[Photo via TimeOut]

TimeOut NY has a feature this week titled “They Need a Drink” showcasing some of the city’s most recent laid of workers and where their favorite hangouts are to drink away their job woes.  We got a kick out of the ex Radar Team. Adam Raymond, Paige Ferrari, and our favorite, Neel Shah seem to chose Marshall Stack to twitter their days away (this is also a favorite spot of Lockhart Steele from Curbed).  The lazy drinking days were short lived by Neel, who has just gotten picked up by Page Six.  Thankfully, it looks like he has his new phone up and running too.

[Rome Is Burning And Lockhart Steele Predicts Bottom]
[It's Official, RADAR Folds, We've Hit Bottom]
[Radar Magazine's RIP Halloween Bash]

Its time to start buying those equities again!  Forget the Oracle of Omaha, we’ve got Lockhart Steele! Lock appears to be the media man with the crystal ball as of late.  His two-part prediction regarding the fall of Radar Magazine is coming to fruition.  1) Radar Magazine WILL fold, and 2) When it folds it WILL mark the bottom of the economy.  Now Gawker has confirmed it.

“You will know when we have hit the bottom of this financial crisis the very day when Radar Magazine goes out of business. And you can quote me on that!”

Yes it’s true Radar Magazine was some Risky Business.  Especially in this world where Print Media is falling like flies.  But please don’t confuse our exuberance with Schadenfreude!  Sometimes its just fun when you’re right.

[Rome Is Burning, And Lockhart Steele Predicts Bottom]

There has been lots of talk around town and “The Internets” about what the financial implosion on Wall Street means for life in the city.  More specifically, we’ve opined on the uber important issue of a possible end to high-priced bottle service in New York nightclubs, Gawker has followed suit predicting that the end may be nigh for a $450 dollar bottle of Ketel One, and the WSJ has written about other allied industries” fears.  But few in the NYC webosphere have predicted when we might actually hit bottom, or rather how we will know when we’ve hit it.

Enter Lockhart Steele.  The man, the myth, the founder of the Curbed network, and one of the most powerful people in NY real estate. So what does he have to say about high-priced bottles?  Nothing, he isn’t your typical character in clubland. If you want to find him you’re better off pulling out your nerd-o-meter and zeroing in on the nearest media party, or maybe even a blogfest he is putting on.  But what does he say about hitting the bottom?

“You will know when we have hit the bottom of this financial crisis the very day when Radar Magazine goes out of business.  And you can quote me on that!”

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