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Dell Sales team told to return to office 5 days a week
(arstechnica.com)
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this post was submitted on 29 Sep 2024
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So for the past 4 years it didn't matter, but now it suddenly does? I smell bs on that real estate reason
During the pandemic they had to choose between go remote or close up shop. They didn’t have much choice.
Seems that once Covid stabilized they’ve been trying to force everyone back.
But that still doesn't matter if they posted profits during that time.
That's because you don't know about how CRE funding works.
Large chunk of CRE runs on short term fixed rate debt, which requires refis. Next big cycle is starting about now and will go through 2026.
So feds lowered interest rate sum, and corpos are pushing us into the office to soften the blow from CRE operators and their creditors.
With that being said, low quality class C office space is in default, no way around it.
Shiti suburban trash offices also will die along with the shiti malls.
However, the return to office policy is specifically to bail out class A and B office towers in the major cities, ie the VIP CRE owned by the real owners and not bagholders
Whether we're in the office or not, they're still paying for the same space.
So how does us going back justify anything?
office valued if it is used. if it is used ,it has value.
Who do you think owns the real estate?