Note to The Economist: read the newspapers!
All The Economist has to do (see previous post) is read the press. Here are a couple of relevant items. What’s bad for restaurants is good for Kraft Foods. Its sales of all those packaged foods are growing. That’s what people are eating instead of going out, apparently. Next, the parent company of two restaurant chains–Bennigan’s and Steak & Ale–in the “casual dining” sector filed for bankruptcy. Why? Higher food costs and fewer casual diners. And McDonald’s is about to give up its popular dollar menu. I suppose there could be an upside to this, but I’m dubious. You think so? Go tell The Economist.