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Tag: office

  • Kevin McCarthy Is a Hostage

    Kevin McCarthy Is a Hostage

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    The speaker’s abrupt impeachment probe against Biden is the latest sign that he’s still fighting for his job.

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    As Kevin McCarthy made his televised declaration earlier today that House Republicans were launching an impeachment inquiry into President Joe Biden, the House speaker stood outside his office in the Capitol, a trio of American flags arrayed behind to lend an air of dignity to such a grave announcement. But McCarthy looked and sounded like a hostage, and for good reason.

    That the Republican majority would eventually try to impeach Biden was never really in doubt. The Atlantic’s Barton Gellman predicted as much nearly a year ago, even before the GOP narrowly ousted Democrats from control in the House. McCarthy characterized the move as “a logistical next step” in the party’s investigation into Biden’s involvement with his son Hunter’s business dealings, which has thus far yielded no evidence of presidential corruption. But intentionally or not, the speaker’s words underscored the inevitability of this effort, which is as much about exacting revenge on behalf of the twice-impeached former President Donald Trump as it is about prosecuting Biden’s alleged misdeeds.

    From the moment that McCarthy won the speakership on the 15th vote, his grip on the gavel has seemed shaky at best. The full list of concessions he made to Republican holdouts to secure the job remains unclear and may be forcing his hand in hidden ways nine months later. The most important of those compromises, however, did become public: At any time, a single member of the House can force a vote that could remove McCarthy as speaker.

    The high point of McCarthy’s year came in June, when the House overwhelmingly approved—although with notably more votes from Democrats than Republicans—the debt-ceiling deal he struck with Biden. That legislation successfully prevented a first-ever U.S. default, but blowback from conservatives has forced McCarthy to renege on the spending provisions of the agreement. House Republicans are advancing bills that appropriate far less money than the June budget accord called for, setting up a clash with both the Democratic-controlled Senate and the White House that could result in a government shutdown either when the fiscal year ends on September 30 or later in the fall.

    GOP hard-liners have also backed McCarthy into a corner on impeachment. The speaker has tried his best to walk a careful line on the question, knowing that to keep his job, he could neither rush into a bid to topple the president nor rule one out. Trump allies like Representatives Marjorie Taylor Greene of Georgia and Matt Gaetz of Florida have been angling to impeach Biden virtually from the moment he took office, while GOP lawmakers who represent districts that Biden won—and on whom the GOP’s thin House advantage depends—have been much cooler to the idea. McCarthy has had to satisfy both wings of the party, but he has been unable to do so without undermining his own position.

    Less than two weeks ago, McCarthy said that he would launch a formal impeachment only with a vote of the full House. As the minority leader in 2019, McCarthy had castigated then-Speaker Nancy Pelosi for initiating an impeachment probe against Trump before holding a vote on the matter. “If we move forward with an impeachment inquiry,” McCarthy told the conservative publication Breitbart, “it would occur through a vote on the floor of the people’s House and not through a declaration by one person.” By this morning, the speaker had reversed himself, unilaterally announcing an impeachment inquiry just as Pelosi did four years ago this month. (McCarthy made no mention of a House vote during his speech, and when reporters in the Capitol asked about it, a spokesperson for the speaker told them no vote was planned.)

    The reason for McCarthy’s flip is plain: He doesn’t have the support to open an impeachment inquiry through a floor vote, but to avoid a revolt from hard-liners, he had to announce an inquiry anyway. Substantively, his declaration means little. House Republicans have more or less been conducting an impeachment inquiry for months; formalizing the process simply means they may be able to subpoena more documents from the president. The effort is all but certain to fail. Whether it will yield enough Republican votes to impeach Biden in the House is far from clear. That it will secure the two-thirds needed to convict the president in the Senate is almost unthinkable.

    McCarthy’s announcement won praise from only some of his Republican critics. Barely an hour later, Gaetz delivered a preplanned speech on the House floor decrying the speaker’s first eight months in office and vowing to force a vote on his removal if McCarthy caves to Democrats during this month’s shutdown fight. He called the speaker’s impeachment announcement “a baby step” delivered in a “rushed and somewhat rattled performance.” A longtime foe of McCarthy’s, Gaetz was one of the final holdouts in the Californian’s bid to become speaker in January, when he forced McCarthy to grovel before acquiescing on the final ballot. “I am here to serve notice, Mr. Speaker,” Gaetz said this afternoon, “that you are out of compliance with the agreement that allowed you to assume this role.”

    If McCarthy has become a hostage of the House hard-liners, then Gaetz is his captor—or, more likely, one of several. Publicly, the speaker has dared Gaetz to try to overthrow him, but caving on impeachment and forsaking a floor vote suggests that he might not be so confident.

    The speaker is as isolated in Washington as he is in his own conference. Senate Republicans have shown no interest in the House’s impeachment push, and they are far more willing to adhere to the terms of the budget deal that McCarthy struck with Biden and avert a government shutdown. Perhaps McCarthy believed that by moving on impeachment now he could buy some room to maneuver on the spending fights to come. But the impetus behind today’s announcement is more likely the same one that has driven nearly all of his decisions as speaker—the desire to wake up tomorrow morning and hold the job at least one more day.

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    Russell Berman

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  • The Work Capsule Wardrobe: 18 Essentials You Need to Look Chic Every Single Day

    The Work Capsule Wardrobe: 18 Essentials You Need to Look Chic Every Single Day

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    After spending the last year and a half working from home, I need some reminders about how to get dressed up again, so I’m relying on an office capsule wardrobe more than ever. In the mornings, I don’t like to spend time thinking about what I’m wearing. Instead of trying on endless outfits, I would rather spend my time sipping a morning latte, catching up on the news, and scrolling through the latest updates on my Instagram feed. To cut back on the time I’m spending deciding on what I’m wearing to the office, I’ve narrowed down my options to some key office essentials to develop an easy work capsule wardrobe. 

    Ahead, see the 18 pieces I rely on for my outfits to wear to the Who What Wear office. I will admit that these are pieces I wear to a fashion-centric work environment (that take the latest trends into mind), so they may not be suitable for every workplace, but you can tailor them to your particular workspace. Go on to see my outfits and shop the workwear staples I can’t live without.

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    Kristen Nichols

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  • The Official Guide to a Smart-Casual Dress Code

    The Official Guide to a Smart-Casual Dress Code

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    Whether you work in a creative office, a brand-new startup, or somewhere in between, there are a lot of casual work environments these days. Combine that to the elusive definition of a smart-casual dress code and you probably find yourself at a loss as to what to wear to work.

    Dressing for the office—no matter what type of environment you’re in—can be tricky. From finding out what types of tops are HR-approved to decoding what casual Friday entails for your office, there are a lot of things to consider. And when you work in a place that has a vague dress code, the task can feel even more overwhelming. Not to worry—that’s where we come in. To make sure you’re dressing the part for an office with a smart-casual dress code, we asked stylist Britt Theodora for her expertise.

    “A smart-casual dress code is an elevation of your ideal day-to-day wardrobe,” she explains. “To turn a go-to jeans-and–T-shirt ensemble into business casual, throw on a black blazer and non-ripped jeans with ballet flats.” Theodora’s other favorite pieces for a smart-casual look involve high-waisted cigarette pants with white button-downs and a comfortable pointed heel. And when in doubt, avoid wearing anything too revealing, such as plunging necklines and short skirts or dresses.

    Now, scroll down to shop for your smart-casual dress code below.

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    Dale Arden Chong

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  • Your Return to Office Strategy is Destined to Fail Without These 4 Steps | Entrepreneur

    Your Return to Office Strategy is Destined to Fail Without These 4 Steps | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The decision on long-term return to office and hybrid work arrangements is no small matter. It’s like choosing between a thrilling roller coaster ride and a serene Ferris wheel experience — there’s no one-size-fits-all solution. As a leader, making the right choice for your organization is crucial, but haste makes waste. That’s why you need a thorough, transparent and evidence-driven process to avoid potential pitfalls and ensure success.

    The perils of impatience: Why rushing is a recipe for disaster

    Imagine throwing a dart at a dartboard, blindfolded, while standing on a skateboard. This is what making a rushed decision on office and hybrid work arrangements looks like. You might hit the bullseye, but chances are, you’ll miss the mark. A hurried decision can lead to a myriad of problems, including undermining retention, recruitment, engagement, productivity, development of junior staff, innovation, collaboration and culture. That’s what I tell the leaders of companies I’m helping determine and implement their return to office and hybrid work arrangements who, in my experience, invariably try to rush the process. An important part of my role is holding them back from making snap judgments and following their gut intuitions, which can lead to a biased decision.

    And even if they make the right decision, but skip the process in doing so, they will lack buy-in from their staff. While making the right decision on long-term return to office and hybrid work arrangements is, of course, essential, securing employee buy-in is critically important. In other words, the right decision-making is necessary, but not sufficient: the perfect policy means little if your employees aren’t onboard. Rushing to judgment and ignoring the voices of your workforce can lead to staff resistance, attrition, disengagement and harm to morale. This is why following the process outlined in this article is crucial.

    Picture your organization as a symphony orchestra. Each employee is a musician, and their buy-in is the harmony that brings the performance to life. Without that harmony, the music is disjointed, and the audience — your clients and stakeholders —will notice. By involving your employees in the decision-making process, you create a sense of ownership and commitment that paves the way for a successful transition.

    For example, a regional insurance company I worked with once rushed into a decision on hybrid work without consulting its employees. The result? A sharp decline in employee morale, a surge in turnover, and a loss of potential talent to competitors. The company was left scrambling to remedy the situation. Don’t let this be you.

    Related: Our Brains Will Never Be The Same Again After Remote Work. Forcing Your Employees To Readapt to The Office Is Not The Answer.

    Surveys and focus groups for information gathering and buy-in

    To avoid the pitfalls of impatience, your organization must embrace a thorough, transparent and evidence-driven process. Picture it as constructing a sturdy bridge to cross the turbulent waters of change. This process involves four essential components.

    Your first step should be conducting a survey of your employees to gather their perspectives on return to office and hybrid work arrangements. It’s like asking a room full of moviegoers whether they prefer popcorn or candy — everyone’s preferences matter. This invaluable data will provide a solid foundation for informed decision-making. And it will help your employees feel heard and listened to, which is an essential part of the process.

    Next, conduct focus groups to dive deeper into the survey findings. This will help you understand the motivations and reasons behind your employees’ responses, and will also build further buy-in.

    Sure, focus groups can be quite a bit of work, and are best done with an external facilitator. However, focus groups will provide valuable information you might not have considered or received from the survey. Case in point, one of my clients — a professional services company with about 100 staff — found that their employees were divided over remote and office-based work. Through focus groups, they discovered that employees with young children preferred remote work for flexibility, while junior staff wanted more office-based work to get mentoring. Understanding these motivations helped the company create tailored solutions for different employee groups.

    While doing the focus groups, make sure to experiment with getting employee feedback on a variety of options you might be considering. That will lay the groundwork for the eventual option you choose, both from having gotten feedback from the focus groups and through the focus group participants spreading the information about the options through the grapevine.

    Yes, of course, the ground rules of the focus groups require employees to keep what happens in the focus group inside the focus group. But let’s be real: In my experience, employees inevitably talk about what happened, especially on matters as important to their daily lives as their long-term hybrid work arrangements. So you might just as well make lemonade out of the lemons of leaked information by getting your staff prepared for whatever option is inevitably chosen.

    C-suite decision-making based on the information gathered

    Third, I present the survey and focus group findings to C-suite executives, followed by one-on-one discussions to gather their perspectives. This provides an opportunity to address questions, explore the impact of the data on decision-making, and evaluate alignment across the leadership team. It also helps develop an agenda and priorities for the last of the components of the process: the decision-making session.

    Fourth and last, arrange an offsite meeting for C-suite executives to review the reports, external benchmarks and data from other companies. Here, they’ll make a well-informed decision on return to office and long-term hybrid work arrangements, and develop a plan to measure success and revise policies as needed.

    Think of this offsite as a gourmet kitchen where your leadership team can cook up the perfect recipe for your organization’s future. This collaborative environment will encourage fruitful discussions and enable the team to weigh the pros and cons of different options based on the collected data and insights.

    A mid-size IT company, grappling with the challenges of transitioning to a hybrid work model, held an executive offsite to analyze the gathered data and external benchmarks. As a result, the company crafted a tailored hybrid work policy that took into account employee preferences, industry standards and company culture. This policy not only improved employee satisfaction but also boosted productivity and collaboration.

    Implementing the plan and overcoming resistance to change

    Once you’ve implemented the chosen policy, remember that Rome wasn’t built in a day. Continually monitor its success, evaluate its effectiveness and adjust as needed. After all, just like a fine wine, the perfect hybrid work policy may require some refining over time.

    I know of a large law firm in a Midwestern city that initially implemented a flexible hybrid work arrangement but soon found that it led to decreased collaboration and mentorship opportunities for junior staff. By closely monitoring the situation, the firm identified the issue and adapted their policy, introducing a mentoring program to ensure more guidance for junior employees.

    Related: Junior Staff Are Struggling to Adjust to Flexible Schedules, But Forced In-Office Mandates Are Not The Answer — This Is.

    Change is often met with resistance, and transitioning to new work arrangements is no exception. All of the previous parts of the process helped gain investment and buy-in, and your staff will be much more likely to accept the decision made, even the ones who don’t like some aspects of the chosen policy. However, you’ll still get some opposition.

    To minimize pushback and foster a smooth transition, open communication is key. Keep your employees informed throughout the process of implementation and give them a platform to voice their concerns.

    For instance, a multinational consumer packaged goods company faced resistance from some employees when transitioning to a flexible hybrid work model. By addressing their concerns through town hall meetings and providing resources to help them adapt, the company was able to win over the large majority of skeptics and ensure a successful transition.

    Ultimately, the success of any work arrangement hinges on considering the human factor. Empathize with your employees’ needs and aspirations, and you’ll be well on your way to creating a harmonious work environment that drives engagement, productivity, and innovation.

    A late-stage biotech startup chose to implement a hybrid work model that prioritized employee well-being and work-life balance. The company’s management demonstrated empathy and understanding, leading to increased employee loyalty, productivity, and retention.

    Conclusion

    When making a decision on long-term return to office and hybrid work arrangements, it’s crucial to embrace a thorough, transparent and evidence-driven process. By following the four-pillar approach outlined in this article, you’ll lay the groundwork for a successful transition that benefits both your employees and your organization. Just remember, like a skilled gardener cultivating a beautiful garden, patience, care, and attention to detail are key to achieving the perfect balance between office and hybrid work arrangements.

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    Gleb Tsipursky

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  • Napier CBD shake-up: Te Whatu Ora to turn large vacant building into office hub to free up space for health service expansion – Medical Marijuana Program Connection

    Napier CBD shake-up: Te Whatu Ora to turn large vacant building into office hub to free up space for health service expansion – Medical Marijuana Program Connection

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    An artist’s impression of a revamped Dalton House (right) and Vautier House (left) in Napier. Photo / Te Whatu Ora Hawke’s Bay

    Well-known buildings on the edge of Napier’s CBD have been sold ahead of a major redevelopment, with new tenant Te Whatu Ora set to move offices in.

    It’s a move it says could allow an

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    MMP News Author

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  • My Friends Are Heading Back to the Office, so I Suggested These Chic Work ‘Fits

    My Friends Are Heading Back to the Office, so I Suggested These Chic Work ‘Fits

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    Fall work outfits are a bit of a relief after the long, humid summer season. You can stop wondering just how much exposed skin is too much and add on all the office-appropriate layers without becoming a sweaty mess in the summer sun. Moral of the story: Office fashion is in its element during fall. That makes right now coincidentally the perfect time to start thinking up some fresh new fall outfits that are sure to impress your colleagues as you trickle back into the office. 

    Since the topic of what to wear is the big question also blowing up my group chats, I figured I’d share my recommendations if you too will be gearing up for a return this fall. Whether you’re in the corporate world or in a creative field, I’m sure you’ll find something here to make the WFH transition a little less painful. Keep scrolling to see 19 work-ready looks that are sure to bring you tons of compliments. 

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    Indya Brown

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  • 15 Casual Work Outfits That Make Office Dressing Feel Downright Effortless

    15 Casual Work Outfits That Make Office Dressing Feel Downright Effortless

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    Let’s be real. There’s nothing worse than staring at a closet full of clothes and feeling like you have nothing to wear. While the world has changed immensely over the past few years, the one thing that remains constant is how overwhelming picking the best business casual outfit for work can be, especially considering the fact that some of us have been working from home for quite some time. But whether you are an essential worker or are just heading back into the office this fall, you can rest assured that your closet woes will soon subside. Ahead, we’ve rounded up 15 casual work outfits that will ensure you look and feel your best on the job. Plus, we’ve shopped out each look just in case your work wardrobe needs a little refresh.

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    Anna LaPlaca

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  • 66 Work-Appropriate Halloween Costumes For the Office

    66 Work-Appropriate Halloween Costumes For the Office

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    There are plenty of ways to make any Halloween costume work appropriate, whether it’s by adding some office-friendly layers or making an easy clothing swap, such as bike shorts for long pants. Depending on your inspiration (pop culture, cartoons, celebrities, etc.), start by considering your team’s dress code, then take the styling details from there — toning down certain elements as you see fit. Especially given how your atmosphere and coworkers might have adjusted since the pandemic, it’s probably best to keep over-the-top accessories to a minimum. But that doesn’t mean you can’t have fun by keeping your outfit sensible and classy.

    Consider a play on Jackie Kennedy, for example, who wore plenty of monochrome skirt suits, pillbox hats, gloves, headscarves, and ’70s-shaped sunglasses, most of which you probably have lying around your closet. Or grab a colleague and be Cher Horowitz and Dionne Davenport from “Clueless.” With the multitude of checked co-ords you can scoop up from popular retailers like ASOS, Zara, and H&M, you’re sure to find something cute to fit the bill, which you can then repurpose later in your everyday wardrobe.

    Finally, if most of your team is not yet back in the office and still calling into the party from Zoom or Hangouts, consider DIYing a headpiece, ears, crown, or hat to be anything from Audrey Hepburn in “Breakfast at Tiffany’s” to a classic cat or mouse with a pair of ears and a simple LBD.

    Ahead, find 66 different costume ideas with simple fashion hacks to prepare you for the upcoming Halloween season.

    Additional reporting by Hilary White, Haley Lyndes, and Lauren Harano

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    Sarah Wasilak

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  • Ghost towers get lease of life, Auckland CBD office vacancies plummet – Medical Marijuana Program Connection

    Ghost towers get lease of life, Auckland CBD office vacancies plummet – Medical Marijuana Program Connection

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    The PwC Tower (left) has a zero vacancy factor. Photo / Michael Craig

    Don’t call them ghost towers any longer because the chief of a billionaire landlord and a research boss have cited rising numbers of workers back in Auckland’s heart.

    On Monday, Precinct Properties chief executive Scott

    Original Author Link click here to read complete story..

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    MMP News Author

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  • Are the robots coming for us? Ask AI.

    Are the robots coming for us? Ask AI.

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    As we enter artificial intelligence’s brave new world, humans have naturally come to fear what the future holds.  Do computers like HAL from 2001: A Space Odyssey pose an existential threat? Or in an incident not from Hollywood fiction, an Air Force official’s recent remarks implying that a drone had autonomously changed course and killed its operator, only to be later declared a hypothetical, certainly raised alarm.

    Closer to home for most of us, the release of large language models like ChatGPT have renewed worries about automation, reminiscent of earlier fears about mechanization. AI has advanced far beyond rote data-storage tasks and can even pass the bar exam, or write news, or research papers, leading to fears of massive white-collar unemployment.

    But, as new research looking at data of job churn over the past two decades finds, the impact of automation on workers and industries is, in fact, pretty hard to predict given the complexity of the labor market, requiring carefully crafted policies that take these nuances into account.

    First, changes in exposure to automation are not intuitive: they do not easily mesh with “blue-collar” and “white-collar” jobs, as typically defined. Instead, automation is more closely linked to the tasks and characteristics of each job, such as repetitiveness and face-to-face interactions. That translates to the three most automation-exposed jobs: office and administrative support, production, and business and financial operations occupations.

    Meanwhile, the three least automation-exposed jobs are in personal care; installation, maintenance and repair occupations; and teaching. In other words, even with the Internet of Things controlling your HVAC system, it cannot fix itself when it needs new refrigerant, but its smart-panel interface can help the technician diagnose the problem remotely quickly and know what equipment to bring for a repair. But back-end accountants in that company may not fare as well in the AI jobs sweepstakes.

    While automation can displace workers, history suggests that new technology also tends to boost productivity and create new jobs. Consider the automobile: while horses and buggies are outdated, we still need humans to drive (at least until autonomous vehicles come to full fruition), and the assembly line helped automate manufacturing with entire new classes of jobs created for every part of a car and all its electronic systems, with almost 1 million U.S. workers in auto manufacturing today.

    But automation has continued in the auto industry over the decades, with robots helping to make hard and heavy physical labor tasks easier, without fully displacing workers.  So there is a push-pull with automation, and the relative sizes of these countervailing effects remains an area of active scholarly debate.

    It is rare for an entire job class to disappear overnight; changes mainly take place over generations

    Second, it is rare for an entire job class to disappear overnight; changes mainly take place over generations. The research shows that newer generations of workers, perhaps deterred by the job insecurity observed in earlier generations and lured by high wages in the technology sector, are less inclined to enter automation-prone jobs than those before them. However, after embarking down those career paths, workers tend to stay in their fields, even if the prospects of automation loom large, likely because reskilling is time-consuming and expensive. It is relatively easy for recent high school graduates to opt for tech-centric college degrees like computer science, but learning new skills like coding is more difficult for mid-career professionals in automation-susceptible fields like manufacturing.

    Adjustments to automation can be slow on the business side as well. Incorporating automated technology takes time because modern production tasks tend to be so intertwined that automating one part of a business can affect all other operations. For example, when AT&T, once the country’s largest firm, began replacing telephone operators with mechanical switchboards, they found that operators had become central to the complex production system that grew around them, which is why there are fewer operators today, but some still exist.

    Third, the research found that the share of workers in highly automation-exposed occupations tends to be clustered, ranging from about 25% to 36% across commuting zones. The least-exposed areas in the U.S. are across the Mountain West, thanks to the area’s high shares of workers in management, retail sales and construction (which hasn’t had much automation or productivity improvement in decades but additive manufacturing may be a game-changer), as well as those on the East and West coasts, with their more innovative finance and tech industries.

    On the other hand, those most exposed to automation tend to be located in the Great Plains and Rust Belt, namely due to agriculture. In spite of the fact that U.S. agriculture has been exposed to automation for over a century (more efficient machines and advances in biotechnology), it has become even more technology-driven recently, making ag workers more likely to be impacted by automation.

    Read: How artificial intelligence can make hiring bias worse

    So will the robots take over your job soon?  More likely, they will make our jobs easier and more efficient. Trying to slow the adoption of technology is both futile and counterproductive: taxing or overregulating tech adoption may backfire, especially given global competitiveness and other countries who may not pause. While the advent of a new era of automation is likely to be both gradually incorporated and result in complements to human labor rather than full replacement, thoughtful policies can help disrupted workers transition to new and better opportunities, ensuring we can harness the transformative power of automation and foster a future of work that benefits all.

    Eric Carlson is associate economist at the Economic Innovation Group; DJ Nordquist is EIG’s executive vice president.

    More: AI is ready to take on menial tasks in the workplace, but don’t sweat robot replacement (just yet)

    Also read: ‘Make friends with this technology’: Yes, AI is coming for your job. Here’s how to prepare.

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  • 4 Factors Impacting Return To Office Trends

    4 Factors Impacting Return To Office Trends

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    There’s no doubt been a change in the way people work post-Covid, and many firms are embracing hybrid schedules. In certain sectors, this shift from remote to in-person has stirred demand for work areas. As WeWork’s Chief Revenue Officer Ben Samuels mentioned in a Yahoo!Finance interview, there’s been a real scramble for space in some of their markets.

    Taking a closer look at these fluctuations, we can identify several factors that are impacting the return to office trends. The level of demand for workplaces is largely dependent on the industry, city, submarket, and building type, based on the findings in my company Avison Young’s State of the Market Q1 2023 report. Let’s review each of these as we consider how some office markets have performed better than others.

    1. Some Industries Have Higher In-Person Work Rates

    In Manhattan, in-person office visits at the end of 2022 were 90.9% of their 2019 levels for biotech, life sciences, pharma and healthcare sectors, per Avison Young’s report. Other industries had strong turnouts as well, with the media reaching an in-person rate of 71.6% compared to pre-pandemic levels, and banking and finance hitting 60.2%. These were all above the average for Manhattan’s overall office visitor showings, which was 55.7% at the end of 2022 relative to end of year 2019.

    That figure has continued to climb in recent months. Visitation rates for all building classes and markets in Manhattan averaged 61% in Quarter 1 2023 compared to pre-pandemic 2019 baseline levels, according to the Real Estate Board of New York (REBNY). With CEOs like Jamie Dimon of JPMorgan & Chase Co calling workers back to the office, it’s possible that in-person rates for certain sectors like banking and finance will increase in the coming months.

    While some industries such as healthcare and real estate lean toward in-person work, others have been slower to return to the office. In Manhattan, the segments of consulting and public relations had lower levels of in-person work during the end of 2022, perhaps due to digital channels and connections. Technology trailed the average rate, with just 47.4% of in-person visits in December of last year relative to 2019 levels, according to Avison Young data.

    2. Cities Have Different Drivers

    Manhattan, Fort Lauderdale, Dallas-Fort Worth, and Nashville all held higher in-person rates at the end of 2022 than the national average relative to the week of December 9, 2019, per Avison Young’s report. Places with lower return-to-office showings included Seattle and Chicago.

    These percentages largely coincide with the labor pool in these areas and the type of work being carried out. In markets with low unemployment rates, companies may seek ways to attract and retain talent. For industries like technology, this could mean more relaxed stances on back-to-work policies. In segments where the unemployment rate rises, employers may be able to be stronger about their expectations on returning to the office.

    3. Submarkets Matter Too

    Within a city, different neighborhoods may lean more heavily into in-person work, while others remain remote. Taking a close lens to Manhattan reveals higher back-to-work percentages for Greenwich Village, Tribeca, and Chelsea, based on data presented by Avison Young. This tells us people want to live and work in these areas and are happy to come into the office. Job growth and neighborhood amenities, along with the type of office environment, will all play a role in submarket office performance.

    4. Higher Quality Office Buildings Perform Well

    Class A+ properties continue to outperform Class B properties, as well as A and A- buildings, according to data from REBNY. In New York City, Trophy and Class A properties have an inventory share of just 10%. However, these classes accounted for 71.8% of leasing activity in 2022. In 2023, their share increased to 73.6%, per Avison Young’s findings. Location visits were up for Class A+, A/A-, B, and C buildings during the first quarter of 2023, compared to 2019 levels, as reported by REBNY. Class A+ had the highest increase at 68%, followed by A/A- with 60%, and then B&C which had 57%.

    Clearly, there’s a strong increase in demand for higher quality buildings. The data reflects a shift by companies looking to upgrade their work environments. ESG-compliant buildings that promote healthy conditions could be seen as a draw, especially in areas with tight labor pools.

    If you’re an investor looking to get into the office market, you’ll have to be very specific about where you want to be and what type of product you buy. As you study a neighborhood, check the industries that operate there, along with the city and submarket drivers. Remember that return to office decisions are largely influenced by the type of building. Owners may opt for higher quality properties with better accommodations, outdoor spaces, and green environments to motivate workers to come back to the office.

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    James Nelson, Contributor

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  • The Most Dangerous Democrat in Iowa

    The Most Dangerous Democrat in Iowa

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    The third graders were not interested in meeting the state auditor.

    It was career day at Samuelson Elementary School in Des Moines, and Rob Sand had assembled a table in the gymnasium alongside a dozen other grown-ups with jobs. All the other adults had brought props: the man from the bathroom-remodeling company handed out yellow rubber ducks, a local doctor let the kids poke and prod a model heart, and an engineer showed off a long, silly-looking tube that had something to do with the mass production of hot dogs.

    Sand had packed only a stack of fliers, and for an hour, the rail-thin auditor stood alone while most of the children gave him a wide berth. At one point, a little girl with braids approached him cautiously: “What’s auditing?” she asked. Sand was excited. “Auditing, well, it’s about finding the truth,” he told her, crouching down. “And it usually has to do with where money’s going or whether people are following the rules.” But the little girl wasn’t listening anymore. She was staring at the hot-dog tube.

    Sand has spent the past two months practically begging people to care about his job. Iowa Republicans passed a bill in March limiting the auditor’s access to information, against the Democrat’s loud objections, and the governor is expected to sign it soon. People on both sides of the political aisle told me that the bill is a blatantly partisan move meant to defang the last remaining Democrat in a statewide elected position. Republicans in Iowa are so determined to crush their opponents, in other words, that they’re going after a man whose office most of their constituents don’t even know exists.

    But as the lone Democrat in state office, Sand is a glimmer of hope for his party in Iowa, where the past several years have brought only defeat after miserable defeat. “They’re trying to clip his wings, but they paid him a compliment,” David Yepsen, a former chief political reporter at the Des Moines Register, told me, referring to Sand’s Republican adversaries. “He’s [got] an early leg up to be the Democratic nominee” for governor.

    Sand’s office in the Capitol building occupies a stately chain of rooms decorated with the heads of dead animals. I gasped when I walked in, suddenly face-to-face with an enormous bison. “North Star Preserve, Montour, Iowa,” Sand said. He pointed at the other trophies mounted on the walls and recited where in Iowa he’d shot them with his compound bow. “Madison County. Madison County. Des Moines city limits.”

    Sand is a Democrat, but he is a Democrat who hunts. Bowhunting may be a genuine passion, but it’s also part of the myth he’s built up around himself: a duty-bound centrist, who will hold everyone in government to account, no matter their party. He wears camo and seed-company hats. He goes to church every Sunday. He went out of his way to appoint a Republican, a Democrat, and an independent to serve on his leadership team in the auditor’s office.

    Sand often says that he hates political parties, and he constantly paraphrases John Adams: “My greatest fear is two great parties united only in their hatred of each other.” Sand registered as a Democrat in 2004 because of his Christian faith’s social gospel, he said; they do “a better job of looking out for those that are on the bottom rungs of society.”

    The auditor is 40 but looks 20. He’s lanky, with eyes that crinkle at the corners and a big forehead. Good-looking in an impish way, and a little preachy aside from the occasional expletive, Sand is part Pete Buttigieg, part youth pastor. Like Buttigieg, he was a young achiever. He grew up in Decorah, Iowa, then moved East to major in political science at Brown University. Somewhat incongruously, given his down-to-earth image today, Sand did some fashion modeling in college, appearing in runway shows in Paris and Milan. Today, he likes to say that he chose the University of Iowa over Harvard Law for his law degree. He worked for seven years under Democratic Attorney General Tom Miller, for whose office Sand successfully prosecuted, in his 30s, the Hot Lotto scandal, in which a man had rigged lottery tickets in five states.

    Sand can sometimes sound self-righteous—his wife’s brothers refer to him as “Baby Jesus.” But the job of auditor requires being a Goody Two-Shoes about the rules—and having a solid backbone. Sand seems to fit that bill. He didn’t drink until he was 22, and he stopped again for more than a decade as part of a commitment to a friend who was struggling with alcoholism. “He’s kind of a square, and he can come across as a little bit arrogant,” a personal friend of Sand’s, who asked for anonymity to speak more candidly, told me. “But he’s a hugely decent person.”

    Sand’s wife, Christine, the CEO of an agri-science business, comes from a wealthy family; her relatives have provided much of the funding for his campaigns. When Sand first ran, in 2018, his bid was notable for its dad humor—and his pledge to “wake up the watchdog,” bringing more action to the auditor’s office and cracking down hard on waste, fraud, and abuse. He did that: During the coronavirus pandemic, Sand’s office discovered that the Republican governor, Kim Reynolds, had misspent federal relief money on two occasions. But he also defended the governor on other occasions: When some residents accused the Iowa Department of Public Health of fudging COVID numbers, Sand’s office reported that the state’s data were accurate.

    Last year was not a good one for Democrats in Iowa. Sand won his reelection campaign by two-tenths of a percentage point; the two other Democrats in state office—the attorney general and the treasurer, each the longest-serving in their office in Iowa history—were knocked out of their seats. Reynolds was heard on tape in the spring of 2022 saying that she wanted her “own” attorney general and “a state auditor that’s not trying to sue me every time they turn around.”

    The governor got the former. Now her party’s working to deliver the latter.

    GOP lawmakers claimed that the new auditor bill was about protecting privacy. But the final version of the legislation prevents Sand from being able to subpoena state agencies for records. Disputes over information would instead be settled by an arbitration panel comprising one representative from Sand’s office, one from the governor’s office, and one from the agency being audited—most likely someone appointed by the governor. Sand would be outnumbered every time.

    The bill was the punctuation mark at the end of the most consequential legislative session Iowans have seen since 1965, Yepsen said, in which Republican lawmakers dutifully passed almost every item on the governor’s wishlist, including bans on gender-affirming care for minors, prohibitions on sexuality and gender discussions in school, and new limits on SNAP and Medicaid eligibility. Republicans have a lock on the legislature now in Iowa, and they’re using it.

    The auditor bill stands out most, though, for its almost comically obvious targeting of Sand. It is, in the phrase of my colleague David A. Graham, another example of “total politics”—a growing phenomenon in which politicians “use every legal tool at their disposal to gain advantage” without regard for democratic norms or long-term effects. We’ve seen similar moves in Tennessee, where Republicans in the state House expelled two Democrats over their gun-violence protests, and in Montana, where GOP lawmakers are trying to rewrite election laws for a single cycle to make it easier to defeat Democratic Senator Jon Tester.

    Well-respected, nonpolitical organizations such as the American Institute of CPAs and the National State Auditors Association have spoken out against the Iowa bill affecting Sand. Even six Republicans in the Iowa statehouse voted against it: “It opens the door to corruption,” one of them, Luana Stoltenberg, who represents the Davenport district and who attended the pro-Trump Stop the Steal protest near the U.S. Capitol on January 6, 2021, told me. “It doesn’t matter who’s in [the office]—that’s wrong.”

    “If Rob Sand were a Republican, would this bill have been introduced, and would it have passed?” Mike Mahaffey, a former chair of the Iowa Republican Party who endorsed Sand in 2022, told me. “I think we all know—or we can plausibly argue—it probably wouldn’t have.” The legislation is shortsighted, he and other Republicans I talked to agreed. “Some of these Republican legislators (and it’s not just Iowa) are acting like they’ll never be in the minority again,” one Iowa GOP strategist, whom I agreed to grant anonymity so they could speak candidly, texted me.

    But for many Democrats, the Republicans’ targeting of Sand seems less about owning the libs than about neutralizing any political threat, however slight. Right now the auditor “is the entire Democratic bench. He’s their main hope,” Sand’s friend told me. “He’s their Luke Skywalker.”

    The Iowa Democrats’ Luke Skywalker drives a white Ford F-150 pickup, because of course he does. Sand picked me up in it last weekend on his way to two events in the conservative southwest corner of the state. Every year, he holds a town hall for each of Iowa’s 100 county seats; auditors don’t normally do that kind of thing. But Sand thinks it’s important for Iowans to hear what his office is up to. Or maybe he feels it’s important for people to know who he is.

    We stopped in Treynor, population 1,032, for what was billed as a bipartisan fundraising event; most attendees were Republicans, and Sand was one of three Democrats invited to speak. When he walked in, people flocked to him with questions. “Oh, Rob,” Shawnna Silvius, the mayor of nearby Red Oak, said. “You’ve really been going through it out there. You’re like a lone swan.” Sand laughed: “I haven’t gotten ‘lone swan’ before.”

    I watched as the auditor mingled for a while, looking fairly comfortable despite the fact that at least two of the lawmakers who’d voted to limit his power were sitting at a nearby table. People were finishing up their pork chops and cheesy potatoes when it was Sand’s turn to speak. He walked up to the podium, and went for it.

    The auditor bill “is a disaster in waiting for this state,” Sand told the room. Everyone was silent. He laid out the changes that the new legislation would make, and the consequences those changes would have. “The purpose of the Office of the Auditor of State is to prevent abuses of power that destroy our trust in our ability to have a system where we govern ourselves,” Sand concluded. “That was a revolutionary idea a little while back. If we want to keep it, we need to maintain those checks and balances.”

    When Sand finished, everyone clapped. A few Republicans came up to ask questions. They had no idea the bill did this, they said. How could they help? Was it too late? Sand wrote down his email and handed out business cards. He urged them all to reach out to the governor, share their concerns, and ask her not to sign the bill. “I didn’t vote for you,” one woman told Sand. “But I would have.”

    When we got back in the truck, I asked Sand what the point of all of it was. Of course Reynolds would sign. Was he possibly that naive? “Even if it’s finished, and the bill is done, this is really fucking important,” Sand said. People “need to know what is going on.” We sat while he thought out loud about whether anyone in that room would actually reach out to the governor, or email him to ask more questions—whether they’d care enough to follow through. “How else do I do this?” he asked me. “What else am I supposed to do?”

    Sand has been making many such speaking visits lately—and posting regularly on Twitter and Instagram—to broadcast his concerns to Iowans. But this moment has also provided an opportunity for Sand to broadcast himself. It’s obvious that he has bigger political ambitions. You can tell, in part, because he’s so eager to market himself. When a New York Times reporter asked him for suggestions of interesting Iowans to profile in 2020, Sand proposed that she write about him. He has taken at least two national reporters with him on hunting trips, just as he invited me along to watch as he stood up for his current cause. When I met Sand last week, he told me he was reading The Man From Ida Grove, the autobiography of Harold Hughes, a former Democratic senator and governor of the state—a little on the nose.

    Sand said he had thought about challenging Reynolds in 2022, but didn’t run because he didn’t want to miss out on time with his two young sons. Left unsaid was the political reality that last year would have been a terrible year to run. Reynolds crushed her Democratic opponent, Deidre DeJear, by nearly 20 points. Sand would probably have done better, but maybe not by much.

    He doesn’t have to decide now. Reynolds isn’t up for reelection until 2026, and by then, she may have decided not to run again—or maybe, if a Republican becomes the next president, she’ll have accepted a federal appointment. If Sand does run, he’ll have some trends in his favor: Most Iowa governors also grew up in small towns and served at least a term in public office. “In the field of Iowa Democrats, he’s the shiny light, and we don’t have a lot of light switches on right now,” Jan Norris, the chair of the Montgomery County Democrats, told me.

    But the broader political current would be pushing against him. For decades, Iowa was purple. Voters here sent Democrat Tom Harkin and Republican Chuck Grassley to the Senate, together, every chance they had. But in 2016, 31 counties that Barack Obama had won twice swung to Donald Trump—more than in any other state in the union. Six years later, Iowa elected an entirely Republican delegation to Congress for the first time in more than 60 years. Sand might have had a good shot at the governor’s mansion in that old version of Iowa. Whether he would in this one is not clear.

    “His fate is tied to the macro picture of what’s going on in the Midwest,” Yepsen, the former reporter, told me. Rural America is getting redder, and that’s a serious problem for Democrats, even one as demonstrably centrist as Sand. “Harry Truman couldn’t get elected anymore in Missouri,” Yepsen said. “George McGovern couldn’t win in South Dakota.”

    Our final stop on the truck tour of southwest Iowa was a church in Red Oak, population 5,362, where Sand gave a quick pep talk to the Montgomery County Democrats. He was casual, calm. He rolled up his sleeves and sat on the edge of a folding table to face them—youth-pastor mode. “Losing sucks—and that is what we have been doing at the top of the ticket for the last 10 years,” Sand acknowledged to the group of mostly older Iowans.

    One man asked what three issues Sand would emphasize if he were in charge of messaging for the Iowa Democratic Party. The auditor bill, Sand replied. People nodded. Plus the private-school vouchers and the way that Republicans are “criminalizing abortion.” The attendees took notes as Sand described an app they could download called MiniVAN that would help them with their door-knocking efforts.

    Sand urged the group of Democrats to have hope. He rattled off some stats: There were more split-ticket voters in Iowa than in any other competitive state in 2022, outside of Vermont. More than 48 percent of Iowans voted for three Democrats for statewide office in November. Iowa Democratic Party Chair Rita Hart lost her race in the Second Congressional District by only six votes in 2020—one of the closest House races in American history. Hearing it all, group members seemed to sit up taller in their chairs, like wilting plants getting a little water.

    “Democrats can win in the state of Iowa,” Sand said. “I’m not a unicorn.” But in Iowa, right now, he sort of is.

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    Elaine Godfrey

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  • Wells Fargo details $500 million upgrade to its Charlotte campus, pickleball included

    Wells Fargo details $500 million upgrade to its Charlotte campus, pickleball included

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    Employees at Wells Fargo’s largest campus, in northeast Charlotte, can already catch a game of ping pong or foosball near a popular dining hall.

    Soon, the more than 10,000 workers that call this campus home during the week also will be able to play some pickleball and volleyball.

    The moves are part of $500 million worth of upgrades planned at the decades-old campus known as the Customer Information Center. Over the next five years, construction crews will update courtyards, remodel bathrooms, enhance walking trails and build a new parking deck.

    The upgrades come as Wells Fargo consolidates its office space in uptown, moving most of its workers out of One and Two Wells Fargo Center and into two other office towers. More upgrades are planned there.

    The major investment in northeast Charlotte was marked with a ceremonial groundbreaking Wednesday morning as Wells Fargo employees lined a courtyard listening to speeches from various executives and Charlotte Mayor Vi Lyles.

    Wells Fargo executives and city leaders including Charlotte Mayor Vi Lyles held a groundbreaking Wednesday morning to mark the start of fives years of upgrades at the Customer Information Center. The center is the bank’s single-largest employment hub with 10,000 employees.
    Wells Fargo executives and city leaders including Charlotte Mayor Vi Lyles held a groundbreaking Wednesday morning to mark the start of fives years of upgrades at the Customer Information Center. The center is the bank’s single-largest employment hub with 10,000 employees. Khadejeh Nikouyeh Knikouyeh@charlotteobserver.com

    “We’re going to have these opportunities to be able to come to work and work really hard for our clients every day,” said Michael Martino, head of the bank’s Wealth Investment Management Contact Center. “We’re also going to have an opportunity to connect and play a little too.”

    Wells Fargo is based in San Francisco but has its largest employment hub in Charlotte, with about 27,000 workers here.

    Here’s are four things to know about Wells Fargo and the planned renovations to the Customer Information Center.

    Wells Fargo plans to upgrade several employee workspaces with new places to gather, get coffee or work in a conference room.
    Wells Fargo plans to upgrade several employee workspaces with new places to gather, get coffee or work in a conference room. Rendering courtesy of Gensler

    Adding more parking

    When it opened in 1996, the 157-acre Customer Information Center was heralded as a modern, state-of-the-art workspace, said Mary Mack, CEO of consumer and small business banking at Wells Fargo.

    But the bank knew the building, off of W.T. Harris Boulevard, needed upgrades. It has 2.1 million square feet of space, making it the bank’s largest employment site across the country, the Observer has reported.

    One major upgrade will be a new parking deck.

    It will be 4 1/2 floors with more than 2,000 spaces and electric vehicle charging stations. The need for additional parking comes as the campus expect to see more growth in the number of employees, said Emily van Zyl, senior lead construction manager for Wells Fargo. Prior to the pandemic, the campus parking decks were around 90% capacity.

    Crews also will build a plaza and walkways to make the short trip to the nearest office building safer, Wells Fargo executives said.

    A parking deck that spans more than 800,000 square feet and 2,000 spaces will be built as part of major upgrades to Wells Fargo’s Customer Information Center in northeast Charlotte.
    A parking deck that spans more than 800,000 square feet and 2,000 spaces will be built as part of major upgrades to Wells Fargo’s Customer Information Center in northeast Charlotte. Rendering courtesy of RS&H

    Amenities on amenities

    Renovation plans include adding 16 break rooms. There will be new food stations and healthcare options too

    Plans also include space for two pickleball courts, a volleyball court and small basketball court. A picnic pavilion will be upgraded with a new sound system and lighting to host group events. There also will be updates to a walking trail that goes around the campus as well as to a courtyard.

    And there will be a demo kitchen in a large gathering space along with new food vendors with healthier food options.

    Updating interior work spaces

    Phase one of the work is already underway. It could wrap up by the end of the year or early 2024, van Zyl said.

    Aside from work on the exterior, crews will be busy updating space inside the center.

    Work will start on three employee work areas that span 40,000 to 60,000 square feet. They will be overhauled with new flooring, lighting and furniture, van Zyl said. There will be new activity rooms with communal seating.

    Future phases include upgrading 18 more employee work areas across the campus.

    An overhaul to Wells Fargo’s Customer Information Center will include 16 new break rooms across the sprawling northeast Charlotte campus.
    An overhaul to Wells Fargo’s Customer Information Center will include 16 new break rooms across the sprawling northeast Charlotte campus. Rendering courtesy of Gensler

    Wells Fargo’s office plans in uptown

    In late January, Wells Fargo announced substantial changes about its office space in uptown.

    The bank is moving employees out of One and Two Wells Fargo Center buildings, The Charlotte Observer previously reported.

    Offices will be consolidated, with workers moving to Three Wells Fargo Center and 550 S. Tryon Street, the former Duke Energy building. Both of those towers will get new names as part of the changes.

    The bank will sell Two Wells Fargo Center, spokesman Josh Dunn confirmed at the time, and the new owner will control naming rights.

    The space that Wells Fargo occupied in One Wells Fargo was already just a small piece of its square footage in uptown, Dunn said, less than 10%. That building will likely get a new name as well when a new tenant moves in.

    The S. Tryon Street tower will effectively become the bank’s new Charlotte headquarters. By the end of this year, Wells Fargo will occupy 95% of the office space at 550 S. Tryon, a memo sent to employees said. The bank already owned the building.

    Wells Fargo also is making major upgrades to its facilities, renovating 21 floors at 550 S. Tryon and 14 floors at Three Wells Fargo Center at 401 S. Tryon St.

    One Wells Fargo Center in uptown. Wells Fargo employees have been moving out of the building as the bank consolidates its office space.
    One Wells Fargo Center in uptown. Wells Fargo employees have been moving out of the building as the bank consolidates its office space. Arthur H. Trickett-Wile atrickett-wile@charlotteobserver

    This story was originally published April 5, 2023, 12:38 PM.

    Related stories from Charlotte Observer

    Gordon Rago covers growth and development for The Charlotte Observer. He previously was a reporter at The Virginian-Pilot in Norfolk, Virginia and began his journalism career in 2013 at the Shoshone News-Press in Idaho.

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  • Wells Fargo moving all workers from 2 uptown Charlotte towers in coming months

    Wells Fargo moving all workers from 2 uptown Charlotte towers in coming months

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    Wells Fargo is making big changes to its Charlotte office spaces — including a move out of the uptown building that’s served as an East Coast hub for the bank and its predecessor for nearly four decades.

    The bank will move employees out of One and Two Wells Fargo Center buildings, according to a memo sent to Charlotte-area employees on Tuesday morning. Wells Fargo declined to say exactly how many workers will be impacted by that move, but it is likely that thousands will be changing offices.

    Offices will be consolidated, with workers moving to Three Wells Fargo Center and 550 S. Tryon Street, the former Duke Energy building. Both of those towers will get new names as part of the changes.

    The bank will sell Two Wells Fargo Center, spokesman Josh Dunn confirmed Tuesday, and the new owner will control the naming rights.

    The space that Wells Fargo occupied in One Wells Fargo was already just a small piece of its square footage in uptown, he said, less than 10%. That building will likely get a new name as well when a new tenant moves in.

    The S. Tryon Street tower will effectively become the bank’s new Charlotte headquarters. By the end of this year, Wells Fargo will occupy 95% of the office space at 550 S. Tryon, the memo said. The bank already owned the building.

    Wells Fargo also is making major upgrades to its facilities, renovating 21 floors at 550 S. Tryon and 14 floors at Three Wells Fargo Center at 401 S. Tryon St.

    “It’s so much easier for our teams to work together when they are together,” said Mary Mack, the bank’s CEO of consumer and small business banking, in an interview Tuesday with The Charlotte Observer. “We want to create the environment where people want to be here.”

    Wells Fargo is based in San Francisco but has its largest employment hub in Charlotte, with about 27,000 workers here.

    CLT_BuildingMugs1_4.JPG
    One Wells Fargo Center as seen on Friday, June 24, 2022 in uptown Charlotte, N.C. Arthur H. Trickett-Wile atrickett-wile@charlotteobserver

    Uptown vacancy rates

    Wells Fargo’s moves impacts more than just the bank’s workers.

    Office vacancy rates in uptown were just under 13% as of late last year, according to data from CoStar Group, a real estate research firm. That’s more than double what they were to start 2020, when rates were 6% in uptown.

    Vacancy rates for the Charlotte market overall were around 11% in late 2022; they stood at about 6.9% in the first quarter of 2020.

    mary mack_02.JPG
    Mary Mack, the bank’s CEO of consumer and small business banking. Diedra Laird dlaird@charlotteobserver.com

    Other Wells Fargo office changes

    In addition to shuffling employees in its uptown buildings, Wells Fargo is also making major upgrades to its Customer Information Center in north Charlotte, close to University City.

    Some 10,000 employees work out of the center, a 157-acre campus off of W.T. Harris Boulevard. It’s the bank’s largest employment site across the country, Mack said.

    The bank is investing hundreds of millions of dollars in the campus over the next several years, adding more work spaces, a new parking deck and a revamped food court.

    About One Wells Fargo Center

    Dubbed the jukebox building for its curved design, One Wells Fargo Center opened in 1988.

    At 42 stories — or about 590 feet — it stood as the tallest building in Charlotte at the time. As many as 3,000 bank employees used to work out of the building, which was developed by Childress Klein for Wells Fargo’s predecessor, First Union.

    The building is under relatively new ownership.

    It was last sold in March 2016 to an LLC affiliated with Nevada businessman Dennis Troesch for $284 million. Tampa-based Vision Properties is the managing and operating entity in the building’s ownership.

    Tuesday’s announcement comes at a time when the jukebox building is undergoing a number of changes.

    That includes a remodeling of the top two floors from bank executive conference rooms to an amenity space for tenants. There will be lounge seating, billiards, conference rooms and terraces for people to enjoy the sweeping views of uptown Charlotte, according to Cushman & Wakefield. The commercial real estate firm is handling leasing in the building.

    The building’s ground-floor lobby also was recently renovated with new furniture. A new coffee shop, Night Swim, opened up inside. The Childress Klein YMCA is located inside the building. Plus, crews have been busy upgrading the outdoor plaza.

    Vision Properties invested $10 million in renovations in 2021.

    As of late last year, One Wells Fargo was 62% leased, according to a fact sheet provided to The Charlotte Observer by Cushman & Wakefield. Asking rents were listed between $38.50 and $42 per square foot.

    Also as of late last year, the average rent for office space in the Charlotte metro area was $32.58 per square foot, according to CoStar. It was $35.76 per square foot in uptown and $43.18 in South End.

    Wells Fargo already had taken steps to shrink its footprint in the uptown tower. In 2020, Wells Fargo was set to vacate more than 500,000 square feet of space in the building over the next year and a half, the Charlotte Business Journal reported at the time.

    On Tuesday, Dunn told the Observer that most Wells Fargo employees had left One Wells Fargo Center two to three years ago.

    About Two Wells Fargo Center

    Originally called Jefferson First Union Tower and later First Union Plaza, the 32-story building was finished in 1971.

    It is one of four office towers that comprise the uptown Wells Fargo Complex. The building has close to 760,000 square feet of space.

    This story was originally published January 31, 2023, 11:00 AM.

    Related stories from Charlotte Observer

    Hannah Lang covers banking, finance and economic equity for The Charlotte Observer. Her work has appeared in The Wall Street Journal, the Triangle Business Journal and the Greensboro News & Record. She studied business journalism at the University of North Carolina at Chapel Hill and grew up in the same town as her alma mater.

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  • I Found 21 Fresh Ways to Wear the Denim Trend That’s Dominating—You’re Welcome

    I Found 21 Fresh Ways to Wear the Denim Trend That’s Dominating—You’re Welcome

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    The next big non–skinny jeans trend is here, and it couldn’t be chicer. While skinny jeans will truly never die, nor do we want them to, we’ve spotted a number of emerging denim trends that are pretty much the antithesis of skinnies. We’ve already mentioned how flares and loose jeans are on the rise, and, well, we’re adding another of these non-skinny styles to the top of our lists: high-rise wide-leg jeans.

    These are full-length jeans with a trouser-like wide leg and a high rise. We know that wide-leg jeans can be intimidating if you’re not used to wearing them already, which is why the high rise is crucial here. It hugs you in all the right places and creates some nice dimension for the overall silhouette. One standout pair defining the trend is the Citizens of Humanity Annina Jeans, a Who What Wear editor favorite.

    To highlight this chic new denim trend, we rounded up the freshest wide-leg jeans outfits that fashion people are wearing now and included our favorite pairs to try out. 

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    Anna LaPlaca

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  • 3 Charlotte-area CEOs’ predictions on office life and the economy for next year

    3 Charlotte-area CEOs’ predictions on office life and the economy for next year

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    Bank of America CEO Brian Moynihan, seen here in a file photo, was among the speakers at the Charlotte Regional Business Alliance’s annual outlook event on Tuesday.

    Bank of America CEO Brian Moynihan, seen here in a file photo, was among the speakers at the Charlotte Regional Business Alliance’s annual outlook event on Tuesday.

    dlaird@charlotteobserver.com

    Businesses in Charlotte and beyond will face a familiar list of economic obstacles in 2023, among them higher prices, crises in Europe and a rapidly evolving workplace.

    That’s according to CEOs of three of the region’s largest companies: Marvin Ellison of Lowe’s, Darius Adamczyk of Honeywell, and Brian Moynihan of Bank of America.

    The chief executives spoke on a panel at the Charlotte Regional Business Alliance’s Annual Outlook Event Tuesday afternoon at the Westin hotel in uptown. Here are four key questions they answered about the year to come.

    What economic challenges lie ahead in 2023?

    Most of the challenges the CEOs described as looming in the new year have already plagued the economy for months.

    Inflation remains one of their top concerns, as do labor shortages and supply chain snags that are affecting many different types of businesses.

    “I’m just kind of looking for a normal year,” Adamczyk said. “We haven’t really had one since 2019. It seems like it’s just one crisis after another.”

    Moynihan pointed to how the Federal Reserve has moved aggressively to respond to inflation, but if interest rates remain high for a longer period, it could pose a more profound challenge for firms. The central bank is expected to approve a seventh consecutive interest rate hike on Wednesday.

    “There’s nobody under the age of 40 in business who’s worked with an interest rate environment (like this),” Moynihan said.

    “For a lot of businesses, it is different,” Adamczyk added. “This is not something that you’ve had to worry about for decades.”

    Who will be hit the hardest?

    Today’s combination of economic challenges is impacting different businesses in different ways, Ellison said. That’s unlike crises in recent history such as the Great Recession, he said, which represented a uniformly severe hit across industries.

    For example: despite a slowing U.S. housing market, Lowe’s has seen a “tailwind” in its retail sales, he said. As U.S. consumers shy away from buying a new place to live, they’re opting to spend on home improvement projects and enhance their current space instead.

    CLT_Business_5536
    Marvin Ellison, CEO of Lowe’s, said on Tuesday that economic challenges in 2023 will likely stop short of a crisis. “I don’t think we’re going to have a massive economic shock.” Khadejeh Nikouyeh Knikouyeh@charlotteobserver.com

    “Most of us still see our homes as a rather valued asset, so our business is still rather robust,” Ellison said. “Yes, this is a tough macro(economic) environment… But in this space, we’re very fortunate in that our retail sector still has a bit of a tailwind.”

    At electronics manufacturer Honeywell, the company’s e-commerce sector has slowed, while aerospace business has soared, Adamczyk said.

    HONEYWELL_CEO_ADAMCZYK_03.jpg
    Darius Adamczyk, Honeywell CEO, said on Tuesday’s panel that the manufacturer’s aerospace business was booming. “Consumers came back faster than anyone could have anticipated.” John D. Simmons jsimmons@charlotteobserver.com

    “That’s been on fire,” he said of the aerospace industry. “Consumers came back (to air travel) faster than anyone could have anticipated.”

    The severity of potential economic distress in 2023 will also vary by geography, Adamczyk said. Challenges may be more profound in Europe, which has faced record increases in the gas prices and a growing energy crisis complicated by conflict in Ukraine.

    Is work from home here to stay?

    In the aftermath of the COVID pandemic, many Charlotte firms have continued to allow their employees to work from home at least part of the time. That includes Bank of America and Honeywell, which have allowed many employees to work remotely up to two days a week.

    “I think three days a week (in the office) is reasonable,” Adamczyk said. “I want to maintain some level of flexibility, but we also want to get back to some level of being collegial.”

    Neither Adamczyk nor Moynihan said their company’s workplace shifts were permanent,

    “I think we’re all still learning about the right way to do this,” Moynihan said. “We’ll see how (our plan) plays out over time.”

    What are some other predictions for 2023?

    Overall, economic challenges will likely make next year tougher than the last, Adamczyk said.

    “I don’t think it’s gonna be as good as it was in 2022. Savings rates are coming down, and have been coming down… Inflation is outpacing wage increases. We have to contain it,” he said. “But I don’t see a meltdown. Far from it.”

    Ellison agreed that another crisis was unlikely. “I don’t think we’re going to have a massive economic shock.”

    Regardless of looming threats, Moynihan stressed that the U.S. economy remains uniquely resilient.

    “The rumors of America having a demise are greatly over-exaggerated,” he said. “We’ll still be talking about inflation this time next year… But we’ll also still be talking about how America is a better place to be than in any place in these times.”

    Related stories from Charlotte Observer

    Hannah Lang covers banking, finance and economic equity for The Charlotte Observer. Her work has appeared in The Wall Street Journal, the Triangle Business Journal and the Greensboro News & Record. She studied business journalism at the University of North Carolina at Chapel Hill and grew up in the same town as her alma mater.

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  • 10 Easy Winter Outfit Ideas to Try at Work (and in Life)

    10 Easy Winter Outfit Ideas to Try at Work (and in Life)

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    Nailing what to wear to work is a challenge during any time of year, but come winter, it’s especially difficult. When temperatures drop, it’s hard to focus on much more than just not freezing like a solid block of ice. So if you find yourself reaching for the same pants and sweater all too often, don’t worry—we’re here to help you out. 

    When you’re armed with a fresh batch of inspiring outfits, power dressing in the cold is quite effortless. You can mix and match trends in a way that feels just right even when it’s 30ºF outside. Below, you’ll find outfit combinations that are easy to throw together come Monday morning. Grab a coffee and your laptop, and you’ll be ready to take on the world. Read on for a rundown of our favorite new work-outfit ideas (designed primarily for more creative office settings), and shop the styles you want to wear to impress your boss.

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    Indya Brown

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  • 9 Affordable Places Women Actually Buy Work Clothes

    9 Affordable Places Women Actually Buy Work Clothes

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    There’s no doubt that the past two years have changed our perception of “office dressing,” with many of us now working from home due to the unprecedented pandemic. Of course, there are still many who have to go to a physical workplace, so with that in mind, (along with the hope that this year brings us back to the workplace safely), we wanted to share some of the best online stores to buy business casual work clothes that are actually affordable (even if they do lean more casual these days).

    At Who What Wear, we’ve found that one of the best resources for a refresh is from our cool and creative readers, which is why we tapped our Who What Wear Insiders Facebook group to get their insight into where to shop for work.

    Below, you’ll find a breakdown from women who work across different industries and encounter dress codes that range from techie relaxed (think jeans and hoodies) to ultra-formal. (We’re looking at you, lawyers.) Armed with the insider shopping knowledge from other women who have been deep in the work-dressing doldrums, you’ll have a little spark to help inspire your Monday-to-Friday dressing. So check out their takes on the best stores for buying work clothes and what to keep an eye out for at each. 

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    Aemilia Madden

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  • To Deliver Seamless Hospitality, Office Owners Go Directly To The Source

    To Deliver Seamless Hospitality, Office Owners Go Directly To The Source

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    Years before the pandemic upended established workplace dynamics, leading property managers predicted the emergence of experiential office. Inspired by hospitality, it was a vision of tenant-first office management aimed at fostering meaningful relationships and rich experiences. The post-pandemic prevalence for hybrid work has quickly made that vision a reality. While some of the details have changed—like a greater emphasis on health and wellness and inclusion—today, the office has become a center for socialization and collaboration, just as expected.

    JLL’s Future of Work 2022 survey illustrates just how much the concept has evolved. More than three-quarters of companies are focused on investing in quality office spaces, and 73% of companies are adopting collaborative open concepts and eschewing dedicated desks. But experiential office is more than a high-quality design. The office is becoming a place to improve employee physical and mental health, support flexible working patterns and drive social value and sustainability initiatives.

    To deliver the space-as-a-service concept, property managers have had to develop new skills beyond operational and financial excellence. More and more, property managers are turning to hospitality professionals who are adept at operating at the intersection of facilities management, services, and customer experience. It’s this expertise that will help property managers curate the experiential office environment that today’s tenants demand.

    Flight to quality drives leasing decisions

    The demand for purposeful office space is evident by the most recent tenant leasing activity. While office leasing has been turbulent since the start of the pandemic, an effect of the widespread adoption of remote work and corporate workplace re-strategizing, new high-quality and amenitized properties have generated nearly 87 million square feet in occupancy gains, the vast majority of office leasing volume. Office product built after 2015 has a 16.5% vacancy rate, compared to the 19% vacancy rate for the broader market, once again showing a preference for newer properties.

    This leasing trend has held through the third quarter. Trophy office assets with amenities are retaining value, while properties without them are suffering. Some property management teams are tightening budgets and looking for places to trim back cost expenditures to cope, but proactive office owners are embracing the hotelization of real estate by investing in property improvements and onsite services and installing client-facing managers to cultivate a rich experience.

    A formal education

    Over the last two decades, hospitality has evolved into a sophisticated industry. Today, most universities offer a degree in hospitality management, and the average hotelier is entering the industry armed with a specialized degree. But the benefits aren’t exclusive to hotels. Hospitality training and education are applicable to a wide range of commercial real estate assets. Along with offices, museums, hospitals, airlines, non-profits, and even funeral homes are recruiting hospitality professionals to drive better customer experiences. Many hospitality programs are adding office management and other real estate courses to the standard curriculum.

    I recently sat down with Edwin Torres, department chair of international hospitality and service innovation at The Rochester Institute of Technology’s Saunders College of Business, which just so happens to be my alma mater. The hospitality program has added courses in operational management, site selection, project management, and franchising in recent years to deliver well-rounded students that are equipped to handle opportunities in a wide selection of asset classes. For office assets, hospitality is fostering enthusiasm and creating a place where people feel compelled to go. “Those skills are still going to be important, and those are the skills that we can further advance in our program,” explains Torres.

    There is tremendous demand for diversified hospitality programs, and students are recognizing the potential for career advancement with a hospitality degree. In particular, master’s degree programs in hospitality management have seen a surge in enrollment, and Torres expects these programs to continue to grow in popularity as they become more multidisciplinary. He currently has his sights set on expanding even further to include training in specialized areas like asset management, events and entertainment, data and analytics. These courses will complement the current offerings which provide future managers skills in hotel management, beverage management, and the design of customer experiences.

    A new generation of property managers

    As the office market evolves so will the role of property managers. Hospitality is quickly becoming a key component of the job, which will entail everything from managing asset budgets, overseeing costs and hiring and managing vendors to responding to tenant needs, planning events and managing services, like onsite food and beverage options.

    While there is no formal property management degree, hospitality programs are filling that void. Torres describes hospitality management as an entrepreneurial industry where managers learn to oversee multiple businesses under one roof, all while driving a cohesive and positive experience for guests. Sound familiar? Office owners are finding increasing success tapping into this market as a resource for the next generation of property managers.

    As such, future property managers will have to strike this balance between providing superior client services and maintaining the operational and financial health of the property, but in some ways, this has always been the role of quality property management—to serve as the liaison between ownership and occupants and fulfill the needs of both. By incorporating hospitality standards, property managers are simply executing a longstanding mission: to take good care of the property and its occupants.

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    Mark Zettl, Contributor

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