[JayCT]

Originally Posted by BobNJ1960

I can vouch via relatives Stamford's insurance corps were old school. I think it will change now, nationally. Hybrid for now, but may be 100% wfh the vast majority of time within a decade.

I also know Phoenix Life was old school (my relative worked for them, too, in the 90s). A rare day remote was ok by them, but nothing more.

Phoenix Life changed too. I had family that worked in the Boat Building for years. By the early 2000’s they had started work from home just like the others. They had to change in order to compete for talent. Jay

[Stepfordct]

Originally Posted by BobNJ1960

It is huge, as 40% of staff may be home at any time, or 2,800 fewer available lunch customers. Aetna will follow, no doubt.

Friends restaurant DT will probably close this year. Sales are down 65%

[BobNJ1960]

Originally Posted by Stepfordct

Friends restaurant DT will probably close this year. Sales are down 65%

That is too bad. Unfortunately for the restaurant industry, covid and/or hybrid is the "great reset". We had too many entering covid to survive once a transition away from "5 days in office" happened. If they do not close (any restaurant with lunch volume dying), or at least change to supper only, affected restaurants will go bankrupt.

It is true even shifting tens or hundreds of thousands of restaurants nationally to supper only will mean significant headcount cuts.

[BobNJ1960]

I did fear massive layoffs when People's Bank merged, but this is worse than I expected. 661 Peoples Bank layoffs in Bridgeport alone.

https://www.ctpost.com/business/arti...c=rdctpdensecp

[BobNJ1960]

Well done analysis as usual, in Courant's Business section on Ct's hotel sector.

https://www.courant.com/coronavirus/...j24-story.html

[BobNJ1960]

Originally Posted by BobNJ1960

I did fear massive layoffs when People's Bank merged, but this is worse than I expected. 661 Peoples Bank layoffs in Bridgeport alone.

https://www.ctpost.com/business/arti...c=rdctpdensecp

Today, M&T said 79% People's United staff will keep their jobs.

[mdovell]

Given how many CT companies are divisions of out if state and out of country companies consolidation can still happen.

Disney for example is moving 2,000 jobs from California to Florida. Average wage is 120,000 do its going to have a significant impact.
https://www.latimes.com/business/sto...alifornia-jobs

"Disney said in the application that it had considered building the regional campus in the Burbank-Glendale area, New York City and Bristol, Conn., but the company’s decision to move to Florida was influenced by the state incentives, affordable housing, low or no state income taxes and “excellent schools that are not at capacity, proper commuter roads and transportation services, etc."

If CT was chosen this would have been huge.

[robr2]

Originally Posted by mdovell

Given how many CT companies are divisions of out if state and out of country companies consolidation can still happen.

Disney for example is moving 2,000 jobs from California to Florida. Average wage is 120,000 do its going to have a significant impact.
https://www.latimes.com/business/sto...alifornia-jobs

"Disney said in the application that it had considered building the regional campus in the Burbank-Glendale area, New York City and Bristol, Conn., but the company’s decision to move to Florida was influenced by the state incentives, affordable housing, low or no state income taxes and “excellent schools that are not at capacity, proper commuter roads and transportation services, etc."

If CT was chosen this would have been huge.

Their goal was to bring park related people together. I doubt NYC or Bristol was ever a serious consideration as that would require people moving from two locations to one nowhere near park operations.

[SteveM85]

Originally Posted by BobNJ1960

Well done analysis as usual, in Courant's Business section on Ct's hotel sector.

https://www.courant.com/coronavirus/...j24-story.html

There's a subscription wall, but yes, Covid has negatively impacted the hotel sector. Absolutely, no two ifs about it.

[kidyankee764]

Originally Posted by BobNJ1960

Well done analysis as usual, in Courant's Business section on Ct's hotel sector.

https://www.courant.com/coronavirus/...j24-story.html

This is where you’re going to see the success divide between business hotels and leisure hotels. Connecticut has a lot of the former since the latter is mostly bed and breakfast types (which should be fine because people are starting to vacation again). Too bad.