Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Dallas Restaurant Accepting Pesos for Cash

Dallas Restaurant Accepting Pesos for Cash

This is amazing!  Pizza Patron claims that 60% of their customers and 45% of their franchisees are Latino and that accepting the Mexican Peso in place of cash is going to benefit their customers.  However, they will not accept peso coins, only peso bills.  Each cashier will be given a chart with the conversion rates on it and will give change back in American money.

I'm not sure how I feel about this.  On one hand, this is very common along the border where people are constantly going back and forth.  Dallas is the furthest known city from the border to accept this.  On the other hand, why should we be accepting another country's currency?

Currency rates change daily.  Pizza Patron will be calculating 12 pesos to equal a dollar. However, the current exchange rate is only 10.94 pesos to equal a dollar.  The difference is to charge for the convenience of allowing the pesos to be used which will help offset the costs of converting everything back to dollars at the bank.  But, what happens when 13 pesos equals a dollar, or 15 pesos... do the restaurants change their conversation charts daily or weekly to keep up?

Here's the full storyWhat do you think?

Comment balloon 46 commentsDonna Harris • January 11 2007 08:39AM

Comments

I believe that the only legal tender in the United States is the Dollar.

I just wonder what the motivation might be for this? money, maybe?

Posted by Tom Burris, Texas/Louisiana Mortgage Pro - 13 YRS Experience (NMLS# 335055) over 11 years ago
It says alot about the restaurant when it does that! Like the US Dollar, it's accepted WORLD-WIDE! And now the Pesos?? Most likely as another alternative way of showing the non-support of the illegal immigration at Farmers Branch - like the way they hung the Mexican flag on a radio tower. Did you hear about that on the news?
Posted by Loreena and Michael Yeo, Real Estate Agents (3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.) over 11 years ago

WOW! No, I didn't hear they hung the Mexican flag on the radio tower.  OUCH!

I also started thinking about how when I went to Cancun a few years ago, they accepted the US Dollar.  I've never been anywhere else, but I had always heard stories from friends about converting their dollars, so I didn't know the US Dollar was accepted world-wide.

The motivation is to focus on their 60% of customers who might not have any cash on them for a pizza, but they came back from a visit to Mexico a couple of weeks ago and they have pesos leftover.  *shrug*

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago

Tom,

You are correct that US currency is the only legal tender in the US. But to understand that statement, it helps to know that "legal tender" means "payment that, by law, cannot be refused in settlement of a debt denominated in the same currency" - thank you wikepedia.

so basically, you can barter, you can trade, you can take pesos in EXCHANGE for pizza and its legal.

This was an attention grab...and a darn good one too...by a pizza place nobody has ever heard of and yet it was on NBC news the other night at 6pm! FOR FREE. Great publicity....too bad it wasn't an endorsement of how good their pizza is (or isn't...never tried it).

Hey, if Pizza hut would take some of the British currency I brought back with me from my trip when I was 11 years old I'd love to TRADE it in.

Posted by Ken Stampe, iBrandPlan (iBrandPlan.com - Grow your e-Profile & Brand) over 11 years ago

Good point about the free publicity, Ken!  I don't know of any place in Austin that takes Pesos, but I do know of several places (including one in Jarrell, population 1200) that will do an exchange for you from Pesos to dollars and vice versa (so money can be sent back to the family in Mexico). 

When I was traveling in England and Scotland, we had to do exchanges regularly and there were places on almost every street corner to do so.  American Dollars for English or Scots money; English money for Scots money; and so on.  Over there, it's simply a way of life, and they're technically the same country! 

 

Posted by Tricia Jumonville, Texas REALTOR , Agent With Horse Sense (Bradfield Properties) over 11 years ago

Ken- Great point about FREE publicity!  I have never heard of this Pizza place and now I have.  I don't know where any of their locations are, but I'm sure they'll be putting up a website if they don't already have one, that shows their locations.

Tricia- This is why it's crazy to be doing this in Dallas when it's not even done in Austin as Austin is 3 hours closer to the border!  Do England and Scotland not use that Euro money they made across Europe?

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago

Yes, you can easily exchange money in Europe, at banks or at currency trading places. Nonetheless, I really appreciate those places that will accept US dollars or other currency - often the convenience is worth a little extra in the conversion rate. At some European airports, it's great to be able to cash in multiple currencies, when making a purchase. Before the Euro, we always had some of each country currency to convert.

Kudos to the pizza place for going outside the box. They deserve the marketing recognition.

Lots of big assumptions as to why - perhaps they just wanted to better serve their customers! 

Posted by Sharon Simms, St. Petersburg FL - CRS CIPS CLHMS RSPS (Coastal Properties Group International - Christie's International) over 11 years ago
"that Euro money they made across Europe" - ROFL
Posted by Ken Stampe, iBrandPlan (iBrandPlan.com - Grow your e-Profile & Brand) over 11 years ago
"that Euro money they made across Europe" - ROFL
Posted by Ken Stampe, iBrandPlan (iBrandPlan.com - Grow your e-Profile & Brand) over 11 years ago

What's so funny?  It was a very technical statement!!

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago
well....it READS funny.
Posted by Ken Stampe, iBrandPlan (iBrandPlan.com - Grow your e-Profile & Brand) over 11 years ago
When I first heard about the pizza place accepting pesos I was annoyed.  Then I thought of all the places outside the U.S. that accept the dollar.  Then I went back to how easy illegals have it here.  The peso thing is OK in one sense, but I hate how easy we make it for illegals to suck life out of our country.
Posted by Sam Chapman over 11 years ago

Sam,

Perhaps you can expand upon your statement. Because a pizza place is going to take pesos as payment for pizza is making it easier for illegals?

Posted by Ken Stampe, iBrandPlan (iBrandPlan.com - Grow your e-Profile & Brand) over 11 years ago

update:  channel 11 news in Dallas just reported on Pizza Patron's "Pesos for Pizza" promotion. (enough letter 'p's in there?) The owner of the pizza company claims the promotion has led to death threats and hate mail from people. Perhaps the marketing promotion has a cost the owners didn't want to pay?

Posted by Ken Stampe, iBrandPlan (iBrandPlan.com - Grow your e-Profile & Brand) over 11 years ago
Do you take Peso for a commission also?  within 10-15 years hispanic will be major population in Texas
Posted by Mike Siriboone (Avalar) over 11 years ago

Sam, what do illegals have to do with currancy exchange?

BTW - I have NO problemo with the pizza chain.  It's their business.  I used US dollars in Japan, Taiwan, Singapore, South Korea, Mexico, Hong Kong, Canada and India while 'on the streets'.  No one batted an eye.  I assume because I was getting a poor exchange rate.

OK with me.

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

Dang, I miss all the good news!  I haven't had time to actually sit down and watch the news in a couple of weeks (I woke up to rain this morning and I didn't know we were expecting rain).  I'll see if there's an update on dallasnews.com.

By the way, in the "city" of Dallas, white/caucasian is already the minority as they're 49%.  51% of the city of Dallas make up tons of other ethnic backgrounds, mostly african american and hispanic.  I think it's going to take many, many years for the actual metroplex area to dip below that 50% mark, muchless the entire state, but yes, it will happen.  You don't see that happening in CA as well?

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago
Now the company is getting death threats for accepting the currency. That is just plain sad.
Posted by Mike Pannell (Nu Home Source Realty LLC) over 11 years ago

Donna- Great Post !!  I did not see that article... 

I think that it is not appropriate to accept foreign currency here in the US.  PERIOD !!  I think things are getting out of hand........ Can we pay the IRS with foreign currency??? NO   .... Oh, maybe they don't pay taxes so they aren't concerned about the tax issues.....There are so many people that live here in the US and don't pay taxes yet benefit from Social Services.  We all pay for that.

My husband is an Attorney & CPA.  He works for a Dallas based Commercial / Residential Real Estate company that does business all over the world....He specializes in International Tax.  This type of BS really curls his hair !!  His famous last words..."We all pay for that."

Interesting...We have an outlet mall here in Texas that has so many people from other countries working in the individual stores and the Kiosks (little mall vendors with carts)  ...That mall just claimed Bankruptcy...It's to my understanding that a percentage of sales goes towards the rent...I'm not in commercial real estate, so I could be wrong... 

I've been to this mall and it's always jammed...It's so crowded that I actually don't like going there unless I have too...I wonder how many of the store owners/workers are under reporting ???  Things that make you go,  Hmmmmmm...

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

Just because other countries accept the US currency doesn't mean we have to accept foreign currency here in the US...If your friend jumps off a bridge that doesn't mean you have to jump too !!

I need to run for President !!

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

Jumping off a bridge isn't quite a good comparison, Lauren. 

A more accurate analogy would be, when comparing some businesses in other countries accepting American dollars as a courtesy, if your friend does you a favor, that doesn't mean you have to do one back. 

 

Posted by Tricia Jumonville, Texas REALTOR , Agent With Horse Sense (Bradfield Properties) over 11 years ago

I've been out of the country...it's not based on courtesy.  It's contigent on how badly they want our business.

I was just in another country a few months ago...$9 US dollars for a bottle of water...I call that taking advantage of...not a courtesy.

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

Been to any music festivals or sporting events or other such in our country lately, Lauren?  The price of water there is pretty pricey, as well. 

And, yes, in those countries where I've been where some places accepted U.S. dollars, the price for the item was a bit more than it would have been if I'd paid with the local currency.  That I have no problem with, because they're risking having a changed exchange rate by the time they get the dollars to the bank to be changed into their local currency.  That is what usually happens - for example, the restaurant that started all of this likely takes the pesos to their American bank, paying the current exchange rate, and those pesos are converted into U.S. dollars for the restaurant to use to pay their taxes and their other bills.  The bank, then, uses those to converted pesos when converting U.S. dollars to pesos for those travelers who are vacationing there or traveling on business. 

Posted by Tricia Jumonville, Texas REALTOR , Agent With Horse Sense (Bradfield Properties) over 11 years ago

Tricia-  Thank you for the info...I'm very aware of how that works...I was in that country for a week and drank about three bottles per day, that comes to $189.00...It wasn't like one bottle at a sporting event...

There is a lot more to this issue than just that...It's just one more thing that we do to accommodate folks from other countries...

Are you aware that immigrants come to the US, apply for social security numbers, get jobs and work here for a short time...return to their countries and benefit for many years on US social security benefits... How sweet is that...

I wonder how many immigrants come here and hire their own relatives to "work for them" that really are not working and benefit from social security?

 

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

Lauren, no one said YOU have to accept foreign currancy.  Why the beef with a business that chooses to do so?

 

And I am so confused by your use of the word immigrant. 

I was unaware the Pizza place was only taking peso's from 'immigrants'.  And is the suggestion here, only ILLEGAL immigrants?

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

My feelings are that this will not last. It was a publicity gimmick that appears to have gotten them lots of it and after a short while it will disappear. There can't be that much need for a service like that in the DFW area.

Danny Smith REALTOR®  Avalar Real Estate Associates

 

 

Posted by Danny Smith (DISCOVER TEXAS HOMES) over 11 years ago

Hey Rob I think since the pizza place accepts peso's all the neighboring stores should accept it too.....So eventually there is no control and we just accept any currency even if most clerks have no clues what the exchange rate is.... Where does it stop ???

Straight to the point, no confusion there.

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

I agree with you Danny

 

Lauren... if the clerks don't know the exchange rate , why would the business owner even consider accepting foreign currency?

I have to run, but I have a question for you....IF, IF....someone offered to buy your car for TEN times as much as it's value, BUT, they paid you in Euro's..... would you take it?

My guess is, you wouldn't.  Methinks a LOT of people, including myself, would. Hypothetical? Of course, extreme?  Of course....but the point is... MOST foreign money CAN be exchanged for US currency.  If a person can make money on the exchange, what's the issue?  Capitalism at its finest. :^)

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

Rob-  I was just in Germany.... Not only was I in Germany...It cost $9 US dollars for a bottle of water !!  The hotel was $800 US dollars per night....What is that in Euro's ???   My personal investment firm is investing in a development there.... I don't need your insults along with Tricia. 

I'm not going to argue with you...

 

 

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

Lauren, you're not being insulted, but I'm sorry if you feel that you are.  We're talking about an important issue here; there are differing perspectives on it, sure, but disagreeing with someone doesn't mean that you're insulting them.

Danny, I agree that it's likely a publicity stunt that will run its course; however, if they become known to visitors from Mexico who happen to have pesos and don't know where a bank is to exchange them or don't want to go to the trouble only to have to do it again on their return (I know I have some English and Scottish money around here somewhere from our trip there almost a decade ago just because it was such a hassle to exchange it back, it may turn into a long-term "referral" form of marketing, if the food is any good.

 

Posted by Tricia Jumonville, Texas REALTOR , Agent With Horse Sense (Bradfield Properties) over 11 years ago
Tricia-  I agree that this is important.....I'm married to an International Tax Attorney.  I live this issue...His company owns Real Estate all over the world.
Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

You were not being insulted. I have no idea what you read to make you feel insulted.

I'm sorry you feel this way.  We have a  disagreement over the use of currency exchange.

 That's all it is.

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

The dollar is weak right now.  What is the problem you have with Germany?

I've spent $600 a night in NYC.... and?

I've also spent $25 in Mumbai....and?

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

 

 "I'm not sure how I feel about this.

""What do you think?"

Post #1.

I guess it wasn't really a question.

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

Sure it was, Rob.  Donna asked the question and we all ran with it! 

 

Posted by Tricia Jumonville, Texas REALTOR , Agent With Horse Sense (Bradfield Properties) over 11 years ago

"Do England and Scotland not use that Euro money they made across Europe?"

 I didn't realize England moved to the Euro.  Is that a recent move?

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

Rob, I missed that.  At the time we were there, the Euro didn't yet exist.  And Scotland and England did not use the same money - we had to exchange American money for English money, and then, when we went to Scotland, exchange English money for Scots money.  Sort of like exchanging Texas dollars for Louisiana dollars! ;-)

However, research shows that England is not one of the members of the European Union who use the Euro.  I'm not sure how current that information is - it was a quick google.

 

Posted by Tricia Jumonville, Texas REALTOR , Agent With Horse Sense (Bradfield Properties) over 11 years ago

England holds true to the "Pound Sterling"

wikipedia on the Euro for those who really want to hijack this blog into a new direction.

 Ken Stampe

Posted by Ken Stampe, iBrandPlan (iBrandPlan.com - Grow your e-Profile & Brand) over 11 years ago
Exactly Ken..... hijack it into an 'INSULT' blog as opposed to 'opinion'.
Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

http://washingtontimes.com/national/20060518-114132-2456r.htm

http://www.nber.org/papers/w6478

Forget the Pizza...

Read these two articles...This an entirely different direction which is what we should be concerned about.

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

Well, the first one is interesting...but I cannot find (yet) if the measures passed and were signed into law.I'll try and get back to that one.

The second is a bit more confusing as it is 9 years old and basically says that Americans support this position ( ...Despite their better deal, most immigrants in the HRS cohort will pay more in taxes than they will receive in benefits, although just barely. ). 

 Most of us, (born Americans) , will collect more than we pay - in 'real US dollar' terms.

In this second article we are discussing immigrants as opposed to ILLEGAL immigrants. I'm not so sure I want the US to be a country that discriminates against legal immigrants.  My Irish ancestors had enough of that nonsense.

[ Shall I assume we are off of the pizza story? ]

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

 OK, so now we have clarification.  Illegals at this point DO NOT get benefits.  Should we be concerned? maybe.  That's why we vote for the people that we think represent our particular views.

http://www.washtimes.com/national/20070104-120950-4277r.htm

Social Security for illegal aliens

By Stephen Dinan
THE WASHINGTON TIMES
January 4, 2007


An agreement the Bush administration reached with Mexico on Social Security benefits would allow illegal aliens granted amnesty in the future to claim credit for the time they worked illegally.
    The deal was reached in 2004 but never released publicly because it hasn't been submitted to Congress. The TREA Senior Citizens League, a Social Security advocacy group, recently obtained the document through a Freedom of Information Act, and said it confirms the group's worst fears.
    The document is a jumble of definitions and legal language, but a spokesman for the group said what's important is what's not in the text: It does nothing to prevent undocumented aliens who later get legal status from receiving benefits for the time they worked illegally. And that comes as the Social Security system's finances are about to be put under greater strain by the retirement of baby boomers.
    "If you open up the trust fund to people who have been working in the country illegally for many years, that bankruptcy date can only come sooner," spokesman Brad Phillips said. "People on the other side of this, people who have been arguing that of course illegal aliens can't get their hands on Social Security benefits, now can't make that argument easily anymore."
    But Mark Lassiter, a spokesman for the Social Security Administration, said the agreement doesn't change U.S. law. The law states that those who do not have authorization to work will not get benefits under a totalization agreement.
    "To get Social Security benefits, you do have to be legally in the United States. This agreement does not address in any way immigration, immigration laws or override current law,"
he said, adding that a 2004 law, the Social Security Protection Act, prevents illegal aliens from getting benefits.

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 11 years ago

http://www.reviewjournal.com/lvrj_home/2007/Jan-08-Mon-2007/opinion/11817687.html

 

Ron-  The above article was written 1/8/07.

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

This is great!  I don't mind about the hijack of the post.  I don't even eat pizza!

Everyone's view has been very interesting, and I'll try to find time this weekend to read all the links above.

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 11 years ago

Donna - This was a great blog !!  It has evolved !!

 

Ron - Here is another current article .... 

http://www.newsmax.com/archives/articles/2007/1/4/174024.shtml?s=al&promo_code=2BBD-1

 

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

We all need to be aware of this issue...See my previous comment/response to read the article on Social Security Bennefits........We all pay into a program that will probably not be there when it's our time to benefit...Why is it not going to be there ???     Because other people from other countries know our system better than us ....   

It's great to help people...I contribute to organizations to help people all the time...I don't like when people take advantage of the situation....I have a landscaper that does quite well, he's from another country....He has taken care of our lawn for several years......he is drives a nice car and truck, owns a nice home, has a full staff of workers, all the equipment to do the quanitity of work that he provides in our neighborhood...I pay him direct...My check is written to him.  He is always quite pleasant, very nice guy....He was just bragging how all of his four kids just got FREE school supplies from our program here in Texas that provides school supplies to poor families.

I have a cleaning lady from another country.  I pay her $140 bucks everytime she cleans my house....I have to make about $180 before taxes to pay her.  I write the check to her....I wonder if she pays taxes ????  She cleans several homes on my block.....Currently she is on a month long vacation in the tropics....

Americans are cool people...we wear cool designer clothes, we drive cool cars, we look cool...we have great choices of restaaurants / party clubs...we are happening...Everybody should love us because we are cool and have so much...

Folks from other countries do not love us, Americans....They love America...That is a big difference.... Why do they love America?  Because we have a "great system"... A system that is easily exploited...

Have you ever heard a person from another country say, "I love Americans?"   "They say I love America"

I took an International Business course in college.  My Professor was an immigrant...He said that people all over the world love America...never said Americans....

A good friend of mine runs a government office in the suburbs of Chicago...He hires people that get themselves fired on purpose to benefit from unemployment benefits.  They don't even hide it...these people have said, "well aren't you gonna fire me???"  THEY WANT TO BE FIRED. Not only do they want to be fired...they want to sue because they are amoung the protected class which is covered by the Affirmative Action program that was established back in approximately 1968.

Illegal aliens also get a break on college tuition...

http://www.cbsnews.com/stories/2006/05/10/opinion/main1608164.shtml

My son was on honors all four years in high school, on the B team football (small guy, weighed only 120 pounds), was given a community award, featured on the news in Chicago for saving a man's life..my son lunged forward and grabbed the front end of a 1989 Cutlas Supreme car that weighs about 4 tons...held it up by himself while the man under the car wiggled out because the jack gave out....The man was my son's best friend's dad...The bestfriend stood in horror...the man was air lifted to the hospital where he spent a month because his brain swelled and other complications....  We move here to Texas, my son applies to go to NTU and is denied...There was no reason to deny my son.....Decided on a different school and had to pay out of state tuition.

Posted by Lauren Corna, Broker (Archway Realty, LLC) over 11 years ago

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