Comment by downrightmike
Comment by downrightmike 3 days ago
The internet has allowed remote work for a long time, and in office work was dead walking until the pandemic finally put it in the ground. It needs to stay dead. These local shops don't deserve to lose their business either. if the CBD businesses want to compete, then they need to move. This is a sunk cost. You don't throw good money after bad
I think a big part of this math is avoiding huge balance sheet write downs on unoccupied real estate.
When Amazon was heavily investing in SLU in the 2010's they purchased all of their leased offices from the developer, Paul Allen's company.
It's the GE-ification of Amazon. Financial engineering with little care about employees or customers.