President Joseph Biden

[chancellor]

Isn't a big part of the housing market related to WFH which really isn't going away?

It's a contributor, for sure. How much WFH sticks, though...I'm not as optimistic as you with influential companies like Apple and Google bringing workers back to the office to a much larger degree than I expected.

[Ken]

It's a contributor, for sure. How much WFH sticks, though...I'm not as optimistic as you with influential companies like Apple and Google bringing workers back to the office to a much larger degree than I expected.

It sticking everywhere I've looked. Why do these companies want to pay for commercial real estate when they can just choose *not* to now? I've talked to numerous colleagues whose small to medium sized businesses have downsized their officespace.

[TranaGreg]

It sticking everywhere I've looked. Why do these companies want to pay for commercial real estate when they can just choose *not* to now? I've talked to numerous colleagues whose small to medium sized businesses have downsized their officespace.

my observation - you can run operations in a WFH model, but something is lost in the creative brainstorming that can happen when people get together in a room. I can see a hybrid developing - 2 days in the office, 3 at home - but I think most companies will want to have the ability to bring people together.

[Ken]

my observation - you can run operations in a WFH model, but something is lost in the creative brainstorming that can happen when people get together in a room. I can see a hybrid developing - 2 days in the office, 3 at home - but I think most companies will want to have the ability to bring people together.

You are right, and it varies across different job markets.

IT is heading 90%+ virtual.

Other collaborative groups certainly need more face to face time.

I've seen some creative reallocations of workspace. A friend of mine works for a retail distributer and they went from 3 office buildings to 1, however they just have 1/3 of the office come in each day. Employees no longer have their own personal desk, they share from day to day.

[umjewman]

The NYC office for my firm just moved to a smaller space. I am WFH permanently (or at least for the foreseeable future), as I do not have an office or a desk at the new place (although I'm reasonably certain I still work there). Once courts reopen and we start having depositions in person, I will have to go to that, but I will come home to do non-appearance work.

[chancellor]

It sticking everywhere I've looked. Why do these companies want to pay for commercial real estate when they can just choose *not* to now? I've talked to numerous colleagues whose small to medium sized businesses have downsized their officespace.

I've seen many do the same. However, I certainly didn't expect trend setters like Apple and Google to do what they did, with Apple being the most strident.

[Bene Futuis]

The NYC office for my firm just moved to a smaller space. I am WFH permanently (or at least for the foreseeable future), as I do not have an office or a desk at the new place (although I'm reasonably certain I still work there). Once courts reopen and we start having depositions in person, I will have to go to that, but I will come home to do non-appearance work.

You're going to join a Zoom meeting one of these days and see your entire firm hanging out, partying at the office and think to yourself, "Oh, shit! Maybe it's just me!"

But yeah, the entire legal profession has pretty much gone remote. It's awesome. I hope we never go back to in-person requirements for the stupid procedural hearings and whatnot.

[Ken]

I've seen many do the same. However, I certainly didn't expect trend setters like Apple and Google to do what they did, with Apple being the most strident.

Google is having 20% of its staff move to permanent WFH.

[revo]

Inflation is my biggest worry, by far. The industrial metals markets - steel, structural steel, stainless, copper, and aluminum - have exploded. Domestic shipping costs have jumped 30% in a year; overseas container shipping is at a fever pitch. Lumber and building products are up staggering sums. I still use a labor index an old friend of mine created for P&G called SWAT - Steelworkers, Welders, Assembly Workers, Truckers - and it's hog wild right now. Amazon has increased starting wages to $17-20/hour, depending on location.



The investment company angle is another that has me concerned about inflation. Locally, we're seeing these companies buy up properties at 10-20% over market.

Lumber futures are down 40% since May 10. I hope you bought puts!

[chancellor]

Lumber futures are down 40% since May 10. I hope you bought puts!

I’m not that bold, though I may be contacting you soon for more education on options.

[madducks]

Champ, the Biden's 13 year-old German Shepard, passed away today. RIP.

That may explain the two biting incidents earlier this year at the White House if he was sick and irritable.

[revo]

Biden agreed to the bipartisan Senate commitee's agreement on an infrastructure deal.

#ThanksJoe
#PromiseKeeper

[revo]

"Unemployment is shrinking. The stock market is booming. Americans are returning to the skies and even to movie theaters. And yet Republicans are deeply worried about the state of the economy.

Even though the US economy is expected to grow this year at the fastest pace in decades, consumer sentiment among self-identified Republicans is worse today than during the height of the pandemic, according to the University of Michigan.
In fact, Republicans are more pessimistic than at any point since September 2010, when the economy was just beginning to dig out of the Great Recession."

https://www.cnn.com/2021/06/29/economy/consumer-confidence-republican-democrat/index.html

[chancellor]

"Unemployment is shrinking. The stock market is booming. Americans are returning to the skies and even to movie theaters. And yet Republicans are deeply worried about the state of the economy.

In the same article:

At the same time, the reopening of the economy has created supply chain bottlenecks and shortages, pushing up inflation to levels not seen in decades.

Inflation = economic pain, especially for those of limited means and/or on fixed incomes.

[revo]

In the same article:

Inflation = economic pain, especially for those of limited means and/or on fixed incomes.

Sure. But inflation is short-term while the "booming" economy is longer-term. Paying $3.15 for gas sucks, but it will go down soon. Paying double the price for lumber sucked but as we saw, it was a short-term blip. But getting a better job because of the economy booming is game-changing.

I have friends, both real and Facebooky, who clearly are GOPers and who clearly think the economy is in shambles.