What I’m Reading
Help Wanted: The construction industry is 2.2 million skilled workers short of what is needed to keep up with demand. Floor Daily I’m sure that a trillion dollars or so of infrastructure spending injected into this environment will have a positive impact……
Taking Control: Amazon has taken to making its own containers and bypassing supply chain chaos with chartered ships and long-haul planes. CNBC
Transformed: Underutilized office assets are increasingly being converted to industrial uses as the imbalance between the two sectors widens. Globe Street
Pinched: Warehouse lease rates are soaring amid incredibly strong demand. It does bear mentioned here that warehousing typically takes up 4% to 6% of a company’s overall logistics costs and is a relatively small cost for operators in percentage terms. Wall Street Journal
Catch 22: Cash is flowing into private equity at an unprecedented rate. However, that same record fundraising makes future returns more challenging to achieve and PE shops are pulling out all the stops to try to engineer returns in any way possible. NY Times
Chart of the Day
The Amazon wage floor is real and its great news for lower income workers.
Source: NBER
WTF
Smoked Out: Home owners in Maryland burned their house to the ground in an effort to smoke out a snake infestation. While the status of the snakes is unknown, it can probably be assumed that they are gone as the home was left in rubble. Eyewitness News
Fire in the Hole: All-time great headline that dropped in the NY Post last weekend – Bomb squad rushes to hospital after WWII-era shell found in man’s rectum. Guy claims that he “slipped and fell” on a WWII-era munition and it went up his ass. Gonna go out on a limb and assume that was not how things actually went down – or up. NY Post
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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