[Stu from NYC]

Originally Posted by alwann

PenBF:

If you wanted suggestions and not a hornet's nest of opinions, you didn't have to say much more than]:Given this is coming a simple question is what is your alternatives to pay for the destructions and stealing and loss of business?[/I]

Your lede graph disguised the intent of your question.

Very true sorry now I gave a suggestion

[jimbomaybe]

The solution is the same it has always been, raise your prices to make up for the the loss, or move your business to some place that has less of a problem, Having your business looted and gutted is a strong motivator to seek opportunities else where

I think most merchants use a form of what your jeweler friend does. markup the cost to cover looting as an expenses because it isn’t covered by insurance. but they apply the up charge to all customers, so in a minority neighborhood prices need to be higher because of the crime.

[joseppe]

Originally Posted by PennBF

I was visiting with a friend who owned some Jeweler stores and we got into the discussion of customers who cheated on payment, (e.g. bad checks, had a account but did not make payments,etc.). The question was what is a fair way of recovering
your loss. His way was what ever ethnic group the cheater was in would be slowly over charged until the loss was paid up. It did not matter if you Italian, Irish, Afro-American you paid for your ethnic group cheater. The Jeweler said this was the only
fair way he could see to cover the loss. His logic was each ethnic group should take pride in their name and not stand for anyone disgracing it for any reason.
Now we have the riots. Could the police identify the ratio of ethnic groups arrested and home addresses and tax those in the districts they come from in ratio to the ones who rioted and were arrested. That may be a basis to start those populations to understand the cost of destruction, stealing, rioting, and get them to start controlling the the bad seeds. I know this will bring out the lot of do gooders, and a bunch of rationals why it is a stupid solution. Given this is coming a simple question is what is your alternatives to pay for the destructions and stealing and loss of business?

Trying to weed out and charge costs to different ethnic groups is more effort, work and cost than just doing what is currently done, raise prices across the board to all customers to absorb the loss. Better yet, as most businesses do build it into your overall pricing plan just like large retailers who for example have a 2% return allowance built into their pricing.

As for the costs incurred due to the riots ... As usual we're all going to pay for that. If the government bails out then its with our tax dollars. If businesses raise prices to cover the costs of recovery we again all pay for that. Even the people doing the rioting will be part of the cost recovery ... if they're part of main stream america who hold jobs and pay taxes.

With the costs of recovery from riots and from COVID you can expect you'll be shelling out more money over the next few years to pay for all of it. Effectively, we're all going to pay ourselves those stimulus checks and then some.

[Stu from NYC]

Originally Posted by jimbomaybe

The solution is the same it has always been, raise your prices to make up for the the loss, or move your business to some place that has less of a problem, Having your business looted and gutted is a strong motivator to seek opportunities else where

You nailed it