Spanish Businessman Sells Mattress Safe

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.

Copyright © 2013 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

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.

INSKEEP: Oh.

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.

Copyright © 2013 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: