What's Frank Thinking?
by F H Walsh
Daily insights, trading commentary and industry updates, it's all part of RED Option's: What's Frank Thinking?
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What's Frank Thinking?
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Wednesday, July 1, 2009, Rhinelander, Wisconsin, USA
"Gone fishin' and tippin'"
"The alternative to a vacation is to stay home and tip every third person you see." We either heard that somewhere or just made it up. Anyway, that is what we are doing. We are staying in Rhinelander; and between the fellows putting the final touches on our WAY over-extended two-year home remodel project; the girls at the resort next door; and darned-near everyone else in town; our monies are being spread far and wide. Yes, we are "vacationing" at our summer home on the shores of Lake Thompson, and glad to be here "tipping" the locals.
Our mom used to say "tipping is an art, not a science," referring of course to those who believe the extra pay-out should be based on some strict percentage basis. Instead, and this came from a woman with about 50-years in the food service industry, the tips should be based on the "quality of service, and 'nice-ability'." We of course had to agree, even with the questionable hyphened word. The final "decider" on tipping levels came with our marriage, as our pretty blonde-better-half also spent a great deal of her youth in the restaurant business. Hence, unless the service is slow, the food cold, and the wait staff unfriendly or rude, the added-on gratuity rate begins at 15%, and sometimes goes as high as 50% - 100%.
Huh? A doubling of the bill? Yes, sometimes, when called for, a 50% - 100% tip is almost mandatory. No, we aren't talking about a $1,000 tab at Nine in Las Vegas or even on a hefty bill at The White Stag in the Northwood's (although we have gotten close), but in some other situations when the 100% may not add up to $100 - we have been known to put a wide-smile on a hard working worker's face. And, we have heard the story (several times!) of a whopping 50% tip on a "six-top" table's $1,000 dinner ticket, at the famous Paradise Valley, Arizona, El Chorro steak house. And guess who the benefactor of that 1992 grateful group's generosity? You got it, the wonderful and wise woman of our house, as she "delivered" great service, rare steaks, and NCAA Final Four scores to her grateful table of college hoop fans!
We also just heard that Johnny Depp left a $4,000 tip at Chicago's Gibson Steak House, while in town filming "Public Enemies" - to be released today at a theatre near you. A little more information on the John Dillinger based movie comes from nearby Manitowish Waters, Wisconsin, where Dillinger and partner Melvin Purvis escaped capture by the Feds in 1934, after an epic gun battle at the, still in operation, Little Bohemia Lodge. The Feds flew into oft-mentioned Rhinelander Airport back in the 1930s and literally commandeered some local folks automobiles, some of which are still around remaining bullet riddled!
So, enough about Dillinger and tipping, as we may go fishing, and are supposed to be on vacation. We have no idea of how we got on the subject of tipping, other than our opening quotation. Needless to say, tipping is a necessary part of life, and whether the "tippee" or the "tipper", and/or if related or not related to anyone who has made a great deal of their livelihood from the post bill gratuity - a certain minimum should always be figured as part of the initial price. Whether at a fancy restaurant, a coffee shop, or dealing with a day laborer, some extra "grease" has been known to give the "wheel" a better "spin." And, even if you are a fixed rate "ten-percenter," that is fine with us - we just won't tell our hard working, beautiful blonde roommate!
Have a great Fourth of July Holiday. Be safe. Next week begins the final two weeks of the July expiration cycle, we will return to business at that time - maybe!
"Always tip as if you are on the other side of the check." Anonymous
FHW
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