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Beer Coaster Maker Declares Bankruptcy
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1:26
RENEE MONTAGNE, host:
The economy, or perhaps just changing tastes, may put an end to a century-old manufacturing business. Our last word in business today is coaster crisis. Since the 1880s, bartenders around the world have been tucking little cardboard squares and circles under customer's beer glasses. Beer coasters not only protect bar counters, they're a medium for advertising. They've become collector's items, and some people use them for competitive sports, as in coaster stacking and coaster throwing.
The German news site Spiegel Online reports that the world's leading beer coaster maker has gone bankrupt. The Katz Group in Germany controlled 97 percent of the U.S. coaster market. It could be a fatal blow to coaster culture, though it's not clear yet whether the company is reorganizing its finances or ending production altogether.
And that's the business news on MORNING EDITION from NPR News. I'm Renee Montagne. Transcript provided by NPR, Copyright NPR.
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