Crime Is Not a Conspiracy Theory

Source: Commentary
by Noah Rothman

“There is a conspiracy afoot. A campaign is underway to make you believe that rampant, organized petty crime is responsible for pushing major retailers and the services they provide out of major metropolitan areas like San Francisco. Fortunately for the sleuths who have uncovered this nefarious plot, one of the conspirators sloppily confessed his involvement in an earnings call with investors. ‘You know, maybe we cried too much last year when we were hitting numbers that were 3.5 percent of sales,’ Walgreens CFO James Kehoe admitted in an early January conversation with stakeholders. In fact, ‘we’re down in the lower twos,’ he added. … While he now contends that this multi-billion dollar firm’s losses were off by only a point, Walgreens is ‘quite happy’ with current ‘shrink’ levels.” (01/17/23)