Word: spinx
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Dates: during 2000-2009
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...penny or two, owners are slow to raise prices to cover their increased costs--and at times even lose money when a customer charges a fill-up. "We get hurt when the price goes up--the opposite of what the customer thinks," says Stewart Spinks, who runs 38 Spinx stores in the Carolinas and Georgia. With gas at $3 per gal., Spinks hands credit-card companies about 7¢ per gal.--half of what he makes before paying employees and spending on equipment. So he has joined station owners in Tennessee, Minnesota, New York and elsewhere in trying to avoid credit...
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