As I wrote about on Monday, September 22nd, The House Judiciary Committee’s Subcommittee on Crime, Terrorism and Homeland Security held a hearing on Monday at 4:00PM EDT to address three bills introduced that would help fight organized retail crime. If you missed the webcast, you can watch it, and read the testimony given by all witnesses here.
There is no doubt that this is a huge issue for retailers, and the problem is growing. The FBI estimates that retailers are losing $30 billion a year to ORC. During his testimony, Congressman Brad Ellsworth of Indiana stated that the state of Indiana lost $40 million in tax revenue in 2006 due to ORC.
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