Retail expert warns rise in crime could ‘catalyze the next recession’
Strategic Resource Group managing director Burt Flickinger argues the consumer will be compromised by ‘higher retail prices and massive out of stocks’ due to a rise in thefts.
Strategic Resource Group managing director Burt Flickinger warned on Thursday that rising retail crime “is going to compromise the supply chain, crush the economy and catalyze the next recession.”
Flickinger argued on “Mornings with Maria” on Thursday that thefts lead to “higher retail prices and massive out of stocks, which compromise the consumer and the economy concomitantly.”
He made the comments in response to railroad company Union Pacific (UP) saying it has experienced a 160% increase in criminal rail theft in Los Angeles County over the past year. The company estimates more than 90 packages are compromised per day.
“In several months during that period, the increase from the previous year surpassed 200%. In October 2021 alone, the increase was 356% over
