The NYSE is closing its dining club, citing rising costs, lower membership and, of course, 9-11. (When we hit the decade, we assume blaming 9-11 will seem sufficiently ridiculous that people will stop doing it. But we usually give people too much credit.) At any rate, the club was at its peak... guess when. Guess. Just guess:
The Luncheon Club hit its heyday in the early 1980s, when it served up to 500 meals a day, according to one report. The club occasionally served as a backdrop for inter-member skullduggery, with four separate NYSE disciplinary actions over the years arising from misuse of members club charge accounts.
We predict that this is just harbinger for the decline of dark-paneled private clubs in general. (Except the Racquet Club. And the University Club. And the Century Club. And the Union League Club...)
NYSE Ditches Dining Club [NYPost via WSF]
Posted by Jerry, Apr 28, 2006 5:02PM
You cite a bunch of seemingly prosperous uptown clubs, seemingly to disprove the thesis that LUNCHEON clubs are in trouble, but don't mention the legion of downtown luncheon clubs that have disappeared, e.g. Bankers Club, Lawyers Club, and, beyond the luncheon club, theDowntown Athletic Association. The exodus of Wall Street from Wall Street and the lack of dinner/private event business has done the downtown luncheon club in.