Horse Hooky is July 11
It is starting to get hot as July is here, time for a steamy Al’s Corner note.
The quirky Horse Hooky is our main event this month held at FanDuel Park in Collinsville, IL. Post time is 1 pm for the first race on July 11. We usually have a good turnout for this event of around fifty. I am hoping to win some $$$ this time. My rules are always bet on the trainer that is best dressed (thinks they will be getting their picture taken after the race), any horse with more than 2 spotted feet (personal thought), and the grey horses (universally excepted). Some say never bet on the favorite because it only wins 30 % of the time. These are tried but not true methods for winning. We are generally located near the paddock circle indoors. See you there!
This month’s topic is a newish one for me but has been something I have been kind of stewing about for a while. The words are:
Greedflation
Excuseflation
These two words mean greed is fueling inflation. Instead of the wage-price spiral down, it is profit-based that is in play. Prices are still high, mostly to retain profits. Yet, it hides behind outdated reasons (Excuses) that have long since passed or stopped being a factor. A few of the reasons behind this holding up of prices is that labor and transportation are so much higher than before. Transportation for sure is not.
I write a transportation-related note each month that promotes the St. Louis Transportation Clubs events. I also try to tie together hundreds of topics with a view towards the transportation industry, or how it affects it. This includes shippers and the transportation side. On the transportation side shipping rates have fallen to epically low points currently. Twenty-five percent down in the last YEAR. Thus, drivers and carriers are beginning to leave the industry. Yet, when you go to the store everything is STILL much higher than it was pre-pandemic. On top of it, 100’s of items has stayed high, and even worse, the amount in the box has shrunk by 10-20%. Paying more, getting less, yikes!
I am surprised that prices on goods have not dropped much yet, but I expect they will as consumers refuse to pay the higher costs.
On the shipper’s side, many felt that their company got killed by the transportation part (price gauging), so it is payback time. I get it. I think both sides need to understand that you both want to make a living. But we live in a free market society, it is part of the deal.
A good example of price-busting the consumer was at the MLB game I attended last night. My wife and I bought:
One cheeseburger
One large hotdog
Two orders of fries
Two beers
Total $58
Plus, they wanted a tip, which I also hit the 20% tab.
Total $70 and the food was not even warm!
Now, I used to be in the food business, and from what I remember back then the food cost ran around 25%. In other words, if you paid $10 for your food, the food cost was $2.50 or more.
Let’s try and break down the cost.
Hamburger—$3
Hotdog——–$2
Buns .50 for both
Cheese—.30
Beer—-$3 for two
Box wrapping, condiments 1.20 total.
Total $10 cost=17% food costs
I think since they buy in volume it is even less. You also cannot add in the labor as a tip is added, and I doubt it is passed on the help.
This is gauging, and I will NEVER pay that again. I remember when I was little, mom packed us hamburgers in foil, plus chips for us at the game. So, I would suggest you bring your food, which is allowed (surprisingly) still. On top of the awful prices, the home team lost 14-0!
In conclusion, you must be careful what you spend your money on, with planning and budgeting being the key. I like to cook, so I rarely eat out unless it is with a customer or employee.
Have a great month, AL.