FMI Asks for Delay on EMV Rollout - Wants October deadline pushed back to 2016
A trade group representing thousands of retail food stores and pharmacies is
asking the payment-card industry to delay an October plan that puts merchants on
the hook for fraudulent transactions if they don't have equipment in place to
accept more secure credit and debit cards. In a letter sent to Visa Inc.,
MasterCard Inc., American Express Co. and Discover Financial Services, the Food
Marketing Institute said that merchants won't be ready to meet an October
deadline that will shift liability for fraudulent transactions from card-issuing
banks to merchants. "Regardless of how strong the commitment or how many
dollars invested, the reality is that the system will not be ready to meet the
card networks' arbitrarily-set mandate for the liability shift in October 2015,"
according to the letter from Leslie Sarasin, president and chief executive of
the trade group. The group asked for the deadline to be pushed back to 2016.
Merchants are facing a 16-week delay for delivery of new equipment that can
accept the new cards, according to the letter. The trade group also noted
that the new cards, which are dipped into a reader instead of swiped, could add
time to the checkout process as the industry moves into the holiday shopping
season. Representatives of MasterCard and American Express said they have no
plans to change the date. Representatives of Visa, and Discover didn't have an
immediate comment on the request.
Wal-Mart exec calls 'Chip & Signature' upgrade a 'joke'
Wal-Mart's executive in charge of payments thinks the United States' switch to
chip-based credit cards is going to be a disappointment. The new "chip &
signature" program is barely an improvement on security and fraud, said Mike
Cook, Wal-Mart's assistant treasurer and a senior vice president, at this week's
Electronic Transaction Association's Transact conference in San Francisco. Cook
said Wal-Mart would have preferred a "chip and PIN" system that Europe and
Africa have, since PINs would protect cards from being stolen. "The fact that we
didn't go to PIN is such a joke," Cook told CNNMoney. "Signature is worthless as
a form of authentication ... If you look at the Target and Home Depot breaches,
not a single PIN debit card needed to be reissued in those breaches. The card
number was worthless to the individual thief and fraudsters, because they didn't
know the PIN." Wal-Mart started installing EMV-capable payment terminals at
its stores eight years ago, and they're already active today.
Negotiating with Cybercriminals - 30% of Security Professionals Say They Would
Pay for the Return of Their Data A survey of 250 security
professionals at U.S.-based companies by ThreatTrack Security found 70% opposed
to having their company negotiate with cybercriminals to get back stolen data or
restore encrypted files, while 30% said they would pay. Two-thirds of
respondents said they are concerned about negative reactions from employees and
customers if the company was found to have negotiated with cybercriminals.
Forty-four percent said the government should be notified immediately and given
complete access to networks to investigate extortion attempts.
Data collection for the 2015 National Retail
Security Survey has begun
If you are a senior LP or AP executive for a major U.S. retail chain and have
not yet received a link invitation to complete the on-line survey, please notify
Dr. Richard Hollinger by email via
in previous years, the NRSS is both confidential and anonymous. The results will
be presented in June at NRF Protect in Long Beach. However, this assumes a
robust response rate from all major retail firms. Please make sure that your
shrinkage data are included in this year's report by participating now.
RLPSA Hosts Metro Houston Crime Workshop
Event on April 28
The Restaurant Loss Prevention & Security Association (RLPSA) is hosting
a free one day workshop focused on crime activity against QSR's, casual dining
restaurants and other foodservice institutions, with an emphasis on activity in
the greater Houston area April 28 from 8:30 a.m. until 5 p.m. at Dave &
Buster's, 6010 Richmond Avenue, Houston, TX. The program is designed to bring
awareness, open discussion and solutions, and to better prepare LP and Security
teams, as well as law enforcement entities. Space is limited. Contact Jim Forlenza at
firstname.lastname@example.org to register.
McDonald's wage hike likely to spread to other chains
McDonald's rivals could be forced to match the raises that the chain is handing
out as they compete harder for fast-food and retail workers. "As a matter of
course, we routinely review restaurant employee compensation to ensure we remain
competitive in the marketplace," Wendy's spokesman Bob Bertini said Thursday.
Yum Brands, which owns KFC, Taco Bell and Pizza Hut, said in a statement, "We
will remain competitive with our wages wherever we operate to attract and retain
the best talent." McDonald's said it plans to increase pay at least $1 more than
the local minimum wage on July 1 for the 90,000 employees at corporate-owned
restaurants. It expects wages to rise to more than $10 an hour by the end of
Domino's is paying more to hire the right people: CEO
Domino's is having a tougher time finding workers to bake and deliver pizzas as
the economy improves, President and CEO Patrick Doyle said on Monday. The chain
may have to follow in the footsteps of Wal-Mart and McDonald's and raise wages.
"The reality is the labor market is tightening up, and we've got to respond to
that. It's getting harder to hire people," he told CNBC's "Squawk Box," adding,
"We've got to do what the market demands to get the right people for our
business." Like McDonald's, the vast majority of Domino's locations are
franchised, so the decision to raise wages would come down to entrepreneurs.
However, Doyle said Domino's needs to pay more to hire people right now at its
Will Macy's take over Belk stores?
Just weeks after Macy's declared it's looking for a new way to grow revenues, a
major North Carolina rival confirms it might be for sale. But analysts are
skeptical the Cincinnati-based retailer wants to double-down on a traditional
department store concept. Belk, based in Charlotte, North Carolina, operates 297
department stores throughout the Southeast from Maryland to Texas. Belk's
nearest store to Cincinnati is in Ashland, Kentucky. Last week, Belk reported a
$146.1 million profit on revenues of $4.1 billion, but disclosed it was
reviewing its long-term strategic plan and hired investment banker Goldman Sachs
to weigh its options.
Party City expects to raise up to $372 million in IPO
Party City Holdco Inc, the largest U.S. party goods retailer, said it expects to
raise up to $372 million in an initial public offering of its shares. The
company, backed by buyout firm Thomas H. Lee Partners LP, said it expects the
offering of 21.9 million shares to be priced at between $15 and $17 per share.
Party City is valued at $1.97 billion at the high-end of the range. The company,
which operates 900 party superstores in the United States and Canada, has grown
through the acquisitions of Party City, Party America Corp, Factory Card & Party
Outlet, Party Packagers and iParty Corp.
Amazon's Drones Exiled to Canada, as FAA slows up CEO Jeff Bezos
Jeff Bezos is known for refusing to suffer fools. His reported put-downs
include: "Why are you wasting my life?," "Are you lazy or just incompetent?" and
"I'm sorry, did I take my stupid pills today?" Imagine someone as impatient as
the Amazon CEO being forced to move at the speed of bureaucrats. This explains
Amazon's decision to take on the Obama administration's Federal Aviation
Authority. The FAA is years late in approving commercial use of drones and has
violated numerous congressional deadlines. Mr. Bezos says regulatory inertia -
not massive R&D - is blocking Amazon's futuristic plan to have low-flying
vehicles deliver within 30 minutes the 85% of its packages weighing less than
five pounds. The Guardian recently published an article by reporter Ed
Pilkington, who was granted access to Amazon's secret testing facility at a
location 2,000 feet across the border in Canada. The Guardian said Amazon is
taking advantage of the "permissive culture on the Canadian side of the border,"
while taking the company's "quarrel with the federal government to a new level."
Amazon is trying to shame U.S. regulators into action by publicizing what the
Guardian calls "Amazon's Canadian airstrip-in-exile."
Walmart Distribution Center Associate killed in fall - only 2nd week on the job
Jefferson County Sheriff Office says that man who died from an accident at the
Wintersville, Ohio Walmart Distribution Center was 25-year-old Nick Desarro of
Wellsville, Ohio. That accident happened 9:30 Friday morning. Desarro fell out
of a forklift and suffered a fractured skull and jaw. Sheriff Fred Abdalla said
it's unclear if Desarro had some sort of medical issue and that an autopsy will
be conducted that would hopefully provide more answers. Desarro had been
employed at the distribution center for only two weeks.
Brinks employee busted for stealing more than $350K from Bossier City casino
A Brinks, Inc., messenger has been charged in Shreveport with felony theft for
depositing $354,000 in Horseshoe Casino cash and other financial instruments at
his home, instead of the Brinks vault. Louisiana State Police said Saturday that
its Police Gaming Operations Section was contacted by Horseshoe Casino in
Bossier City on Wednesday in reference to a shortage from a deposit the casino
made to Capital One Bank on March 23. Troopers immediately launched an
investigation and casino representatives provided documentation which revealed
that three bags of currency, markers, credit car receipts and personal checks
were picked up from the casino by Brinks, Inc., armored courier service on
Sunday, March 22. Troopers reviewed surveillance coverage and confirmed Brinks
personnel did indeed retrieve three bags of currency from the casino. The bags
were to be deposited the following Monday at Capital One Bank in Shreveport.
Documentation of the manifest received from Capital One Bank revealed the bag,
which contained $354,879.86, was never delivered to the bank for deposit.
Former Dell exec named CEO of RadioShack, as former CEO steps down
NRF: Retailers add 23,100 jobs in March - YoY gains top 231,000
Dunkin' Donuts to open 7 new Illinois stores
Survey: 1/7 employees would sell their corporate password to an outsider
Camera app provides real-time license plate recognition for retailers
Last week's most popular news article --
OSHA fines Dollar General $83,000 for 'serious' violations - "blocked & locked
exits" Dollar General stores across the nation have received more than
40 violations after 70 inspections since 2009. But the store in Carroll County
is the one that recently received a hefty fine. Four violations, three repeat
violations, one of them serious for a total of $83,050," said Christie Griffin.
She says when one of her teams went inside the Bowdon, Georgia store, they found
multiple, serious violations. Continually exposing their workers to the hazards,
blocked exits, locked exits, blocked electrical panels have been found
throughout their corporation nationwide. They seem to have not taken the message
to all of their workers in protecting them," said Griffin. They are all
violations that OSHA says are extremely dangerous for their employees and
customers, especially when it comes to the emergency exits. "Dollar General is
taking immediate actions to address and remedy cited violations at our store in
Bowdon, Georgia and look forward to scheduled discussions in early April to
review the citation with OSHA officials. Dollar General is further working with
all store teams throughout the 43 states we serve to provide additional training
on safety protocol measures to reinforce the company's safety policies and
prevent any future violations."