going to buy all of the items that had X's logos on them. Damn it.

Makes me wonder why a bar would sell all of the resto-bar equipment. Many things were basic kitchen utensils and ovens, stoves, fridges, etc. MAKES NO SENSE if they are going to re-open as a food and or drink establishment. Only a totally custom kitchen but even then?

Selling ALL the old crap at big E only reinforces the speculation that a big chain food purveyor will occupy our favorite corner. They never deal in used.

Food prep stuff. (read Feddo / Volga, Mc Fatty d, or Bugger King)

Jackson, start a poll to guess the next operation to fill the Exedra space.

Jackpot

[QUOTE=Jackpot]Selling ALL the old crap at big E only reinforces the speculation that a big chain food purveyor will occupy our favorite corner. They never deal in used.

Food prep stuff. (read Feddo / Volga, Mc Fatty d, or Bugger King)

Jackson, start a poll to guess the next operation to fill the Exedra space.

Jackpot[/QUOTE]The owners of Rond Point plus some other bars and coffee shops.

[QUOTE=Jackpot]Selling ALL the old crap at big E only reinforces the speculation that a big chain food purveyor will occupy our favorite corner. They never deal in used.

Food prep stuff. (read Feddo / Volga, Mc Fatty d, or Bugger King)

Jackson, start a poll to guess the next operation to fill the Exedra space.

Jackpot[/QUOTE]The article says the new owner is Rafael Pereira Aragón, who owns Rond Point, Las Violetas and el Café de los Angelitos.

No one knows his plans for the place. I think he will keep the girls, since it brings more buiness. But no one knows, except Michel :). Just kidding TejanoLibre.

It's in spanish.

[url]http://www.criticadigital.com/impresa/index.php?secc=nota&nid=1450[/url]

Tessan - This article has already been translated here by Rocking Bob:

[url]http://www.argentinaprivate.com/forum/showthread.php?t=2011&page=3&pp=15[/url]

According to my informers;)

The idea is another Rond Point style coffee shop aimed more at the Argentine business man, the local Jet Set and high class tourists than at the mongering crowd. This does not necessarily exclude girls but it will set a standard for the quality of the girls. Models and so on!

This means the upping of everything from cutlery to tables and chairs. This is why they have auctioned off all the old stuff.

Someone who has spent 1.3 million on a bar isn't going to worry about spending another hundred grand or two!

We'll see how much of this is true