Janet Poccia and Mohammed Lawal, as well as Steve Greenapple, are featured in this US Business Executive magazine article.

1. Food & Drink
Continuing a Century-long Tradition
of Seasonal Seafood Backed by
Dedicated Employee Owners
The Grand Central Oyster Bar Inc.
www.usbusinessexecutive.com

2. Continuing a Century-long
Tradition of Seasonal
Seafood Backed by Dedicated
Employee Owners
Produced by Kayla O'Meara & Written by Molly Shaw
The Grand Central Oyster Bar Inc. (Oyster Bar) has been a
New York City landmark for more than 100 years. Located
in the lower level of the historic Grand Central Terminal,
Oyster Bar has emerged over the years as one of the city’s topnotch seafood restaurants, known for an abundance of fresh,
seasonal offerings. In addition to an ever-evolving menu of
the finest seafood on the market, Oyster Bar also boasts a 100
percent employee stock ownership plan (ESOP). Therefore,
the restaurant is comprised of a team of individuals who
truly care about customer service and the future glory of the
establishment, and Oyster Bar’s customers are reaping the
benefits.
Oyster Bar boasts the elegance and ambiance of a fine dining
Mohammed Lawal , Janet Poccia and Sandy Ingber
2 | USBusinessExecutive

3. restaurant combined with the cool, casual atmosphere of a
hip eatery all rolled into one. From a classic sit-down dining
room to a busy spiral counter perfect for a quick bite, Oyster
Bar has something for everyone.
“We offer over 30 varieties of oysters, up to 20 varieties of fish,
70 wines by the glass and 400 by the bottle,” says Mohammed
Lawal, vice president of Oyster Bar. “You can go anywhere
in the city and you won’t find that variety. If you want to
spend $10.00 to $15.00 you can, or $300.00 to $400.00; it’s
possible.”
Your Partner in the ESOP Life Cycle
The focus is on a menu that highlights fresh, seasonal
ingredients. “Our executive chef and vice president, Sandy
Ingber, goes to the local fish market every day,” shares Janet
Poccia, president and controller of Oyster Bar. “We have the
luxury of changing our menu daily based on what’s best at
market.”
Business Succession Planning/Ownership Transition • ESOP
Feasibility & Transaction Analysis • ESOP Design & Installation
• ESOP & 401(K) Administration, including online
administration software • Repurchase Obligation & Mature
ESOP Consulting
SES Advisors Congratulates
GRAND CENTRAL OYSTER BAR & RESTAURANT
on 100 Years Serving New Yorkers and Visitors
from Around the World
Janet is proud to reveal some of Oyster Bar’s favorite summer
menu items. “Herring is one of our most popular summer
dishes,” she says. “We get it once a year, fresh from Holland.
It’s only in season for about three weeks, starting in June, but
we get first choice of the fleet.”
For 25 years, ESOP design, implementation and administration have been our
exclusive focus. SES takes a uniquely strategic and responsible approach that
maximizes value for owners, their companies and their employees.
TRUSTED Experts > Tailored SOLUTIONS > Sustainable RESULTS
“We’re also adding soft shell crab, stone crab claws and fresh
salmon to the summer menu,” adds Mohammed. “These
items won’t be on the menu forever, but it’s all part of the
www.sesadvisors.com • 888.SES.ESOP
10 locations serving clients nationwide
3

4. Mohammed Lawal, vice president of Oyster Bar
and said he had the perfect job for me,” reveals Janet. “It turns
out he was from a recruiting organization looking to set me
up with a job at Oyster Bar. I owe him a great deal of thanks
for setting me up with this wonderful career.”
seasonal rotation.”
Rebirth and a Chance at Renewed Success
Surprisingly enough, New York City’s Midtown Oyster Bar
wasn’t always the gem it is today. The original Oyster Bar was
founded in 1913. When the new Grand Central Terminal
opened the same year, people
from all over flocked to see
the engineering marvel and
Oyster Bar enjoyed nearly 60
years of initial success.
Janet has now been with Oyster Bar going on 24 years.
Mohammed has also been with the restaurant for nearly a
quarter-century and notes
that he is a living example of
the American Dream. “This
was my first job when I came
to the U.S.,” Mohammed
says. “I started at Oyster Bar
Established : 1913
as a dishwasher in 1990 and I
eventually climbed my way to
President: Mohammed Lawal & Janet Poccia
the top of the ladder.”
COMPANY AT A GLANCE
The decline of the longhaul passenger train system
drew the downfall of Oyster
ESOP comprised of 13 members
Bar. “For a number of
Invested Employees
years the restaurant was left
abandoned,” recalls Janet. “It
www.oysterbarny.com
There’s no doubt about it,
was a dark and dirty mess
Oyster Bar leaves a lasting
until Jerome Brody purchased
impression on customers and
Oyster Bar in 1974; he was
able to restore the restaurant, bringing it back to its original employees alike. Janet reveals that many employees have
stayed with the restaurant for numerous years. “Sandy has
grandeur.”
also been with us for about 24 years,” adds Janet. “My general
As Oyster Bar got a second chance at success, so did several of manager, who we promoted from within, has been with us for
its now longtime employees. “I was walking down 42nd street about seven years and my sous chefs for 10 to 12 years. Once
right outside of Grand Central when a man approached me people are on board we have them thinking more like owners
4 | USBusinessExecutive

5. Janet Poccia, president and controller of Oyster Bar
than just employees, because they are.”
The company’s ESOP began in 1999, when Oyster Bar
purchased 49 percent of the company from Brody. By 2004
Oyster Bar was under complete employee ownership. “We’re
a very small ESOP, comprised of approximately 13 members:
non-union and management only,” details Janet. “We offer
extensive information about the benefits of ESOP. It’s about
getting everyone really involved and showing them that they
do have a part and a say in this company. I think it really pulls
everyone together.”
Grand Central Oyster Bar & Restaurant –
Congratulations on 100 Years of Success!
SFE&G is proud to be your ESOP partner.
Steiker, Fischer, Edwards & Greenapple, P.C. is a
nationally recognized boutique law firm focusing on
Employee Stock Ownership Plans (ESOPs) and
other employee-centered ownership transition and
compensation strategies.
“We have great senior management so things don’t fall apart,”
Steiker, Fischer, Edwards & Greenapple, P.C. is a nationally recognized boutique law
firm focusing on Employee Stock Ownership Plans (ESOPs) and other employee-centered
ownership transition and compensation strategies. Since 1987, our attorneys have
represented companies, selling shareholders, plan fiduciaries and lenders in hundreds of
transactions nationwide. Our approach for structuring and maintaining ESOPs focuses
on balancing the needs of owners, companies and employees to create successful,
sustainable employee ownership outcomes.
www.sfeglaw.com
888-737-ESOP
Steven Greenapple
973.540.9292
sgreenapple@sfeglaw.com
www.sfeglaw.com
When ESOP Experience Matters.
5

6. adds Mohammed. “Our managers know they sometimes need
to step back and think about how to improve things and keep
us profitable; they have a huge sense of responsibility.”
After nearly 14 years of employee ownership the shareholders
at Oyster Bar have grown and matured into expert company
managers, but not without some legal guidance from
the restaurant’s trusted adviser Steiker, Fischer, Edwards
& Greenapple, P.C. (SFEG). SFEG acts as a third-party
administrator for the company’s ESOP account, assisting in
retirement account planning and allocating shares.
“I’ve been Oyster Bar’s ESOP lawyer for nearly a decade,”
shares Steve Greenapple, a partner at SFEG and chairman
of the legislative and regulatory committee for the National
ESOP Association. “In the beginning, even though Oyster
Bar’s management team was highly skilled in running a
restaurant, they needed some support to learn how to become
effective owner-managers. Since the founding of the ESOP,
things have really come full cycle and Oyster Bar’s employees,
like Janet and Mohammed, are now expert owners.”
Building on 100 Years
Oyster Bar has a great deal to celebrate in 2013 as the
restaurant turns 100 years old, marking a century of tradition
and new ventures like the ESOP. “For our birthday we joined
the American Cancer Society and the Alzheimer’s Association
6 | USBusinessExecutive

7. As Oyster Bar welcomes a new century of continued success,
Janet and Mohammed reflect on its rich history and the
development of an employee-owned establishment that will
carry on a tradition for years to come. The Grand Central
Oyster Bar Inc. remains a New York City landmark devoted
to serving the finest quality seafood supported by invested
employees.
to host a private buffet-style dinner to raise money for both
organizations,” reveals Janet. “We’ve been doing this event for
about three years now and it’s a huge success.”
Mohammed is proud to note that the restaurant is also
looking forward to its annual Oyster Frenzy. “This event is
in late September 2013,” he says. “We shut down the whole
restaurant for a day to celebrate the oyster. There’s live music,
great food and even a shucking competition where the winner
takes home a big prize. It attracts people from all over.”
For more information about The Grand Central Oyster Bar
Inc., please visit: www.oysterbarny.com. •
7

8. The Grand Central
Oyster Bar Inc.
Grand Central Terminal - Lower Level
New York, NY 10017
www.oysterbarny.com