The restaurant scene is much more competitive today, and the significant downsizing of Ruth's Chris' lunch business (it's now only open on Fridays) is evidence of new networking and entertaining trends. Whether it's a change in how the oilfield industry entertains, the "dress-down" attitude of the local business community, more professionals working from home and easier communication because of technology, networking in Lafayette is moving in new directions. And power lunches at pricey restaurants ' where extravagant meals and liquor can help secure a business relationship ' are no longer at the top of the list.
"Every industry has its own traditions, but I think people today are so busy that they use structured events to see people," says Henry Florsheim, the Lafayette Economic Development Authority's vice president. Florsheim surmises today's business community is under pressure to be more productive during the day.
Jerry Prejean, senior vice president/private banking manager at IberiaBank, says his clientele ' mostly doctors ' rarely commit to lunch meetings. "Their practices are busier, so it actually costs them to breakaway for lunch," says Prejean, who's gotten more creative in his efforts to nurture and secure business.
"We're doing more specialized entertaining," he says. For the Jerry Seinfeld performance in April, for example, the bank hosted a group of clients ' many in the same age group heading down similar career paths ' for a pre-show gathering in the courtyard at CafÃ© Vermilionville, a fine dining restaurant on Pinhook Road. There wasn't much talk of bank business, but it offered clients an opportunity to build new relationships. "They were impressed with the circle of clients that were there," Prejean says.
Bankers like Prejean may be taking their cue from pharmaceutical representatives who in recent years are turning to group entertainment to connect with doctors and introduce their products. "They are a phenomenal boon to our business," Ruth's Chris General Manager Patrick Fleming says of the drug company reps. "[But] again, that's all dinner."
Such after-hours schmoozing is alive and well, insists Fleming, but the clutter of restaurants in recent years has just made it too easy for people to make other choices for lunch. "They're every place now, and you're going to get more," he says. Competition was the driving factor behind the decision to shutter the lunch business in early July. Metairie-based Ruth's is primarily a dinner concept, and the Lafayette Ruth's was among only a handful of the chain's 39 corporate-owned restaurants that opened for lunch. Others in Louisiana include New Orleans and Metairie, along with Baton Rouge, one of 49 franchised stores. The company does not have plans to stop serving lunch at those stores.
Fleming worked as a landman in Lafayette from 1980-1986, so he knows how oil money flowed back then. Since that time, however, a lot of the white-collar jobs ' and the entertaining budgets ' have moved to Houston.
Fleming expects more restaurants to be dinner-only, saying it's a tough market for higher end eateries to make it during lunch. Outback Steakhouse, Doe's Eat Place (a new steak and tamale restaurant a block from Ruth's that also only opens for lunch on Fridays) and the Bonefish Grill location coming to River Ranch only serve dinner.
Open in Lafayette since 1977, Ruth's previous Pinhook Road site, a dark and musty space housed in a former college hangout, was the stereotypical hot spot for clandestine gatherings and big business deals ' much more so than the richly-appointed and airy current location, where it's been since late 1998.
Whether over lunch or at another type of social event, relationship building is critical to success, says LEDA's Florsheim. "Most people I know do business with people they know," he says.
That's the premise behind the Greater Lafayette Chamber of Commerce's annual Business Over Breakfast, biannual Eggs & Issues and monthly Business After Hours functions. Patricia Parks, the chamber's events coordinator, says the BAH has been held since 1985 and that more breakfast networking opportunities were added recently at the urging of the membership. "I think it's because a lot of them have children or other obligations after 5," she says.
The networking from Business After Hours, held from 5 to 7 p.m. at a different business each month, does tend to stretch later into the evening, Parks says. "Most people carry the party elsewhere. Any place downtown is fair game, and La Fonda is another popular place," she says. "It's probably more partying, if I had to guess, but it's very possible they're continuing the business conversation elsewhere."
According to at least one study, there's good reason to enjoy a couple of drinks after work. In a July 13 Wall Street Journal op-ed piece, Syracuse University associate professor Arthur C. Brooks writes of an association between drinking and higher earnings. Of workers identical in education, age and other characteristics, those who drank earned 10 to 25 percent higher wages (economists guess that moderate alcohol has health benefits that make people more productive ' or alcohol acts as a social lubricant). Beyond two drinks, wages tend to fall.
The study didn't address drinking at lunchtime.
Still, Ruth's of Lafayette is hoping the power lunch isn't dead. Fleming says the objective is to consolidate it into Friday business, and the plan seems to be working. "It's going great, and we're also seeing increases at night [during the week]," he says.
IberiaBank has a corporate philosophy that requires employees in its private banking division to network, and Prejean says golf and hunting outings are still big forms of entertainment, though he believes some level of business will always be done over lunch. He says Ruth's was a good place to impress a client.
"I wish [Ruth's] was open, quite frankly," Prejean says.
Time and time again, the Lafayette Parish School Board shows an overwhelming tendency toward idiocy, but Wednesday night’s contentious discussion over Northside High School’s teen mother program tops the list of dumb discussions.
“The accomplishment of this goal within the next ten years is not only critical for the region to effectively compete with other regions for residents and businesses, but also to provide an amenity for everyone in Acadiana to enjoy.”
Education Superintendent John White says a continued push to try to keep Louisiana from using tests associated with the Common Core education standards are creating "a state of chaos" for public school teachers.
Gov. Bobby Jindal's plan to use $210 million in surplus and one-time money to help balance next year's budget received the backing Thursday of the State Bond Commission, support that was needed for the maneuver to work.
State wildlife and fisheries agents have arrested a 39-year-old man accused of stealing crawfish.
An East Feliciana Parish lawmaker has jettisoned his proposal to make it harder for a condemned prisoner to appeal a death sentence.
Senators advanced a proposal Wednesday that would let the governor remove New Orleans-area levee board members for violating what he considers to be public policy, despite concerns it would introduce political meddling into state flood protection.
Here's your daily look at late-breaking national and international news, upcoming events and the stories that will be talked about Thursday, April 17, 2014:
Thursday's Blogs from the Bog!
The Lafayette City-Parish Council on Tuesday will vote on a resolution that if approved would clear the way for a December ballot proposition asking voters to approve a 1-cent sales tax parishwide to help fund the construction of a new terminal at Lafayette Regional Airport.
Just days before the fourth anniversary of the 2010 Deepwater Horizon disaster and oil spill, the Coast Guard has moved cleanup of Louisiana's coast to a new phase, allowing BP to end its "active" efforts in the area.
Legislators still must leave their guns at the door of the Louisiana Capitol.
Sen. Fred Mills may have an "R" behind his name, but his actions in the Louisiana Legislature transcend the established boundaries of his party.
The Louisiana House overwhelmingly rejected a repeal of the state's unconstitutional anti-sodomy law Tuesday.
The Louisiana Senate sided with Gov. Bobby Jindal and the oil industry Tuesday, agreeing to void a lawsuit that a south Louisiana flood board filed against more than 90 oil and gas companies for coastal damage.
Acadian rep notifies would-be supporters that an April 25 fundraiser for the embattled U.S. rep won’t go on as planned.
While it isn’t all too unusual for public bodies to have hired security present during meetings, the LPSB’s push to do so is arguably a response to the antics of one board member.
“I’m running. Why would I be raising all this money? Just to have to return it to people?”
With incumbent U.S. Sen. Mary Landrieu watching from afar, and with a united Democratic Party in her corner, the fight to get the GOP officially behind Congressman Bill Cassidy is gaining just as much momentum as it is hushed controversy.
15th Judicial District Judge Durwood Conque has announced that he will not seek re-election after 27 years on the bench.
The controversial standardized tests are set to be used in third-grade through eighth-grade public school classrooms next year.
The Louisiana Senate has agreed to prohibit unmanned aircraft from flying over chemical plants, water treatment systems, telecommunications networks and other items considered "critical infrastructure" in Louisiana.
It didn’t take long for KATC TV 3 to jump all over the news of a dead body found in Girard Park, but in its rush to produce headlines, the local TV station got sloppy.
An unholy trinity of civil-society upheavalers whose first names are not Conner, Tanner or Logan are facing charges in Eunice.
Now that lawmakers have shot down efforts to cap annual interest rates for payday loans, supporters for stricter regulations of the storefront lenders are rallying behind another strategy.