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Banking Crisis Redefines 'Better Safe Than Sorry'

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By JOSH POLTILOVE | The Tampa Tribune

Published: October 13, 2008

Action Lock And Safe usually sells a few home safes on Friday and Saturday -- total.

But with a struggling banking sector, the Gunn Highway business sold seven safes Friday and two Saturday.

"Security, food and shelter are the three important things when times are tough," said Ed Jurewicz, the store's owner. Some people don't trust government and want to keep their money safe at home, he said.

"Last week, sales started picking up. I noticed it in the beginning of the week."

Gary Cooper, whose Tampa Safe Exchange store on Causeway Boulevard sells gun safes, said he hasn't seen much of a change in sales in his field.

The chief operating officer of an Odessa bank safe sales company, meanwhile, says his business is making a profit but that many similar ones are struggling or have gone out of business.

"I'll be honest with you, with the economy the way it is, it should be negatively affecting us," said Ray Scannapieco, chief executive officer of Collier Safe Co., whose Odessa business caters to financial institutions. "But we are doing more business this year than last year. I can assure you we're not the norm in the industry."

Many smaller manufacturers in Scannapieco's field have folded or are struggling, he said.

Large banks such as Wachovia are facing hardships, and they are not spending much money right now, Scannapieco said.

Reporter Josh Poltilove can be reached at jpoltilove@tampatrib.com or (813) 259-7691.

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