Connect with us

Headlines

NRF to Congress: Reopen the Federal Government

Retail group says shutdown is “unnecessary and damaging”.

mm

Published

on

NRF to Congress: Reopen the Federal Government
PHOTO: ISTOCKPHOTO

The shutdown of the federal government that started at midnight on Oct. 1 is bad news for the economy and should be resolved as quickly as possible, the National Retail Federation said in an open letter to Congress.

“With the holiday season fast approaching, the economic uncertainty caused by a government shutdown is both unnecessary and damaging, further eroding consumer confidence at a critical time,” the NRF statement said. “While retailers face many external challenges beyond the control of policymakers, this is not one of them. A shutdown is avoidable, and its impact is entirely within the power of Congress to resolve.

“We respectfully ask that every effort be made to restore full government operations as quickly as possible.”

This is the 22nd government shutdown since 1976, according to Newsweek. “Some of these – the shorter ones – have had nominal impacts on the economy. But longer shutdowns, particularly over the last 15 years, have had much more sizable impacts.

“The most recent shutdown [in 2018] and the longest in U.S. history [35 days] came at a big cost. The Congressional Budget Office estimated that the five-week partial government shutdown cost the economy $11 billion. While much of that loss was expected to be recovered once federal operations resumed, the report projected a permanent loss of roughly $3 billion in GDP.”

Advertisement

SPONSORED VIDEO

Exceeding Every Expectation: How Wilkerson Helped d’Original Jewelers Achieve an Outstanding Retirement Sale

When David Rees decided to retire after 34 years of serving Bellevue, Washington’s Eastside, he and his wife knew their exit from d’Original Jewelers needed to honor their decades-long commitment to customers while meeting their financial goals. Since opening in 1990, David had built a reputation as one of the area’s most trusted names for diamonds, custom jewelry, and repairs. Understanding that a successful retirement sale requires more than just discounting merchandise, David chose Wilkerson to manage his transition. What impressed him most was their attention to detail, particularly in accounting and sales projections. The results far exceeded his expectations — the sale significantly outperformed projections, delivering exceptional financial results that surpassed his retirement goals. “They were always there for support. If we needed anything, they were able to accomplish that,” David shares. For jewelers contemplating retirement, David’s experience demonstrates Wilkerson’s proven ability to deliver outstanding results while providing comprehensive support throughout the entire process. His recommendation? “100% yes.”

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Advertisement

Most Popular