Donuts, Drugs and a Bank

[QUINNSCOMMENTARY]

I am standing on a corner in a town near my home. Within my view are four banks, and obviously they are within the view of each other. If I look down the block a bit I see two more banks. Given they were not all built at the same moment, I have to assume all but the first knew there was going to be a plethora of such establishments.

Now I am standing on a corner in another town a few miles away, guess what, four more banks one just completed within the last few months.

Compare the number of bank branches with the statistics that show Americans are not saving, not paying their mortgages and have thousands of dollars in credit card debt and you have a conundrum of amazing proportions. Exactly what are people doing in those banks? Could it be that they are little more than ATMs with a large building attached, but that begs the question why we need four ATMs within a block of each other (not counting the ones in the stores surrounding the banks). I am befuddled. :rolleyes: Competition you say, for what? They all offer free checking, the same interest rates, and websites. I have to admit that their buildings are quite different with a unique look for each, is that the attraction?

We will finally know the answers when one or more of these banks turns into a 7 Eleven? Could it be that we simply don’t need so many bank branches? For the most part nobody can reach any of these banks without driving, they are only convenient if you have a car, and the money to put gas in it. But once you get to the bank you won’t have the money to deposit if you stopped at the gas station on the way.

Or on your way to the bank, you may have stopped at one of the 5769 Duncan Donuts in the U.S. There are 34 Duncan Donut stores within five mile of my home and 100 within ten miles. A lot of coffee and donuts have to be eaten to keep those stores afloat. And presumably a lot of money spent on stuff you mostly don’t need and shouldn’t eat. Did you ever see a Duncan Donuts go out of business? Actually Duncan Donut annual sales are $5.36 million sold to 3 million people a day. It must be one of those paycheck to paycheck things.

Traveling from the donut shop to a bank you may stop at a CVS or Walgreens pharmacy. There are only 6,300 CVS/pharmacy stores in 40 states with over 4 million customers a day (glad to see they are edging out the donut and coffee guy). But wait, what’s this; CVS’s revenue increased 62% in the first quarter of 2008 and earnings per share climbed 18%...time for a Congressional investigation don’t you think. What exactly is causing all those people to take more drugs?

Could it be the donuts? :wah:

So, now I think I have figured this out. First, you go to the bank to get some cash to go to Duncan Donuts, then after doing this for a while it is clear you probably need some cholesterol lowering drug so you head back to the bank for the money (lots of it) before going to CVS to purchase your drugs. Once you are in this cycle there is no end to it, although some of us may detour to a Starbucks once in a while.

There is a method to all this madness, you may have to drive to each of these places (requiring another stop at the bank or use of your bank card), but once you are in the vicinity you will be able to walk from the bank to the Duncan Donuts to the CVS…no problem and isn’t walking good for you?

[chonsigirl]

Walking is good for you, and you don't use any gas. I never stop at Dunkin Donut or Starbucks or any of those venues, take my own lunch to work, and walk on my break while other are snacking away. ATM machines are a rare stop for me, since I use direct deposit for most paychecks. They must be making their money off of someone else.

[Lon]

The last time I was physically in a bank was 1989, and since then I have dealt exclusively with a Online Bank that has no physical location. I love it. No lines, no waiting, no tellers, no problems. It does seem that some of these banks sole purpose is to provide ATM's and in view of the fact that all the banks seem to have online capability, it makes me wonder why so many branches.

I am not a big coffee drinker, but do love the smell of fresh brewed coffee.

Early Sunday morning I went to my local supermarket and the smell of Starbuck's coffee was wafting through the store. It was driving me nuts and I had to have a cup, but when I saw 12 or so people standing in line I said no way. I will not stand in line for a cup of coffee. I went home and had a cup of Yuban Instant.

Dunkin Dounuts-------------haven't been to one since I lived in New Jersey during the 40's.