Welcome to Rye Country Day's Economic Blog. Here you will find perspectives by students taking Economics at Rye Country Day School. It is meant to be a forum where students can openly express their ideas and take positions on relevant economic issues. I urge everyone to participate in presenting their own ideas in an open manner so that we can all learn from each other. Regardless of whether you are currently taking Economics, everyone is invited and encouraged to comment on articles and get involved. Feel free to e-mail me, Alex Osborne at alexander_osborne@rcds.rye.ny.us , with comments or suggestions.

Tuesday, January 9, 2007

Featured Entry - Television at the Pump

In the first couple days of class we have been disscussing the descisions and reasoning behind simple economic choices. The class learned that choices are made rationally, and often include a sacrafice that will result in benefit of some sort.
My father runs a money management firm, he and his partners are often involved in ventures that hopefully lead to a profit. I could not help but link a recent deal his firm made with the ideas we have been disscussing in class. In a nut shell, the firm was interested in funding computer screen technology for gas station pumps. Research the firm conducted indicated that investing in a company that provides such technology could be extremely lucrative, however, the company that produced the computer screens was on the brink of bankruptcy. The firm, Klingenstein Feilds & Co. L.L.C., still decided to invest in the struggling company. The cost to revive the company was unimaginable. Eventually Klingenstein Feilds was able to revive the television screen company. With the company revived, the idea has been sold to reputable gas companies such as Hess and Shell. The idea is to put T.V screens on all gas pumps. These screeens will advertise an assortment of different things ranging from soda, T.V shows, and news networks. The idea has been a success, and is starting on the West Coast (the weather is better for the T.V screens) and will slowly move East as the technology gets better.

-Matthew Pollinger


philip said...

So, you can run but you can't hide from mighty corporate America. Actually, the idea of having sceens in the gas terminals is a great (economic) idea. Most people have nothing better to do than to gaze off into space wishing that gas prices were lower when they are filling up their cars now. Its a market ready to be plucked and soon, i'm sure, many companies will be willing to pay great amounts of money for the right to advertise at gas stations all throughout America and beyond.

Hayley O'Neil said...

I disagree with putting TV screens at gas stations. I happen to value those 3-4 minutes of quiet reflection when standing at the pump, and I feel like being bumbarded with advertisements and news adds would definately be annoying. Also, are Americans being so deprived of TV that we actually need to be looking at them even during those few minutes? Is the American attention span so incredibly short that we require entertainment and distraction at essencially every moment? I guess the answer is yes- and because companies know our weakness they will be able to capitalize on it. If the TV is there, Americans will inevitably watch it making this idea an undoubtably lucrative and successful endeavor.
-Hayley O'Neil

Anonymous said...

Yeah, but Hayley, they're beckoning for your attention. They could care less about you spending quality time with yourself. They want you spending quality time with their product. If television screens are the most convenient (certainly one of the most captivating) methods of distraction, they will not hesitate to install them. Nobody can resist watching a television screen. The average American watches over 4 hours of television per day. We consume moving visuals at a disgusting rate. It's embedded in our culture. So why not take advantage of it? One day, every street corner will look like Times Square.

joshua Miller-Frankel said...

I think thats the most ridicolous idea i have ever heard. I mean i cant imagine people standing pumping their gas and seeing an ad for chips and go and buy those chips. I think most people either have the attendent pump the gas for them or they go inside get some cigerrettes, food or whatever else they want. I also think people are just focusing on getting their gas and getting on their way and wouldnt be to focused or concerned with a tv screen trying to sell them stuff.