Amazon CEO Andy Jassy warns remote workers: ‘It’s probably not going to work out for you’::Amazon CEO Andy Jassy told employees who defy his edict to return to the office three days a week that “it’s probably not going to work out for you.”
Amazon CEO Andy Jassy warns remote workers: ‘It’s probably not going to work out for you’::Amazon CEO Andy Jassy told employees who defy his edict to return to the office three days a week that “it’s probably not going to work out for you.”
It’s the commercial real estate mortgage backed securities market. If everyone doesn’t pay office rent the collateralized debt of those places goes kaput, the security implodes like 2008 and the banking industry goes under.
These CEOs are all invested. They don’t care about productivity, it’s all about saving their investments.
Aww darn. Thoughts and prayers for the banks and the investors. /s
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It’s not. I really hate it when Marx fans and Rand fans find something in common, and one of such rare things is thinking that preventing big trees from falling is somehow connected to normal economics.
Naturally it’s the other way around, the more painful it is to make such mistakes, the more optimized the market is.
Other than that, gambling on the assumption that regulators are going to save you is the same as cheating, stealing etc.
It’s like the suicide joke again - “more suicide jumpers means fewer suicide jumpers”. Market economy is about evolution. If you impede evolution (say, with preventing somebody from failing or with copyright and patent laws), then it loses its main advantage over anything else.
Maybe they should be better business men and should have foreseen this.
This. I’ve been saying and seeing it since Covid. Offices are half empty. Main street footfall is shrinking. These zones are high premiun rents, owned by REITs and other comercial founds. If they are not occupied and ppl is not consuming on the next door shops, assets value is gone down. More colateral is going to be asked from their lenders. Also, municipalities don’t want to lose population as this can result on less budget from government… Of course they are going to put pressure on their CEO buddies to have spenders back to office.
The loans for all the commercial real estate are also problematic. The banks don’t have liquidity to cover them it’s that simple. Hence the recent downgrade of banks which is a shot over the bow…
Considering that the US has a almost nonexistent social system, the state is actively accelerating the gap between poor and rich by supporting onesidedly.
Which translates to the banking industry learning some lessons and becoming more efficient. Yes, please.
Other than that, some drop in realty prices is welcome.
The only thing they’ll learn is the date their next rubberstamped bailout check from the government is going to come.
Will not happen. Too big to fail, ydda yadda.
Despite the banks not having implement the promised mechanisms to avoid another crash.
Made a bad investment, reap the loss. Free market for you.
Convert to housing. Kill two birds with one stone.