I was just faced with finding a new bike for my son, so he could join me on weekend rides and mini tours. I found him a Schwinn Super Sport for $349 at the local Performance Bike. It's an aluminum flat bar road bike that can be fitted with fenders and racks, which I've done. I bought him Performance brand rear panniers and handlebar bag and the whole thing came to $600 or so. Everything at Performance is still on sale, so take a look!