Business

Robert Devaney • February 18, 2016

Five Guys hamburger restaurant at the corner of Wisconsin Avenue and Dumbarton Street will close Sunday, Jan. 24, after years at its Georgetown location. For decades, the 1335 Wisconsin Ave. NW address held the French bistro Au Pied du Cochon, known for a Soviet spy escape and a Mike Tyson incident, before Five Guys arrived about 10 years ago.

Founded in Arlington, Va., in 1986, Five Guys has often received top burger prizes and now has more than 1,000 locations in North America. It opened its first United Kingdom spot three years ago. It also has franchises in Ireland and Saudi Arabia.

Also going is Nadeau Furniture With a Soul at 1065 Wisconsin Ave. NW, which will close by the end of January. The cool, unique handmade furniture store—the business began in 1991—issued this missive to its customers: “We’re counting down the days until the merge with Nadeau Alexandria! We are so excited to be able to offer a larger space, with a fuller selection of furniture, and more parking! All with the same amazing prices you love, of course. Be sure to come see us in Georgetown and grab your favorites before they go. Then, visit us in Alexandria, too.” Nadeau has stores from New York and Charleston to Louisville and Los Angeles.
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John E. Girouard •

If you are anything like the hordes of people rushing to see this year’s Oscar-nominated movies, then you have seen, or at least heard of, “The Big Short.” But unlike other blockbusters, this movie is more than mere entertainment; it is a timely lesson for many investors, who are once again watching the stock market take a tumble.

As I have written many times, investors are only human — which means they are funny creatures that tend to have short memories and act impulsively. Academics call it the “cycle of emotion” or, even better, the “14 stages of trading psychology”: Optimism, Excitement, Thrill, Euphoria, Anxiety, Denial, Fear, Desperation, Panic, Capitulation, Despondency, Depression, Hope and Relief.

Unless you are extremely indifferent or have never put money into a stock, bond or bank account, you’ve most likely found yourself going through these stages.

But what “The Big Short” teaches us in bright Hollywood colors is that from 1937 to 2007 Wall Street only operated with Optimism, Excitement and Thrill.

What is investing, anyways? It is what the founders of capitalism understood perfectly: how to use someone else’s money to make money for everyone else. In fact, one definition of capitalism is “increasing cooperation amongst strangers.”

The turning point came in 1981, with the first conversion of a Wall Street partnership (Salomon Brothers) into a public company. In a partnership, the partners typically take controlled risks with their money. But when these firms went public the game changed. They were no longer making decisions with their money, it was someone else’s — and the more risks they took, the more money they made. If they bet wrong, they lost someone else’s money, not the partners’.

But if you watched the movie (or have watched the markets in the past couple weeks), you should understand what I hope the average investor will finally realize: there is a difference between saving and investing. One may seem boring and slow, but should be the bedrock of any financial plan. The other is gambling; someone else is placing the bets for you and taking a portion of your winnings if you hit the jackpot.

Once you have enough financial security, then you can jump on the roller coaster of investing. Just make sure you can stay on until you reach the end of the ride and can disembark safely.

As a Certified Financial Planner and fiduciary, I look at all financial products based on their purpose and how they can help my clients build wealth and financial security for their families. But in my industry it is all about Wall Street versus insurance companies.

Perhaps asset allocation needs to expand beyond Wall Street products and the average investor’s only other asset, his or her home. Rather than let your emotions get the best of you, perhaps it’s time we all learned how to manage our cash the way the banks do. After all, they don’t take risks with their money, only ours.

John E. Girouard, author of “Take Back Your Money” and “The Ten Truths of Wealth Creation,” is a registered principal of Cambridge Investment Research and an Investment Advisor Representative of Capital Investment Advisors in Bethesda, Maryland.

Robert Devaney • February 1, 2016

UPDATED: Because of the snow storm, grand opening events have been rescheduled to Jan. 30 and Jan. 31.

Down Dog Yoga will open a new yoga studio, at 34th and Prospect Streets, Saturday, Jan. 30, and is celebrating the yoga class space this weekend. It will retain its Potomac Street space as a “yoga teacher training center and for special yoga events,” Dog Dog Yoga founder Patty Ivey told The Georgetowner.

The studio is located in a small retail building that housed Govinda Gallery and Cabellos Hair Salon for decades. At 2,700 square feet, it is larger than—and barely four blocks from—its flagship and original location at 1046 Potomac St. NW, next to the C&O Canal. Its other spaces are in Arlington, Bethesda and Herndon.

“We’re moving!” announced Down Dog Yoga in an email. “After 13 years on the canal, the studio that started it all — the original ‘mothership’ — is moving to a brand new, beautifully updated space. You’re invited. Join us this weekend as we celebrate the opening of our brand new studio space, located just up the road, on the corner of 34th & Prospect.”

Here is the weekend schedule, as provided by Down Dog Yoga:

The weekend of Jan. 30 and Jan. 31 only

— Special new classes

— Door prizes & giveaways 

— Freebies & goodies from local vendors 

— Special class package pricing

Saturday, Jan. 23

9 a.m. — Celebration Kick-Off Flow with Patty Ivey

11 a.m. — Hot Core Flow with Ariane McCormack

12:30 p.m. — Power Beats with Megan Crouch & Catherine Richardson

4 p.m. — Baptiste Power with Megan Crouch

Sunday, Jan. 24

9 a.m. — Baptiste Power with Marcus Lee

11 a.m. — Hot Core Flow with Colure Caulfield

12:30 p.m. — Fluid Power & Meditation with Jess Lazar

4:30 p.m. — Power Beats with Megan Crouch & Catherine Richardson

6:15 p.m. — Candlelight Slow Flow with Erica De Vos

Studio Open House, 2 p.m. to 4 p.m. (all weekend)

Stop by to tour the new space, meet instructors, check out retail, purchase class package specials.

Founded in 2003, the company offers heated vinyasa power yoga studios — which includes pilates — and is the creation of Patty Ivey, who lives on Dent Place with her husband Scott Ivey, who is also part of the business.

To learn more about Down Dog Yoga and about Patty and Scott Ivey, read the cover story of the Dec. 4, 2014, Georgetowner.

Robert Devaney •

Whether snow or shine, the Georgetown Business Association held its monthly networking reception Jan. 20 at Onward Reserve, the preppy and dressy casual men’s clothing store that opened at 1063 Wisconsin Ave. NW last spring.

The business group is celebrating 40 years as an advocate and promoter of the Georgetown business and professional community. The GBA plans a 40th anniversary party in June.

The group and its guests thanked Onward Reserve store manager Christ Carroll for the chance to meet and check out the new place. One of the store’s most popular items for Georgetown is its R.I.P. belt that depicts the logos of shuttered bars and restaurants, such as The Guard’s or Rhino Bar.

Founded by T.J. Callaway and Will Watts in 2012, the apparel and home-goods retailer operates with an extensive online selection. Onward Reserve’s list of brands includes Barbour, Peter Millar, Dubarry and Vilebrequin, as well as up-and-comers like Smathers & Branson, Martin Dingman and Tokens & Icons. Headquartered in Atlanta, Onward Reserve has locations in Georgia, North Carolina and Tennessee.

Guests enjoyed light ware and hot toddies during the evening of light snow—that saw a tough commute for many drivers.
Some GBA members recalled the retail space’s previous incarnation: the Pleasure Place, a sex toy boutique for 35 years. [gallery ids="102371,124503,124497,124507" nav="thumbs"]

Robert Devaney • January 28, 2016

“We are very sorry for an inadequate response,” Mayor Muriel Bowser Bowser said at a Jan. 21 news conference about an inch of snow that fell during the Wednesday evening rush. “We should have been out earlier with more resources.”

D.C.’s major arteries—from Wisconsin Avenue leading up to Bethesda to downtown streets—were jammed with cars, as pedestrians also struggled on icy sidewalks. For some, who usually have a 20-minute commute, it took two to three hours to get home. Roads in Maryland and Virginia were also slammed with traffic.

Meanwhile, the talk of the town is the Friday to Saturday blizzard, forecast by the National Weather Service, which predicts about 20 inches of snow for Washington, D.C.

Even the Metro system will shut down over the weekend, starting later on Friday, Jan. 22. Read details here.

“I have lived in Washington, DC my whole life and I don’t know that I have lived through a forecast like this,” said Bowser, who added that D.C. was prepared for the huge storm.

According to the D.C. government, “The National Weather Service has issued a Blizzard Warning in effect from 3 p.m., Friday, Jan. 22 through 6 a.m., Sunday, Jan. 24. Heavy snow and wind expected, with a projected accumulation of about 24 inches of snow. Temperatures will be in the mid to upper 20s, with increasing winds up to 40 mph. Heavy snow and blowing snow will cause dangerous conditions. Travel and visibility is expected to be limited during the storm.”

D.C., Maryland and Virginia have declared states of emergency. All public schools in the region will be closed Friday. The District response will include coordinating with the Department of Homeland Security, Federal Emergency Management Agency and National Guard.

Residents are anticipating a huge snow storm that would rival the Snowmageddon of 2010 that brought two feet of snow to the city and shut it down for days.

Robert Devaney • January 14, 2016

HomeGoods, the home furnishings store run by TJX Companies, which also runs the clothing discounter T.J. Maxx, will depart from its M Street space in Georgetown by the the end of the month.

Opened in September 2013, the duplex store shares its 3222 M St. NW address with T.J. Maxx, which will remain. As HomeGoods wraps up its part of the store, its shelves are nearly empty but with clearance mark-downs for what’s left.

The business occupies part of the Georgetown Park shopping complex, which was formerly an interior mall that opened in 1981. Other businesses there now front the street with their entrances and share little common interior space.

HomeGoods’ vacated space will be filled in by an expansion of T.J. Maxx.

Peter Murray • January 11, 2016

Club Monaco is back in town on with a fresh concept at the renovated former Rhino Bar site at 3295 M St. NW. The new store marks the return of the Ralph Lauren-owned, prep-focused retailer to the area after stores in Georgetown and at Pentagon City were shuttered over four years ago. The new store opened Friday, Dec. 4, and Club Monaco plans on opening another outlet in Tysons Corner next year.

According to the company, the new Georgetown store “reflects the art, architecture and culture of its neighborhood,” with its townhouse-inspired interior, custom-designed Cherry Blossom wall coverings, and southern-inspired furniture and decor. The first floor houses the women’s shop and the second the men’s.

The new shop opens as the brand seeks to broaden its appeal among younger shoppers, who value the experience of shopping as much as they do the apparel they buy, according to retail analysts.

One thing that could help draw in young shoppers: Club Monaco plans on using one of Rhino’s old bars as a men’s cash wrap.

The circle of life continues in Georgetown.
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Robert Devaney •

A packed year-end reception for the Georgetown Business Association “raised a glass (or two) to celebrate the holiday season as well as the vibrant business community we are all so blessed to  be a part of” at the George Town Club Dec. 9. GBA President Sonya Bernhardt greeted Mayor Muriel Bowser and Ward 2 Council member Jack Evans and other D.C. officials as well as members and friends of the business group.

Council members Evans and Vincent Orange were hailed as “friends of Georgetown business.” Also thanked was event sponsor EagleBank.

Toward the end of the festive affair, singer-songwriter Rebecca Magnuson played the piano and led the crowd through songs, such “Rudolph the Red-nosed Reindeer,” “O, Holy Night,” “Imagine” and a few Adele favorites.

The GBA announced its officers and directors for 2016 during the get-together — with Bernhardt continuing as president. Hope Solomon continues as vice president and will also temporarily take on the role of secretary. Alan Helfer remains treasurer. Ira Darden headed up the nominations committee. For details on the group’s list of board members, visit GeorgetownBusiness.org.
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Robert Devaney • January 8, 2016

Last time we saw Joe Sternlieb, CEO of the Georgetown Business Improvement District, better known as the BID, after a nice lunch of crab cakes at Clyde’s, he was checking on a BID pedestrian movement counter in front of the City Tavern, then, seeing a homeless man sprawled out on the sidewalk, calling for medical assistance for the poor, lost soul. We had been talking about new BID initiatives and commercial real estate numbers.

This glimpse tells you quite a bit about Sternlieb, who lives in upper Northwest D.C. and worked previously for the Downtown BID as well as at EastBanc. He is a precise, practical and compassionate guy who wants to get things done right and bring people together. As one observer said, “He’s the best thing that ever happened to the Georgetown BID.”

Sternlieb and his BID team are working daily from their offices on Potomac Street or from the town’s sidewalks. Keeping the streets clean, helping people move around easily and assuring public safety. These basic services are primary. But other BID ideas have gotten attention too, such as the aerial gondola between Georgetown and Arlington. That idea may never get off the ground, but there are many other proposals in the BID report, called, “The Georgetown 2028 Plan.” The BID is supported by a special tax on Georgetown businesses and has a $3 million-plus annual budget. The BID explains its 15-year action plan this way: “In order to establish Georgetown as a friendlier pedestrian environment and to encourage discovery, the plan includes the addition of temporary parklets, temporary sidewalk widening programs, increased programming south of M Street and a major renewal project to restore the canal and its boat.” The 2028 action plan is detailed on www.georgetowndc.com.

What’s new, besides a revamped newsblast on the website? Lots apparently because the BID is not at a loss for projects that better Georgetown.

The Georgetown BID has placed about 50 chairs around town for residents, workers and visitors in a pilot program “for pedestrian respite.” Chairs are near the C&O Canal, at Washington Harbour, near Dean and Deluca and on Book Hill. They were such a big hit that plans are underway to order 50 more.

The Georgetown Gongoozlers mural project (a “gongoozler” is an idler who stares at length at activity on a canal) has begun. Artist Nena Depaz, the first of four local artists commissioned to produce a mural, installed a mixed-media work on construction barricades covering the main entrance of the closed Latham Hotel at 3000 M St., NW.

The BID said that it “commissioned the temporary, rotating artworks to improve the streetscape during construction, discourage illegal graffiti, and to help support community efforts to maintain and interpret the section of the C&O Canal that is adjacent to the hotel.”

The BID also completed a signage project with the District Department of Transportation that was approved years ago by the Old Georgetown Board. You may have seen the new signs along M Street or Wisconsin Avenue, pointing the way to Georgetown University, the waterfront or Francis Scott Key Park.

Coming soon from the BID: Lighting the undersurface of the Whitehurst Freeway — that is above K Street down at the waterfront.The lights will bring safety along with an entirely different streetscape. With the touch of an iPad the color of the proposed LED lights can be changed to evoke various holiday moods.

As for that dock at C&O Canal near the mule bridge on 34th Street, the National Park Service requires that it be a fixed structure. The project has been pushed back. It will be presented to OGB in September.

Also in September: the annual Taste of Georgetown celebrates its 21st year, noon to 5 p.m., Saturday, Sept. 13, with tastes from more than 35 of the neighborhood’s best restaurants along with an expansive Craft Beer and Wine Pavilion and live entertainment. For the first time in the event’s history, the Taste will move from Wisconsin Avenue to K Street, along the Georgetown Waterfront. This longstanding event in Georgetown is hosted by the Georgetown BID and benefits the Georgetown Ministry Center’s services supporting the homeless.

Georgetowner • December 22, 2015

The Georgetown Business Improvement District launched its second annual public light-art exhibition for Christmastime. It’s titled “Georgetown Glow” and runs 6 p.m. to 10 p.m., through Dec. 20. There are five site-specific illuminated artworks along or near the C&O Canal. For specifics, visit GeorgetownGLOWDC.com.

Most of the Georgetown Glow artists gathered at the Dec. 11 Georgetown Glow reception at Canal Square and Sea Catch Restaurant: Herve Orgeas, Wired People Project: “The Lovers”; Lee-Su Huang, “Intrescapes”; Jakob Marsico, “Intrescapes”; Hiroshi Jacobs, “iGlow”; Laia Cabrera, “Shifting Gaze”; Isabelle Duverger, “Shifting Gaze”; Arthur Gallice, Wired People Project: “The Lovers.”
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