What I’m Reading
Rise of the Machines: Drone delivery companies, often backed by massive ecommerce platforms, have been cleared to expand their operations across the U.S. The technology has become faster and more reliable with development. The big question is whether or not it will result in mass adoption. Wall Street Journal
Zero Tolerance: Chinese exports are expected to drop about 30% in the following weeks amid massive restrictions at ports and on drivers and labor. Freight Waves Welcome to (continuing) logistics hell.
Something Has to Give: The drought in the western US is reaching historic levels with an incredibly light snowpack this winter spurring restrictions on Colorado River water. However, the areas most impacted are also experiencing strong population growth and housing demand, leading to a boom in desert markets like the Phoenix exurbs. CNBC
Staying Power: When COVID first hit, many experts predicted a huge shakeout that would result in a sizable number of quick-service and fast-casual closings, creating thousands of available second-generation locations. However, a combination federal rescue funds and ramped up consumer spending on quick service dining meant that the glut of second generation spaces never really occurred. QSR Magazine
Throwing in the Towel: JP Morgan Chase CEO Jamie Dimon has been a vocal proponent of having workers return to the office over the past couple of years. However, Dimon acknowledged that work from home had become permanent in his annual shareholder letter earlier this week. The bank now expects about half of its employees to work in-person full time, with 40% on a hybrid model and 10% full time at home. The Real Deal Its amazing how much fear of a mass exodus can motivate executives in a tight labor market.
Chart of the Day
Sticker Shock
Source: Len Kiefer
WTF
Frowned Upon: A Southwest Airlines passenger was arrested for masturbating four times and exposing himself to passengers on a flight from Seattle to Phoenix. (h/t Kristen Hogan) Daily Mail I guess famous Hangover line isn’t correct after all.
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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