- Climate Change Could Worsen Supply Chain Turmoil “Chinese factories were shuttered again in late August, a frequent occurrence in a country that has imposed intermittent lockdowns to fight the coronavirus. But this time, the culprit was not the pandemic. Instead, a record-setting drought crippled economic activity across southwestern China, freezing international supply chains for automobiles, electronics and other goods that have been routinely disrupted over the past three years. Such interruptions could soon become more frequent for companies that source parts and products from around the world as climate change, and the extreme weather events that accompany it, continue to disrupt the global delivery system for goods in highly unpredictable ways, economists and trade experts warn.” (The New York Times)
- How Are CRE Diversity Promises Holding Up? “By now it’s old news: When it comes to diversity, commercial real estate is lagging behind. Less dated than the industry’s homogeneity, however, is CRE’s widespread commitment to diversity, equity and inclusion (DEI) programs, promises and personnel. White men have historically dominated all facets of real estate, and the industry has begun to self-assess with greater vigor.” (Commercial Observer)
- NMHC Names New Chief “Sharon Wilson Géno, a longtime multifamily executive, will succeed Doug Bibby as president of the National Multifamily Housing Council, the organization announced on Wednesday. The appointment will take effect at NMHC’s annual meeting in January 2023. Wilson Géno will join NMHC from Volunteers of America, where she has served as CEO & executive vice president for national services since September 2017.” (Multi-Housing News)
- Profile of Industrial Megalandlord Hamid Moghadam of Prologis “A look at the life and career of Prologis CEO Hamid Moghadam, who's steering his firm through a pullback from e-commerce giants.” (The Real Deal)
- French Department Store Printemps to Open in New York’s One Wall Street “French department store Printemps is once again setting its sights overseas. After ditching plans to open its first international branch in Milan due to the coronavirus pandemic, the retailer revealed on Wednesday it will set up shop in New York City as it reboots its global expansion strategy.” (Women’s Wear Daily)
- American Cities Have to Find Ways to Keep Themselves from Drowning “When it comes to the climate crisis, we hear a lot about water. There’s not enough of it out West (or, for that matter, in China), while there is often too much of it in other places. 2019 saw historically destructive floods in the Midwest, and that same year Esquire took a look at extreme precipitation events—and the flash floods that follow—in New York City. Nothing much has changed.” (Esquire)
- Amazon CEO Says the Company Has No Plans to Make its Corporate Employees Return to the Office “Amazon CEO Andy Jassy said on Wednesday that the e-commerce giant doesn't plan on making its corporate employees return to the office via a company-wide mandate. ‘We don't have a plan to require people to come back,’ he said in an onstage interview at Vox Media's Code Conference in Los Angeles, per CNBC. ‘We don't right now. We're going to proceed adaptively as we learn.’ Jassy noted that most Amazon corporate employees are working on a hybrid work schedule and that certain sections of the company, like its hardware and creative teams, are in the office more often, per CNBC.” (Insider)
- Investing in Existing Real Estate Properties vs. New Ground-Up Construction “There are plenty of pros when it comes to investing in a new ground up construction build. The investor/builder may have their own vision for a property they’ve always wanted to build and a ground up construction loan can allow them to fulfill that. Ground up construction allows a builder much more freedom with the clean slate of a new property rather than rehabbing a property that is already in place and just needs a few repairs. This room for creativity is appealing to investors because the house can turn out exactly how they want it to.” (Mortgage Professional)
- The Reality of Legal Weed in California: Huge Illegal Grows, Violence, Worker Exploitation and Deaths “Illegal cannabis farms are engulfing parts of California and exploiting farm workers who work in squalid, deadly conditions, a Times investigation finds.” (Los Angeles Times)
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