An interesting concept of moneyJuly 28, 2020 Tim WorstallNewspaper Watch13 CommentsVirginia Chick-fil-A location offering free food for coins Yes, yes, I know, but that headline, really…. previousThat Scottish DebtnextSlightly weird 13 thoughts on “An interesting concept of money” john77 July 28, 2020 at 1:29 pm Yes, I love the headline. Capitalism, that expands our ideas of the free market – in this case Chick-fil-A is rewarding/paying its customers for saving it the hassle of going to the bank and hauling back a hundredweight of mixed coins. I find it difficult to believe that the saving covers the sales at the published price but I can believe that it might cover the marginal cost – more likely it falls less short than the “Goodwill” generated by this – customers will come back because they feel good about Chick-fil-A. I have read that Chick-fil-A is run by Christians who are probably happy to benefit their customers but I suspect there is some guy in the back room who has worked out that it will help the bottom line but hasn’t told the Chairman. [c.50 years ago I listened to Sir Austen Bide tell an audience of Investment Analysts that Glaxo produced some drugs for rare diseases at a loss because they thought that it was the right thing to do, while in the background the FD sat there politely silent: a year or two later an expert, and more experienced analyst, explained to me that the FD was quite happy because the PPRS meant that Glaxo would be allowed higher profits on other drugs supplied to the NHS to exactly compensate for those losses. I am pleased to relate that none of those present, whose job it was to seek the best returns for investors, rather than patients, and few of whom knew about this wrinkle – I didn’t and I later found that many people I chatted to did not – complained or criticised Sir Austen for this.] It is my personal experience (OK Anecdata) that a higher proportion of individual capitalists than of state bureaucrats are generous, past the point to which they are compelled, to those in genuine need. John July 28, 2020 at 5:43 pm Chick-fil-A has enjoyed enormous support from America’s large Christian community and does not trade on Sundays. When the company was threatened with a boycott for supposedly anti-LGBT beliefs the Christians turned out in their hundreds of thousands, many queuing for hours to reach the drive-through window, as a show of support. Since then the founder S Truett Cathy has died and under his sons management the company has retreated markedly from its pro-Christian stance. As a result it is likely to suffer a significant loss of business. However the US cities, colleges and even airports who have always refused to allow Chick-fil-A franchises have yet to change their positions. This latest is an interesting gimmick but largely irrelevant for a company which made the questionable decision to move away from its core customer base. Pcar July 28, 2020 at 6:17 pm Coins: Do USA banks charge a fee for buying/selling bags of coins? @John +1 Son: Go Woke, Go Broke strategy BniC July 28, 2020 at 6:19 pm They caved over charity funding to what were deemed anti-LGTQ organisations (including the Salvation Army) and that didn’t stop the pressure on landlords leasing sites to them (multiple failed attempts to launch in U.K.), you would hope having giving appeasement a go the new guy would realise it doesn’t work and move on. You could understand a new leader trying it, would be an idiot if he pursues a failing strategy though. Gamecock July 28, 2020 at 7:22 pm ‘Any combination of coins will be excepted for a limited time until the need is met at the Wards Road location.’ Moron. “Diversity makes us stronger!” RichardT July 28, 2020 at 10:57 pm Why do the Yankees have a coin shortage? Mr Ecks July 29, 2020 at 2:44 am According to unconfirmed reports on Twatter Frost has caved to the EU on rules of origin–which seemingly means we have to use the EU as source for all sorts of parts , materials etc. At great cost to us. Any such cave could only be on Johnsons orders . No hint elsewhere. The fat fuck still blathering about his arse-reducing plans via cycling. Bloke in North Dorset July 29, 2020 at 6:29 am “ Go Woke, Go Broke strategy” I heard another theory recently that puts this the other way round, at least as far as the MSM is concerned. Most of the old newspaper MSM is slowly dying and this started before the great awokening, as they downsized they ended with younger, cheaper, staffers and going woke is like the last throw of the dice. The Meissen Bison July 29, 2020 at 7:27 am Any combination of coins will be excepted for a limited time … St Francis de Sales, patron saint of journalists, weep for your hopeless charges. Nautical Nick July 29, 2020 at 9:11 am Seems worth a try, assuming they need coins. It’s entrees being given away; they probably anticipate patrons eating more than that. And it’s generated free advertising, too. djc July 29, 2020 at 9:18 am BiND “Most of the old newspaper MSM is slowly dying and this started before the great awokening, as they downsized they ended with younger, cheaper, staffers and going woke is like the last throw of the dice.” The ‘progressives’ are anything but; they look backward, fifty years ago they would have targeted manufacturing, today they think the MSM is a ‘commanding height’. Maggots feasting on a corpse. MyBurningEars July 29, 2020 at 9:19 am @BIND Interesting theory which seems to have some merit to it. Would also work on explaining why some successful and rapidly growing firms have been “going woke” even though there’s absolutely no need to in terms of their customer base – as they expand, influx of young staff challenges the existing culture (think of Big Tech where the old style hacker subculture which valued technical skill above just about any other characteristic is no longer dominant), plus awareness they’re in competition for young staff making more traditional managers willing to pursue cultural changes that make the firm a more attractive recruitment destination to the young’uns. For the declining firms with an older consumer base may be worth considering that going woke could be part of a (not necessarily well thought out or implemented) attempt to grab consumer share in the younger segment. Think Gilette, which has struggled for the last decade with young American and European men being more prepared to go to work with facial hair. So their “woke” strategy could be seen as reaction to decline rather than instituting decline. I’m dubious that P&G would have staffed Gilette proportionately much younger than its other brands,so an explanation in terms of the urgency of selling to younger consumers makes more sense than a staffing reconstitution. Gamecock July 31, 2020 at 9:23 pm TMB, I didn’t think it necessary to highlight the error for our erudite readers. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.