Podcast 275

Nye’s Bar To Close. The news came down in the last few weeks, the iconic Minneapolis Nye’s Bar will be closing sometime in August or September of 2015. The Bob Davis Podcast visits Nye’s on a Friday to give listeners the feel of the place. Opened in 1950, Nye’s Polonaise Room was kind of the grandma and grandpa bar in the late 70’s, and through the 80’s. Hipsters love its 1950’s decor, red naugahyde booths and kitchy piano bar. Nye’s Bar – featuring a polka band – is even funkier, and is older than the Polonaise Room. What’s not for hipsters to like? The owners are closing the restaurant and bar because they say, even with its popularity, there’s not enough business during the week, despite a ton of people there on the weekends, to keep the place open. What will replace Nye’s? A 20 to 30 story glass tower apartment building, according to owners. Minneapolis has always had a penchant for destroying the old, and putting up modern glass and brick buildings, and nothing has changed. The new city council apparently favors this kind of development, so don’t look for too many roadblocks. Yes, Nye’s owners ought to be able to do whatever they want with their business. But, regional plans, city plans, subsidies and things like taxpayer funded stadiums all over the place doesn’t bode well for mom and pop structures. Rents are going up. Costs to businesses are going up, as condos and apartments only trust fund babies can afford all over the city. They keep saying they want soul, but they keep tearing down all the soulful buildings. When is it too much development? What are the real costs of such subsidized development? This podcast also features some of the people singing at the Piano Bar. Some are better than others, but some of them were really good. Spend an evening at the Nye’s Piano Bar before it all goes away. It’s actually really special entertainment. In fact, play the podcast, and you’ll spend an evening at Nye’s again and again, long after it is gone. Sponsored by Ryan Plumbing and Heating of Saint Paul. 

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The Bob Davis Podcast

Podcast 268

Not 1995! Lots of stories in the news about real estate and consumer culture, and the state of retail. Its starting to feel like the business models that have propelled us from the 90’s aren’t working so well anymore. Now analysts wonder why millennials aren’t buying homes. Zillow theorizes that people are trapped in a high rent situation that prevents them from saving for a home down payment. There’s a greater question though. While we have been subjected to one rosy scenario after another about housing’s comeback — which really hasn’t materialized —  when repairs, taxes, assessments, interest and other costs of home loans over thirty years are considered, do you think owning really that much economical? With millennials burdened by student loans, the specter of higher lifetime social security costs and poor quality employment, is anyone really that surprised they’re not in the home buying mood? Then, when you consider higher spending and debt levels, and the pension commitments for state and local governments, would you say you think taxes will be going down, or up? Potential buyers are also factoring this in, and the cost of the urban utopia created by subsidies, federal spending and higher taxation. Finally, have you priced homes in these urban utopias millennials supposedly want to live in? By the way, a new survey says the one thing people ‘blow’ their budget on these days is eating out, all the more expensive in the ‘urban utopia’, ruled by broke hipsters. When millennials finally do start families, they’ll be looking in the suburbs for housing because its more affordable. Then there’s the retail question. This week congress decided not to tax purchases made on the Internet, much to the chagrin of retailers that have been manhandling their legislators to push for a tax to ‘even the playing field’. More and more there are examples of how retailers want to use law and licensing to fence off competition. Meanwhile their business models suck. Poor service, high prices, snooty attitudes; It’s no wonder people want to buy things on line. Uber’s fight to get into Portland and New York City are just two examples; There taxi drivers try to fence off competition by selling ‘licenses’ rather than providing a service people want. We’re on the cusp of big changes when it comes to consumer culture in America, and it’s a good thing. Sponsored by Ryan Plumbing and Heating of Saint Paul and by Depotstar. 

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