Dewey Fernfield
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
There is an obvious fact, people are here today hoping for a return to normal. In the meantime, things are changing, rapidly. Entire industries are becoming unnecessary or obsolete. Sure you can get around with a horse and buggy, but today, most people drive their car. The difference is that changes are happening so rapidly that it’s not a generational event. It’s in a matter of years or even months. Without a relatively stable transition period, many will be left out of work and the displacement will have a negative impact on certain sectors of the economy.
76% of American CEOs they’ll likely reduce company office space | Fortune
76% of American CEOs say they may shrink office space
Around 3 in 4 American CEOs say their company will need less office space in the future. That’s the finding from a Fortune survey in collaboration with Deloitte.
Visualizing the Vacant Office Space in San Francisco
Visualizing the Vacant Office Space in San Francisco
As we noted last week, there is nearly 12 million square feet of vacant office space now spread across San Francisco, including 5.6 million square feet of un-leased space and 6.2 million square feet of space which has been leased but is now sitting vacant and actively seeking a subletter (which is up from 770,000 square feet of sublettable space at the same time last year).
80,000 furloughed as bus industry grinds to a halt – CNN
80,000 furloughed as bus industry grinds to a halt | CNN Business
Clarence Cox took over a 35-year-old motorcoach business from his father and uncle and had hopes of one day giving it to his daughters. But with a $5 million fleet parked for months during a pandemic, and no federal aid, his goal now is just to make it to the end of 2020.
Exxon Mobil ‘very close’ to disclosing U.S., Canada job cuts, says CEO
Exxon Mobil ‘very close’ to disclosing U.S., Canada job cuts, says CEO
Exxon Mobil Corp is “very close” to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email on Wednesday. The job cuts are part of a plan unveiled this spring to redesign how Exxon works and to increase competitiveness, CEO Darren Woods said in an email to its nearly 75,000-person workforce.
Carter’s to close 25% of stores as leases expire | Chain Store Age
Carter’s to close 25% of stores as leases expire
Carter’s is closing a big chunk of its store base but it isn’t giving up on new store growth.
8,800 Disney part-time union workers being laid off
Disney layoffs: 8,800 part-time union workers among those being laid off
The 8,800 layoffs are in addition to the 6,700 layoffs already announced for non-union Disney workers.
Dunkin’ Brands holds acquisition talks with Arby’s owner Inspire Brands
Dunkin’ Brands holds acquisition talks with Arby’s owner Inspire Brands
Dunkin’ Brands on Sunday acknowledged that it has held talks on a potential sale to Arby’s owner Inspire Brands. Karen Raskopf, chief
Cathay Pacific to cut 6,000 jobs, axe Cathay Dragon brand: SCMP
Cathay Pacific to cut 6,000 jobs, axe Cathay Dragon brand: SCMP
The airline said in June it was reviewing its strategy in light of the travel downturn, with “tough decisions” to be announced during the fourth quarter and analysts expected it would announce major job cuts. The South China Morning Post said the airline was expected to announce the job cuts on Wednesday, adding the figure had been reduced from 8,000 layoffs after government intervention.
Gap Inc. to shutter 350 stores by 2024 in plan to exit malls
Gap Inc. to shutter 350 stores by 2024 in plan to exit malls
Gap joins other clothing retailers in trying to reinvent themselves during the COVID-19 pandemic.
Brain Corp Expands Commercial Relationship with Sam’s Club to Power In-Club Autonomous Robots and Connected Data Services
Brain Corp Expands Commercial Relationship with Sam’s Club to Power In-Club Autonomous Robots and Connected Data Services
PRNewswire/ — Brain Corp, an artificial intelligence (AI) company creating transformative core technology in robotics, today announced that Sam’s Club is…
Vacancy: Prices at NY hotels down $200 with more pain to come | US & Canada News | Al Jazeera
Vacancy: Prices at NY hotels down $200 with more pain to come
More than 200 of New York’s roughly 700 hotels are closed, at least temporarily.
Americans Working From Home Face Internet Usage Limits – WSJ
https://www.wsj.com/articles/americans-working-from-home-face-internet-usage-limits-11603638000
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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
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“This is absolutely massive. I have more data to share tomorrow as well so stay tuned. What do you think [about] the implications of a failure of many retail and commercial establishments?”
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More than $700 trillion in derivatives. How much can fail before world goes into a tailspin?