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Insights from Chefs on Tipping, Diners, and the Restaurant Industry
In the fast-paced and high-pressure world of professional kitchens, chefs are the unsung heroes who work tirelessly to deliver delicious dishes to diners around the world. But what do these chefs really think about tipping, diners, and the industry as a whole? We reached out to some top chefs to get their insights on these questions and more.
Hajime Sato, with a simple but profound statement, emphasizes the importance of hiring individuals who are passionate and dedicated to their craft. Tim Hollingsworth shares a pivotal moment in his career when he raised concerns with his mentor, Thomas Keller, about his workload. This willingness to communicate and seek support is crucial in an industry as demanding as professional cooking.
Jeffery Harris highlights the importance of creating a supportive work environment for his team, making them feel valued and safe in their roles. Justin Pioche recalls a valuable lesson from his mentors about treating all team members with respect, emphasizing the significance of every role in a kitchen. Diana Dávila sheds light on the challenges of providing healthcare to employees and the financial implications for restaurant owners.
David Utterback touches on the personal sacrifices and physical toll that comes with a career in the kitchen, expressing concerns about retirement and long-term sustainability. Yun Fuentes acknowledges the challenges of running a restaurant amidst rising costs but remains committed to delivering exceptional dining experiences for guests. David Chang calls for a candid assessment of the industry’s financial realities and high attrition rates, questioning the sustainability of a career in cooking.
These insights offer a glimpse into the daily struggles and aspirations of chefs in the culinary industry. Despite the challenges they face, these chefs remain dedicated to their craft and committed to providing exceptional dining experiences for their guests. The next time you dine out, take a moment to appreciate the hard work and passion that goes into preparing your meal behind the scenes.
In conclusion, the world of professional kitchens is a complex and demanding environment, but chefs continue to strive for excellence and innovation in their craft. Their perspectives on tipping, diners, and the industry reveal the challenges and rewards of a career in culinary arts. Next time you dine out, remember to show your appreciation for the hardworking chefs who make it all possible.
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Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
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