This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.nytimes.com/2020/05/19/business/coronavirus-7-eleven.html

The article has changed 20 times. There is an RSS feed of changes available.

Version 4 Version 5
It Took a Pandemic, but 7-Eleven in Japan Is Letting Stores Take a Break It Took a Pandemic, but 7-Eleven in Japan Is Letting Stores Take a Break
(about 1 hour later)
TOKYO — On April 14 in a residential neighborhood of Kawasaki, Japan, Takehiro Shimada did the unthinkable. He turned off the lights and locked the doors of the 7-Eleven he has owned and operated for over 20 years.TOKYO — On April 14 in a residential neighborhood of Kawasaki, Japan, Takehiro Shimada did the unthinkable. He turned off the lights and locked the doors of the 7-Eleven he has owned and operated for over 20 years.
As recently as January, the decision would have seemed like a radical act of defiance against one of the country’s most powerful and ubiquitous companies and its longstanding commitment to 24-hours-a-day, seven-days-a-week operations.As recently as January, the decision would have seemed like a radical act of defiance against one of the country’s most powerful and ubiquitous companies and its longstanding commitment to 24-hours-a-day, seven-days-a-week operations.
But when Mr. Shimada, 54, closed his shop to wait out the coronavirus outbreak, he became the first of a growing number of 7-Eleven franchisees across Japan to do so with the company’s quiet blessing.But when Mr. Shimada, 54, closed his shop to wait out the coronavirus outbreak, he became the first of a growing number of 7-Eleven franchisees across Japan to do so with the company’s quiet blessing.
A deadly contagion has done what a chorus of pleas from owners could not: forced the company that controls the 7-Eleven chain, Seven & I Holdings, to exempt some of its locations from policies it has spent years fiercely defending.A deadly contagion has done what a chorus of pleas from owners could not: forced the company that controls the 7-Eleven chain, Seven & I Holdings, to exempt some of its locations from policies it has spent years fiercely defending.
It is a relief for store owners who were already putting in grueling hours for meager returns before the virus struck and have since watched business dry up as Japan’s workers sheltered at home under a state of emergency.It is a relief for store owners who were already putting in grueling hours for meager returns before the virus struck and have since watched business dry up as Japan’s workers sheltered at home under a state of emergency.
“This is the chance for people to shorten their hours,” Mr. Shimada said during a recent video call from his crowded stockroom. “The emergency declaration is the reason, the best possible reason.”“This is the chance for people to shorten their hours,” Mr. Shimada said during a recent video call from his crowded stockroom. “The emergency declaration is the reason, the best possible reason.”
As Japan moved last week to lift that declaration across much of the country, however, some franchisees were wondering if the change of heart would outlast the pandemic.As Japan moved last week to lift that declaration across much of the country, however, some franchisees were wondering if the change of heart would outlast the pandemic.
Allowing an owner to close shop for a few hours in the dead of night or during a national holiday might not seem like a big deal. But 7-Eleven, so omnipresent in Japan that it is considered part of the national infrastructure, believes that consistent service across all of the country’s 21,000 locations is crucial to the brand’s value. Like many franchises, it has strict expectations for everything from shops’ layout to how employees dress and greet customers.Allowing an owner to close shop for a few hours in the dead of night or during a national holiday might not seem like a big deal. But 7-Eleven, so omnipresent in Japan that it is considered part of the national infrastructure, believes that consistent service across all of the country’s 21,000 locations is crucial to the brand’s value. Like many franchises, it has strict expectations for everything from shops’ layout to how employees dress and greet customers.
In December, the company severed the contract of one owner, Mitoshi Matsumoto, after he decided to close his shop in the Osaka area on New Year’s Day, Japan’s most important holiday. 7-Eleven has said the decision was in response to the high number of complaints registered by customers against Mr. Matsumoto. The matter is now the subject of competing lawsuits.In December, the company severed the contract of one owner, Mitoshi Matsumoto, after he decided to close his shop in the Osaka area on New Year’s Day, Japan’s most important holiday. 7-Eleven has said the decision was in response to the high number of complaints registered by customers against Mr. Matsumoto. The matter is now the subject of competing lawsuits.
Even during the pandemic, 7-Eleven has seemed to bend its rules only reluctantly.Even during the pandemic, 7-Eleven has seemed to bend its rules only reluctantly.
In late March, as the virus spread and Mr. Shimada, the owner in Kawasaki, began to worry about the risks to his store and its employees, he pressed the company to let him temporarily shut down. He had closed his doors only once before, during a two-week renovation.In late March, as the virus spread and Mr. Shimada, the owner in Kawasaki, began to worry about the risks to his store and its employees, he pressed the company to let him temporarily shut down. He had closed his doors only once before, during a two-week renovation.
At first, Mr. Shimada said, management did not respond. At the same time, though, it was taking a very different position toward its own employees, advising commuters to its corporate headquarters in Tokyo to stay home and telling managers to reduce visits to stores. It allowed some locations in train stations to close.At first, Mr. Shimada said, management did not respond. At the same time, though, it was taking a very different position toward its own employees, advising commuters to its corporate headquarters in Tokyo to stay home and telling managers to reduce visits to stores. It allowed some locations in train stations to close.
When Mr. Shimada, who has spent nearly his whole tenure with the company fighting for more control over his store’s operations, pointed out what he saw as a double standard, the company quickly relented.When Mr. Shimada, who has spent nearly his whole tenure with the company fighting for more control over his store’s operations, pointed out what he saw as a double standard, the company quickly relented.
Since then, 7-Eleven has started giving owners a “pretty substantial amount of freedom,” said Takanori Sakai, the head of a small union representing convenience store owners.Since then, 7-Eleven has started giving owners a “pretty substantial amount of freedom,” said Takanori Sakai, the head of a small union representing convenience store owners.
“The stores that want to are for the most part shortening their hours,” said Mr. Sakai, who owns a Family Mart, part of a rival chain, in Hyogo Prefecture, west of Kyoto.“The stores that want to are for the most part shortening their hours,” said Mr. Sakai, who owns a Family Mart, part of a rival chain, in Hyogo Prefecture, west of Kyoto.
“Nothing like this has happened before,” he said, adding that “when the pandemic is over, there will be an opportunity to make this the standard.”“Nothing like this has happened before,” he said, adding that “when the pandemic is over, there will be an opportunity to make this the standard.”
As of Sunday, 7-Eleven said it had closed 236 locations across the country. It declined to say how many stores had shortened their hours, an indication of the issue’s continued sensitivity.As of Sunday, 7-Eleven said it had closed 236 locations across the country. It declined to say how many stores had shortened their hours, an indication of the issue’s continued sensitivity.
The company also declined to comment about Mr. Shimada. About the store closings, it said: “Current closures or changes to operating hours related to the virus are temporary measures on an individual basis.”The company also declined to comment about Mr. Shimada. About the store closings, it said: “Current closures or changes to operating hours related to the virus are temporary measures on an individual basis.”
In theory, franchisees have the right to choose their own hours, but owners say that pressure from management, restrictive conditions and punitive incentive structures keep them from exercising the option.In theory, franchisees have the right to choose their own hours, but owners say that pressure from management, restrictive conditions and punitive incentive structures keep them from exercising the option.
Many stores have carried on business as usual. In Tokyo’s once bustling business districts — where another chain, Lawson, has reported a 70 percent drop in sales — 7-Eleven’s signs continue burning late into the night.Many stores have carried on business as usual. In Tokyo’s once bustling business districts — where another chain, Lawson, has reported a 70 percent drop in sales — 7-Eleven’s signs continue burning late into the night.
Complaints about long hours are not limited to 7-Eleven, but the company, which has been controlled by a Japanese firm since 1991 and accounts for nearly 40 percent of the 55,000 convenience stores nationwide, sets the tone for the whole industry.Complaints about long hours are not limited to 7-Eleven, but the company, which has been controlled by a Japanese firm since 1991 and accounts for nearly 40 percent of the 55,000 convenience stores nationwide, sets the tone for the whole industry.
The country has closely watched as franchisees — who operate the vast majority of the company’s stores — have put pressure on 7-Eleven through media campaigns and political rallies, arguing that they need more latitude in making financial decisions to ensure their businesses can remain profitable.The country has closely watched as franchisees — who operate the vast majority of the company’s stores — have put pressure on 7-Eleven through media campaigns and political rallies, arguing that they need more latitude in making financial decisions to ensure their businesses can remain profitable.
Long before the coronavirus hit, margins were thinning and costs were rising at many 7-Eleven locations, as competition for labor in Japan’s aging and shrinking work force increased and convenience store chains rapidly opened new locations as part of a pyrrhic struggle for contracting market share.Long before the coronavirus hit, margins were thinning and costs were rising at many 7-Eleven locations, as competition for labor in Japan’s aging and shrinking work force increased and convenience store chains rapidly opened new locations as part of a pyrrhic struggle for contracting market share.
Trapped in a cycle of diminishing returns, 7-Eleven franchisees argued that the policy of never closing their doors, born in an era of go-go economic expansion, no longer made financial sense as the country’s growth slows and its population dwindles.Trapped in a cycle of diminishing returns, 7-Eleven franchisees argued that the policy of never closing their doors, born in an era of go-go economic expansion, no longer made financial sense as the country’s growth slows and its population dwindles.
Mr. Shimada and other maverick owners say the company’s insistence on round-the-clock operations is one of several business practices that squeeze franchisees for profit while making them bear a disproportionately large share of the costs of running their shops.Mr. Shimada and other maverick owners say the company’s insistence on round-the-clock operations is one of several business practices that squeeze franchisees for profit while making them bear a disproportionately large share of the costs of running their shops.
They argue that the policies, such as pressuring owners to overstock perishable goods, which they buy directly from the company, and charging them large penalties for quitting their franchise contract, can push stores into a debt trap.They argue that the policies, such as pressuring owners to overstock perishable goods, which they buy directly from the company, and charging them large penalties for quitting their franchise contract, can push stores into a debt trap.
The complaints led the Japanese government to move to open an inquiry last summer into the industry’s business practices. Around the same time, after months of pressure, 7-Eleven allowed Mr. Shimada and other owners to join a pilot program to test how stores would perform under shortened hours.The complaints led the Japanese government to move to open an inquiry last summer into the industry’s business practices. Around the same time, after months of pressure, 7-Eleven allowed Mr. Shimada and other owners to join a pilot program to test how stores would perform under shortened hours.
In an interim report to the government issued at the end of April, 7-Eleven said it had allowed a small fraction of its franchisees, 234 locations, to shorten their hours under the program. Those owners had to forfeit 2 percent of their profits to do so.In an interim report to the government issued at the end of April, 7-Eleven said it had allowed a small fraction of its franchisees, 234 locations, to shorten their hours under the program. Those owners had to forfeit 2 percent of their profits to do so.
The company’s tolerance of closures has been one of the few silver linings for owners during the pandemic, which has added to the intense pressure on many of their businesses.The company’s tolerance of closures has been one of the few silver linings for owners during the pandemic, which has added to the intense pressure on many of their businesses.
Updated June 2, 2020 Updated June 5, 2020
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.
Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home.Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
More than 40 million people — the equivalent of 1 in 4 U.S. workers — have filed for unemployment benefits since the pandemic took hold. One in five who were working in February reported losing a job or being furloughed in March or the beginning of April, data from a Federal Reserve survey released on May 14 showed, and that pain was highly concentrated among low earners. Fully 39 percent of former workers living in a household earning $40,000 or less lost work, compared with 13 percent in those making more than $100,000, a Fed official said.
Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.
Sales of sandwiches and rice balls have dropped precipitously as people have stopped commuting, said Toshiro Masuda, who has spent decades running a profitable location in the Tokyo suburb of Hachioji.Sales of sandwiches and rice balls have dropped precipitously as people have stopped commuting, said Toshiro Masuda, who has spent decades running a profitable location in the Tokyo suburb of Hachioji.
Mr. Masuda, 71, an artist and self-described former student radical, has long been a vocal, if amiable, critic of 7-Eleven, frankly discussing the company’s flaws in media appearances and bringing college friends from his elite alma mater, Waseda University, to hector management at annual shareholder meetings.Mr. Masuda, 71, an artist and self-described former student radical, has long been a vocal, if amiable, critic of 7-Eleven, frankly discussing the company’s flaws in media appearances and bringing college friends from his elite alma mater, Waseda University, to hector management at annual shareholder meetings.
Since the emergency declaration, he said, fewer people are dropping in for an early coffee or a pack of cigarettes on their way home from a night out. Business in the early hours has almost stopped.Since the emergency declaration, he said, fewer people are dropping in for an early coffee or a pack of cigarettes on their way home from a night out. Business in the early hours has almost stopped.
“Initially, I thought I would shorten my hours, but my part-timers asked me to stay open,” he said, adding that he had continued to keep his regular hours, despite the economic pressure, to ensure they got a paycheck.“Initially, I thought I would shorten my hours, but my part-timers asked me to stay open,” he said, adding that he had continued to keep his regular hours, despite the economic pressure, to ensure they got a paycheck.
The virus has placed other financial burdens on owners. While 7-Eleven has provided some masks and protective equipment, many owners have purchased additional gear like gloves and goggles at their own expense, and installed plastic barriers to protect their employees and themselves from the pathogen.The virus has placed other financial burdens on owners. While 7-Eleven has provided some masks and protective equipment, many owners have purchased additional gear like gloves and goggles at their own expense, and installed plastic barriers to protect their employees and themselves from the pathogen.
Since March, at least 32 7-Elevens across the country have closed for periods ranging from a few days to nearly a month after employees contracted the virus.Since March, at least 32 7-Elevens across the country have closed for periods ranging from a few days to nearly a month after employees contracted the virus.
The financial burdens of the closings fall mostly on the franchisees. Replacing spoiled food alone can cost $3,000 or $4,000 — equal to a few weeks of earnings for some 7-Elevens. And after stores reopen, customers are often hesitant to enter the site of a known infection.The financial burdens of the closings fall mostly on the franchisees. Replacing spoiled food alone can cost $3,000 or $4,000 — equal to a few weeks of earnings for some 7-Elevens. And after stores reopen, customers are often hesitant to enter the site of a known infection.
The convenience store chain has taken modest steps to compensate owners and their employees. Last month, the company offered each store a one-time payment of about $930 and said it would give employees prepaid cards that could be used to buy groceries and other necessities.The convenience store chain has taken modest steps to compensate owners and their employees. Last month, the company offered each store a one-time payment of about $930 and said it would give employees prepaid cards that could be used to buy groceries and other necessities.
Last Wednesday, it announced that it would extend interest-free loans of about $4,700 to owners and make an additional $930 available to those whose sales have dropped 10 percent or more.Last Wednesday, it announced that it would extend interest-free loans of about $4,700 to owners and make an additional $930 available to those whose sales have dropped 10 percent or more.
Eiji Yoshimura, an executive committee member of the convenience store owners union, said the measures were just window-dressing.Eiji Yoshimura, an executive committee member of the convenience store owners union, said the measures were just window-dressing.
Mr. Yoshimura, who owns a 7-Eleven in central Tokyo, said the company was “putting on one Band-Aid after another, but the result is that those stores will ultimately go under.”Mr. Yoshimura, who owns a 7-Eleven in central Tokyo, said the company was “putting on one Band-Aid after another, but the result is that those stores will ultimately go under.”
“Basically, nothing gets resolved,” he said.“Basically, nothing gets resolved,” he said.
Owners who have taken advantage of the company’s new lenience are not convinced it will last.Owners who have taken advantage of the company’s new lenience are not convinced it will last.
Mr. Shimada reopened his store on Friday, although he plans to maintain reduced operating hours.Mr. Shimada reopened his store on Friday, although he plans to maintain reduced operating hours.
What happens next, he believes, depends on the owners. Many are afraid of the company, he said, but “they should speak up.”What happens next, he believes, depends on the owners. Many are afraid of the company, he said, but “they should speak up.”
“Owners are working until they die or go bankrupt,” he said. “Now is the time for change.”“Owners are working until they die or go bankrupt,” he said. “Now is the time for change.”