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The Danny Meyer Stock Index Crushes the S&P 500

Hillary Dixler Canavan is Eater's restaurant editor and the author of the publication's debut book, Eater: 100 Essential Restaurant Recipes From the Authority on Where to Eat and Why It Matters (Abrams, September 2023). Her work focuses on dining trends and the people changing the industry — and scouting the next hot restaurant you need to try on Eater's annual Best New Restaurant list.

Empire builder Danny Meyer was on on Mad Money with Jim Cramer who checked on the longterm performance of the "Danny Meyer Index." Back in 2009 Cramer had Meyer select a portfolio of publicly traded companies he believed understood and embodied hospitality including Chipotle, Whole Foods, American Express, Apple, and Google. Cramer finds that the Danny Meyer Index outperformed the S&P 500 by a staggering amount: Where the Danny Meyer Index showed gains of 375%, the S&P only gained 129%.

In an interview segment with Cramer at Gramercy Tavern, Meyer addresses how believing in your own success is a detriment to growth, learning from mistakes, and running "an employee-first business." Meyer also talks about being on the board at OpenTable, and some of the downfalls of corporate restaurant chains like Darden (Olive Garden, Red Lobster): "Darden is a great company, they've stood the test of time ... However, I think a lot of their restaurants play in what's been a really tough segment these days." Go, watch:

Video: Service with a Smile

· Service with a Smile [YouTube]
· All Danny Meyer Coverage on Eater [-E-]