The New $5 Bill is Designed to be Smarter, Safer, More Secure
The Federal Reserve Board and the U.S. Treasury announced the newly designed $5 bill will enter circulation on March 13. Businesses that have vending and self-checkout machines must adapt their machines to accept the new bill.
Existing $5 notes will continue to circulate, therefore the self-checkout and vending machines will have to be able to accept both designs. Retailers should contact the manufacturers of these machines to confirm necessary updates have been made.
In a prepared statement, Rose Pianalto, assistant to the board of governors of the Federal Reserve Board, said, “Because the $5 bill is used so extensively in vending and self-checkout machines, encouraging businesses to get those machines updated to accept the new design has been a particular focus for us.”
The U.S. Treasury’s Bureau of Engraving and Printing also recommended training employees who accept cash so they can quickly identify the security features incorporated in the new $5 bills. Employees should hold the bills to the light to check for these features:
Watermarks: The redesigned $5 bill contains two watermarks. A large number “5” watermark is located to the right of the portrait, replacing the previous watermark portrait of President Lincoln found on the older-design $5 bills. A second watermark, consisting of a column of three smaller “5”s, has been added to the new design and is positioned to the left of the portrait.
Security thread: An embedded security thread runs vertically and has been moved from its position to the left of the portrait in older-design $5 notes to the right of the portrait on the redesigned $5 bill. The letters “USA” followed by the number “5” in an alternating pattern are visible along the thread from both sides of the bill. The thread glows blue under ultraviolet light.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.