Fairbanks merchants slash prices ahead of PFD distribution
Published Saturday, September 6, 2008
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FAIRBANKS — Sport King is cutting prices by half on some hockey gear and skates. North Star Taekwon-Do is throwing in a free uniform with discounts on lessons. Computer Cache is putting Dell Notebooks on sale for $995.
It’s Alaska Permanent Fund Dividend time, and area retailers are slashing prices as they clamor for a share of the influx of spending expected to begin Friday.
That’s the day deposits for $3,269 are scheduled to show up in Alaskans’ bank accounts, courtesy of the state’s $36 billion nest egg coupled with energy relief money approved by state lawmakers.
“Just a little bit of everything is on sale,” said Gabriele Larry, manager at the Alaska Fun Center. “We have some super promotions on our (snowmachines), and we’ve got cash discounts.”
Look for discounts of up to $600 on selected 2008 Yamaha snowmachines and all-terrain vehicles. Model year 2008 Kawasaki ATVs also are going on sale.
“We’re going to discount our apparel,” Larry said.
At the Harley-Davidson Farthest North Outpost, prices are being lowered on brands across the board.
“We have a whole list of dividend specials,” sales manager Russ Kosman said.
The store is offering $400 in free gear and accessories after the purchase of liquid-cooled Polaris snowmachines.
“We have $1,000 in free gear on all Victory motorcycles in stock,” Kosman said. “We have rebates, also. Manufacturer rebates as well as dividend specials. Some machines, you can add them both together. It’s a pretty good deal.”
Retailers also are offering easier financing.
Heather Seek, assistant manager at Bailey’s Furniture, said the store has reduced its layaway downpayment from 25 percent to 10 percent as a PFD special.
Affordable Used Cars is allowing customers to purchase vehicles based on a promise to sign over their dividends. Seekins Ford Lincoln Mercury also has joined the bandwagon.
“We’re advancing the amount for the week for those who can demonstrate to us that they are definitely getting a PFD check,” sales manager John Lohrke said. “It’s mainly a reaction to so many car dealers around the state who have already started the process. If people have it coming, we’ll help them out.”
Some stores are using the Permanent Fund Dividend as an excuse to clear out merchandise fast.
The Boat Shop is offering up to 20 percent off on boat motors.
“We’ve got PFD specials on all of our motors,” salesman Randy Hambright said. “This time of year, we’re ready to deal. We’re getting rid of stuff.”
At the Adamas Jewelry Co., all merchandise except for certain diamonds will be marked down 20 percent from Sept. 12-20.
“We very rarely have sales, but this is a nice opportunity,” office manager Amy McKenzie said.
Hoitt’s Stereo and Video also is offering up to 20 percent off on selected items.
Fred Meyer, which has two stores in Fairbanks, is working out the details of cash discounts to be offered to customers spending their Permanent Fund Dividends.
“We do a PFD special every year,” company spokeswoman Melinda Merrill said.
Community Discussion
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I hope that many families will use the money to weatherize their homes in order to save on heating costs this winter.
susieh .... most families will waste it as usual and also spend their children’s.
Just think of all the free energy we could be enjoying today if we had properly invested that money instead of sending 25% of it to IRS.
Since when is increasing the capital spent on locally owned businesses a waste of money. For all of you so against the check, return it and do not file for it again in the future. So far I have failed to hear of anyone receiving it, saying they are returning the money in protest. Easier to make fun of others than yourself. While we are at it, how many of you mocking the APF returned your Federal Tax rebate?
Those so adamantly opposed to the divided may fail to understand the economic gain cash injections into an economy can cause. Essentially, money begets money, and these annual boosts to the state economy help it thrive.
Even if they are 'wasting' it in your opinion (and remember, it IS your opinion), they are helping to support local businesses, and giving you more options to shop at by their yearly funding.
but 2 businesses will raise prices: the airlines and the fuel companies.
dont complain when your out of money , cant pay your bills and freezing your tail off this winter. So dont get to crazy with it .
Spend that money folks!!!!
Good song from Joe!!
There's blood in the water; let the feeding frenzy begin -- or, bank it for a rainy day! The people who voted for the constitutional amendment to create the permanent fund understood that the fund itself, and by extension the dividends we get each year are, as Governor Jay Hammond would say, "Money for a rainy day." For some it is raining already. Others, seemingly, do not mind the rain. It was the governor's intent that the PFD was one of the few ways individual Alaskans would benefit from the state's ownership of natural resources, to spend, individually as each saw fit. We may not always approve, but then who are we to judge? "Pragmatist" got it right even if some of that energy refund will not go to the intended use. THAT is the weak link in the energy rebate program. There were better ways (probably not in an election year) to distribute funds INTENDED to help with heating bills.
Everytime someone puts things on sale or gives away free stuff it just reminds me of how much we are being overcharged for everything we buy. The only reason businesses can discount items, give things away, and donate to charity's is because we are all paying too much for everything they sell us.
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Joe, I loved your song. Oughta cut a CD. ...
:)
As for me: My PFD goes to property taxes first; if any's left, to fuel bills; if any's left, to electric bills; if any's left after all the increases, to savings for the next tax/need. (My PFD allows me to remain in my home/state!)
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