The Rising Cost of US protests
From police injuries to financial losses from looters, the aftermath from weeks of cross-country protests is bringing some cities to their knees. All told, the unruly demonstrations following the deaths of George Floyd, Breonna Taylor and Ahmaud Arbery could make it one of the costliest displays of civil disorder in U.S. history.

Here’s a look at the financial impact of demonstrations across five U.S. cities.

• Minneapolis - $500M
• New York City - $294M
• Chicago - $66M
• Sacramento - $40M
• Portland - $23M
• Washington D.C. - $14.5M  1010wcsi.com foxnews.com

Chicago Looting Update: Businesses still boarded up 1 week after looters ransacked River North, Mag Mile, Loop
One week after looting and unrest, many Chicago businesses are still boarded up and their owners are trying to decide what to do next. Nearly every business along the stretch of State Street from Kinzie to Illinois in River North still had its windows and doors boarded up Monday. Some said that depending on the type of glass used, it can take several weeks for a replacement.

"We're very much in a wait-and-see mode for a lot of our retailers," said Adam Skaf, a spokesperson for the Magnificent Mile Association. Its members are business owners in the downtown area, which as of Monday morning still had a large police presence, hoping to reassure the Zara's and Gucci's of the world. Because while as corporations, their financial losses can be recouped, the city and state can't afford to lose them.

"This downtown base of residents and business generates almost $2 billion for the City of Chicago," Skaf said. "If those types of retailers leave in the future, that leaves a huge hole in our tax base downtown and that affects the whole city."

The city hasn't released any hard numbers, but damages from last week are estimated to be in the tens of millions of dollars. While rumors abound as to which large retailers might be exiting the downtown area, none have officially pulled the plug. abc7chicago.com

Chicago police announce several arrests in Aug. 10 looting

‘Antifa’ protesters trash Williamsburg Whole Foods, Apple over weekend
Dozens of protesters, including suspected members of the anti-fascist group Antifa, rampaged through Williamsburg over the weekend, trashing several national chain stores and spraying anti-police graffiti, according to police and sources.

According to a police source, “officers observed a group of approximately 75 people believed to be part of the Antifa group.”

Footage from the scene posted by liveleak.com shows a half-dozen people wearing hoodies and dressed mostly in black hurling objects at the Apple Store while another is seen spraying graffiti — with at least one demonstrator inside the store. The video shows a larger crowd outside Whole Foods, where a man who appears to be an employee engages the protesters. Further footage shows the mob of protesters marching past people sitting at sidewalk tables outside several restaurants. nypost.com

Portland protesters beat driver unconscious after crashing truck near Black Lives Matter rally

Data shows Portland Police are taking 50% longer to respond to high-priority calls

Seattle cop tells BLM protester he’s quitting force: ‘You guys won!’

Hoover, AL: Several arrests made after protests at Galleria Mall

 

COVID Update

US: Over 5.6M Cases - 174K Dead - 2.9M Recovered
Worldwide: Over 22.1M Cases - 779K Dead - 14.8M Recovered

Private Industry Security Guard Deaths: 183   Law Enforcement Officer Deaths: 82
*Red indicates change in total deaths

Coronavirus pandemic now driven by younger adults: WHO
The World Health Organization (WHO) said on Tuesday it was concerned that the novel coronavirus spread was being driven by people in their 20s, 30s and 40s, many of whom were unaware they were infected, posing a danger to vulnerable groups.

WHO officials said this month the proportion of younger people among those infected had risen globally, putting at risk vulnerable sectors of the population worldwide, including the elderly and sick people in densely populated areas with weak health services. reuters.com

1st Piece of Great News in the COVID Fight
New York Has Tamed the Virus. Can It Hold Off a Second Wave?
The sustained low rate of infection has surprised local health officials. But a resurgence may be inevitable, despite the state’s and city’s best efforts.

Health experts in New York City thought that coronavirus cases would be rising again by now. Their models predicted it. They were wrong.

New York State has managed not only to control its outbreak since the devastation of the early spring, but also to contain it for far longer than even top officials expected.

Now, as other places struggle to beat back a resurgence and cases climb in former success-story states like California and Rhode Island, New York’s leaders are consumed by the likelihood that, any day now, their numbers will begin rising.

The virus is simply no longer as present in New York as it once was, epidemiologists and public health officials said.

The question now is whether the state, where 32,000 people have died of the virus, can keep from being overwhelmed by another wave, as threats loom from arriving travelers, struggles with contact tracing and rising cases just over the Hudson River in New Jersey.

New York owed its current success in large part to how New Yorkers reacted to the viciousness with which the virus attacked the state in April. nytimes.com

 

COVID-19 Impacting the UK
Just Like the U.S.

COVID Response Benchmarking
UK Department of Business Releases
'Working safely during coronavirus (COVID-19): A retail guide'
To help retailers navigate the unprecedented situation they face, Business Companion has launched a comprehensive guide that sets out how they can continue to operate safely during the COVID-19 pandemic. It is accompanied by a series of Annexes tailored to addressing the issues faced by specific types of retailer, such as those which operate outdoors, those in food and drink, those which visit customers’ homes, and vehicle traders.

Working safely during coronavirus (COVID-19): A retail guide has been designed for businesses in need of accurate, reliable and up-to-date information on their responsibilities to staff and customers, and will be updated regularly in line with the latest government guidance as the situation develops. With 5 guides to the highest risk retail environments.

It includes industry-specific guidance on PPE, cleaning and hygiene, fitting rooms, queue management, and deliveries and returns. It also contains answers to frequently asked questions and a step-by-step guide to completing a COVID-19 risk assessment.

The guidance is available to read on the business companion website, to read in a digital edition booklet or to download in a fully designed or printable format. A dedicated landing page has been set up for the guidance at www.workingsafelyretailguide.co.uk.

COVID-19 Impacting UK Retailers Just as Much as U.S.
UK Retail COVID-19 Job Cuts in Last 90 Days

Marks & Spencer to cut 7,000 jobs Boots to cut more than 4,000 jobs Dixons Carphone to cut 800 jobs Debenhams to cut 2,500 jobs + cut 1,000 in May Wickes & Toolstation to cut 2,500 jobs WH Smith to cut 1,500 jobs	Arcadia to cut 500 HQ jobs Clarks to cut 900 jobs Harrods to cut 700 jobs White Stuff cuts nearly 400 jobs Ted Baker to cut 500 jobs Selfridges to cut 450 jobs
Total Cuts - 21,850 jobs

Sexual Harassment Charges Impact Stock Price
Case in Point McDonald's

Sexual Harassment Foreshadows Weak Stock Performance: Study

How much does a high incidence of sexual harassment within a company hurt firm value?

The news last week that McDonald’s is suing its former CEO Steve Easterbrook to recover severance pay he received when fired last fall is the latest reminder, if any is needed, of the pain companies undergo when top executives are exposed for alleged sexual misbehavior.

Announcement of the firing in November triggered a volume of trading in the company’s stock that was more than four times its average daily level as well as a share-price drop of about 2.7% on a day the three major stock indices all rose.

But if company woes from public exposure of C-suite sexual misconduct have become a familiar story, what about the more common variety that gains little, if any, media or regulatory attention — sexual harassment across the length and breadth of company ranks? As a new study asks, how much does a high incidence of sexual harassment hurt firm value?

Plenty, concludes the research presented last week at the annual meeting of the American Accounting Association.

The research on sexual harassment in the workplace draws on data from about a thousand public firms over a six-and-a-half-year period. A high incidence of sexual harassment in a given year is likely to predict decidedly weak stock performance in the following year, the study found.

Take, for example, firms with the dubious distinction of ranking among the top 2% in harassment incidence, as measured by sexual-harassment complaints on popular career-information web sites. Those companies’ returns in the following year averaged about 20% below what would be expected from standard asset-pricing models and the market’s overall performance.

The research paper is titled, “How Much Does Sexual Harassment Hurt Firm Value?” cfo.com

Red Flagged: Internal Audit Scores Poorly in Digital Transformation Efforts
Internal audit leaders should develop new skills to stay relevant
Chief audit executives (CAEs) and internal audit leaders report their next-generation competency levels in three vital areas – governance, methodology and enabling technology – to be remarkably low, a Protiviti survey reveals.

The survey also identified that the majority of internal audit functions are at risk of losing relevance for not modernizing and transforming the audit process, against the increasing demands of today’s stakeholders

Nearly 780 Chief Audit Executives (CAEs) and internal audit leaders were surveyed across industries to uncover the pressing priorities for internal audit functions when it comes to next-generation auditing skills.

Audit leaders should step up their innovation and transformation initiatives

In what should be a red flag for chief audit executives and audit committees, enabling technology received some of the lowest competency-level self-assessments in the entire survey: (rated on a 1 to 5 scale with 5 being highest)

Internal audits poor survey results continued

2016's Wells Fargo Account Fraud Drives New Risk Model
That only took four years

Wells Fargo adds teams of Chief Risk Managers and Chief Compliance Officer
Wells Fargo & Company announced the appointment of six new Corporate Risk leaders as part of its enhanced Risk model to further strengthen the independent oversight of all risk-taking activities and a more comprehensive view of risk across the company. In addition, the company announced that Mike Roemer, the current Chief Compliance Officer, has decided to leave Wells Fargo following a transition period.

“Our new model will strengthen our centralized, independent risk management program, provide greater consistency in how we manage risk across our businesses, and better position us for the future,” said Chief Risk Officer (CRO) Mandy Norton.

The model consists of five line-of-business CROs, along with other teams aligned by risk type, each reporting to Norton. The new leaders, who will all report to Norton.

The new leaders were named following the May 2020 announcement of the enhanced Corporate Risk model, which noted that Kevin Reen would join Wells Fargo as CRO of Consumer Lending and that Bill Juliano would join Wells Fargo as chief operational risk officer. securitymagazine.com

The One to Watch in C-Stores
Casey’s Makes Leadership Changes

The c-store chain announced four additions to its leadership team as well as a promotion.

Iowa-based Casey’s General Stores, which operates over 2,200 convenience stores in 16 states, is continuing to build out a robust and diverse leadership team; the company announced several recent additions to the team as well as a promotion.

Vice President, Asset Protection; EN: 2nd Biggest Job in AP filled in 2020 so far. And AP was included in this major announcement - not usually the case - great exposure for our industry.

Larry Carroll joined Casey’s with responsibility for building out its asset protection strategy from loss prevention to compliance to risk management. Carroll brings over 30 years of experience in asset protection and operations. He most recently served as VP, Asset Protection, Inventory Analytics and Compliance at 99 Cents Only Stores. Prior, Carroll served in progressive asset protection and loss prevention roles at Beverages and More, Save Mart Supermarkets and Albertsons.

Vice President, Guest Insights: Carrie Stojack (new role for the company)
Vice President, Procurement: Jamie Robles
Vice President, Human Resources - Field Operations: Nan Thomae
Vice President, Total Rewards: Sherri Hart

Casey’s General Stores operates over 2,200 convenience stores in 16 states. Founded more than 50 years ago, the company has grown to become the fourth-largest convenience store retailer and the fifth-largest pizza chain in the U.S. cstoredecisions.com

Editor's Note: They've been staffing up and bringing in some strong talent and making significant investments. This retailer is setting itself up for some big moves in the market.

Just my thought. -Gus Downing

Expect a Run on Your Supply Chain Population & An Exodus of Your Top Talent
-- Employers could be facing a talent exodus according to a new survey by global recruiter DSJ Global. While 50% are confident or very confident in their job security, 41% of global respondents say they are unlikely to stay with their current employer in the next few months.

Methodology: The DSJ Global Job Confidence Index surveyed over 650 experienced supply chain professionals via an online survey and consultant follow up. The survey ran in Asia Pacific between February and March and in Europe, the Middle East, and the United States between March and May 2020. prnewswire.com

Editor's Note: Regardless of this survey this data makes simple sense given the explosion in fulfillment centers, DC's, and cross-docks popping up everywhere. And with Amazon opening them up across the nation and Walmart and now Kroger expanding their marketplaces you can expect lots of job openings in this arena and a potential salary war with headhunters babysitting candidates through the entire process which increases the difficulty of retaining your high performance folks. Because any good one will find out who they are and target them. So just keep your eyes and ears open. Isolate those single days off and or long weekends popping up last minute. Holiday's are coming and need to fill fourth quarter jobs is upon us. Good Luck.

Coming Tomorrow: Another Retail CEO Sued For Rape - Multiple Women & Even Family Member

Aldi is America's Fastest Growing Grocer

Pizza Hut to close 300 locations 7 sell 927

Payless to open 300 to 500 stores


Quarterly Results
Home Depot Q2 comp's up 23.4%, U.S. comp's up 25%, sales up 23.4%

Walmart Q2 U.S. comp's up 9.3%, U.S. ecommerce up 97%, total revenue up 5.6%
   Sam's Club comp's up 13.3%, eCommerce sales up 39%
   Walmart International net sales down 6.8%

Kohl's Q2 sales down 22.9%%

Senior LP & AP Jobs Market

Re-Posted & 'Actively Recruiting'
Director Asset Protection job posted for Stop & Shop in Quincy, Mass.
The primary purpose of this position is to provide protection of company assets by organizing the investigation and distribution of information. The AP Director is responsible to ensure Brand needs are met through staffing and development of their respective AP team. The incumbent works closely with the Operations Lead & Shrink Lead to ensure programs that positively impact profits and reduce shrink are executed effectively and provide required results. In addition, the incumbent partners with the Investigations Lead regarding large-scale ORC investigations. brassring.com  linkedin.com