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Corporate America is finally waking up to the fact that woke policies on crime are costing them billions.
Organized shoplifting efforts and flash mobs of robberies across the country caused businesses $100 billion in losses in 2021 and have only gotten worse since then according to the National Retail Federation. As former Home Depot CEO Bob Nardelli recently put it, Biden’s America has become a “lawless society.”
And a lawless society is bad for business. Big companies, from Whole Foods, Walmart and Walgreens to Nordstrom, Dick’s Sporting Goods, Lululemon and more have all suffered. Mom-and-pop businesses have suffered too.
While all businesses factor in some amount of loss from theft, euphemistically called “shrink” in the industry, this recent phenomenon reaches a whole new level. As a result, companies have closed stores, revised earnings estimates, and taken hits to their top and bottom lines, resulting in loss of shareholder value and harm to the communities they serve.
LAPD said 18 suspects, from age 15 to 20, were arrested in a massive organized retail theft operation. (LAPD)
But why is this happening now? The answer