Paltry fortunes for bank robbers: Who needs to rob banks when 72% of workers fear no job loss?
- November 1, 2022: Vol. 9, Number 10

Paltry fortunes for bank robbers: Who needs to rob banks when 72% of workers fear no job loss?

by Mike Consol

The number of U.S. bank robberies peaked in 1991 when 9,388 where committed, and has declined since. One potential reason: Robbing banks has become far less lucrative — after adjusting for inflation, anyway. The typical robber got away with $5,200 in the late 1960s. That’s more than $38,000 in 2019 dollars. But in 2019, the average was just $4,200. (Jay Zagorsky, Boston University professor) /// An astonishing 72 percent of employees worldwide are not concerned about losing their jobs. In a poll of 34,200 workers across 25 countries, most respondents believe they still have power over companies. Of those who said they would quit in the next 12 months, 17 percent stated that other companies are already recruiting them. (The Adecco Group) /// Since 2017, Russian and Chinese reactor designs have accounted for 87 percent of new installed nuclear reactors worldwide. However, China is gradually supplanting Russia and is set to become the world’s leading nuclear-power producer before 2030. (Defense One) /// Stellar Pizza, founded by a former SpaceX rocket scientist, has launched a fleet of trucks in Los Angeles staffed by robotic pizza chefs and human drivers. (Axios) /// Cannabis stocks surged by more than 30 percent after President Biden pardoned thousands of people convicted of simple marijuana possession. (CNBC) /// Las Vegas saw the most flight delays in North America during September (20 percent of the flights were late), followed by Dallas-Fort Worth. (Sam Chui, aviation blogger) /// General Motors is forming a new business unit to offer stationary battery packs, solar panels, electric vehicle chargers and other energy-management products for homes and businesses. The new unit, called GM Energy, aims to build on the battery and software expertise that GM has amassed in recent years to develop a new line of electric vehicles that will, in time, replace its internal-combustion offerings. (CNBC) /// The top 25 medical office space markets in the United States grew 13 percent since 2012, adding more than 52.7 million square feet. Los Angeles, Houston and Dallas-Fort Worth were the top medical office space markets, accounting for nearly one-quarter of all space added in the past decade. (Yardi Matrix) /// Amazon’s 11-year $13 billion contract to broadcast Thursday night NFL football games is spurring a jump in new Prime subscriptions. According to an internal memo, the Sept. 15 NFL broadcast attracted a record number of new Prime subscriptions for a three-hour period, even more people signing on than on Prime Day, Amazon’s biggest deal event of the year. (Bloomberg) /// The market for weight-management medicines could reach $54 billion in the next decade.  (Morgan Stanley Research) /// Oil will top $100 per barrel in 2023. (Bank of America) /// In late September, New York City had its strongest back-to-office week since the pandemic, with the average office occupancy hitting 47 percent, a major jump from the 38 percent the week before. A survey of Big Apple employers found 77 percent of employers are going to stay hybrid, requiring office attendance three days per week in most cases. (Squawk Box, Partnership for New York City) /// The U.S. Army is using augmented reality goggles to make soldiers better at close combat. It’s the biggest and most expensive upgrade for ground troops since body armor. (Popular Mechanics) /// U.S. businesses experience 42 cyberattacks each year, about three of which are successful. (Keeper Security, KPMG) /// About 40 percent of Russia’s federal budget revenues come from oil and gas sales. /// U.S. venture capital firms are sitting on $290 billion, including $162 billion reserved specifically for new investments. (The Information) /// Chinese electric vehicle maker Zhejiang Leapmotor Technology is aiming to raise $1.03 billion in a Hong Kong initial public offering. The company was ranked 12th in terms of sales in the first seven months among all EV makers in China, with a market share of 2.3 percent. (China Passenger Car Association) /// Brookfield Asset Management has plans to inject more than $2 billion into renewable projects in India during the next 18 to 24 months. Brookfield currently has 4 gigawatts of renewable projects in the country and already has invested $1 billion to bring a quarter of that into operation. (Bloomberg) /// From June to August, luxury home sales declined 28.1 percent year-over-year, the largest fall on record. (Redfin, The Real Deal) /// The Gulf States of the Middle East have had a dreadful two decades. Between wars and uprisings, 1 million people have died violently, and the region’s share of world GDP has dropped from 4 percent in 2012 to 3 percent. (The Economist) /// Hertz, the rental car giant — which in the last year has announced deals to purchase a total of up to 340,000 EVs from Tesla, Polestar and General Motors by 2027 — is working with a unit of BP to install thousands of new chargers at its U.S. locations. (CNBC) /// Lawmakers drafted a bill enabling investment managers to offer bitcoin in 401(k) plans. (Bitcoin Magazine).

Mike Consol ( is senior editor of Real Assets Adviser. Follow him on Twitter (@mikeconsol) and LinkedIn ( to read his latest postings.

Forgot your username or password?