Shoplifting rises 6 percent
The global recession has sparked a 6 percent increase in shoplifting, an international business group reports, costing merchants nearly $115 billion. “In addition to the usual criminals,” said Joshua Bamfield of the Center for Retail Research, “you have lots of newcomers to stealing who figure they don’t run much risk at getting caught.”
Time
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Bogus Medicare claims cost over $47 billion
The U.S. paid more than $47 billion in questionable Medicare claims last year, nearly three times the amount of fraudulent claims paid out the previous year, a federal watchdog reports. Bogus claims include prescriptions issued in the names of long-dead doctors.
The Washington Post
Madoff auction takes in $900,000
An auction of goods formerly owned by financial fraudster Bernie Madoff brought in more than $900,000, which will go to victims of his scam. Madoff’s New York Mets jacket, with his name embroidered on the back, fetched $14,500—20 times the expected price.
CNNmoney
Retails sales down 8.2 percent
Retail sales rose 1.4 percent in October, led by auto sales rebounding from the slump that followed the end of the cash-for-clunkers program. Retails sales so far this year total $3.38 trillion, down 8.2 percent from a year earlier.
Marketwatch.com
Thanksgiving dinner will cost less this year
The cost of a classic Thanksgiving dinner is down 3.8 percent from last year, the steepest drop since 2000, says the American Farm Bureau. The items accounting for most of the decline are whole milk, down 92 cents a gallon, and turkey, down 44 cents a pound.
Bloomberg.com
