BEFORE THE FALL: Bernard Loiseau leveraged his three Michelin stars to build a fine hotel next to his restaurant. Restaurant operators will have to wait until this November to learn which New York City establishments will be anointed with three stars in the inaugural U.S. edition of Europe's standard-setting Michelin Red Guide. But those so honored better be ready to handle the pressure that accompanies their lofty status. Getting to the three-Michelin-star level is one thing. ...

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