My “First day of Summer” morning train WFH reads:
• The thriving business of ‘Ikea hacking’ A growing number of companies are offering design tweaks for old Ikea furniture — and business is booming. (The Hustle)
• COVID-19 ends longest employment recovery and expansion in CES history, causing unprecedented job losses in 2020 In March and April 2020, the longest employment recovery and expansion in U.S. history abruptly ended, with total nonfarm employment falling sharply because of the coronavirus disease 2019 (COVID-19) pandemic and the efforts to contain it. Job losses were historic and widespread. (Bureau of Labor Statistics)
• After Blowing $300 Billion, U.S. Shale Finally Makes Money After years of booms and busts that produced astronomical losses along with a whole lot of oil, the fracking industry seems to have found a sweet spot. It’s poised to generate more than $30 billion of free cash this year, a record. (Bloomberg)
• Thieves Find Money That Grows on Trees: ‘Avocados Are the Green Gold’ Global demand has spurred brazen nighttime heists and defensive measures from barbed-wire fences to infrared cameras to security teams and tracking dogs (Wall Street Journal)
• Don’t Underestimate the Power of Luck When It Comes to Success in Business Managers are very prone to both benchmarking and stereotyping. These practices lead them into underestimating the power of luck, so that they often attribute success to capabilities and failure to bad luck in people or organizations they see as having the attributes of greatness, while they discount capabilities and attribute success to luck in people or organizations that do not conform to their ideas of greatness. (HBR)
• Wishful Thinking in a World Without Yield The need for higher returns can breed desperation for anyone with a portfolio—large or small (Wall Street Journal)
• Add Boats to the List of What’s Hard to Find (and More Expensive) Sales and charters of boats of all sizes are up this summer. You can forget about bargaining, brokers say. (New York Times)
• The US’s greatest danger isn’t China. It’s much closer to home The rivalry with China is palpable but history teaches us lessons about how it’s easier to blame others than blame ourselves (The Guardian)
• 28 Great Reads for Your Every Summer Mood Do you want to feel wonder about the universe, or be transported to another place? Maybe you’re craving smart observations about life, a deep dive, or just a bit of human connection. If you’re looking to embrace high drama or rediscover an old gem, we have you covered too. Here, 28 books to keep you company, wherever you’ll be. (The Atlantic)
• The King of the Geezer Teasers: Inside Randall Emmett’s direct-to-video empire, where many Hollywood stars have found lucrative early retirement. (Vulture)
Be sure to check out our Masters in Business interview this weekend with Social Psychologist Robert Cialdini, Professor Emeritus of Psychology and Marketing at Arizona State University. He is the author of the book Influence, which has sold over 5 million copies in 30 languages. The latest revision is out Influence, New and Expanded: The Psychology of Persuasion.
Mortgage Equity Withdrawal in Q1 2021
Source: Calculated Risk
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