Sometimes you notice something and realize: "Haven't seen one of those in a long time!"
Like this armored car that pulled up at the entrance of the Chicago Botanical Garden as my wife and I were leaving Monday.
Strolling through the grounds, I'd read a sign board listing the price for specialty cocktails — $17 —and figured there had to be a joke in there somewhat. "Must be raking it in with that spiced rum hot wassail concession..."
But rather than say that — shutting up is an art form I struggle to master —I fell to musing on the subject of armored cars. I used to see them all the time. Then again, I used to be walking around the Loop five days a week. There could still be one on every street corner, for all I know.
But i doubt it. I couldn't remember last time I'd seen one. I haven't touched money in weeks. My automatic assumption is that a decrease in cash usage has led to increased demand for armored cars.
Half true, according to an initial AI gloss. I asked if the armored car business suffered because of decrease use of cash. Cash is down but other services are up:
"Yes, the decreased use of cash due to digital payments puts downward pressure on the demand for traditional cash-in-transit (CIT) armored car services, forcing companies to diversify into handling high-value goods, documents, or investing in technology like smart safes; however, cash still remains vital for many, so the industry isn't disappearing but evolving with new security needs.Seeking to back that up — you cannot trust AI — I found this marketing report, that suggests steady growth for the CIT industry, thanks to that diversification.
Which got me curious — just what do they charge for hauling cash around? How much, for instance, to transport $1 million in cash five miles across Chicago? AI said that it depends on the route and the level of security provided, but anywhere from a few hundred dollars to $1,000 on bonded services like Loomis or Brinks. Sounds right.
My next question is: should I use AI to answer these questions, or tracking down the original sources? It seemed to boil down to a question of expectations. The first answer differed from what I thought —armored car companies are suffering — so I had to confirm that it was correct. The second answer, about the cost of armored car services, had what I call the "tang of veracity," so I trusted it. Why not? Everyone else seems to be doing it.
In Northeast Ohio, one routinely sees armored cars from a large security company called Garda World. It originated in Canada in the 90s and now serves the entire United States as well. Which is interesting, at least to me, because the An Garda Síochána, meaning "the Guardians of the Peace", is the national police and security service of the Republic of Ireland. They are more commonly referred to as the Gardaí...the "Guardians" or "the Guards". Which also happens to be the name of our Cleveland MLB team. Small world.
ReplyDeleteThe cannabis industry evidently has become a huge customer for CIT services.
ReplyDeleteI was just in South Alabama for a short vacation. While there I went to a nice water side restaurant. They had lunchtime cocktails for $1.00. That's right $1.00. Were I more of a drinker I might never have left. Odd.
ReplyDeleteRemember Thillens? They were ubiquitous for years, and sponsored a baseball field on the north side, on Devon I think.
ReplyDeleteImmigrant communities some less able to access the banking industry have a need for cash. Thats why you still see currency exchanges though less of them as well.
ReplyDeleteDebit cards and other forms of electronic funds transfer likely have lessened the use of armored cars.
What are the best most reliable sources for information? Thats a tough one. Probably independent professional news services. Unless journalists are relying on the internet for information.
Not as many of them around anymore either