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Knight Watch: Is A Bad Economy Bad For Everyone?
By Knight Pierce Hirst
Although the economy has had a negative effect on business in general, it's had a positive effect on Sentry Safe. Sentry Safe, one of the nation's leading safe manufacturers, has seen an increase in sales. According to the company's CEO, some retail stores have seen a 70% increase in sales over 2007. This New York company, started during the Great Depression, has always seen increased sales during hard times. Although Sentry markets its safes as protection from perils like fire, water and theft, it seems customers are seeing banks as perils and would rather bank on safes for the safety of their money. The down economy has also created an upturn in coupon use. The first coupon was issued in the 19th century by a drug store promoting Coca-Cola. During the Depression coupon use was common in American households and peaked in 1992. Nearly 8 billion coupons – worth an average of 60 cents – were redeemed for almost $5 billion. After that coupon use declined 5%-7% annually until 2007. That's when food prices started to rise. In 2007, 2.6 billion coupons – worth an average of $1.06 – were redeemed for almost $3 billion – helping to redeem many household budgets. Then there's the California company Air Ventures. In spite of the economy it has started offering aerial tours of the San Francisco area in one of the world's 3 zeppelins. The 246-foot airship built in Germany looks like a blimp, but has a rigid internal frame covered with a canvas hull and – unlike the infamous Hindenburg – is powered by nonflammable helium. With a cabin that holds 12 passengers and 2 crew, Air Ventures hopes to sell 15,000 rides a year – if there are 15,000 people in a down economy willing to pay $495 to lift their spirits for one hour. Unfortunately, the down economy hasn't lifted the spirits of many parents. A study done by the University of California found a strong correlation between empty-nest status and increases in women's enjoyment of time spent with their partners. That's the good news. The bad news is 48% of 2008 college graduates planned to move back home and 43% of 2007 graduates were still home 9 months after graduation. Add to that the increasing number of working young adults who are moving back because of the economy and not only is the nest full again, but the nest egg often has to be cracked open.
This intel first appeared on: http://knightwatch.typepad.com
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PLEASE VISIT THE CONTRIBUTOR'S WEBSITE
Knight Watch
KNIGHT WATCH IS A HUMOROUS 400 WORDS
knightwatch.typepad.com
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May, 2012
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