Recession hits the brothel business
One Nevada madam says clients no longer have as much money to spend, and she worries about the fiscal cliff negotiations in Washington.
In this video, the madam who runs the famous Mustang Ranch brothel in Nevada says business has been better. Susan Austin thought prostitution would be recession-proof, but that didn't happen.
"When a lot of my high rollers all of a sudden discovered they didn't have the discretionary income and they couldn't play as hard as they used to, well that definitely dug into their wallets which definitely affected us," she told CNBC's Jane Wells.
The company doesn't count prostitutes among its employees. Instead, the prostitutes work as independent contractors that negotiate prices with customers and then pay Mustang Ranch a commission, Wells reports. If customers decide to use one of the larger, nicely decorated suites, it can add $1,000 to their bill.
The Ranch has been forced to drop prices on its "Pleasure Menu." And though it's tough to imagine the fiscal cliff being a top conversation topic there, Austin seems to be worried about the potential of higher taxes and a heavier burden on the rich that the fiscal cliff may bring.
"Anything that happens in Washington affects everybody in the United states," she said. "It's going to trickle down to me sooner or later. So it's definitely going to hurt me in the end."
More from Money Now
My vote does to the madame from the ranch. Lets run her for president in 2016.. Maybe she can straighten out DC..LOL
Demand hasn't changed. Supply has probably gone up. The market is allways right, isn't that true free marketers?
So time to drop prices, and hold a black friday sale. See if business picks up. Try outsourcing. Perhaps lobby for trade restrictions on premarital relations.
Seriously, I doubt the "Fiscal Cliff" has anything to do with this. They call it the oldest profession for a reason. As the realtors say, "when the price is right, the house will sell".
It's a sad day in hell when a rich man can't afford a whore! That's why they need a tax cut. Now I know what types of jobs the rich are starting up.
So tell, Einstein, which "poor man" signs your paycheck? Or do you even have a job?
Tell the prostitutes to move to Washington DC. I'm sure they will find an abundance of lucrative business doing in-House calls.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Car buyers are taking out bigger loans, but monthly payments are staying close to the levels they were last year.
- Should the US scrap the debt ceiling?
- Will new mortgage rules mean fewer lenders?
- Why GM, Chrysler are riding high
- Survey: Dashboard lights fail to send right message
- Can you opt out of Medicare?
- Student loan debt climbs for 5th year in a row
- Plans revived for 'floating city' of 50,000 people
- Homeowners insurance: Bountiful coverage for bad cooking
- 3 stocks for the 3-D printing revolution
[BRIEFING.COM] The major indices are looking to hold the line on the downside. They aren't at their lows for the day, but they are close.
Thus far, we have seen recurring support keep things from extending further which, in turn, has prompted some recurring buy-the-dip action. The net result is that it has been a pretty range-bound market for most of the session as neither buyers nor sellers are staking much of a claim in front of the November employment report ... More
More Market News
The American Family Association is asking shoppers to avoid the chain because the holiday isn't mentioned in advertising.