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The contention around the 2020 presidential election is having some ripple effects, one of which is an effect on holiday shopping.Experts believe the delayed results are part of the reason there’s been a drop in holiday shopping, which retailers desperately need. So far, this year has been one of the toughest years for retail, especially brick and mortar stores.First, the pandemic forced closures and even as stores reopened, shoppers were initially hesitant to return to in-store shopping. Now, as holiday shopping starts to ramp up, the contentious presidential election has become a significant distraction for shoppers.“Consumers not knowing how to react have hit the pause button on their spending,” said Greg Portell, lead partner in the global consumer practice of Kearney.Portell believes without a clear winner in the presidential election and also acceptance of that victory, the holiday shopping season will not be what retailers needed.“The risk and uncertainty tied to civil unrest and the randomness of it at times, is really going to dampen consumers going into those locations,” said Portell. “That really takes the momentum out of what was a close recovery to what was traditional shopping patterns.”“Between the pandemic, the election,” said Mark Cohen, “it just doesn’t feel like we are going to have a jolly old Christmas.”Cohen, the Director of Retail Studies at the Columbia Business School, explained consumers need tranquility to spend and some excitement to spend the way they normally would for the holidays.“We’ve got a society of highly anxious, insecure, emotional, and battered consumers,” said Cohen, “None of that looks like it fits into any definition of tranquility.”However, some, like John Copeland with Adobe Analytics, caution against full doom and gloom around holiday shopping.“Typically, the day after an election, consumers slow their shopping a little bit,” said Copeland.Adobe Analytics data, gathered through its market-leading Adobe Analytics tool kit, shows in 2016 consumer spending dropped 14% after the election. After the 2018 midterms, it dropped 6%. So far, the day after this election, the drop was around 12%.However, those like Cohen and Portell expect, as the protests and legal battles over the election continue, even fewer people will want to spend money on shopping.If that starts to prove true, Copeland expects retailers will respond with new incentives for shoppers to start shopping at the “normal” holiday pace.“I think what we will see is retailers do more of what we already expect them to do which is pull their discounts and deals sooner into the season,” said Copeland. 2651
The Centers for Disease Control and Prevention released a report today that says fentanyl has become the deadliest drug in the nation, overtaking heroin.From 1999 to 2016, drug overdose deaths in the United States tripled from 6.1 per 100,000 people to 19.8 per 100,000 people, the CDC report says. The study examined decedents who were U.S. residents with an underlying cause of death being a drug overdose, including people who did it unintentionally and intentionally (suicide and homicide and undetermined reasons)."The top 10 drugs involved in overdose deaths remained consistent throughout the 6-year period, 622
The Columbus Dispatch reported it obtained a copy of a police incident report where Courtney Smith, the ex-wife of now fired Ohio State football assistant coach Zach Smith, claimed that Ohio State lawyers told her not to press charges.The police report was obtained from an anonymous source and not directly from the Powell, Ohio Police Department. The Dispatch said that Powell Police Chief Gary Vest did not dispute the authenticity of the report. The report, which was dated Oct. 26, 2015, Officer Ben Boruchowitz of the Powell Police wrote, "The victim states that last year, the suspect choked her until she could not breathe. The victim states that the suspect tells her all the time that he will kill her.”In the report, according to the Dispatch, Courtney Smith told Boruchowitz that OSU lawyers were "convincing her to drop the charge because it would embarrass OSU if she proceeded with the prosecution.”After the Dispatch's report came out, Courtney Smith told ESPN that she had not seen a copy of the incident report, but that the claim that OSU lawyers told her to drop the charges was not accurate. OSU officials told the Dispatch it was unaware of the allegation and would investigate. Ohio State head football coach Urban Meyer, who was aware of the 2015 incident, did not fire Zach Smith until last month when he was made aware that Courtney Smith had filed a protection order against Zach Smith. Meyer claimed that because charges were not filed against Zach Smith, he was not obligated to notify Ohio State.After a three-week investigation, Meyer was suspended for three games for mishandling Zach Smith's employment with Ohio State. Meyer's boss, Athletic Director Gene Smith, was also suspended for two weeks by the university. To read the Dispatch's full report, click here. 1865
The damage wrought by Hurricane Irma has sparked a fresh wave of giving from corporate America.The extent of the destruction in Florida and the Caribbean isn't yet known, and Irma is still making its way toward Georgia as a tropical storm. It could be one of the costliest natural disasters in U.S. history.Corporate donations raised in the immediate aftermath of Hurricane Harvey, which struck two weeks ago, totaled about 0 million.A fundraising effort called Hand in Hand, backed by Verizon, Apple and other major companies, is hosting a televised fundraiser on Tuesday at 8 p.m. ET. Beyoncé and Oprah Winfrey are among the celebrities who have signed on.Here is a running list of all the ways companies have promised to help, both for Harvey and Irma relief.Apple: Donated million to the Red Cross in addition to pledging million for the Hand in Hand effort.Bank of America: Donating more than .5 million to victims of the two storms, including 4,000 donated by bank employees, which the company matched.Citi: In the wake of Irma, the Citi Foundation committed a million donation to the Red Cross, bringing its total hurricane relief contributions to million.Goldman Sachs: Committed to giving 0,000 to organizations involved in the "immediate search, clean-up and recovery efforts" after Harvey struck the Gulf Coast. After Irma, the company promised 0,000 more.Home Depot: Pledged million for Harvey and Irma relief.Humana: Says its Humana Foundation will donate million to the Red Cross for Irma relief.IBM: Has pledged million. It says million will go toward Harvey relief and million toward helping Irma victims.Qualcomm: Says it gave million to the Center for Disaster Philanthropy. Qualcomm gave million more to various disaster relief organizations after Harvey struck Texas.Target: Pledged up to million to Irma relief organizations, including the Red Cross, Habitat for Humanity, the Salvation Army, UNICEF and Save the Children. This is in addition to a .5 million donation for Harvey relief.UnitedHealthcare: Announced a donation of million for Irma relief, and also a 2-to-1 match for employee donations.Verizon: After announcing a million commitment after Harvey, Verizon said it would donate .5 million to Hand in Hand.Walmart: Has committed to donating up to million to hurricane relief.Wells Fargo: Pledged .1 million to Irma relief efforts in Florida and the Caribbean, nearly half to the Red Cross. The company said its customers have donated, via ATMs, nearly .7 million to the Red Cross for Harvey relief.--CNNMoney's Aaron Smith contributed to this report.The-CNN-Wire 2671
The E.W. Scripps Company is a partner with The Associated Press and has been following guidance from their election desk on 2020 race updates.Until Saturday morning, Pennsylvania was not called despite Biden gaining a lead on Friday.The Associated Press declared Democrat Joe Biden the winner of his native Pennsylvania at 11:25 a.m. EST. The AP called the race for Biden, who held a 30,952-vote lead after it determined that the remaining ballots left to be counted would not allow Trump to catch up. Under Pennsylvania law, a recount is automatic when the margin between two candidates in a statewide race is less than 0.5 percentage points. Biden’s lead over Trump was on track to stay outside of that margin. The AP called the race for Biden after it determined that the remaining ballots left to be counted would not allow Trump to catch up. 854