Credit Suisse's new vision for its employees’ work-life balance is the latest example of what’s becoming an all-too-common theme: large employers virtue signaling that they’re now all hip and flexible when it comes to how and where their people work trib.al/cXVlbF3
It’s clear that very few companies have actually committed to new ways of working that can be easily implemented or measured.

Many have pledged to offer more flexibility without specifying who can actually take advantage of it and how frequently trib.al/xrJOC5G Image
The danger is that the new flexible working rules might not be practical for many employees, and companies will have to backtrack on what has been interpreted as a commitment to lots of remote work.

That’s a breeding ground for intra-office dissent trib.al/xrJOC5G Image
Anyone who has spent time in a satellite office knows that much of the real action takes place in HQ.

If you remain a talking head in a Zoom room while others are showing up in person, best of luck earning that next promotion or pay rise trib.al/xrJOC5G Image
There is a lot to commend about a centralized office space — human interaction is what drives commerce.

Creativity, decision-making and innovation all spring from the happenstance as much as the scheduled meeting trib.al/xrJOC5G Image
Morgan Stanley, Goldman Sachs and JPMorgan have chosen to keep it simple:

After July 4, employees are expected to return as before — on time and smartly dressed too trib.al/xrJOC5G Image
Standard Chartered was one of the first to move to a much more convoluted solution — allowing employees the choice of working from home or from the office, for whatever their preferred day(s) of the week.

There can be such a thing as too much choice trib.al/xrJOC5G
You have to spare a thought for the middle-manager class.

It is one thing for those on high to waft indulgences; it’s quite another for line managers responsible for making sure work gets done and teams hang together trib.al/xrJOC5G Image
But some new flexible approaches are smart and could even end up being more productive.

Citigroup's new CEO is offering Zoom-free Fridays and other reasonable flexible working options. This kind of tempered approach might actually stick trib.al/xrJOC5G Image
How quickly will employers adapt and change? And what will the costs of those changes be?

Few will be lucky enough to avoid a commute altogether, but in a curious way, that cold, dark, windswept train platform in February has its charms too trib.al/xrJOC5G

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More from @bopinion

7 Jul
Would you spend $1.3 million on a dilapidated, crumbling house?

Someone already has. In New Zealand, one of the most unaffordable housing markets in the world, quality and price are not obstacles to the property boom trib.al/lFnLdGd
Property markets around the world are running hot in similar ways to New Zealand’s.

128 out of 150 cities saw prices rise year-on-year in the first quarter of 2021, with 43 growing at double-digit rates — more than twice the amount in the previous year trib.al/Bc1xtoH Real-estate prices in 43 cities around the world rose at lea
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6 Jul
Singapore says it wants to back away from strict rules to combat Covid-19 and the curbs on commercial and social life that come with them.

But the reality on the ground shows a lack of conviction
trib.al/3miYoiS
Singapore returned to a lockdown-like state in mid-May. The situation has improved quickly:

🏫 Schools will resume in-person after summer break
🍽️ Larger social gatherings and dining-in are permitted trib.al/ymeOmie
Singapore wants the outward signs of being open for business, but appears unwilling to take risks to get there:

➡️ Showcase events have been shelved
➡️ An air-travel bubble with Hong Kong has gone nowhere trib.al/ymeOmie
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5 Jul
How many times have you said to yourself: “If I could only earn $X, then I’d be happy.”

It raises the question: How much money is enough to truly feel wealthy? trib.al/OLSKdYi
People’s views on wealth have changed during the Covid-19 pandemic.

➡️ In 2020 respondents said $2.6 million was needed to be wealthy
➡️ In 2021, respondents said $1.9 million was needed to be wealthy trib.al/vs5UGZF A picture of coins falling ...
What it takes to feel wealthy is a moving target.

Although it’s wise to think about how to grow your personal wealth, you can spare yourself a lot of anxiety by focusing on how to find contentment trib.al/vs5UGZF Image
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4 Jul
A month after Kristallnacht, @davidjshipley’s father’s family left Berlin for the U.S.

As Jews, their time as Germans had to come to an end, to put it charitably. The family went first to NYC before settling in Oregon, a distant corner of a foreign land bloomberg.com/graphics/2021-…
Their relentless desire to become Americans, to join up with the country that had saved their lives, was brought home to @davidjshipley recently when he stumbled on Julian Shipley’s — his grandfather — study guide for his citizenship exam bloom.bg/2TDbG1o
@davidjshipley It wasn’t until the 1950s that the U.S. put in place a standardized citizenship exam.

Before then, applicants went before a judge, who quizzed them. Trick questions were forbidden, but everything else was fair game bloom.bg/2TDbG1o
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3 Jul
The vacation housing market seems to be cooling off.

The number of mortgage rate locks on second homes increased 48% in May compared with a year earlier. Since last June, the jump had been greater than 80% each month trib.al/uP5egsl
But prospective second-home buyers shouldn't interpret the data as indicative of some big shakeout and a sign to take action

It's likely to remain a seller's market for vacation homes for the foreseeable future trib.al/uP5egsl Image
While some employees will be returning to the office, many will continue to have some flexibility.

And with limited labor available in seasonal towns, it will take even more time to increase the supply of homes than in the rest of the market trib.al/uP5egsl Image
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1 Jul
California’s hydropower reserves are drying up in the most literal sense.

This summer, the fuel that normally stands in for water is also running lower than usual trib.al/UQVzi8s
Natural gas typically fulfills two roles for California’s power grid during the summer:

➡️ It fills in the gap left by depleted hydropower
➡️ It handles much of the state’s surge in electricity demand during the early evening trib.al/13I89vX
The premium on local gas supplies has jumped to its highest level since February.

Power stations in California and Nevada Were also suddenly burning double the amount of gas compared to the previous month as a heatwave washed over the West trib.al/13I89vX
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