Dining

A Local Restaurateur’s Look at Influx of Students

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Carriage House Cafe, John Thomas Steakhouse and Ten Forward Cafe.  These are just a few of Ithaca’s restaurants forced into early closings by the COVID-19 pandemic. Suddenly, Ithaca business owners had to reevaluate as they faced massive losses in revenue; as it is estimated that Cornell students spend around $4 million every week in Ithaca, the loss of this steady income took its toll. Yet as Cornell students begin to interact with the greater Ithaca community once again, how are local restaurateurs reacting to our return? Is it a welcome change to have the students back in town once again, or has our arrival made some Ithaca business owners’ jobs even harder?

budget

GUEST ROOM | Our Students Are Paying for a ‘Fat and Happy’ Budget

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In response to The Sun’s Oct. 29 article, “Cornell Bleeds Red Ink in Latest Financial Report with Operating Losses of $104 Million,” as an alum, parent and long-time volunteer for the University I was not surprised by the bad news. While student tuition and alumni contributions continue to rise, once again University expenses outpaced revenues. In the world of finance, most businesses and not-for-profits lose money by either not generating enough revenue or they pile on too much administrative overhead. Many iconic brands like Eastman Kodak, Lehman Brothers and Enron filed for bankruptcy or closed because executives rewarded themselves with fat salaries and happily ran to the bank while taking their eye off the true meaning of their business.