Shootout On Restaurant Row

There's a three-mile stretch of road in Addison, Tex., just north of Dallas, that's a virtual shrine to the American chain restaurant. Both sides of the busy thoroughfare are lined with joints offering everything from fast-food burgers to seafood. In all, there are 115 places to eat--about one every 45 yards--and they're often packed. But don't be fooled by the traffic: Belt Line Road may be the nation's most visible sign of what's wrong in the restaurant industry.

Belt Line is dominated these days by casual sit-down chains such as Chili's Grill & Bar, Applebee's, and Olive Garden that have sprung up over the past five years in every suburb in the country. Such operations, which were darlings of the initial public offering market a few years ago, represent demographically driven dining. They're aimed at Baby Boomer parents and their Echo Boom offspring: They serve decent food--plus alcohol-- bring it fast, and welcome kids. And with a dinner check for a family of four coming to about $40, a night out doesn't break the bank.