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<v Speaker 1>It's Nightside with Dan Ray on WBZY, Boston's news radio.

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<v Speaker 2>Thanks very much, Gal, nice to work with you tonight.

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<v Speaker 2>Help Hello everyone, and welcome on into a Wednesday night

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<v Speaker 2>edition of Nightside. My name is Dan Ray, host of Nightside.

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<v Speaker 2>Rob Brooks, our producer for many years, is back in

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<v Speaker 2>the control room in the big broadcast facility in Medford, Massachusetts.

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<v Speaker 2>He'll begin to answer your phone calls when we start

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<v Speaker 2>taking phone calls in the nine o'clock hour. We're going

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<v Speaker 2>to be talking at nine o'clock with Boston City Council

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<v Speaker 2>at Flynn about the nephism ethics reform. It's a bit

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<v Speaker 2>of an understatement at the Boston City Council. Maybe we

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<v Speaker 2>need some ethics perform at Boston City Hall generally. And

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<v Speaker 2>then we are going to talk with a really interesting guest,

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<v Speaker 2>but not that at Flynn won't be interesting, but an

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<v Speaker 2>interesting guest talking about what happened on Wall Street today.

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<v Speaker 2>A complete one hundred and eighty degree turnaround by the

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<v Speaker 2>folks on Wall Street, A big day on Wall Street.

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<v Speaker 2>If you were waiting for the walls for the markets

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<v Speaker 2>to bump back up, today was today. And we will

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<v Speaker 2>be talking with Jaredillion. He is a founder and principal

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<v Speaker 2>of a company called Jared Dillion Money, and he's an

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<v Speaker 2>author of several books, some of which you may have read.

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<v Speaker 2>He's a money guy, and we'll get a sense from

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<v Speaker 2>him as to what happened, why it happened, and what's

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<v Speaker 2>likely to happen tomorrow and going forward, simple as that.

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<v Speaker 2>But first, as we always do with the eight o'clock hour,

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<v Speaker 2>we have four interesting guests for you to listen to,

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<v Speaker 2>and they will tell you and me what's going on

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<v Speaker 2>in this world. Again, some of these stories are very

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<v Speaker 2>big stories. Some of them are not so big, but

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<v Speaker 2>all of them do have some impact on your life

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<v Speaker 2>in mind. So that's the way we start tonight. And

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<v Speaker 2>I'm delighted to introduce John Vincent. He's going to talk

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<v Speaker 2>to us about the tariffs impact on cars. Now, the

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<v Speaker 2>tariffs have sort of been or some of the tariffs

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<v Speaker 2>have been put on ice for about ninety days, so

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<v Speaker 2>you know that's that's a situation that has just changed.

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<v Speaker 2>So let's talk with John Vincent about today. John forget

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<v Speaker 2>for the moment, the turnaround in the stock market. What's

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<v Speaker 2>perhaps more important to car dealers is that these tariffs

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<v Speaker 2>have been put on ice here for at least what

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<v Speaker 2>we're talking three months. John Vincent, Welcome to Nightside. How

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<v Speaker 2>are you.

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<v Speaker 3>I'm good. Do you have whiplash yet?

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<v Speaker 2>Yeah, a little bit, I'll tell you, boy. Yesterday up

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<v Speaker 2>fourteen hundred, down three hundred by day's end. Yeah, there

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<v Speaker 2>was a pretty good amount of whiplash taken place yesterday.

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<v Speaker 2>Today was like a rocket ship. It just it kind

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<v Speaker 2>of was, you know, a little up, a little down,

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<v Speaker 2>and then vavoom, it took off.

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<v Speaker 3>Except for the car industry because the car industry is

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<v Speaker 3>excluded from that ninety day extension.

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<v Speaker 2>Oh so, so cars from Japan or cars from Canada

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<v Speaker 2>will be impacted, will be impacted anywhere. Okay, Well, that

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<v Speaker 2>that's a big industry. Why do you think that it

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<v Speaker 2>happened that way?

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<v Speaker 3>I have no idea, and I don't know whether anybody else.

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<v Speaker 2>Well that's a good answer. That that's that. I love

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<v Speaker 2>guests to give me honest answers. So let's talk about it.

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<v Speaker 2>You're a senior editor and carrespondent for vehicle testing on

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<v Speaker 2>the Auto teams at US News and World Reports. So

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<v Speaker 2>you've covered this for a while.

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<v Speaker 1>How long?

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<v Speaker 2>Let me ask you this question, how long will it

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<v Speaker 2>be before we begin to see increases on dealers new

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<v Speaker 2>cars on the lots, you know, around the country and

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<v Speaker 2>around New England as a consequence of the tariffs. I

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<v Speaker 2>was under the impression, and thank you for correcting me,

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<v Speaker 2>that that everything was put on hold for ninety days.

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<v Speaker 2>But as you said, car tariffs are are still in effect.

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<v Speaker 2>So when will we start to see that impact.

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<v Speaker 3>In your opinion last weekend, they're already hitting dealer prices

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<v Speaker 3>because a lot of people are getting into the market

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<v Speaker 3>thinking they need to get a new car right now.

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<v Speaker 3>And when there's more demand chasing the same supply, prices

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<v Speaker 3>go up.

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<v Speaker 2>So let me ask the car dealers taking advantage of

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<v Speaker 2>their customers. At this point, obviously there has not yet

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<v Speaker 2>been a tariff paid by a car dealer. That seems

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<v Speaker 2>a little cynical.

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<v Speaker 3>Buying a car in America. Is you know what the

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<v Speaker 3>market will bear?

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<v Speaker 4>No.

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<v Speaker 2>I do understand that that's capitalism, But I got to say,

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<v Speaker 2>if I go to my car dealer and all of

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<v Speaker 2>a sudden, I see that that bumped up the price

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<v Speaker 2>four five thousand dollars, that four or five thousand dollars,

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<v Speaker 2>and I assume that's what we're talking about correct. On

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<v Speaker 2>you know, a thirty five forty thousand dollar car, we're

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<v Speaker 2>talking about a bump of four or five thousand dollars.

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<v Speaker 3>Probably not that much yet, but you're probably seeing a

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<v Speaker 3>tightening to MSRP, so you're not going to see a discount.

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<v Speaker 2>Okay, So what you're saying the dealer, if we go

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<v Speaker 2>this weekend, they're likely to say, I can't do anything.

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<v Speaker 2>MSRP is what it is. If you want to buy

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<v Speaker 2>the car, go ahead. If you don't, I got five

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<v Speaker 2>guys coming in the door.

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<v Speaker 3>Behind you, exactly, and they're probably busy enough that you know,

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<v Speaker 3>they'd rather just find that customer who will give them

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<v Speaker 3>that sticker price than somebody who's going to take an

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<v Speaker 3>hour to dicker.

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<v Speaker 2>Yeah. No, I do understand that, but there's just something

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<v Speaker 2>about that that seems a little swam swammery to me.

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<v Speaker 3>I agree, I agree, But that's the system we have.

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<v Speaker 2>Well, I mean, it is a system we have, but

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<v Speaker 2>also the system your integrity as a seller of any

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<v Speaker 2>product is important for the long term. You know, if

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<v Speaker 2>you're gonna charge me a couple thousand dollars extra for

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<v Speaker 2>the thread of tariffs as opposed to the actual implementation

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<v Speaker 2>of teriffs, I might look at you a little differently.

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<v Speaker 2>Am I trying to go find a different dealer to

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<v Speaker 2>be really honest with them? I'm I'm kind of surprised that.

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<v Speaker 2>See that seems to me downright cynical, because look, if

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<v Speaker 2>the new wave of cars come in and it's cost them,

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<v Speaker 2>what's it going to cost them on a tariff? Would

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<v Speaker 2>you say on a let's say a forty thousand dollars car.

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<v Speaker 3>It's hard to say because it depends on where that

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<v Speaker 3>car and its components are built. It could be a

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<v Speaker 3>few thousand dollars. It could be fifteen thousand dollars.

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<v Speaker 2>Well, theoretically, it could be nothing if it's an American

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<v Speaker 2>built car.

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<v Speaker 3>Well, the most American built car in the US is

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<v Speaker 3>the Tesla Model three Performance, and it is eighty seven

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<v Speaker 3>percent US parts, So thirteen percent that's parts will be tariffed.

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<v Speaker 3>There is not a single single car sold in the US.

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<v Speaker 3>They will not be struck by these tariffs.

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<v Speaker 2>Okay, Well, I'm told I'm told that, for example, BMW

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<v Speaker 2>has a factory in South Carolina, and I'm told by

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<v Speaker 2>someone that the cars before they have finished, they're essentially

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<v Speaker 2>constructed here. They they're taken by boat back to Europe

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<v Speaker 2>and then they come back as the finished product. Is

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<v Speaker 2>that true?

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<v Speaker 3>That's not true.

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<v Speaker 2>You bet that's not true.

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<v Speaker 3>That is not true. Hey, you guys who would never

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<v Speaker 3>make money off those cars if they had to ship

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<v Speaker 3>them across the ocean twace.

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<v Speaker 2>Well, well, they were saying it's built here, shipped over there,

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<v Speaker 2>and then brought back. So you're saying, if it's built here,

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<v Speaker 2>there's no way that's going to be sent to overseas

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<v Speaker 2>for anything. However, some of the parts of the car

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<v Speaker 2>that is built here, even though it's physically built here

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<v Speaker 2>in America, because certain parts of that car were shipped here,

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<v Speaker 2>that will reflect a percentage of the car. Okay, I

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<v Speaker 2>get it.

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<v Speaker 3>Say we're talking about a BMW X three, where its

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<v Speaker 3>transmission might come from Germany, its tires might come from Mexico,

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<v Speaker 3>other components might come from Canada. All those different components

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<v Speaker 3>are going to be teariffed at different rates, and those

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<v Speaker 3>different prices are going to have to be built into

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<v Speaker 3>that car.

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<v Speaker 2>Okay. So I think what Trump is saying is that

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<v Speaker 2>that we have tire manufacturers in this country. Maybe what

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<v Speaker 2>they have. What he's trying to do is convince them

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<v Speaker 2>to put American tires on cars manufacturing in America.

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<v Speaker 3>If America could make enough tires to fit all of

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<v Speaker 3>the cars that are made in America, that would be great.

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<v Speaker 3>But it's a very it's a very interconnected supplier ecosystem,

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<v Speaker 3>and so the factories that supply all the parts to

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<v Speaker 3>the cars built in America are all over North America,

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<v Speaker 3>and the United States on its own cannot support the

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<v Speaker 3>number of parts to go on every car built here.

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<v Speaker 2>Okay, So how long will it take for America to

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<v Speaker 2>in effect bring this stuff home and say we're going

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<v Speaker 2>to build cars in America in your opinion.

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<v Speaker 3>So, some manufacturers who have excess plant capacity, like GM

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<v Speaker 3>with their truck plants, can do it relatively quickly, and

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<v Speaker 3>relatively quickly quickly means six months to a year, because

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<v Speaker 3>it's not just you know, GM deciding to put a

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<v Speaker 3>third shift on, it's bringing all of their suppliers along

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<v Speaker 3>to build the parts that have to go into the factory.

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<v Speaker 2>Okay, so and they so if GM is ahead of

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<v Speaker 2>the game here, aby, GM will be able to sell

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<v Speaker 2>cars more cheaply or less expensively, to put it that way,

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<v Speaker 2>than some other car manufacturers, And maybe that will give

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<v Speaker 2>GM a little bit of an invite.

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<v Speaker 3>A little bit of a damage, except that the excess

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<v Speaker 3>capacity is in the pickup truck plants, which are some

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<v Speaker 3>of the most expensive and high margin vehicles they make.

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<v Speaker 2>Okay, all right, Well, look.

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<v Speaker 3>Nissan Versa from Mexico with a Chevy Silverado.

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<v Speaker 2>Yeah no, I'll tell you. I've been a Vovo guy

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<v Speaker 2>for a long long time. I'm going to intentionally go

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<v Speaker 2>shop for American cars. I've got an eleven year old

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<v Speaker 2>Vovo which has served me well. I'm going to try

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<v Speaker 2>to make my next car an American car.

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<v Speaker 3>So you can buy a Volvo ex ninety built in

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<v Speaker 3>South Carolina.

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<v Speaker 2>Well, if it's truly built in South Carolina and it's

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<v Speaker 2>not customer money extra money, that's that sounds good? Hey John, Thanks,

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<v Speaker 2>thanks very much. I assume folks can read your stuff.

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<v Speaker 2>You sound like you're on top of your game. Senior

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<v Speaker 2>editor and correspondent and US News and World Report, John,

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<v Speaker 2>we went a little over in time. I thank you

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<v Speaker 2>for your patience. You've been a great guest. Thank you

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<v Speaker 2>so much, very much. I appreciate your time. Thanks John

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<v Speaker 2>Vincent of US News and World Report. And we get back.

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<v Speaker 2>We're going to introduce you to a Boston Globe correspondent

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<v Speaker 2>who is going to talk about Boston's first and only

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<v Speaker 2>pod hotel. Wait, do you hear this story? This is

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<v Speaker 2>going to shock you.

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<v Speaker 1>Night side with Dan Ray, I'm telling you Boston's News.

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<v Speaker 2>Radio delighted to welcome Adelai Parker. She's a Boston Lolbe

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<v Speaker 2>correspondent who has actually experienced pod hotels in Japan, so

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<v Speaker 2>she really has some experience. And now Boston's first pod

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<v Speaker 2>hotel is in existence. Adelaide for those of us who

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<v Speaker 2>have never stated a pod hotel, which means probably ninety

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<v Speaker 2>nine nine percent of my audience, what exactly is a

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<v Speaker 2>pod hotel?

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<v Speaker 5>Yeah? Well, first of all, thank you for having me on.

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<v Speaker 5>A pod hotel is sort of this hotel idea that

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<v Speaker 5>was first pioneered in Japan in nineteen seventy nine, and

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<v Speaker 5>it tries to save the maximum amount of space, so

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<v Speaker 5>it literally only gives you the bare essentials, which means

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<v Speaker 5>that it essentially puts you in this coffin or mri

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<v Speaker 5>sized pod that has a mattress, a pillow, and then

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<v Speaker 5>you get in there and you sleep and there's oftentimes

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<v Speaker 5>not even enough space to sit up in and so

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<v Speaker 5>it's meant to be kind of like a hostel, you know,

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<v Speaker 5>low cost auction for when you're traveling that really only

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<v Speaker 5>provides you with the basic necessities.

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<v Speaker 2>I assume that if you're claustrophobic, this could be a problem.

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<v Speaker 5>I think it could be a problem with your claustrophobic.

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<v Speaker 5>When I was staying in pod hotels, though, I actually

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<v Speaker 5>found them to be a lot better than I expected.

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<v Speaker 5>The ones I stayed and had really good ventilations, so

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<v Speaker 5>they didn't feel stuffy at all, and inside they actually

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<v Speaker 5>seem a lot bigger than they look on the outside.

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<v Speaker 2>So you got to kind of crawl into them, right

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<v Speaker 2>if you don't walk into them.

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<v Speaker 5>Yeah, no, you can't walk into them. You have to

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<v Speaker 5>kind of crawl. You have to, yeah, like go in

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<v Speaker 5>and go in head first and then and then crawl

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<v Speaker 5>a little to get to the end.

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<v Speaker 2>Okay, So now the ones that I have seen primarily

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<v Speaker 2>like at Japanese train stations, which is crazy. It almost

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<v Speaker 2>looks like like a big bunch of mail boxes or something.

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<v Speaker 2>You know, does how much privacy do you have? I

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<v Speaker 2>assume there's a door that you can close and can

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<v Speaker 2>lock from the inside.

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<v Speaker 5>Ah yeah, yeah, So normally you're in this little pod.

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<v Speaker 5>One of the ones I stayed in in Japan looked

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<v Speaker 5>like an MRI machine, And so you go inside and

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<v Speaker 5>there's normally a blackout curtain that you can lower over

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<v Speaker 5>the mouth of the pod, and then it'll be black

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<v Speaker 5>on the inside. It normally doesn't lock, because it's more

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<v Speaker 5>of a curtain, but you have the curtain for darkness

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<v Speaker 5>and for privacy, and then they're all be a locker

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<v Speaker 5>under the pod or somewhere else in the building where

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<v Speaker 5>you can securely store your stuff.

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<v Speaker 2>Okay, so how's the pod hotel in Boston. Is it similar, identical,

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<v Speaker 2>or a little different than the ones you stayed at

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<v Speaker 2>in Japan.

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<v Speaker 5>It's pretty similar in that you know, it's a pod

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<v Speaker 5>hotel and so it has these beds in pretty small spaces,

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<v Speaker 5>but the esthetics were very different. The one in Japan

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<v Speaker 5>was very smooth, very plastic, lots of like white plastic surfaces,

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<v Speaker 5>and then the pods themselves are a bit smaller, while

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<v Speaker 5>the one in Boston had these wood paneled square pods

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<v Speaker 5>rather than the rounder ones in Japan, and the pods

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<v Speaker 5>themselves are actually a bit bigger as well.

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<v Speaker 2>Okay, so where is the pod hotel in Boston, assuming

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<v Speaker 2>someone would like to experience a pod hotel or they

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<v Speaker 2>would like to utilize it if they have a friend

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<v Speaker 2>of these visiting Boston.

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<v Speaker 5>That's called Mecco Hotel and it's in the West End.

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<v Speaker 5>It's actually less than a block away from p D

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<v Speaker 5>Garden on just a little side street, the branch of

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<v Speaker 5>off of the main street that TV Garden is on.

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<v Speaker 2>Okay, so now the big question is what's it cost

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<v Speaker 2>per night? Does it vary whether it's the Bruins with

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<v Speaker 2>Celtics or home or or is it a standard charge.

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<v Speaker 5>I don't think it varies by night. It's a standard charge,

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<v Speaker 5>but it can vary by the kind of pods that

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<v Speaker 5>you get. They have smaller bunk deed pods, which are

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<v Speaker 5>essentially just bug beds with curtains you can close over

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<v Speaker 5>an opening. And then they also have larger single bed pods,

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<v Speaker 5>which are sort of like a bunk bed, but they

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<v Speaker 5>don't have a bunk on the top, so you have

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<v Speaker 5>a higher ceiling.

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<v Speaker 2>Okay, so what's the top price if you really want

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<v Speaker 2>to go crazy and you want a single room as

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<v Speaker 2>opposed to shooting a room with a stranger.

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<v Speaker 5>Yeah, so the one I stayed in, which was one

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<v Speaker 5>of the larger pods, was eighty five dollars tax included.

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<v Speaker 5>And then I think, if you want your own room,

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<v Speaker 5>you just have to go to a non pod hotel.

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<v Speaker 3>Unfortunately, yeah, we're not your own room.

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<v Speaker 2>So when you were there, how many other people were

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<v Speaker 2>within your area? And did any of them snore loudly?

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<v Speaker 5>It was pretty empty. I actually only saw one other

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<v Speaker 5>person while I was in the hotel, staying on my floor,

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<v Speaker 5>and she was talking on the phone a little bit

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<v Speaker 5>before I went to bed, but I ended up just

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<v Speaker 5>closing my curtain and I turned on my stand and

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<v Speaker 5>that totally drowned her out.

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<v Speaker 2>Would you recommend this? This this sort of again, I

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<v Speaker 2>realized that economics are involved here. It sounds to me like,

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<v Speaker 2>is anyone worried about you know, you get into a

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<v Speaker 2>situation where there's somebody who is either belligerate. I mean,

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<v Speaker 2>you know, if you're in a regular hotel and somebody's

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<v Speaker 2>loud in the next room, you can always call down

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<v Speaker 2>to the front desk and say, hey, they have party

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<v Speaker 2>in the next room. Can someone go up and you know,

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<v Speaker 2>quiet them down? Did you think about that? You're in

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<v Speaker 2>a situation and there could be three or four people.

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<v Speaker 2>Did that you could have some you know, some drunk

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<v Speaker 2>college guys having a a a great time, and you

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<v Speaker 2>wouldn't have wouldn't get a good night's sleep.

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<v Speaker 5>I thought about that a little bit. I was on

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<v Speaker 5>a women's only floor, which like ease my worries a little,

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<v Speaker 5>and I think that it kind of just carries the

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<v Speaker 5>same risks as staying in any hostel. I think it's

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<v Speaker 5>really more comparable to a hostel than a traditional hotel.

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<v Speaker 5>So you will be in a room with other people,

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<v Speaker 5>you might be disrupted, but you treat that for being

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<v Speaker 5>a bit less expensive than a normal hotel.

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<v Speaker 2>Wow, and this is the first one in Boston. Do

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<v Speaker 2>you think that what's the capacity in terms of this location,

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<v Speaker 2>between all the different types or whatever? How many people

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<v Speaker 2>can they accommodate on any given night?

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<v Speaker 5>And do they can accommodate a couple hundred people? Although

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<v Speaker 5>I'm not quite sure what the capacity is, but I.

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<v Speaker 2>Think it's like number that's a big yeah, yeah's a

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<v Speaker 2>great And in this building is it a new building?

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<v Speaker 2>Was it a building that they know? There's a lot

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<v Speaker 2>of older buildings down in that portion of the Lower

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<v Speaker 2>West End, The old West End. Was it a new

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<v Speaker 2>building or a building that they basically refurbished an older

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<v Speaker 2>building refurbished?

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<v Speaker 5>The building looked relatively new when I was there, but

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<v Speaker 5>I'm not sure if it was completely new or if

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<v Speaker 5>it was maybe an older building that had the facadically furbished,

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<v Speaker 5>but inside looks very new.

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<v Speaker 2>Okay, So now the question is when does this piece

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<v Speaker 2>hit the Globe or has it hit the global already?

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<v Speaker 2>Because I want to go read the piece now.

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<v Speaker 5>Yeah, so the pieces hit the global already and you

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<v Speaker 5>can find it online if you go to Globe dot

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<v Speaker 5>com under our Travel section, which is under our Broader

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<v Speaker 5>Lifestyle section.

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<v Speaker 2>Okay. Has it been in both the digital in print

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<v Speaker 2>or just the digital.

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<v Speaker 5>I believe it actually comes out today in the print

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<v Speaker 5>issue because a lot of the travel pieces come out

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<v Speaker 5>on Wednesday.

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<v Speaker 2>Well, I got my Globe. I haven't read the travel section.

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<v Speaker 2>I'll be reading it right after the show. Adelaide, I

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<v Speaker 2>really enjoyed the conversation. Adelaide park Or, a Boston Globe

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<v Speaker 2>correspondent who shared her experience with Boston's first pod hotel.

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<v Speaker 2>You're great, sport, Thank you very much. It's your adventuresome.

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<v Speaker 2>You got some great journalistic congratulations and thanks for being

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<v Speaker 2>on with us, and I hope to have you on again.

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<v Speaker 3>Yeah.

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<v Speaker 5>Great to talk with you. Thank you so much.

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<v Speaker 2>Thanks Adelade, you were wonderful. When we get back right

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<v Speaker 2>after the news, at the bottom of the air, we're

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<v Speaker 2>going to talk about the preparations for Salem's four hundredth anniversary.

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<v Speaker 2>Salem is actually older than Boston. They're underway ahead of

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<v Speaker 2>twenty twenty six. My name's Dan Ray. This is Nightside.

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<v Speaker 2>We hear every money through Friday night from eight and

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<v Speaker 2>to midnight. If you've missed any past night Side, you

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<v Speaker 2>can go to Nightside and demand and download and listen

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00:19:30.839 --> 00:19:35.599
<v Speaker 2>to our podcast. Speaking of pods, every Hour is podcast

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00:19:36.680 --> 00:19:39.839
<v Speaker 2>is put up on our podcast and available free of charge.

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00:19:39.839 --> 00:19:42.400
<v Speaker 2>You can share it with friends all sorts of different

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00:19:42.440 --> 00:19:46.440
<v Speaker 2>interesting topics. Feel free to spread the word. That's for sure.

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<v Speaker 2>On a call. So you also know that we're WBZ,

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<v Speaker 2>Boston's oldest, the oldest radio station in New England, but

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<v Speaker 2>with the most modern two Because we're an iHeart media station.

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<v Speaker 2>You can pull down the new and improved iHeart app,

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00:19:59.680 --> 00:20:03.279
<v Speaker 2>put it on all of your devices and then WBZ

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<v Speaker 2>will only be a fingertip away from you make our

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<v Speaker 2>us WBZ your first preset wherever you are in the world,

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<v Speaker 2>three hundred and sixty five days a year, twenty four

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<v Speaker 2>to seven. It's like you're at home. My name's Dan Ray.

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<v Speaker 2>Back right after the news at the bottom of the hour.

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<v Speaker 1>You're on Night Side with Dan Ray. I'm WBZ, Boston's

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<v Speaker 1>news radio.

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<v Speaker 2>For many people do not realize that the city of

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<v Speaker 2>Salem is older than the city of Boston. With us

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<v Speaker 2>as Salem Mayor Dominic Pengalo maya Begalo, Welcome back to Nightside.

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<v Speaker 2>How are you.

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<v Speaker 6>I'm well, Thanks Dan, thanks for having me on.

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<v Speaker 2>Yeah, I mean Boston. We I guess we're sixteen thirty.

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<v Speaker 2>If I'm not mistaken, I think that will be our

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<v Speaker 2>four hundredth and.

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<v Speaker 6>You guys are young, yeah, but you're yeah.

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<v Speaker 2>By four years, by four years. How was it that

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<v Speaker 2>Salem got themselves established and became a city in advance

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<v Speaker 2>of Boston. I mean, you guys just smarter and said, hey,

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<v Speaker 2>let's be a city.

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<v Speaker 6>I think it was just the timing of the arrival

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<v Speaker 6>of the Europeans that landed here and settled this on

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<v Speaker 6>of this land. You know, we were calling our celebrations

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<v Speaker 6>Salem four hundred plus, because we're also recognizing that there

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<v Speaker 6>was certainly many centuries of indigenous history here before the

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<v Speaker 6>European arrival. But savteen twenty six of the year that

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<v Speaker 6>we're marketing the four hundredth anniversary of next year in

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<v Speaker 6>twenty twenty six, So.

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<v Speaker 2>Tell us about some of the activities that everybody, it's

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<v Speaker 2>just not pop not Salemites, but everybody can go up

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<v Speaker 2>there and join with the population of Salem and celebrate

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<v Speaker 2>the anniversary. What do you get planned?

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<v Speaker 6>Yeah, we've been working on planning for this for quite

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<v Speaker 6>some time. We started back in twenty seventeen, setting some

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<v Speaker 6>money aside in the budget in twenty nineteen, really getting

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<v Speaker 6>in our mist and some signature park investments are most

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<v Speaker 6>beloved larger parks, providing a twenty million dollars bond to

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<v Speaker 6>invest in those and really upgrade them in anticipation of

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<v Speaker 6>twenty twenty six. So the year ahead, we're going to

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<v Speaker 6>be starting it with a big volunteer celebration, trying to

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<v Speaker 6>encourage people to spend the year thinking about how they

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<v Speaker 6>can get back to their community, and then there'll be

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<v Speaker 6>signature events throughout the year. The first muster of the

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<v Speaker 6>National Guard is always an annual celebration we have here

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<v Speaker 6>in Salem in April, the especially powerful In twenty twenty six,

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<v Speaker 6>we'll be celebrating the fourth of July with some special

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<v Speaker 6>activities on fourth of July that year, and we'll be

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<v Speaker 6>bringing back to Heritage Day's Parade, which happens in August.

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<v Speaker 6>It happened for many decades. Those of us who grew

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<v Speaker 6>up in Salem remember the Heritage Days Parade is a

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<v Speaker 6>great community celebration. It's been gone for a number of

424
00:22:30.759 --> 00:22:34.000
<v Speaker 6>years now. We're going to bring it back for the

425
00:22:34.039 --> 00:22:36.799
<v Speaker 6>sale point or plus celebrations, and then Mayor's Night Out

426
00:22:37.039 --> 00:22:39.759
<v Speaker 6>in September celebrates the fall season here and we wrap

427
00:22:39.839 --> 00:22:41.759
<v Speaker 6>up the year with the closing event in December. But

428
00:22:41.839 --> 00:22:45.359
<v Speaker 6>really we're encouraging people if they're affiliated with a group

429
00:22:45.400 --> 00:22:47.960
<v Speaker 6>here that does a festival, that does an event you

430
00:22:48.000 --> 00:22:50.400
<v Speaker 6>know other times throughout the year, go to Salem four

431
00:22:50.440 --> 00:22:52.799
<v Speaker 6>hundred dot org. Take the volunteer pledge first of all,

432
00:22:52.799 --> 00:22:54.839
<v Speaker 6>because we want people to sign up to volunteer hours

433
00:22:54.880 --> 00:22:56.720
<v Speaker 6>and over the course of the year. But if you're

434
00:22:56.759 --> 00:22:59.680
<v Speaker 6>with an organization add your events to the community calendar.

435
00:23:00.200 --> 00:23:02.599
<v Speaker 6>We want to really populate that calendar with opportunities for

436
00:23:02.680 --> 00:23:04.480
<v Speaker 6>people to come out and celebrate all year long.

437
00:23:05.400 --> 00:23:08.519
<v Speaker 2>So there are going to be and again when just

438
00:23:08.799 --> 00:23:11.480
<v Speaker 2>you know, people can forget. We're talking about twenty twenty six,

439
00:23:11.519 --> 00:23:14.880
<v Speaker 2>which is next year, so you still have some planning time.

440
00:23:15.200 --> 00:23:19.319
<v Speaker 2>So you mentioned certain specific dates, and I assume a

441
00:23:19.319 --> 00:23:21.839
<v Speaker 2>lot of them are going to revolve around weekends. I

442
00:23:21.880 --> 00:23:22.680
<v Speaker 2>assume correct.

443
00:23:23.759 --> 00:23:26.720
<v Speaker 6>Yeah, absolutely, those are the dates that we're focusing on

444
00:23:26.759 --> 00:23:28.960
<v Speaker 6>for some of the signature events, but our festivals happen

445
00:23:29.039 --> 00:23:32.279
<v Speaker 6>throughout the year and many days, many days of the week.

446
00:23:32.920 --> 00:23:34.720
<v Speaker 6>We have a special thing that we're adding for next

447
00:23:34.799 --> 00:23:37.599
<v Speaker 6>year for the four hundred called Parks Day. It's Parks

448
00:23:37.640 --> 00:23:39.960
<v Speaker 6>Days and September twelfth to the thirteenth, where we'll be

449
00:23:39.960 --> 00:23:42.799
<v Speaker 6>opening up all of our parks. People can book them

450
00:23:42.839 --> 00:23:44.359
<v Speaker 6>and the fees are waived if you want to have

451
00:23:44.359 --> 00:23:47.799
<v Speaker 6>a special event, neighborhood gathering, any kind of community celebration.

452
00:23:47.920 --> 00:23:49.839
<v Speaker 6>We really want people to get out and enjoy the

453
00:23:49.880 --> 00:23:52.160
<v Speaker 6>amazing open public spaces that we have in the city.

454
00:23:53.240 --> 00:23:56.799
<v Speaker 2>You know, it's a great city. Of course, when we

455
00:23:56.839 --> 00:24:02.920
<v Speaker 2>think of Salem, oftentimes you think of Halloween celebrations. Have

456
00:24:02.960 --> 00:24:06.200
<v Speaker 2>been saying, am all of that is the four hundredth

457
00:24:06.240 --> 00:24:09.480
<v Speaker 2>in October of twenty twenty six, Is that going to

458
00:24:09.480 --> 00:24:11.480
<v Speaker 2>be one of the major events? I mean, if anything,

459
00:24:11.519 --> 00:24:15.039
<v Speaker 2>that's that in October obviously October thirty first, Is that

460
00:24:15.079 --> 00:24:17.559
<v Speaker 2>going to be the final big event or will you

461
00:24:17.599 --> 00:24:19.240
<v Speaker 2>treated just as a regular Halloween.

462
00:24:20.200 --> 00:24:23.079
<v Speaker 6>Yeah, so we the Mayor's Night Out celebration is on

463
00:24:23.119 --> 00:24:25.359
<v Speaker 6>the final Friday of September, and it's kind of the

464
00:24:25.440 --> 00:24:29.000
<v Speaker 6>kickoff or the community for the October season, and then

465
00:24:29.039 --> 00:24:31.480
<v Speaker 6>October is going to be just a regular that happening

466
00:24:31.519 --> 00:24:33.920
<v Speaker 6>is fun, you know, there's nothing specific to sale four

467
00:24:33.960 --> 00:24:37.240
<v Speaker 6>hundred during the month, although we certainly invite anybody planning

468
00:24:37.279 --> 00:24:39.400
<v Speaker 6>events in October and Salem to add them to the

469
00:24:39.440 --> 00:24:42.200
<v Speaker 6>community calendar so people can find them and see how

470
00:24:42.240 --> 00:24:46.599
<v Speaker 6>they're affiliated with the quad centennial celebrations. But the closing

471
00:24:46.599 --> 00:24:48.400
<v Speaker 6>event will be in December as the end the year

472
00:24:48.519 --> 00:24:51.559
<v Speaker 6>and reflect on the history, the moment that we're in

473
00:24:51.599 --> 00:24:54.039
<v Speaker 6>now and then what happens in the future in the

474
00:24:54.079 --> 00:24:55.880
<v Speaker 6>decades and the centuries to come for our city.

475
00:24:56.359 --> 00:24:58.920
<v Speaker 2>Well, it has to be a real honor to be

476
00:24:59.079 --> 00:25:02.240
<v Speaker 2>the mayor of a city like Salem or Boston or

477
00:25:02.240 --> 00:25:05.480
<v Speaker 2>wherever on one of those special years, whether it's the

478
00:25:05.559 --> 00:25:09.720
<v Speaker 2>three fiftieth. They did the three fiftieth in Boston back

479
00:25:09.759 --> 00:25:14.039
<v Speaker 2>in nineteen eighty as I'm sure you know, and that

480
00:25:14.279 --> 00:25:16.880
<v Speaker 2>time Kevin White would have been mayor, so you'll you'll

481
00:25:16.880 --> 00:25:20.599
<v Speaker 2>be remembered as the mayor for the four hundredth. Do

482
00:25:20.680 --> 00:25:24.720
<v Speaker 2>you have any idea or projections as to how many

483
00:25:24.720 --> 00:25:27.240
<v Speaker 2>folks not only from around the country, but from around

484
00:25:27.319 --> 00:25:30.319
<v Speaker 2>the world will decide to put Salem on their travel

485
00:25:30.359 --> 00:25:34.720
<v Speaker 2>calendar for that year for twenty twenty six, any idea

486
00:25:34.759 --> 00:25:37.319
<v Speaker 2>what sort of a bump you're going to have in

487
00:25:37.440 --> 00:25:39.039
<v Speaker 2>terms of tourism.

488
00:25:39.920 --> 00:25:41.839
<v Speaker 6>It's hard to say for sure. I mean, there's been

489
00:25:42.039 --> 00:25:44.200
<v Speaker 6>a few cities that have already had their four hundredth

490
00:25:44.640 --> 00:25:47.960
<v Speaker 6>celebrations over the last few years, starting with Plymouth. The

491
00:25:48.000 --> 00:25:50.240
<v Speaker 6>timing for Plymouth was a little unfortunate for them. It

492
00:25:50.279 --> 00:25:53.519
<v Speaker 6>was in twenty twenty, and so, you know, the pandemic

493
00:25:53.599 --> 00:25:58.200
<v Speaker 6>really kind of threw them a curveball in terms of unfortunate. Yeah,

494
00:25:58.359 --> 00:26:02.599
<v Speaker 6>that was tough. Yeah, So it's really hard to say.

495
00:26:02.640 --> 00:26:05.640
<v Speaker 6>Salem is certainly a destination for many people. Every year,

496
00:26:05.640 --> 00:26:08.559
<v Speaker 6>we welcome close to probably around four hundred million visitors

497
00:26:08.599 --> 00:26:11.279
<v Speaker 6>for a city of forty five thousand people. It's it's

498
00:26:11.319 --> 00:26:12.880
<v Speaker 6>a you know, it's a place that people love to

499
00:26:12.960 --> 00:26:15.039
<v Speaker 6>visit and we love to share our stories with the world.

500
00:26:15.160 --> 00:26:16.519
<v Speaker 2>You said four hundred million.

501
00:26:16.640 --> 00:26:19.160
<v Speaker 4>Did I hear you in for close to four million?

502
00:26:19.200 --> 00:26:23.000
<v Speaker 2>Yeah? What did I miss? Yeah? That's now that's a

503
00:26:23.000 --> 00:26:24.680
<v Speaker 2>pretty big nomber million four million.

504
00:26:25.400 --> 00:26:27.799
<v Speaker 6>Yeah, and you know, about fifty percent of them come

505
00:26:27.880 --> 00:26:30.880
<v Speaker 6>between mid September and the end of October, so it's

506
00:26:30.880 --> 00:26:32.240
<v Speaker 6>certainly the busiest season for us.

507
00:26:32.240 --> 00:26:35.880
<v Speaker 2>Okay, last question, and I'm sure you would have anticipated this.

508
00:26:37.119 --> 00:26:40.119
<v Speaker 2>How are you going to deal with Every city has

509
00:26:40.200 --> 00:26:42.319
<v Speaker 2>great history, bad history? How are you going to deal

510
00:26:42.359 --> 00:26:45.400
<v Speaker 2>with the history of the witch trials? Will you ignore

511
00:26:45.440 --> 00:26:47.160
<v Speaker 2>that or will you deal with it in some way?

512
00:26:47.920 --> 00:26:51.039
<v Speaker 2>That's going to be a tough a tough part of

513
00:26:51.079 --> 00:26:53.960
<v Speaker 2>the history to deal with, obviously.

514
00:26:54.799 --> 00:26:56.559
<v Speaker 6>It is, but I think it's an important part that

515
00:26:56.599 --> 00:26:58.839
<v Speaker 6>we acknowledge and we reflect on it and we think

516
00:26:58.880 --> 00:27:01.359
<v Speaker 6>about how it informs our values as a city today.

517
00:27:01.359 --> 00:27:04.000
<v Speaker 6>You know, we we're proud to be a welcoming place

518
00:27:04.039 --> 00:27:06.960
<v Speaker 6>that really wants to learn from our history, grow from it,

519
00:27:07.039 --> 00:27:09.400
<v Speaker 6>and also share our story with the world and with

520
00:27:09.440 --> 00:27:11.799
<v Speaker 6>our you know, with our visitors, so they understand our

521
00:27:11.839 --> 00:27:15.680
<v Speaker 6>contributions to our system of justice and jurisprudence, you know,

522
00:27:15.839 --> 00:27:18.039
<v Speaker 6>the courts of law that we have today in this country,

523
00:27:18.039 --> 00:27:21.000
<v Speaker 6>and how they were informed by the history that happened

524
00:27:21.000 --> 00:27:22.279
<v Speaker 6>here in sixteen ninety two.

525
00:27:23.920 --> 00:27:26.839
<v Speaker 2>Well, good, good answer to a tough question. And I'm

526
00:27:26.880 --> 00:27:28.799
<v Speaker 2>sure you expected. I forgot to save it to the

527
00:27:28.880 --> 00:27:30.279
<v Speaker 2>end so it wouldn't be mad at me if I

528
00:27:30.279 --> 00:27:34.200
<v Speaker 2>asked it too early. Yeah, mega, Thanks very much, your

529
00:27:34.200 --> 00:27:37.039
<v Speaker 2>good sport, best of luck. Something for folks to look

530
00:27:37.079 --> 00:27:40.279
<v Speaker 2>forward to and plan. Is there a website up yet

531
00:27:40.319 --> 00:27:42.160
<v Speaker 2>where people can start it to look at it and

532
00:27:42.200 --> 00:27:44.640
<v Speaker 2>maybe market on their their calendar for next year that

533
00:27:44.680 --> 00:27:45.559
<v Speaker 2>we can direct people to.

534
00:27:46.359 --> 00:27:46.640
<v Speaker 5>Yeah.

535
00:27:46.680 --> 00:27:47.160
<v Speaker 1>Absolutely.

536
00:27:47.240 --> 00:27:50.160
<v Speaker 6>The wide is a Salem four und dot org. That's

537
00:27:50.200 --> 00:27:51.759
<v Speaker 6>the number four hundred, so Sale four.

538
00:27:51.720 --> 00:27:55.039
<v Speaker 2>N Yeah, you dropped out there, so Salem four hundred

539
00:27:55.079 --> 00:27:57.599
<v Speaker 2>dot org. Okay, just want to make sure we get

540
00:27:57.599 --> 00:28:00.240
<v Speaker 2>it right. Thanks, Mayor, I really do appreciate it. Mayor

541
00:28:00.359 --> 00:28:04.079
<v Speaker 2>Dominic Pangalo, the mayor of Salem, Massachusetts. By the way,

542
00:28:04.400 --> 00:28:07.119
<v Speaker 2>which number, mayor are you? In four hundred years? How

543
00:28:07.119 --> 00:28:08.599
<v Speaker 2>many mayors have Salem had.

544
00:28:09.480 --> 00:28:12.480
<v Speaker 6>I am the fifty second mayor. We've only had mayors

545
00:28:12.400 --> 00:28:15.000
<v Speaker 6>a city since eighteen thirty six, but we've been I

546
00:28:15.079 --> 00:28:16.920
<v Speaker 6>incorporated the town since sixteen twenty six.

547
00:28:17.200 --> 00:28:19.880
<v Speaker 2>That's quite all right, I just I had to ask

548
00:28:20.200 --> 00:28:23.799
<v Speaker 2>thanks again, Salem Mayor Dominic Pangalo. All Right, we get back.

549
00:28:23.799 --> 00:28:26.079
<v Speaker 2>We're gonna talk to you about something that affects everyone.

550
00:28:26.079 --> 00:28:28.119
<v Speaker 2>If you own a credit card, it's going to get

551
00:28:28.160 --> 00:28:30.640
<v Speaker 2>more expensive the use of credit cards. And I'll tell

552
00:28:30.720 --> 00:28:33.119
<v Speaker 2>you why. We will. We will be told why by

553
00:28:33.119 --> 00:28:35.799
<v Speaker 2>Doug Canter, who's general counsel for the National Association of

554
00:28:35.880 --> 00:28:39.079
<v Speaker 2>Convenience Stores. Trust me, this is one you want to

555
00:28:39.119 --> 00:28:41.039
<v Speaker 2>listen to. We'll be right back on Nightside.

556
00:28:41.960 --> 00:28:46.200
<v Speaker 1>You're on Night Side with Dan Ray on WBZ, Boston's

557
00:28:46.240 --> 00:28:46.880
<v Speaker 1>news radio.

558
00:28:48.039 --> 00:28:51.000
<v Speaker 2>All Right, our fourth and final guest this hour is

559
00:28:51.079 --> 00:28:54.200
<v Speaker 2>Doug Canter. He's the general counsel for the National Association

560
00:28:54.319 --> 00:28:57.279
<v Speaker 2>of Convenience Stores. Doug Cantell, Welcome to Nightside. How are you, sir?

561
00:28:58.720 --> 00:28:59.799
<v Speaker 4>Thank you for having me on.

562
00:29:00.160 --> 00:29:02.559
<v Speaker 2>You're more than welcome. It's going to get more expensive

563
00:29:02.559 --> 00:29:05.319
<v Speaker 2>for people to use credit cards. What's going on?

564
00:29:07.279 --> 00:29:11.160
<v Speaker 4>Well, we have this strange system where Visa and MasterCard

565
00:29:11.839 --> 00:29:14.599
<v Speaker 4>tell all the banks that give us credit cards how

566
00:29:14.680 --> 00:29:19.240
<v Speaker 4>much to charge the stores, and without price competition among

567
00:29:19.279 --> 00:29:21.839
<v Speaker 4>those banks, the fees have gone out of control.

568
00:29:23.480 --> 00:29:28.000
<v Speaker 2>Okay, So let's talk numbers here. Okay. So if I

569
00:29:28.119 --> 00:29:32.039
<v Speaker 2>go into a restaurant and I use my Visa card

570
00:29:32.480 --> 00:29:34.880
<v Speaker 2>and it costs me one hundred bucks before the tip,

571
00:29:35.400 --> 00:29:38.000
<v Speaker 2>Let's say it's a hundred even, you know, including taxes.

572
00:29:38.640 --> 00:29:40.839
<v Speaker 2>How much of that one hundred and let's say I

573
00:29:40.960 --> 00:29:45.200
<v Speaker 2>pay the waiter waitress cash as a tip. So how

574
00:29:45.279 --> 00:29:48.759
<v Speaker 2>much of that one hundred dollars is eaten up by

575
00:29:49.440 --> 00:29:52.640
<v Speaker 2>the bank or the Visa or Visa homever Because it's

576
00:29:52.759 --> 00:29:57.279
<v Speaker 2>bank and Visa who run the credit card Elon's I

577
00:29:57.319 --> 00:30:01.720
<v Speaker 2>think it's Elon Financial Services is the person I write

578
00:30:01.799 --> 00:30:04.039
<v Speaker 2>the company I write to check to every month? How

579
00:30:04.079 --> 00:30:06.519
<v Speaker 2>much four percent? Two percent? What is it?

580
00:30:06.519 --> 00:30:07.680
<v Speaker 3>It's two?

581
00:30:07.839 --> 00:30:11.400
<v Speaker 4>About two thirty five goes to the bank. About three

582
00:30:11.480 --> 00:30:15.000
<v Speaker 4>dollars in total goes to the bank and Visa MasterCard together,

583
00:30:15.920 --> 00:30:21.559
<v Speaker 4>and that adds up. Last year, the fees averaged almost

584
00:30:21.720 --> 00:30:25.160
<v Speaker 4>twelve hundred dollars per American family for the year.

585
00:30:26.559 --> 00:30:30.880
<v Speaker 2>Okay, So the twelve hundred dollars goes to the to

586
00:30:30.920 --> 00:30:35.079
<v Speaker 2>the credit card company and to the bank. So it

587
00:30:35.160 --> 00:30:37.359
<v Speaker 2>sounds to me like, it's a three percent, you said

588
00:30:37.400 --> 00:30:40.160
<v Speaker 2>two thirty five in the balance, it's about three bucks, right,

589
00:30:40.880 --> 00:30:43.000
<v Speaker 2>that's right. Okay, So where's it going to be a

590
00:30:43.079 --> 00:30:44.960
<v Speaker 2>year from now or six months from now. Where's that

591
00:30:45.039 --> 00:30:46.000
<v Speaker 2>number going to jump to?

592
00:30:47.160 --> 00:30:51.359
<v Speaker 4>Well, what we know is between twenty twenty and twenty

593
00:30:51.400 --> 00:30:55.160
<v Speaker 4>twenty four, the Visa master Card credit card fees went

594
00:30:55.240 --> 00:31:01.559
<v Speaker 4>up eighty percent. So we're talking about double digit increases

595
00:31:01.720 --> 00:31:02.640
<v Speaker 4>every single year.

596
00:31:03.519 --> 00:31:07.279
<v Speaker 2>So I'm doing the math in my head here. It

597
00:31:07.400 --> 00:31:11.880
<v Speaker 2>probably was I'm guessing maybe a buck seventy five and

598
00:31:12.440 --> 00:31:16.680
<v Speaker 2>to increase that eighty percent you need, it probably went

599
00:31:16.720 --> 00:31:24.079
<v Speaker 2>from buck seventy five per one hundred dollars to three dollars.

600
00:31:24.799 --> 00:31:28.000
<v Speaker 2>And so that might mean when is the next round

601
00:31:28.079 --> 00:31:31.519
<v Speaker 2>of increases likely to hit. I don't know.

602
00:31:31.559 --> 00:31:35.000
<v Speaker 4>We just had an increase in January from Visa of

603
00:31:35.079 --> 00:31:38.960
<v Speaker 4>about another one hundred million dollars. They've been doing these

604
00:31:39.000 --> 00:31:41.759
<v Speaker 4>almost every year for the last few years.

605
00:31:41.960 --> 00:31:48.599
<v Speaker 2>So my understanding is that the restaurants and stores, and

606
00:31:48.640 --> 00:31:51.240
<v Speaker 2>of course this applies more than restaurants. It applies to

607
00:31:51.720 --> 00:31:54.240
<v Speaker 2>retail stores and all of that. When you're at you know,

608
00:31:54.359 --> 00:32:00.119
<v Speaker 2>Target or Walmart's or whatever, us and convenience stores. Are

609
00:32:00.200 --> 00:32:03.039
<v Speaker 2>some of these restaurants and some of these other retailers,

610
00:32:03.359 --> 00:32:05.920
<v Speaker 2>are they now going to start to break that out

611
00:32:06.039 --> 00:32:10.880
<v Speaker 2>so people realize that more and more of their money

612
00:32:11.240 --> 00:32:13.799
<v Speaker 2>during the credit card transaction is not going for the

613
00:32:13.880 --> 00:32:17.839
<v Speaker 2>products or the services that they've received, but an increasing

614
00:32:17.920 --> 00:32:20.599
<v Speaker 2>amount is going to the card company and to the

615
00:32:20.680 --> 00:32:22.240
<v Speaker 2>bank that backs up the card company.

616
00:32:23.720 --> 00:32:28.319
<v Speaker 4>Yeah, more places are feeling forced to do that. They

617
00:32:28.319 --> 00:32:30.640
<v Speaker 4>don't like to do it because a lot of times

618
00:32:30.680 --> 00:32:34.559
<v Speaker 4>customers don't actually know about these fees, and they blame

619
00:32:34.599 --> 00:32:36.480
<v Speaker 4>the store and get upset about it.

620
00:32:36.960 --> 00:32:37.960
<v Speaker 5>But the truth is we.

621
00:32:38.000 --> 00:32:41.200
<v Speaker 4>Pay them either way. Just sometimes we know and sometimes

622
00:32:41.200 --> 00:32:41.680
<v Speaker 4>we don't know.

623
00:32:42.680 --> 00:32:47.880
<v Speaker 2>Okay, so the fees will go up, but the store

624
00:32:48.000 --> 00:32:52.279
<v Speaker 2>itself just as beginning now, because of the level of

625
00:32:52.400 --> 00:32:55.960
<v Speaker 2>fee of fee that will be charged, they're going to

626
00:32:56.039 --> 00:33:00.680
<v Speaker 2>let the customers know. Now other than maybe making the

627
00:33:00.680 --> 00:33:03.680
<v Speaker 2>customer a little more understanding, are they hoping that the

628
00:33:03.680 --> 00:33:08.480
<v Speaker 2>customers might turn around and change their credit cards? I mean, obviously,

629
00:33:08.759 --> 00:33:12.359
<v Speaker 2>you know. Just I'm trying to figure out what the

630
00:33:12.359 --> 00:33:15.599
<v Speaker 2>purpose of telling the customer, oh, yeah, your check is

631
00:33:15.640 --> 00:33:20.039
<v Speaker 2>one hundred dollars, but as an additional four dollars for

632
00:33:20.319 --> 00:33:23.519
<v Speaker 2>credit card fees, and maybe some people will say, what

633
00:33:23.519 --> 00:33:25.599
<v Speaker 2>are you talking about credit card fees and they'll explain

634
00:33:25.640 --> 00:33:28.119
<v Speaker 2>it to you. Is it a public relations thing or

635
00:33:28.160 --> 00:33:30.359
<v Speaker 2>is it an effort to maybe to get people to

636
00:33:30.400 --> 00:33:33.400
<v Speaker 2>find some credit cards that are that are charging a

637
00:33:33.480 --> 00:33:36.240
<v Speaker 2>lesser percentage of fees to the providers.

638
00:33:37.839 --> 00:33:41.240
<v Speaker 4>Sure, a lot of places would prefer you pay cash

639
00:33:41.400 --> 00:33:44.799
<v Speaker 4>or or use your debit card. Either of those are

640
00:33:45.039 --> 00:33:49.960
<v Speaker 4>cheaper than the credit card. They know sometimes that can't work,

641
00:33:50.039 --> 00:33:54.400
<v Speaker 4>but they're still trying to let people know as best

642
00:33:54.440 --> 00:33:57.559
<v Speaker 4>they can and try to recover some of the money.

643
00:33:57.799 --> 00:33:59.480
<v Speaker 4>Just to give you a sense of how big it

644
00:33:59.519 --> 00:34:03.839
<v Speaker 4>is for the stores, it's their second highest operating cost

645
00:34:03.880 --> 00:34:07.079
<v Speaker 4>on average. What they pay their employees is number one.

646
00:34:07.160 --> 00:34:10.239
<v Speaker 4>Credit card fees is number two. It's more than they

647
00:34:10.280 --> 00:34:11.800
<v Speaker 4>pay to rent the store.

648
00:34:12.280 --> 00:34:15.239
<v Speaker 2>Okay, now, I'll tell you. I am of the belief

649
00:34:15.280 --> 00:34:19.400
<v Speaker 2>that when credit cards came along, it was very beneficial.

650
00:34:19.480 --> 00:34:23.280
<v Speaker 2>Let's talk about restaurants, because it's one thing. If I'm

651
00:34:23.280 --> 00:34:27.760
<v Speaker 2>in a restaurant and at an expensive restaurant and they say, well,

652
00:34:27.880 --> 00:34:30.519
<v Speaker 2>you know, your dinner for you and your wife tonight

653
00:34:30.679 --> 00:34:32.800
<v Speaker 2>was two hundred and fifty dollars, how would you like

654
00:34:32.840 --> 00:34:34.719
<v Speaker 2>to pay that very few people walking around with two

655
00:34:34.800 --> 00:34:38.239
<v Speaker 2>fifty in their pocket and cash, So credit cards became

656
00:34:38.239 --> 00:34:41.039
<v Speaker 2>a convenience. And I think that credit cards, the use

657
00:34:41.079 --> 00:34:44.719
<v Speaker 2>of credit cards, has frankly inflated prices. I don't know

658
00:34:44.760 --> 00:34:46.800
<v Speaker 2>if you agree with that. You probably don't, But I

659
00:34:46.840 --> 00:34:49.679
<v Speaker 2>do believe in that because I think it's real easy

660
00:34:49.679 --> 00:34:51.159
<v Speaker 2>to say, oh, give me the check, let me put

661
00:34:51.159 --> 00:34:53.400
<v Speaker 2>a twenty percent tip on here, no problem, and you

662
00:34:53.559 --> 00:34:55.440
<v Speaker 2>just do that. At the end of the bud you say, wow,

663
00:34:55.480 --> 00:34:58.000
<v Speaker 2>we spent four thousand dollars last month of my credit card.

664
00:34:58.239 --> 00:35:00.960
<v Speaker 2>Did I where did it go? Do you buy that argument?

665
00:35:01.000 --> 00:35:04.159
<v Speaker 2>And no, that by using cash people might become a

666
00:35:04.239 --> 00:35:07.679
<v Speaker 2>little more cost conscious and that might come back to

667
00:35:07.719 --> 00:35:09.119
<v Speaker 2>haunt the restaurants a little bit.

668
00:35:10.920 --> 00:35:13.599
<v Speaker 4>Look, there's no doubt there's some of that dynamic with

669
00:35:13.679 --> 00:35:16.920
<v Speaker 4>credit cards, and there's no doubt there's some benefit to it.

670
00:35:17.280 --> 00:35:21.400
<v Speaker 4>But no matter how beneficial something is, we usually don't

671
00:35:21.480 --> 00:35:24.800
<v Speaker 4>let all the competitors agree on how much to charge

672
00:35:24.840 --> 00:35:27.519
<v Speaker 4>for it. We call that price fixing.

673
00:35:27.239 --> 00:35:31.400
<v Speaker 2>And have an How about an antitrust action exactly?

674
00:35:32.960 --> 00:35:36.239
<v Speaker 4>There's been one for a long time. The credit card

675
00:35:36.239 --> 00:35:39.559
<v Speaker 4>companies have so much money to spend against it. They've delayed,

676
00:35:39.559 --> 00:35:41.480
<v Speaker 4>it's gone on for twenty years now.

677
00:35:41.760 --> 00:35:48.320
<v Speaker 2>Wow, Wow, this is fascinating. What advice would you would

678
00:35:48.320 --> 00:35:54.480
<v Speaker 2>you suggest to consumers? I mean, when you can pay cash,

679
00:35:54.639 --> 00:35:57.239
<v Speaker 2>pay cash.

680
00:35:57.239 --> 00:36:02.400
<v Speaker 4>Look, that's actually an often good budgeting technique that that

681
00:36:02.480 --> 00:36:05.960
<v Speaker 4>people recommend because we do tend to think of it

682
00:36:06.039 --> 00:36:08.880
<v Speaker 4>as funny money if if we don't see it in

683
00:36:08.960 --> 00:36:12.440
<v Speaker 4>front of us, there's there's no doubt about that. Look,

684
00:36:12.679 --> 00:36:16.519
<v Speaker 4>we're trying to push legislation that would require these credit

685
00:36:16.599 --> 00:36:19.440
<v Speaker 4>card companies to compete with each other on on price

686
00:36:19.480 --> 00:36:22.519
<v Speaker 4>and service like everybody else does. We think that would

687
00:36:22.559 --> 00:36:25.840
<v Speaker 4>make some sense, but you know, the truth is the

688
00:36:25.920 --> 00:36:30.840
<v Speaker 4>system is not well designed for everybody, and we tend

689
00:36:30.920 --> 00:36:34.760
<v Speaker 4>to get sucked into it anyway, you know, chasing after

690
00:36:34.960 --> 00:36:36.119
<v Speaker 4>rewards or what have you.

691
00:36:38.599 --> 00:36:41.639
<v Speaker 2>This is this is a tough one because the consumer.

692
00:36:42.599 --> 00:36:48.400
<v Speaker 2>Not only are the restaurants really uh incurring a cost

693
00:36:48.880 --> 00:36:52.599
<v Speaker 2>that's an ever increasing cost, but the consumer is going

694
00:36:52.719 --> 00:36:56.760
<v Speaker 2>to pay that that ever increasing cost as well. That's

695
00:36:57.559 --> 00:37:00.840
<v Speaker 2>it's it's really a tough spot that the credit card

696
00:37:00.920 --> 00:37:05.159
<v Speaker 2>companies have put all of us in. Maybe we need

697
00:37:05.199 --> 00:37:07.320
<v Speaker 2>to shop the credit card companies a little bit more

698
00:37:07.360 --> 00:37:10.360
<v Speaker 2>I've had the same credit card for probably fifteen years,

699
00:37:10.400 --> 00:37:14.960
<v Speaker 2>and just there's inertia to change your credit card company

700
00:37:14.960 --> 00:37:19.000
<v Speaker 2>and all of that. It's time consuming, So therefore we

701
00:37:19.159 --> 00:37:20.920
<v Speaker 2>stay with the same credit card company, you know what

702
00:37:21.000 --> 00:37:21.400
<v Speaker 2>I'm saying.

703
00:37:22.679 --> 00:37:26.639
<v Speaker 4>Yeah, that's definitely true. At the same time, on these fees,

704
00:37:27.400 --> 00:37:31.119
<v Speaker 4>shopping your credit card company doesn't really help because this

705
00:37:31.280 --> 00:37:33.639
<v Speaker 4>is what they're charging to the merchant, and they're all

706
00:37:33.639 --> 00:37:37.239
<v Speaker 4>agreeing to charge the same thing. That's why we do

707
00:37:37.320 --> 00:37:39.880
<v Speaker 4>need Congress to step up here and do something about it.

708
00:37:40.360 --> 00:37:45.480
<v Speaker 2>Yeah, and of course Congress accepts a lot more campaign

709
00:37:45.480 --> 00:37:49.239
<v Speaker 2>contributions from credit card companies. I'm sure that they do

710
00:37:49.599 --> 00:37:53.000
<v Speaker 2>from consumers, so that's a bit of a dilemma as well.

711
00:37:53.559 --> 00:37:56.280
<v Speaker 2>I really you explain this really well, Doug. Thank you.

712
00:37:56.840 --> 00:37:59.360
<v Speaker 2>I understand that not much better, and hopefully my audience

713
00:37:59.440 --> 00:38:02.079
<v Speaker 2>understands it much better. And maybe people when they're going

714
00:38:02.079 --> 00:38:04.000
<v Speaker 2>out to some of the more you know, some of

715
00:38:04.039 --> 00:38:08.880
<v Speaker 2>the more family oriented, less expensive restaurants, not the high

716
00:38:09.000 --> 00:38:11.440
<v Speaker 2>ends the restaurants, but the ones that are a little

717
00:38:11.440 --> 00:38:15.360
<v Speaker 2>bit more reasonable, maybe maybe they'll have some cash in

718
00:38:15.360 --> 00:38:18.760
<v Speaker 2>their pocket and they will help themselves and help the

719
00:38:18.800 --> 00:38:19.639
<v Speaker 2>restaurants as well.

720
00:38:20.719 --> 00:38:23.760
<v Speaker 4>Those local family businesses will definitely appreciate it.

721
00:38:24.000 --> 00:38:27.800
<v Speaker 2>I love local, I love diners, and I love local restaurants,

722
00:38:27.800 --> 00:38:31.440
<v Speaker 2>and I believe me. Hey, Doug, thank you very much,

723
00:38:31.519 --> 00:38:34.679
<v Speaker 2>Doug cantor can we get more information from Is there

724
00:38:34.679 --> 00:38:36.280
<v Speaker 2>a website you want to send people to for more

725
00:38:36.320 --> 00:38:37.039
<v Speaker 2>information on this?

726
00:38:38.079 --> 00:38:42.840
<v Speaker 4>Yes, for the Merchants Payments Coalition dot com. They'll be

727
00:38:42.880 --> 00:38:44.800
<v Speaker 4>able to find all the background on this.

728
00:38:45.280 --> 00:38:51.039
<v Speaker 2>Merchants Payments Coalition dot com. Doug Cancer, thank you very much.

729
00:38:51.800 --> 00:38:53.480
<v Speaker 4>Thank you, You're very welcome.

730
00:38:53.920 --> 00:38:56.480
<v Speaker 2>Coming up, we're going to talk with Boston City Council

731
00:38:56.480 --> 00:39:00.000
<v Speaker 2>and Ed Flynn about some ethics reform in the Boston

732
00:39:00.079 --> 00:39:03.159
<v Speaker 2>City Council. Hey, let's say that entire City Hall of

733
00:39:03.199 --> 00:39:06.159
<v Speaker 2>Boston could use some ethics reform. Back on Nightside, after

734
00:39:06.239 --> 00:39:07.280
<v Speaker 2>the nine o'clock news,