Osteria, located next door to Alla Spina and Route 6, was nominated by the James Beard Foundation for best new restaurant in 2008.

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Chang has won three previous Beard awards, including for best new restaurant for Momofuku Ko in 2009 and rising star chef in 2007.

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The Four Seasons won best restaurant, Babbo won for best new restaurant, Union Square Cafe for outstanding wine service and Le Bernardin for outstanding service.

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The annual awards are the highest profile part off what the Foundation does, and like the Academy Awards, most are related to the current year, such as Best New Chef, Best Cookbook, Best New Restaurant, etc.

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Then I had a chat with Thomas Pastuszak, wine director at New York's Nomad restaurant, who said the best match wasn't between wine and food at all but between wine and diner.

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On the first oversold rally in the stock market, the materials and energy sectors may see more short covering, but once the market starts a sustainable new uptrend, groups like the restaurant stocks are likely to do the best.

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