Sometimes all it takes is a $2 bill, well maybe 8,000 of them, to get the ball rolling in a small community.
The $2 bill was the economic stimulus tool of choice for Danny Cottrell, a pharmacist in Brewton Alabama, who surprised all of his employees with a cash bonus last week. Full-time employees were given $700 and part-time staff received a respectable $300 under the condition that they donate 15% to charity and spend the rest at downtown businesses.
New York City Mayor Michael Bloomberg announced that the city would like to spend $45 million to retrain laid-off financial industry workers and provide capital and resources for businesses they might start.
Louis Lanzano, AP
Denny's Super Bowl ad, announcing a free Grand Slam breakfast for a limited time, drew crowds early Tuesday morning, Feb. 3, 2009.
Alex Slitz, The Saginaw News / AP
Denny's gave away Grand Slam breakfasts for one day in its 1,152 restaurants nationwide.
Alex Slitz, The Saginaw News / AP
Salvage groceries are items that get returned to warehouses for some reason -- dented cans, over-ordering, use-by dates are getting close or items that don't sell well. This "remainders" business is getting hot in our bad economy.
Many libraries across the country are experiencing an increase in patrons, especially job seekers who use the Internet to look for work and borrow DVDs for cheap entertainment. Even with budget cutbacks, some are thinking of buying more computer terminals and expanding wi-fi options.
Pat Wellenbach, AP
To try to spur tourism and help out local businesses, the state of Massachusetts is sponsoring a new program called MassValuePass which has coupons, special offers and huge discounts.
You don't have to just let unwanted gifts sit around in your house, gathering dust. With belts tightening, you need to make use of all your assets, so a new site, barterquest.com has found a way to match up people and their stuff to barter.
To deal with the rising cost of food, Royal Caribbean is adding a surcharge for steaks served in its dining rooms.
Hybrids are one option for fuel-conscious drivers, of course, but many are now opting for even smaller vehicles: scooters. Sales are up 66 percent so far in 2008. Honda is releasing its 2009 model early to capture as many customers as possible.
M. Spencer Green, AP
Blaming inflation and rising food and energy prices, the 99 Cents Only discount store announced it was bumping its top price to 99.99 cents -- or one-hundredth of a cent less than a dollar -- the first price increase in the chain's 26-year history.
Nick Ut, AP
The use of $2 bills may seem like an odd choice for demonstrating the financial impact of a stimulus package, but they have long been used by groups and communities to do just that because you can somewhat track the progress of the unusual denomination. Fifteen years ago, the African-American community in South Florida used $2 bills to demonstrate their financial power in a one-day show of strength and the $2 bills were recently pitched as a measure to protest Proposition 8.
Still, the overall effect past the first purchase may be hard to track as the bills aren't normally handed back out after being deposited in the bank, unless of course you ask for them. Additionally my colleague Meg Massie, who is from Thomas Jefferson's hometown, where the bills are commonly used, points out that many people believe $2 bills are rare and will actually hang onto them rather than spend them. Making a mental audit of my "piggy bank" I recall three or four $2 bills hidden away for safekeeping, right next to a roll of Susan B. Anthony coins that my grandparents used to tuck inside birthday cards.
Despite these facts many local shopkeepers have already noted an increase of $2 bills ending up in their tills at the close of business, with one owner gathering them up to use for her shopping needs at Cottrell's pharmacy. Even if the $2 bills end up in a bank safe in Alabama, the overall impact on this community has shown the power of giving funds directly to individuals.
It would be interesting to see how this kind of dollar tracking would work if it were applied to the federal bailout money given to banks as part of TARP. Something tells me not too many of the bills would see circulation...outside of golf sponsorships, high end resorts and stadium sponsorships.