As Washington Fiddles – Retail Burns
In the coronavirus economy, to its credit, Simon Property Group has closed all their malls in the United States through the end of March. Many of the biggest retail names in the industry – Nordstrom, Macy’s Sephora, Nike, Ralph Lauren, Gap, and Apple have all done the right thing. These incredible companies have put their people and their customers ahead of profits and have earned the respect of consumers worldwide. While our Federal government is working hard to do the right thing, they seem to misunderstand retail. Bailout offers for many divergent industry groups are being floated at the highest levels of government but, except for medical supplies, the Administration consistently reminds us that there are no plans to suspend the burdensome tariffs that have been inflicted on our retail community. They continue to insist that China is funneling billions and billions of tariff dollars into our economy, when everyone knows that is simply not true. Read more at Forbes.
