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 Botanic 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 reduced 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.
ReplyDeleteSo ask the same question next year and see what AI says, seeing how the re-classification of cannabis will allow for credit card purchases and normal banking activities in the pot biz.
DeleteI 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.
ReplyDeleteThe Thillens name was associated with an old and historic Chicago business. In 1932, Mel Thillens, Sr. owned and operated a currency exchange. His clientele consisted of mostly factory and WPA workers. To eliminate tracking mud over his new office carpet, Mel conceived of the idea of bringing the money to the workers. And so, the first mobile armored car check-cashing service was invented...in Chicago.
DeleteThillens was also connected to Little League baseball. He built Thillens Stadium, at Devon and Kedzie, in the 1930s. That was where Little League would later start in Chicago. In the late 40s and early 50s. a number of ballgames were broadcast from Thillens on WGN-TV.
Thillens Stadium, which sometimes outdrew the hapless Cubs, was also where WGN's Jack Brickhouse pioneered the use of the center field camera. It was later adopted for Cub games at Wrigley, and today it is employed throughout professional baseball. The historic West Rogers Park ballfield is now owned by the Chicago Park District. And the Thillens company was recently acquired by a New York investment banking firm.
The legendary WGN voice, recalled that a "guy" saw a scoreboard and thought of putting a camera there to show the hitter and pitcher, a concept WGN implemented in a 1951 Little League game.
DeleteImmigrant 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
So, who stocks all those stand-alone ATMs if your premise is correct? And a follow: Does anyone still make armored cars if demand is ebbing?
ReplyDeleteA lot of those ATM's are independently owned, many of them by the "outfits" that own the gambling machines which are ubiquitous in this area. These guys are well armed and not wearing uniforms.
DeleteI see them in use at Will County, especially by the Jewel.
ReplyDeleteHere’s to the tang of veracity!
ReplyDeleteI remember Thillens, on Elston Avenue. The truck would come every payday and we'd line up to cash our checks. Pay the utility bills at the hardware store or company office, rent to the land lady.
ReplyDeleteHow can some businesses refuse to accept cash? At the stadiums, they want to you to download an app that needs your personal information and credit card so you enjoy the privilege of overpaying for food and joining their data bank.
Agree. Refusing legal tender should not be allowed. Have been fighting this ever since had to leave an ER to get a bottle of water as their vending machines only accept credit cards or smart codes from phones. It's been several years now of arguing with "customer service", surprise, without effect. They claim it saves the hospital money that is then spent on better patient care. What BS. Rent-a-doctors instead of in-house staff, fewer nurses, techs, etc. But, increase profit for their shareholders!
DeleteI still se them all the time. The Davis ones are different, as the driver actually has a shield between him & the passenger side of the seat.
ReplyDeleteBut the most interesting thing was the way the CTA used to collect the money from the L stations. It was a three man crew. all armed, one guy with a massive safe on a two wheeled hand truck that just rode the same trains as the passengers. It was narrow enough to fit between the narrow blinker doors on the 6000 series L cars. They would stop at each station & get off, then two would go to the cashiers & bring back the money & dump it in through the top of the safe!
Does everyone remember the armored car scene in "Groundhog Day?
ReplyDeletehttps://youtu.be/WiKbSM1FGUg
Here's a deleted scene from the film for you to enjoy:
https://youtu.be/zkYDS-aKp5U
btw, just read yesterday’s entry and your wife’s comment in the coda. She’s a keeper, but you knew that
ReplyDelete"My automatic assumption is that a DECREASE in cash usage has led to INCREASED demand for armored cars." ?????
ReplyDeleteFeeling like a bit of an elderly bumpkin here. I carry an old school money clip. Usually holding between $100 and $200. Walking around money. I use cash for at least 75% of daily transactions. It's not a myth. You really do spend less when you count out bills instead handing over a debit or credit card. Try it for three months. You will spend less on stupid impulse shit.
ReplyDeleteIt's all about the AI....the AI bubble..it will be the end of us before it drains all our water
ReplyDelete