Yesterday, the Oklahoma House of Representatives passed Senate Bill 550 by a vote of 69 - 23. The bill overturns a dated 1941 law that prevents retailers from selling merchandise for less than 6-percent above cost. Basically, what the bill does is legalize those crazy "Black Friday" sales in Oklahoma. That's pretty good news if you like to wait in line at Wal-Mart to buy cheap Dynex TVs.
Before the bill passed, it was debated on the house floor by state lawmakers. One who spoke in favor of the legislation was House Co-Majority Leader Dennis Johnson (R-Duncan). He owns a small business and had some insightful thoughts on the issue. The most interesting was how he deals with those pesky customers who try to "Jew him down on a price."