I hate to say it, after all the years of hard work our industry put in on this subject , but, I agree with this guy. The Dollar coinis a losing battle, NAMA needs to let itgo and focus their time and energyachievable bottom line issues.
Friday, December 19, 2008 5:38 AM EST (excerpt)
By Richard MiniterTimes Guest ColumnistNAMA's members expect their operational costs to drop dramatically if dollar coins are the norm. Since coins tend to take up less room inside machines than bills, collection personnel can make fewer stops at vending sites. At a July hearing held by the House Financial Services subcommittee, NAMA president Richard Geerdes claimed a switch to dollar coins would save "the American taxpayers at least $600 million a year." But this year, according to the Federal Reserve, the entire budget for printing all U.S. currency is $578.5 million. So unless Geerdes is actually advocating the elimination of the nation's entire monetary system, it's safe to say his figure came out of thin air.The pro-coin lobbying push is not only bad for taxpayers; it also undermines the interests of the vending-machine operators NAMA claims to represent. Today, more Americans are using credit cards than ever before. Instead of pushing for dollar coins, NAMA should be encouraging its members to invest in technology to allow credit card purchases at vending machines.Yet at the behest of special interests, the federal government persists in spending millions trying to convince us that we should. This campaign for change is costing taxpayers dearly. It's time for lawmakers to use a little common sense and say, "no thanks" to the dollar coin.(forwarded by)Tom BrittenAnalyst . Intermediary . ConsultantBritten Management Services, LLC3922 Bubba Drive, Zephyrhills FL 33541 Phone 813.469.5437Fax 813.783.7908E-Mail email@example.com