Pub. 7 2016 Issue 1

I n 1987 Robert Plath, a Northwest Air- lines pilot, introduced the world to roll- ing luggage. Since the transition from the steamer trunk to the suitcase around 1907, travelers had manhandled their be- longings much the same way. While some travelers started to use portable luggage carts in the 1970s, and a gentleman by the name of Bernard Sadow invented wheeled luggage, neither caught on. Plath reduced the size of the luggage, moved the wheels to the end of the rect- angle, and added a telescoping handle. Even after its introduction, he had to work another five years before mass acceptance, as the concept was fought by men who considered wheeled luggage too feminine and female travelers that thought the luggage wasn’t large enough. However, overtime Plath not only changed luggage, but changed how we pack, airport design and disrupted the skycap industry. Complexity of bank fees Rollaboards took an action that was com- plicated—moving luggage and simplified it. It is time for banks to do the same with fees, as we offer a dizzying array of charges that the banker, let alone the customer, has trouble keeping straight. Consider that there is the fee, various balance requirements, transaction limits, per item charges, deposit limits, overdraft fees and a host of other charges as well. If you count them up, the typical bank has more than 13 moving parts to determine the cost of business checking. Retail checking isn’t much better. Banking as a membership Are you a member of Amazon Prime? If not, you should investigate this approach 26 Creating “Amazon Prime” For Your Bank By Chris Nichols, CenterState Bank