Here’s what we have for you today:
• Finding happiness
• FTX pay up
• The retail trouble
FTX trying to recover money
So far: Crypto exchange FTX has recovered more than $5 billion in liquid assets but the extent of customer losses in the collapse of the company founded by Sam Bankman-Fried is still unknown, as an attorney for the company so far told a U.S. bankruptcy court.
The update: Andy Dietderich, an attorney for FTX, told U.S. Bankruptcy Judge John Dorsey that the $5 billion recovered does not include assets seized by the Securities Commission of the Bahamas, where the company was headquartered and Bankman-Fried resided.
Retail crime is way higher than reported
Leadership statement: Recently, Walgreens Chief Financial Officer, James Kehoe, expressed satisfaction with the company’s performance on store theft (what retailers call “shrinkage”). “We’re stabilized,” he said, and Walgreens is “quite happy with where we are” on shrinkage.
In reality: Store managers say there’s nothing they can do. If a thief comes in and steals less than $1,000 USD of products, the police will not prosecute. When they do prosecute, the accused thief is given a court date and goes home.
Conflicting data: Companies are recording less crime in stores but some of that is because so many thefts don’t get prosecuted so they go unrecorded.
The numbers are way higher than reported and it’s not a corporate problem, only the government can solve this. Seems like as Americans we never get all the government that the tax dollars pay for.
Part of creating a happy society
Helpful characteristics: Learning, working, playing, eating – in Japanese “Seikatsusha” is a word that refers to people who live their daily lives in a multifaceted manner.
The view: One form of happiness for human beings would be “pin koro”, a Japanese concept that means a long, healthy life and a peaceful end. It is the ultimate form of happiness that people facing the social challenges of an aging society desire.
In business: Company leaders must show leadership and address social challenges through their businesses, drive innovation and growth, and create value that contributes to happiness. In doing so, collaboration is important.