The Wall Street Journal's Katy McLaughlin explains how COVID-19 changed the way a developer is building his projects. She writes: Someday, years from now, a resident will wake up in their luxury condominium at developer Gregg Covin’s The Cedars Lodge & Spa in Hendersonville, N.C. They’ll make breakfast on the island in their big kitchen and sit on their heated balcony. They’ll walk out of their private entrance and use an elevator that serves only three other units. They’ll work out in a series of small exercise rooms and gather with friends at a restaurant in a glass … [Read more...]
Working Remotely Is Here to Stay
At The Wall Street Journal, Robert Sutton tells employees and employers, working from home is here to stay. He writes: It was mid-June, three months after the Covid-19 crisis had forced the top executives in a fast-growing tech startup to leave their offices and work from home. Executives had believed this “work from home thing” would last a few weeks, one of the company’s vice presidents told me, so they treated it like a brief emergency that required all hands on deck, all the time. It was only when the vice president sent an email at midnight and got detailed comments from two … [Read more...]
Food Companies Struggle to Keep up with Demand
Shifts in food supply and demand resulting from COVID-19 shutdowns have caused food companies to fall behind, creating shortages at stores. The Wall Street Journal reports: Grocers are having trouble staying stocked with goods from flour to soups as climbing coronavirus case numbers and continued lockdowns pressure production and bolster customer demand. Manufacturers including General Mills Inc., Campbell Soup Co. and Conagra Brands Inc. say they are pumping out food as fast as they can, but can’t replenish inventories. Popular items such as flour, canned soup, pasta and rice remain in … [Read more...]
Walgreens Fights Online Pharmacy Rivals with In-store Doctors Offices
Sharon Terlep explains the latest efforts by Walgreens to become a healthcare provider by adding doctors offices to its pharmacies. She writes in the WSJ: The largest U.S. drugstore chain by stores is pairing with primary-care provider VillageMD to open 500 to 700 clinics at Walgreens sites across the country over the next five years. Walgreens will pay VillageMD $1 billion in equity and debt over the next three years in exchange for a 30% stake in the Chicago-based startup by the end of that term. Walgreens and rival CVS Health Corp. are in a race to become go-to treatment centers, … [Read more...]
Happy Independence Day
In a 3 July 1776, Founding Father John Adams wrote a letter to his wife, Abigail: "I am apt to believe that it will be celebrated, by succeeding Generations, as the great anniversary Festival. It ought to be commemorated, as the Day of Deliverance by solemn Acts of Devotion to God Almighty. It ought to be solemnized with Pomp and Parade, with Shews, Games, Sports, Guns, Bells, Bonfires and Illuminations from one End of this Continent to the other from this Time forward forever more. You will think me transported with Enthusiasm but I am not. -- I am well aware of the Toil and Blood and … [Read more...]
Record Increase in Pending Home Sales
The National Association of Realtors reported a record rise in pending home sales in May, with 44.3% growth. They write: Pending home sales mounted a record comeback in May, seeing encouraging contract activity after two previous months of declines brought on by the coronavirus pandemic, according to the National Association of Realtors®. Every major region recorded an increase in month-over-month pending home sales transactions, while the South also experienced a year-over-year increase in pending transactions. The Pending Home Sales Index … [Read more...]
Qualcomm Sets the Standards in Wireless Tech
Rich Karlgaard interviews Qualcomm president, Cristiano Amon at Forbes. Here is a small part of their exchange: Rich Karlgaard: Joining me today for Talking With Tech Leaders, is Cristiano Amon, the president of Qualcomm. Now when I think of Qualcomm (QCOM), I think of it as a semiconductor company (with approx. $25 billion in sales and a $100 billion market cap). In fact, today’s guest runs the semiconductor operations for Qualcomm among his many roles. Others think of Qualcomm as a communications company, and more recently, as a 5G global leader. Cristiano, what is Qualcomm? Cristiano … [Read more...]
Report: Major Oil Demand Rebound Readies for 2021
David Hodari reports for The Wall Street Journal that a major oil demand rebound is readying for 2021. He writes: The coronavirus pandemic will hammer global growth and oil demand this year, but supply cuts from producers and a record rebound in demand next year will help to rebalance the oil market, the International Energy Agency said. In its monthly oil-market report Tuesday, the IEA said that while the world’s demand for crude will drop by 8.1 million barrels a day this year—slightly less than forecast in last month’s report—demand in 2021 will rebound by a record 5.7 million barrels a … [Read more...]
COVID-19 Traffic Jams Are Killing Africa’s Truck-based Economy
Nicholas Bariyo reports that traffic jams caused by COVID-19 testing regimes for truckers have increased hauling times for truckers to four times their normal length. He writes: In East Africa, curbs on the movement of truckers could pummel some of the continent’s fastest-growing economies. Rail links across the region are few and often outdated, meaning that everything from gasoline to minerals, foods or building materials is transported by road. Ugandan President Yoweri Museveni has called demands from citizens to close the country’s border to truck traffic suicidal. “We need that … [Read more...]
Americans Don’t Want Chinese Jeans Anymore
Sourcing Journal reports on the deep dive in imports of denim from China, and on which countries are picking up the business. Arthur Friedman writes: Imports from China declined a staggering 67.54 percent year to date through April to $74.3 million, bringing the once-dominant country down to a third-place, 15.55 percent market share after a 41.88 percent decline over the 12 months. Imports from China have been in a long-term downward spiral since the trade war with the U.S. brought on significant tariffs and uncertainty, and caused many companies to shift production out of the … [Read more...]
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