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A new economic indicator

October 5, 8:01 PMBusiness News ExaminerScott Gingold
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Party on dude!


It was "Family & Homecoming Weekend" at my son's college this weekend and while I avoided work as much as possible, until now, of course my powers of observation are never at rest!

Part of our experience was going to the Sports Bar/Club where my hard-working collegian toils away to earn money for the "extras", and to have some sort of nest egg for when he graduates. Yes, before you ask, I am incredibly proud of him for this as well as the other ways in which he conducts himself and is planning for his future.

On Saturday night he was working and we decided to drop in and check the place out. The establishment is huge, and the club portion was filled to the brim with energetic highly motivated people eager to dance and enjoy some adult beverages. The vast majority of the guests were under the age of 30.

As I sat at the bar downing repeated glasses of ginger ale (Wow, I am old!) I was stunned to see how much cash was readily flowing between the bartenders and consumers. Let me say this again, CASH! According to my unscientific survey, 80% of the sales were cash, not American Express, MasterCard, Visa, Diners Club or Discover. It is also worth noting that no one was using coupons to pay for their drinks nor did there appear to be any "special" pricing for mixed drinks, shots or beer.

While I am not suggesting that we are not indeed experiecing a financial crunch, watching peope pay an $8.00 per person cover (cash) charge and drink as if they were planning to be marooned in the desert, I received my own advanced education this weekend!

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