RILA head urges action to head off economic turmoil

Retail Industry Leaders Association President Sandy Kennedy on Thursday called on Congress to pass legislation that would help restore order to the country's battered financial markets.

Kennedy said in a statement that RILA member companies include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.4 trillion in annual sales, operate more than 100,000 stores, manufacturing facilities and distribution centers, and provide millions of jobs domestically and worldwide.

For our member companies and for our customers the implications of continued instability in the financial and lending markets are dramatic, the statement said. Sagging consumer confidence and borrowers unable to access credit foreshadow devastating declines for retailers small and large. Therefore, on behalf of retailers nationwide, their employees and the millions of customers they serve, RILA urges Congress and the White House to act in a bipartisan manner to expeditiously solidify the financial markets and return stability to our economy. 

Source: American Shipper