I did a count this morning on the number of banks I pass by on my drive to work. My drive is about 14 miles, one way.
I counted:
3 McDonalds
4 Full service grocery stores.
7 drug stores.
15 gas stations
and
21 Banks!
Why do we need 21 banks in 14 miles? The numbers are actually skewed a little bit since I drive through about 5 miles of forest preserves. In a 6 mile stretch of 95th street, there are 17 (soon to be 19) banks! Why do we need 3+ banks PER MILE? That means every 0.315 miles there is a bank. In layman’s terms, you won’t have to walk more than 2 and a half blocks to get to a bank! I know there are 2 banks (soon to be 3) within 2 blocks of my house. This is a Google map of a 6 mile stretch of 95th street. I think I may of missed some as well.
I really think the Chicago market is way over-saturated with banks. Honestly, with direct deposit I see a bank about once a month, worst case. Normally it is once ever 2 months that I need to see a bank. I can understand why there are so many gas stations, everyone needs to get gas once a week. We are actually a little light when it comes to grocery stores. I know everyone HAS to go a grocery store or eat out all the time every week, or more.
My younger brother brought up a great point, banks really don’t do much for the community. They provide a service, but very little tax revenue. A gas station or grocery store generates a lot of tax revenue for the community it is in and provides a useful service you NEED. You do need banks, they are much better than currency exchanges or check cashing, but, why so many? It is really a terrible waste of often prime real estate.
Glad it is a short week.
Been a busy week at home. Glenn has be grumpier than normal, which makes none of us happy.
I got him to be a regular time tonight, and he ate for me, so I hope he is back into his normal schedule.
Work has been keeping me busy as well. I have been wiring up 6 new testers, and they are a lot of connections.
One thing that is troubling me is the stock market just keeps going up and up.
Gas is sky high.
The housing market is in the toilet.
Foreclosures are doubling every couple of months.
IBM and Motorola are laying off thousands of people.
Stocks are reaching record highs.
Why? This seem eerily similar to 1929, too much bought on speculation with little relation to what the average American is experiencing. I hope this does not end badly.
Posted by admin on May 30, 2007 in General Comments
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