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(WLWT)   Cincinnati restaurant owner will buy every Northern Kentucky undergrad a free steak. But there's just one catch - Northern Kentucky needs to beat Kentucky on Friday   ( wlwt.com) divider line
    More: Unlikely, extraordinary talented leaders, Greenland, NCAA Men's Division I Basketball Championship, National Collegiate Athletic Association, Ruby's restaurants, Norsemen, Cost, Dinner  
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347 clicks; posted to Sports » on 16 Mar 2017 at 12:16 AM (31 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



25 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2017-03-15 09:56:52 PM  
The dinners can be redeemed at any of Ruby's restaurants.

I first read that as "Arby's restaurants"

/you clever SOB
 
2017-03-15 11:30:41 PM  
Free publicity.

Hey may have hedged the bet via a Vegas sport book. I wonder what the line on that game is...Probably not too pricey to hedge a million dollar loss that way ($1000, maybe?).
 
2017-03-16 12:37:14 AM  
Go Norse! You magnificent bastards!

/Lived in and around Cincy for 40 years, and only once was able to afford to eat at one of Jeff's places.
 
2017-03-16 03:47:36 AM  
Is he giving points?
 
2017-03-16 06:50:35 AM  
My daughter was on local TV with her friend doing their "Norse up" signs
 
2017-03-16 07:42:40 AM  
It's kind of like that deal Taco Bell did when Mir de-orbited, that if the debris hit that tiny target in the pacific they'd give everyone a free taco.

Local restaurateur offers lots and lots of free meals if something really REALLY unlikely happens.

It's just getting attention because.
1. It's NKU's first ever appearance at the NCAA Tournament
2. Jeff Ruby does high-end steakhouses, so if this pays off those students will be getting awesome steak dinners.

/Ate at a Jeff Ruby's once, food was amazing.
//Did so after I read about what Jeff Ruby said/did to OJ Simpson when he tried to eat at his restaurant.
 
2017-03-16 07:46:17 AM  
If I submit an application right now I wonder if they'll accept me by close of business tomorrow....
 
2017-03-16 08:40:56 AM  

beezeltown: Free publicity.

Hey may have hedged the bet via a Vegas sport book. I wonder what the line on that game is...Probably not too pricey to hedge a million dollar loss that way ($1000, maybe?).


It's trivial to insure promotions like this, or half court shots, or hole in one, etc.
 
2017-03-16 09:25:28 AM  
Willie Stargell owned a chicken place in Pittsburgh and gave a free order to anyone buying chicken at the time he hit a home run.  In one game the Pirates were losing in the ninth inning but had men on base and Willie at the bat.  Bob Prince, the announcer, said "If Willie hits one here, I'll buy the chicken".  You know what happened.  Prince said he couldn't believe that several hundred people were actually buying chicken at that moment, but he paid anyhow.
 
2017-03-16 09:27:48 AM  

ElwoodCuse: beezeltown: Free publicity.

Hey may have hedged the bet via a Vegas sport book. I wonder what the line on that game is...Probably not too pricey to hedge a million dollar loss that way ($1000, maybe?).

It's trivial to insure promotions like this, or half court shots, or hole in one, etc.


Every now and then you'll get a news story about some small business owner who pulls this type of thing looking for the publicity, but doesn't go through the effort to get the nominal insurance policy and ends up screwing themselves over
 
2017-03-16 09:47:23 AM  
13,000 undergrads @$25 wholesale dinner, plus the kids paying for beer.

he will break even.
 
2017-03-16 09:58:20 AM  

Broktun: 13,000 undergrads @$25 wholesale dinner, plus the kids paying for beer.

he will break even.


His restaurants are a bit nicer than that.  Local news here in Lexington said he figured the total cost would be about 1.3 million, so he's figuring about $100 per dinner
 
2017-03-16 10:04:30 AM  

colonel0sanders: Broktun: 13,000 undergrads @$25 wholesale dinner, plus the kids paying for beer.

he will break even.

His restaurants are a bit nicer than that.  Local news here in Lexington said he figured the total cost would be about 1.3 million, so he's figuring about $100 per dinner


Yeah, think Ruth Chris or Morton's.
 
2017-03-16 11:13:20 AM  
Even if the upset of the ages happens, he won't have to buy many steak dinners. Most college students today are vegan hippies who cried when they saw Bambi.
 
2017-03-16 11:46:28 AM  

colonel0sanders: Broktun: 13,000 undergrads @$25 wholesale dinner, plus the kids paying for beer.

he will break even.

His restaurants are a bit nicer than that.  Local news here in Lexington said he figured the total cost would be about 1.3 million, so he's figuring about $100 per dinner


He may charge $100 per steak dinner but that's not going to be what giving a free steak dinner costs him. My bet is that his cost + labor is $20-40 range.

/Still free publicity

JC
 
2017-03-16 11:54:27 AM  

beezeltown: Free publicity.

Hey may have hedged the bet via a Vegas sport book. I wonder what the line on that game is...Probably not too pricey to hedge a million dollar loss that way ($1000, maybe?).


Promotional insurance is a thing.  You add a policy to cover your losses in case it happens.  Generally it's budgeted into the marketing costs.
 
2017-03-16 11:57:34 AM  

bglove25: colonel0sanders: Broktun: 13,000 undergrads @$25 wholesale dinner, plus the kids paying for beer.

he will break even.

His restaurants are a bit nicer than that.  Local news here in Lexington said he figured the total cost would be about 1.3 million, so he's figuring about $100 per dinner

Yeah, think Ruth Chris or Morton's.


I'm thinking of the Ruth Cris in Louisville and that god-awful building it's housed in.

/My friends from Eminence and I used to jokingly refer to it as the Al-Kaden Tower.
 
2017-03-16 12:01:38 PM  

UNC_Samurai: bglove25: colonel0sanders: Broktun: 13,000 undergrads @$25 wholesale dinner, plus the kids paying for beer.

he will break even.

His restaurants are a bit nicer than that.  Local news here in Lexington said he figured the total cost would be about 1.3 million, so he's figuring about $100 per dinner

Yeah, think Ruth Chris or Morton's.

I'm thinking of the Ruth Cris in Louisville and that god-awful building it's housed in.

/My friends from Eminence and I used to jokingly refer to it as the Al-Kaden Tower.


Ha!  All through my childhood, that building was right out my bedroom window.
 
2017-03-16 12:03:37 PM  

JoeCowboy: colonel0sanders: Broktun: 13,000 undergrads @$25 wholesale dinner, plus the kids paying for beer.

he will break even.

His restaurants are a bit nicer than that.  Local news here in Lexington said he figured the total cost would be about 1.3 million, so he's figuring about $100 per dinner

He may charge $100 per steak dinner but that's not going to be what giving a free steak dinner costs him. My bet is that his cost + labor is $20-40 range.

/Still free publicity

JC


Yeah, that's a good point.  It's not like he can count lost revenue and pretend those college students would have paid for it themselves if he hadn't given it away for free.

Either way - it ain't gonna happen, and we're all talking about him.  So good move, Mr Ruby
 
2017-03-16 12:23:33 PM  

UNC_Samurai: beezeltown: Free publicity.

Hey may have hedged the bet via a Vegas sport book. I wonder what the line on that game is...Probably not too pricey to hedge a million dollar loss that way ($1000, maybe?).

Promotional insurance is a thing.  You add a policy to cover your losses in case it happens.  Generally it's budgeted into the marketing costs.


Yeah, I bought a policy for a hole in one promotion for a charitable fundraiser a couple of years ago. The price was not trivial, though, about $750 to cover a $100k Mercedes.  A straight book bet on NKU is probably significantly cheaper than underwriting minimums from Lloyd's or a similar carrier.
 
2017-03-16 12:45:31 PM  

Silverstaff: It's kind of like that deal Taco Bell did when Mir de-orbited, that if the debris hit that tiny target in the pacific they'd give everyone a free taco.

Local restaurateur offers lots and lots of free meals if something really REALLY unlikely happens.

It's just getting attention because.
1. It's NKU's first ever appearance at the NCAA Tournament
2. Jeff Ruby does high-end steakhouses, so if this pays off those students will be getting awesome steak dinners.

/Ate at a Jeff Ruby's once, food was amazing.
//Did so after I read about what Jeff Ruby said/did to OJ Simpson when he tried to eat at his restaurant.


Probably a lot better than Jack Ruby's restaurant, which only offered free shots
 
2017-03-16 01:09:44 PM  
How does one buy a free steak?
 
2017-03-16 01:37:59 PM  
So when does the NCAA get involved in this?
 
2017-03-16 03:42:32 PM  
My dog is an undergrad @ Northern Kentucky!
 
2017-03-16 03:43:28 PM  
Can't BELIEVE I was the first to slip THAT in......
 
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