Fidelity Trust & Bank CEO find new way to save money
Washington Business Journal - by Tierney Plumb Staff Reporter
Washington Business Journal - by Tierney Plumb Staff Reporter
Motor scooters are becoming more common around D.C. than black SUVs. But if you see a guy in a bespoke suit riding one down MacArthur Boulevard in the morning, chances are it’s Barry Watkins, chief executive officer of Fidelity Trust & Bank.
Watkins commutes from his non-Metro accessible Potomac home to his office on Eye Street NW on the Vespa he bought three years ago. He says the commute takes him about half the time it does when he drives, and, at 75 miles per gallon, uses half the gas.
"It's fun to go to the pump and fill up on $8, compared to $85. The problem is municipalities haven’t embraced the concept," says Watkins, referring to the lack of sanctioned scooter parking spots in D.C. He parks his on a sidewalk and chains it to a meter.
Scooters are no longer just the ride of choice for gamine students and hipsters. Overall scooter sales were up 24 percent across the nation in 2007, with the Washington area ranking ninth out of 1,000 markets, according to the Irvine, Calif.-based Motorcycle Industry Council. Sales are up 25 percent from last year at the Washington Vespa dealership at 2233 Wisconsin Ave. NW.
“And ‘tire kicking’ is way up,” says Kevin O’Neil, assistant manager at Washington Vespa, referring to the spike in shoppers browsing the $3,200 to $9,000 Italian bikes in the 6-year-old store. “We are also seeing an increase of sales of bigger-engine bikes because people are commuting farther.”
George Buder, owner of Mopeds Mpg in Fairfax, says his showroom isn’t bare yet, but his $1,250 to $2,295 cheaper Asian models are going fast- and the shipment-to-customer-store process can take up to seven weeks.
Watkins commutes from his non-Metro accessible Potomac home to his office on Eye Street NW on the Vespa he bought three years ago. He says the commute takes him about half the time it does when he drives, and, at 75 miles per gallon, uses half the gas.
"It's fun to go to the pump and fill up on $8, compared to $85. The problem is municipalities haven’t embraced the concept," says Watkins, referring to the lack of sanctioned scooter parking spots in D.C. He parks his on a sidewalk and chains it to a meter.
Scooters are no longer just the ride of choice for gamine students and hipsters. Overall scooter sales were up 24 percent across the nation in 2007, with the Washington area ranking ninth out of 1,000 markets, according to the Irvine, Calif.-based Motorcycle Industry Council. Sales are up 25 percent from last year at the Washington Vespa dealership at 2233 Wisconsin Ave. NW.
“And ‘tire kicking’ is way up,” says Kevin O’Neil, assistant manager at Washington Vespa, referring to the spike in shoppers browsing the $3,200 to $9,000 Italian bikes in the 6-year-old store. “We are also seeing an increase of sales of bigger-engine bikes because people are commuting farther.”
George Buder, owner of Mopeds Mpg in Fairfax, says his showroom isn’t bare yet, but his $1,250 to $2,295 cheaper Asian models are going fast- and the shipment-to-customer-store process can take up to seven weeks.
