Spanish Businessman Sells Mattress Safe
Tuesday, April 2, 2013
Paco Santos' mattress company started selling My Mattress Savings Bank last month. The price tag is a little more than $1,000. His initial supply sold out in just 24 hours.
DAVID GREENE, HOST:
Today's last word in business is: going to the mat - or mattress.
In Europe, a lot of banks are surviving on bailouts. In Cyprus, there's a new tax on savings accounts.
STEVE INSKEEP, HOST:
So you can understand if some Europeans are beginning to think it's better to save their money the old-fashioned way, by stuffing it in the mattress, which gave a Spanish businessman, Paco Santos, an idea, a mattress with a safe installed.
GREENE: Santos' mattress company started selling the My Mattress Savings Bank last month. Now you do need to save money to actually buy it. The price tag is just over a thousand bucks. But his initial supply sold out in just 24 hours.
INSKEEP: Now this mattress will not be able to lend you money or build your credit or pay interest rates, but then again, there are no fees.
GREENE: Santos promises that you will sleep more easily with cash on hand. Well, not exactly. The mattress face is located down by your feet.
GREENE: And I guess the lump, if it's there, it's more comfortable than if it were somewhere else. I don't know. That's the business news on MORNING EDITION from NPR News. I'm David Greene.
INSKEEP: And I'm Steve Inskeep. Transcript provided by NPR, Copyright NPR.View this story on npr.org