The Weekly Treasure, Week of November 20th, $1M beef cellar

Stay Updated with Finance and Economy News | The Weekly Treasure
Ben Verschuere - Chief Investment Officer
November 20, 2023

Hi Treasure Friends,

We hope you are well ahead of the shortened week in the US. The big news in the economy last week was inflation cooling down; now back to 3.2% on an annualized basis.

What the Treasure Team is reading​

​​From the Treasure chest...

$1M beef cellar: Finally,  Peter Luger Steak House Las Vegas is open for business, providing its famed, butter-bathed porterhouse and ribeyes to carnivores in Sin City. But the new location is not an exact replica of the no-frills, cash-only Brooklyn flagship, where the brusque service and always-crowded tables are almost as famous as the well-aged meat. For one thing, there’s the sheer volume of steak on site. The new steakhouse, which threw open its doors in Caesars Palace Las Vegas Hotel and Casino on Nov. 1, just in time for the inaugural F1 Las Vegas Grand Prix, has a 14,000-square-foot footprint. (It replaced another legendary New York dining room, Rao’s.) About 20% of the new restaurant is dedicated to a lower-level dry aging room that’s filled with USDA prime beef.  “We’ve got well over $1 million of beef aging in that room,” says Daniel Turtel, vice president of Peter Luger. His great-grandfather Sol Forman purchased the steakhouse in 1950 from its founder, Peter Luger, who launched the original location in 1887.

Have a great week!

The Treasure Team

📥 Interested in receiving our curated headlines directly to your inbox every Monday? Don't miss out – subscribe to our newsletter:

More from the Blog

Data used in post
The Numbers Don't Lie: How Embedded Investing Slashes Deposit Costs

By offering low-risk, high-yield investment options alongside traditional deposit accounts, banks can significantly reduce their funding costs while keeping customers happy. How much money are we talking about?

Read More
EconomyJune 2024 Economic Snapshot
June 2024 Economic Snapshot

Treasure's Chief Investment Officer provides you with a quick 2 minute overview of what happened last month in the financial world.

Read More
data, dollars and APIs
Data, Dollars, and APIs: The Balancing Act

Not all APIs are created equal and companies should pay attention to these elements as they make the decision between build and buy and ultimately choose the right API partner. 

Read More
Treasure Technologies Inc.
447 Sutter St
STE 405 PMB 25
San Francisco, CA 94108
Website is operated by Treasure Investment Management, LLC ("Treasure"), a wholly-owned subsidiary of Treasure Technologies, Inc., and an investment adviser registered with the U.S. Securities and Exchange Commission ("SEC"). Brokerage services are provided to clients of Treasure by Apex Clearing Corporation ("Apex"), an SEC-registered broker-dealer and member FINRA.

Investing involves risk, including loss of principal. The contents of this website are provided for information purposes only and do not constitute an offer to sell or a solicitation to buy securities. Past performance is no guarantee of future returns.