Fri January 27, 2012
The Last Word In Business
Originally published on Fri January 27, 2012 9:04 am
STEVE INSKEEP, HOST:
And today's last word in business is say it ain't so - or actually, say it ain't Joe.
A Los Angeles restaurant famous for its nine cent cup of coffee is raising the price to 45 cents - 50 cents with the tax. Management at Philippe the Original told the L.A. Times they can no longer keep up with the cost of coffee. The family-run restaurant has been serving French dip sandwiches since 1908, along with eight-ounce mugs for less than a dime.
Loyal patrons told the Times they do not mind this 400 percent hike for coffee. In fact, they wondered what took so long. And, of course, it is still cheaper than a vanilla mocha frappe latte with whip.
That's the business news on MORNING EDITION from NPR News. I'm Steve Inskeep. Transcript provided by NPR, Copyright National Public Radio.