Howard Davidowitz joined us today… Ten’s of thousands of stores closing, malls closing, it’s a nightmare. We have 3 times more stores than similar countries like Japan and France. Online is expanding by leaps and bounds. Brick and mortar companies are successfully expanding into online. It might look like they’re doing well, but this success is coming at a great cost. Staples and Macy’s and other brick and mortar retailers are doing major sales but losing money. They’re cannibalizing their own store sales. They don’t have a choice, but it’s killing them. A continuing catastrophe for retailers. This will cause commercial real estate to flounder as well. The developers will walk and send the keys off to the lender. Jingle mail on steroids. Howard then talks about healthcare reform, tax reform, the Trump Presidency and the economy at large.
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