Posted on 10/27/2020 10:30:23 AM PDT by Vendome
We knew it was a bad time for commercial real estate. We didn't imagine it was this bad.
Among CEOs, 76% told Fortune their company will need less office space in the future. And 28% say they'll need a lot less office space. That's the finding from a Fortune survey of 171 CEOs in collaboration with Deloitte between September 23 to 30.*
(Excerpt) Read more at fortune.com ...
The bankruptcies will go on for years as the courts will not be able to handle the load...
Your office, not theirs.
Downtowns all over the country just excreted a brick.
Every day I pass a large parking lot that belongs to a local volunteer fire department. It has several hundred spaces and sits right next to a light rail stop for the train that goes downtown. They sell permits for all-day parking and it was always PACKED.
Since COVID hit you’re lucky to see 10 cars parked there.
It is not generating any revenue for them so they’ve put the lot up for sale.
Once it’s sold and something gets built there the parking is gone forever.
There is no reverse button on this.
The majority of CEO will change their mind. They only look for the next quarter.
It’s trendy now.
Wait until some CEO wants to talk face to face with someone NOW.
Back to the offices with you.
This will enable American businesses to operate much more efficiently in the future. Office space is hugely expensive and a lot of businesses really don’t need it. Operating more efficiently protects American businesses from foreign competition and helps them grow stronger. For workers, it enables new flexibility, zero commute time, more time with family, and more focus on the quality of the work rather than simply who sucks up to the boss best.
Yep. I LOVE working from home as do several of my colleagues. Office space is expensive. Companies now realize they don’t need to bear this expense and their employees will be happier.
This won’t just affect office space. Entire cities will take a huge hit - especially expensive ones like NY and San Francisco. If you can do the job from Dubuque Iowa, why put up with the expense, the pollution, the crime, the taxes, the oppressive laws, etc?
My biggest concern is that I have had a seperate office for 20 years and have accumulated a lot of books, paperwork, etc. There is no way any of that is coming home with me so fire up the shredder boys! there goes the history and lessons learned of all the stuff I ever worked on!
Our senior leadership recently sent out an email stating that face to face collaboration (in person, not by video) is one of the pillars of our success. Pretty clear messaging that as soon as we can return to work we WILL return to work.
the same downtowns that all across the country are subjected to rampant homelessness and looting rioters.
Human nature is human nature.
A video beat down isn’t as nearly satisfying as an in person beat down.
I personally like to come in to the office, but the amount of empty desks here tells me most folks prefer to work from home.
I was working remote for a few years prior to COVID, and will be the first to admit that there were some situations and circumstances that would have been resolved more easily/efficiently in person. Post-COVID, I think the remote work force has been able to sustain largely because most people have been working with others they already know from the office, and because they all view their remote circumstances as being temporary with a view to returning to the office at some point.
My personal observation is that while it's not impossible, integrating new people into an organization is more difficult without meeting in person and I think it remains to be seen how organizational cohesion is built and sustained as the workforce experiences diminishing degrees of in-person contact.
I think too many in senior management are going to look at remote productivity and conclude they can eliminate office space, but that conclusion will be based on a remote workforce that already knew each other, not on a future remote workforce that has never worked together in person.
Um, that’s what a high speed document scanner is for. Convert all those to digital, be done with it.
Video beat downs are recordable by the employee. That’s a plus for the employee.
I'll just throw 'em out.
Yup. This is going to severely affect every single large city in the nation, leading with NYC.
Er... high speed document scanners have been a personal desktop device for about 15 years now. No print shop required and they’re highly useful in many situations. Many companies doing remote work will authorize the expense.
30 pages per minute Fujitsu:
https://www.amazon.com/Fujitsu-ScanSnap-iX1500-Document-Scanner/dp/B07J3DB57C
35 pages per minute Epson:
https://www.amazon.com/Epson-WorkForce-ES-400-Document-Scanner/dp/B01M4NANZ6/ref=sr_1_1?dchild=1&keywords=ES400&qid=1603826138&s=electronics&sr=1-1
Oh, and while we’re at it, is now when we tell you about the technical developments known as the “smartphone,” “wireless networking,” and “running water?” You seem to be quite behind the times...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.