Here's what we are reading this morning:
Office Occupancy Sputtered in August as Delta Variant Foiled Return-to-Work Hopes - WSJ: The rise in Covid-19 cases upended calculations that office towers would fill up after Labor Day.
In Silicon Valley, Criminal Prosecutors See No Evil - The New York Times: The Elizabeth Holmes fraud trial is set to be a major spectacle, but tech executives generally get a pass when it comes to wrongdoing.
Remarkable Retail: Do Department Stores Have a Future? (Part 1) w/ Simeon Siegel and Ethan Chernovsky on Apple Podcasts: This week we go deep on the future of department stores with Simeon Siegel, senior retail & ecommerce analyst at BMO Capital Markets and Ethan Chernovsky, VP of marketing at Placer.ai.
Delphi's salaried workers fighting for full pensions 12 years later: Delphi's salaried workers saw their pensions go unfunded 12 years ago while union workers were saved. They're still fighting to get them restored.
K&L Gates Nabs Bankruptcy Pro From His Own Firm - Law360: K&L Gates LLP expanded its bankruptcy practice in Houston with the addition of an attorney who was a name partner at the firm Kilmer Crosby & Quadros PLLC.
Retail Brands Gear Up For Second ‘Shippageddon’: Many of supply chain issues from 2020 have not been resolved, and there are new hazards to deal with. Here are the factors driving a 2021 Shippageddon, and how retailers and brands are responding.
Supply chain, delta variant challenge Joann in Q2 | Retail Dive: Comps sales fell 29.9%, though they were up by 8.1% from 2019, according to a company press release
The Housing Boom and the Decline in Mortgage Rates – Liberty Street Economics New York Fed: During the pandemic, national home values and housing activity soared as mortgage rates declined to historic lows. Under the canonical “user cost” house price model, home values are held to be very sensitive to interest rates, especially at low interest rate levels.
HNA-Backed Plane Lessor Issues New Debt to Pay for Old Interest: Global Aircraft Leasing Co. Ltd., a unit of debt-laden Chinese conglomerate HNA Group Co., is selling new debt to pay off interest on bonds it sold before the pandemic upended the aviation market.
Washington Prime Group Announces Intention to Voluntarily Delist Common and Preferred Stock from the NYSE: On or about September 20, 2021, the Company intends to file a Notification of Removal from Listing on Form 25 with the U.S. Securities and Exchange Commission, and it is expected that the last day of trading of the Common Stock and Preferred Stock on the NYSE will be on or about Thursday, September 29, 2021.