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 firstname.lastname@example.org , 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.