Five-Star Service
Jay Stieber reveals his recipe for success as a restaurant general counsel.
February 28, 2007 at 07:00 PM
7 minute read
The original version of this story was published on Law.com
Richard Melman is considered a genius in the restaurant industry. The founder and chairman of Chicago-based Lettuce Entertain You Enterprises Inc. (LEYE) seems incapable of opening a restaurant that fails–despite the fact that 60 percent of all restaurants fold within their first three years. Melman has bucked the odds time after time, opening such Chicago landmarks as R.J. Grunts, Shaw's Crab House, Everest and Tru. He also was the mastermind behind the Corner Bakery Caf?? 1/2 and Maggiano's restaurant chains.
There are a number of reasons for Melman's success. One of the main ones, though, is that he surrounds himself with smart and experienced people. He then elevates the cream of the crop to partnership status and gives them a cut of the profits. One such partner is Bronx-born Jay Stieber, LEYE's general counsel.
It's Stieber's responsibility to handle all of the company's legal issues, negotiate the deals and secure financing for Melman's projects. Stieber, who joined LEYE in 1995, is pretty comfortable with that role, having started out his career as an accountant.
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