[BobNJ1960]

Originally Posted by SteveM85

You mean like insurance, submarines, helicopters, and all the corps and commuters in FFC.

What else would you like to see?

Job growth, in sectors like manufacturing. Much of Service was crushed like a bug by covid. Most manufacturing was affected far, far less.

[BobNJ1960]

Originally Posted by Shartnado42

Malls are dying out, I agree that it's not a wise choice, especially in the covid climate where a resurgence could doom a lot of these places. Many people feel more comfortable purchasing online.

True, and I think we are witnessing the fear holding in many sectors where a ton of folks gather, such as airlines, hotels, restaurants, etc.

Bars are closed in most states, and are the backbone of restaurant profits in many cases, which may further crush restaurants economically.

[SteveM85]

Originally Posted by BobNJ1960

Job growth, in sectors like manufacturing. Much of Service was crushed like a bug by covid. Most manufacturing was affected far, far less.

I believe CT is still manufacturing helicopters and submarines. Orders are through the roof. Billions in revenue. Tons of jobs.
FFC personnel are collecting direct deposits hand over fist WFH, saving thousands on gas, commuting. Theyr'e spending tons dining out downing drinks from the bar like water. Outside and inside.

Yes, the service industry has suffered state, country, and rest of world.

Only a vaccine and time will determine the return to normalcy. Not some knucklehead writing an opinion piece on the internet.

[JayCT]

Originally Posted by BobNJ1960

Excellent read, and I do think Ct gets hit by the fallout. Simply put, long-term being near NYC is not an asset anymore.

Ct needs to build an economy 100% independent of anything other than Connecticut.

I do not think it is quite as dire in the long term as it was portrayed in that article. I think that once there is a vaccine you will see some return to the office because of teambuilding. It’s pretty hard to operate as a team when you’ve never met the team in person.

Already before the crisis some of the leading tech companies were limiting or eliminating work from home options because of that. I think you will see companies begin to require coming in a couple days a week and even being able to get to the office in a set time. It’s pretty hard to do that from Nashville or South Florida but it’s certainly possible from the outer suburbs of the city. Seems logical to me. Jay

[BobNJ1960]

Originally Posted by JayCT

I do not think it is quite as dire in the long term as it was portrayed in that article. I think that once there is a vaccine you will see some return to the office because of teambuilding. It’s pretty hard to operate as a team when you’ve never met the team in person.

. Jay

Doubt it. Business orgs in NY have surveyed employers. Only 40% assume any office attendance in 2021, even on a sporadic basis. Many corps gave leases up. J P Morgan Chase was even revising lease renewals over it, and they lease the sq footage equal to all Stamford in NYC. Ct has seen the same, as several large employers at Merritt 7 shifted to a permanent wfh.

I rode Metro North a few weeks ago 2 days, will do this week once. It was no more than 25% its former occupancy, despite a reduced schedule of trains. The city was eerily dead.

We are witnessing a permanent shift in wfh vs in office that will crush many cities, but none will be affected more than NYC.

Metro North, btw, is forecasting a $16 Billion dollar deficit.

[SteveM85]

Originally Posted by BobNJ1960

Doubt it. Business orgs in NY have surveyed employers. Only 40% assume any office attendance in 2021, even on a sporadic basis. Many corps gave leases up. J P Morgan Chase was even revising lease renewals over it, and they lease the sq footage equal to all Stamford in NYC. Ct has seen the same, as several large employers at Merritt 7 shifted to a permanent wfh.

I rode Metro North a few weeks ago 2 days, will do this week once. It was no more than 25% its former occupancy, despite a reduced schedule of trains. The city was eerily dead.

We are witnessing a permanent shift in wfh vs in office that will crush many cities, but none will be affected more than NYC.

Metro North, btw, is forecasting a $16 Billion dollar deficit.

Sounds like wishful thinking. Who knows. Only a vaccine and time will tell.
Tech and only tech is going to be the ultimate undoing of the corp office and a long list of other things.

It's well known Metro North and similar are struggling.

Who shifted to permanent at Merritt 7?

[BobNJ1960]

Originally Posted by SteveM85

Sounds like wishful thinking. Who knows. Only a vaccine and time will tell.
Tech and only tech is going to be the ultimate undoing of the corp office and a long list of other things.

It's well known Metro North and similar are struggling.

Who shifted to permanent at Merritt 7?

Later today, I'll try to find article I read regarding Merritt 7. It was months ago.

[Shartnado42]

Originally Posted by BobNJ1960

Doubt it. Business orgs in NY have surveyed employers. Only 40% assume any office attendance in 2021, even on a sporadic basis. Many corps gave leases up. J P Morgan Chase was even revising lease renewals over it, and they lease the sq footage equal to all Stamford in NYC. Ct has seen the same, as several large employers at Merritt 7 shifted to a permanent wfh.

I rode Metro North a few weeks ago 2 days, will do this week once. It was no more than 25% its former occupancy, despite a reduced schedule of trains. The city was eerily dead.

We are witnessing a permanent shift in wfh vs in office that will crush many cities, but none will be affected more than NYC.

Metro North, btw, is forecasting a $16 Billion dollar deficit.

Yeah if anything tech companies will continue to push Permanent WFH. If anything the pandemic has been the big test run to see how it would go. My company is WFH till at least next September. We are also starting to hire roles that will be entirely remote, meaning they'll never have to be in the office if/when we come back. A few big tech companies have now given employees the options to permanently work from home as well. If a company can cut a ton of costs in expensive leases and office perks by either downsizing the office or just having a vast majority of their employees were remotely, I think they'll do it.

[synchem]

Speaking of Malls I had read this earlier this month.
https://www.wsj.com/articles/amazon-...rs-11596992863

How Amazon may look to buy the empty Sears and JC Penny spaces in Malls to act as smaller distribution centers for quicker delivery to certain areas.

[BobNJ1960]

Originally Posted by Shartnado42

Yeah if anything tech companies will continue to push Permanent WFH. If anything the pandemic has been the big test run to see how it would go. My company is WFH till at least next September. We are also starting to hire roles that will be entirely remote, meaning they'll never have to be in the office if/when we come back. A few big tech companies have now given employees the options to permanently work from home as well. If a company can cut a ton of costs in expensive leases and office perks by either downsizing the office or just having a vast majority of their employees were remotely, I think they'll do it.

Its prudent, as location is often a big factor in seeking new employment, so corps allowing wfh on an ongoing basis should see less voluntary attrition long-term.