Symone D. Sanders, a former adviser to President Biden. (NBC News also has separate digital offerings for hard news and lifestyle coverage.)

For news executives, finding a winning formula in the streaming game is now an urgent priority.

Streaming has supplanted cable as the main home delivery system for entertainment, often on the strength of addictive series like “Squid Game.” For a while, though, old-fashioned cable news clung on, with CNN, MSNBC and Fox News attracting record audiences in recent years. In case of emergency — a pandemic, civil unrest, a presidential election, a Capitol riot — viewers still tuned in en masse.

After former President Donald J. Trump left office, news ratings nose-dived and cable subscriptions continued to plummet — an estimated four million households dropped their paid TV subscriptions last year, according to the research firm MoffettNathanson.

Fox Nation and CNN+ both rely on a business model dependent on paid subscriptions, hence the efforts by both to generate a wide variety of programming.

“A subscriber every month only has to find one thing that they want,” Mr. Zucker said in the interview. “We don’t need the subscriber to be interested in everything we’re offering, but they need to be interested in something.”

Mr. Zucker said CNN+ was aiming at three buckets of potential subscribers. He is seeking to entice loyal CNN viewers into paying for streaming programs featuring hosts familiar from the cable channel: Anderson Cooper will have two, including one on parenting; Fareed Zakaria is helming a show examining historical events; and Jake Tapper will host “Jake Tapper’s Book Club,” in which he interviews authors.

The other would-be subscribers, Mr. Zucker said, are news and documentary fans who want more nonfiction television, as well as younger people who don’t pay for cable.

CNN, though, is not ignoring the needs of its flagship cable network, which ranked third last year behind Fox News and MSNBC in total audience.

Mr. Zucker recently reached out to representatives for Gayle King, the star CBS News anchor, about the prospect of her taking over the weekday 9 p.m. hour on CNN, said two people with knowledge of the approach. CNN has not named a permanent anchor for the prime-time slot since Mr. Cuomo was fired in December after revelations that he assisted with the efforts of his brother, former Gov. Andrew M. Cuomo of New York, to fend off sexual harassment allegations.

CNN+ is also expected to include the breaking news and political coverage that CNN viewers are accustomed to — a feature that could pose difficulties for the network down the road. CNN commands a high price from cable distributors, who may cry foul if CNN+ includes too much news programming that potentially competes with the cable offering. For instance, Wolf Blitzer, the host of “The Situation Room” on CNN at 6 p.m., will also appear on CNN+ to anchor a “traditional evening news show with a sleek, modern twist.”

CNN’s parent company, WarnerMedia, which is on the verge of a megamerger with Discovery Inc., appears willing to take the risk. The company is placing a significant financial bet on CNN+, budgeting for 500 additional employees, including producers, reporters, engineers and programmers, said Andrew Morse, CNN’s chief digital officer. The company is also renting an additional floor of its headquarters in Midtown Manhattan to accommodate the hires.

“What we’re building at CNN+ is not a side hustle,” Mr. Morse said.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

‘Davos Man,’ Marc Benioff and the Covid Pandemic

He frequently tells the story of his supposed inspiration for founding Salesforce. Despite success at Oracle, where he worked early in his career, Mr. Benioff was plagued by existential doubt, prompting him to take a sabbatical to southern India. There, he visited a woman known as “the hugging saint,” who urged him to share his prosperity.

From the incorporation of Salesforce in 1999, Mr. Benioff pledged that he would devote 1 percent of its equity and product to philanthropic undertakings, while encouraging employees to dedicate 1 percent of their working time to voluntary efforts. Salesforce employees regularly volunteer at schools, food banks and hospitals.

“There are very few examples of companies doing this at scale,” Mr. Benioff told me in an interview. He noted that people were always talking to him about another business known for its focus on doing good, Ben & Jerry’s. He said this with a chuckle, clearly amused that his company — now worth more than $200 billion — could be compared to the aging Vermont hippies who had brought the world Cherry Garcia ice cream.

Mr. Benioff is by many indications a true believer, not just idly parroting Davos Man talking points. In 2015, when Indiana proceeded with legislation that would have allowed businesses to discriminate against gay, lesbian and transgender employees, he threatened to yank investment, forcing a change in the law. He shamed Facebook and Google for abusing the public trust and called for regulations on search and social media giants. Early in the pandemic, Salesforce embraced remote work to protect employees.

“I’m trying to influence others to do the right thing,” he told me. “I feel that responsibility.”

I found myself won over by his boyish enthusiasm, and his willingness to talk at length absent public relations minders — a rarity for Silicon Valley.

His philanthropic efforts have been directed at easing homelessness in San Francisco, while expanding health care for children. He and Salesforce collectively contributed $7 million toward a successful 2018 campaign for a local ballot measure that levied fresh taxes on San Francisco companies to finance expanded programs. The new taxes were likely to cost Salesforce $10 million a year.

That sounded like a lot of money, ostensible evidence of a socially conscious C.E.O. sacrificing the bottom line in the interest of catering to societal needs. But it was less than a trifle alongside the money that Salesforce withheld from the government through legal tax subterfuge.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Live Updates: NATO Urges Russia to Ease Crisis Over Ukraine

Video

Video player loading
Jens Stoltenberg, the NATO secretary general, said significant points of contention remain with Russia following talks aimed at easing tensions with the West and averting a further Russian invasion of Ukraine.CreditCredit…Pool photo by Olivier Hoslet

BRUSSELS — The leader of NATO said on Wednesday that “significant differences” remained between the bloc and Russia after four hours of talks aimed at holding off a further Russian invasion of Ukraine and calming tensions between Moscow and the West.

“Our differences will not be easy to bridge,” the NATO secretary-general, Jens Stoltenberg, told a news conference after the talks at the bloc’s headquarters in Brussels.

Mr. Stoltenberg said that NATO allies urged Russia to “immediately de-escalate the situation in Ukraine,” where close to 100,000 Russian troops have massed near the borders, and to respect the sovereignty and territorial integrity of its neighbors. Russian representatives did not commit to pulling back the troops, nor did they reject the demand, officials said.

NATO allies reaffirmed their refusal to accept Russian demands to stop further enlargement with countries that wished to join the alliance and to withdraw all allied troops from NATO members bordering Russia. Wendy R. Sherman, the deputy secretary of state who led the U.S. delegation to the talks, called some of Russia’s demands “simply non-starters.”

“This wasn’t an easy discussion, but that is exactly why this meeting was so important,” Mr. Stoltenberg said, adding that NATO allies and Russia had “a very serious and direct exchange on the situation in and around Ukraine, and implications for European security.”

The meeting at NATO’s Brussels headquarters was the second stop in a diplomatic roadshow focused on the Kremlin, after talks in Geneva on Monday between Russian and American officials. Looming over the high-level diplomacy is whether the Russian president, Vladimir V. Putin, will invade Ukraine as he seeks to pressure the West to roll back NATO’s presence in Eastern Europe, or de-escalate.

The United States and its NATO allies hope that Mr. Putin will decide to negotiate, as he is now confronted with threats of punishing economic sanctions and even of new deployments in NATO allies bordering Russia.

Mr. Stoltenberg said that NATO allies offered Russia a series of further meetings on wider issues of European security, including arms control and missile deployments. But while the Russian delegation was generally positive, he said, they would or could not commit to a new meeting. That is another indication that even Russia’s top diplomats may not know what Mr. Putin’s intentions really are.

Briefing reporters in Brussels, Ms. Sherman said that NATO officials laid out for the Russians areas “where we can work together and make real progress,” including on arms control and greater transparency in military exercises. But she reiterated the U.S. position that Russia first had to pull back from threatening Ukraine, adding that the fate of the Moscow-backed Nord Stream 2 pipeline, intended to transport natural gas from Russia to Germany, would depend on Russian de-escalation.

Ms. Sherman said the United States was prepared to talk further with the Russians, but seemed unsure whether Moscow would follow through.

“If Russia walks away,” she said, it would be “quite apparent that they were never serious about pursuing diplomacy at all.”

The leader of the Russian delegation — Aleksandr V. Grushko, who was Russia’s permanent representative to NATO from 2012 to 2018 — was expected to brief reporters later on Wednesday.

The talks were formally a meeting of the NATO-Russia Council, which was established in 2002 to discuss mutual security concerns but has been essentially moribund since April 2014 and the Russian invasion of Ukraine and annexation of Crimea.

NATO has 30 members and so, in a sense, the meeting was 30 against one. Ukraine is not a member of NATO, though the alliance promised in 2008 that it would be someday.

NATO officials emphasized that they wanted to keep the focus on Russia’s large and continuing military buildup surrounding Ukraine, rather than on Russian desires to force a renegotiation of the post-Cold War security architecture in Europe.

After Monday’s talks, Sergei A. Ryabkov, who led the Russian side, denied that Russia had any intention of a new military invasion of Ukraine. At the same time, Mr. Ryabkov warned that if the West did not agree to Russia’s demands to pull back NATO’s footprint in Eastern Europe and reject any future membership for Ukraine, it would face unspecified consequences that would put the “security of the whole European continent” at risk.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

For Retail Workers, Omicron’s Impact Isn’t Just About Health

Long checkout lines. Closed fitting rooms. Empty shelves. Shortened store hours.

Plus the dread of contracting the coronavirus and yet another season of skirmishes with customers who refuse to wear masks.

A weary retail work force is experiencing the fallout from the latest wave of the pandemic, with a rapidly spreading variant cutting into staffing.

While data shows that people infected with the Omicron variant are far less likely to be hospitalized than those with the Delta variant, especially if they are vaccinated, many store workers are dealing with a new jump in illness and exposures, grappling with shifting guidelines around isolation and juggling child care. At the same time, retailers are generally not extending hazard pay as they did earlier in the pandemic and have been loath to adopt vaccine or testing mandates.

“We had gotten to a point here where we were comfortable, it wasn’t too bad, and then all of a sudden this new variant came and everybody got sick,” said Artavia Milliam, who works at H&M in Hudson Yards in Manhattan, which is popular with tourists. “It’s been overwhelming, just having to deal with not having enough staff and then twice as many people in the store.”

said last week that it would shorten store hours nationally on Mondays through Thursdays for the rest of the month. At least 20 Apple Stores have had to close in recent weeks because so many employees had contracted Covid-19 or been exposed to someone who had, and others have curtailed hours or limited in-store access.

At a Macy’s in Lynnwood, Wash., Liisa Luick, a longtime sales associate in the men’s department, said, “Every day, we have call-outs, and we have a lot of them.” She said the store had already reduced staff to cut costs in 2020. Now, she is often unable to take breaks and has fielded complaints from customers about a lack of sales help and unstaffed registers.

“Morale could not be lower,” said Ms. Luick, who is a steward for the local unit of the United Food and Commercial Workers union. Even though Washington has a mask mandate for indoor public spaces, “we get a lot of pushback, so morale is even lower because there’s so many people who, there’s no easy way to say this, just don’t believe in masking,” she added.

Store workers are navigating the changing nature of the virus and trying their best to gauge new risks. Many say that with vaccinations and boosters, they are less fearful for their lives than they were in 2020 — the United Food and Commercial Workers union has tracked more than 200 retail worker deaths since the start of the pandemic — but they remain nervous about catching and spreading the virus.

local legislation.

More broadly, the staffing shortages have put a new spotlight on a potential vaccine-or-testing mandate from the Biden administration, which major retailers have been resisting. The fear of losing workers appears to be looming large, especially now.

While the retail industry initially cited the holiday season rush for its resistance to such rules, it has more recently pointed to the burden of testing unvaccinated workers. After oral arguments in the case on Friday, the Supreme Court’s conservative majority expressed skepticism about whether the Biden administration had legal authority to mandate that large employers require workers to be vaccinated.

The National Retail Federation, a major industry lobbying group, said in a statement last week that it “continues to believe that OSHA exceeded its authority in promulgating its vaccine mandate.” The group estimated that the order would require 20 million tests a week nationally, based on external data on unvaccinated workers, and that “such testing capacity currently does not exist.”

When the top managers at Mr. Waugh’s Stop & Shop store began asking employees whether they were vaccinated in preparation for the federal vaccine mandates that could soon take effect, he said, a large number expressed concern to him about being asked to disclose that information.

“It was concerning to see that so many people were distressed,” he said, though all of the employees complied.

Ms. Luick of Macy’s near Seattle said that she worked with several vocal opponents of the Covid-19 vaccines and that she anticipated that at least some of her colleagues would resign if they were asked to provide vaccination status or proof of negative tests.

Still, Macy’s was among major employers that started asking employees for their vaccination status last week ahead of the Supreme Court hearing on Friday and said it might require proof of negative tests beginning on Feb. 16.

“Our primary focus at this stage is preparing our members for an eventual mandate to ensure they have the information and tools they need to manage their work force and meet the needs of their customers,” said Brian Dodge, president of the Retail Industry Leaders Association, which includes companies like Macy’s, Target, Home Depot, Gap and Walmart.

As seasonal Covid-19 surges become the norm, unions and companies are looking for consistent policies. Jim Araby, director of strategic campaigns for the food and commercial workers union in Northern California, said the retail industry needed to put in place more sustainable supports for workers who got ill.

For example, he said, a trust fund jointly administered by the union and several employers could no longer offer Covid-related sick days for union members.

“We have to start treating this as endemic,” Mr. Araby said. “And figuring out what are the structural issues we have to put forward to deal with this.”

Kellen Browning contributed reporting.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Institutional Property Advisors Closes $80 Million San Bernardino County Apartment Asset Sale

UPLAND, Calif.–(BUSINESS WIRE)–Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced the sale of The Benson, a 236-unit multifamily property in Upland, California. The asset sold for $80.75 million, or $342,161 per unit.

“The Benson benefits from significant capital expenditures, most of which were spent on systems and common area improvements,” said Joseph Grabiec, IPA executive director. “New ownership has the opportunity to focus on revenue enhancing interior upgrades consistent with the competitive set, thereby immediately adding value.” Grabiec and IPA’s Alexander Garcia, Jr., Kevin Green, Greg Harris and Chris Zorbas represented the seller, an affiliate of Abacus Capital Group, and procured the buyer, New Standard Equities. “Rents in Upland have increased by 13% in the last 12 months and the competitive set’s asking rents are approximately 35% higher than the average in-place rents at The Benson,” added Garcia. “Average occupancy in Upland over the same time period has been 97%.”

Located 1.4 miles from the Los Angeles County border, the property is near Claremont Colleges, the Montclair TransCenter, and extensive retail. The San Bernardino Metrolink line at the Montclair TransCenter, three regional rapid bus service providers, and convenient access to a multitude of freeways offer connectivity to surrounding employment centers in the Inland Empire and the San Gabriel Valley.

“The Inland Empire continues to experience impressive growth and job creation, and this surge in economic activity has intensified the demand for housing,” said Green. “Single-family home prices have increased 13% over the last 12 months and are projected to grow 10% over the next 12 months, further exacerbating the affordability gap to home ownership and fueling strong rent growth.”

The Benson was built in 1973 on a 516,578-square-foot lot. The asset has 32 residential buildings, two resort-style pools with furnished sundecks, a spa, fitness center, dog park, playground, and over 350 onsite parking spots. The unit mix is composed of one-, two- and three-bedroom apartments. Each unit has a private balcony or patio.

About Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research, and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

After dozens are reported dead in Kazakhstan, troops from a Russian alliance begin to deploy.

Credit…Abduaziz Madyarov/Agence France-Presse — Getty Images

All night and into the early hours on Thursday, young men roamed the streets of Kazakhstan’s largest city, Almaty, flanked by flames and buttressed by barricades. As stun grenades exploded and tear gas wafted in the air, demonstrators set fire to trucks, police cars and other vehicles, their smoldering hulks littering the streets.

As the first foreign soldiers from countries allied with Russia landed in the Central Asian nation, they found a country that had, for the moment, been plunged into anarchy.

Some protesters came with firearms and started looting shops and malls, according to video footage posted from the scene. They set government buildings on fire, including the City Hall and the former office of the country’s president. They also captured the airport.

The scale of the violence, which was evident in videos, postings on social media and official government statements, was still coming into focus on Thursday morning as new and unconfirmed reports of sporadic clashes circulated on social media.

With intermittent internet access and few independent witnesses, information coming out of the country was hard to verify.

Galym Ageleulov, who has witnessed the events of the past few days, said he believed that a protest movement that was calling for peaceful change had been co-opted by throngs of criminals. Overnight, the streets were filled with mostly young men, many posing on social media with riot shields and helmets captured from the police. They were highly organized and managed by gang leaders, he said.

“The police have disappeared from the city,” said Mr. Ageleulov, director of the human rights center Liberty in Almaty. “These gang members marched through the city looting stores and setting cars ablaze as they moved; they stormed the City Hall,” he said in a phone interview.

“It was a horrible scene,” he said.

By the morning, Almaty had been transformed: Commercial banks were ordered closed with many Kazakhs rushing to A.T.M.s desperate to withdraw cash; stores were closed, causing many residents line up for bread, a scene unseen in the country for decades; at times, the internet has been shut down, disrupting basic infrastructure work.

Almaty’s City Hall, an imposing white building that once served as the Communist Party headquarters, was charred black from the flames that burned through the night. Members of the special forces roamed the surrounding streets firing live ammunition trying to quell the uprising.

The revolt began on Sunday in western Kazakhstan as a protest against a surge in fuel prices. Even though the government said it would rescind the price increase, the protests widened, spreading across the country, with broader demands for increased political representation and improved social benefits.

The Kazakh president, Kassym-Jomart Tokayev, issued a statement late Wednesday night calling the protesters “a band of terrorists” who had been trained abroad. He declared Kazakhstan to be under attack and asked for intervention from Russia’s answer to NATO, the Collective Security Treaty Organization, to which his country belongs.

The group is effectively led by Russia and also includes former Soviet countries in the Kremlin sphere of influence: Armenia, Belarus, Kyrgyzstan and Tajikistan.

The protests have paralyzed a nation of 19 million. In addition to the bank closures and internet shutdowns, the telephone system has been shut off sporadically, schools have extended their winter break by a week and flights in and out of airports in the cities of Almaty, Aktau and Aktobe have been suspended.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Why Silicon Valley Can’t Escape Elizabeth Holmes

SAN JOSE, Calif. — In 2016, start-up founders sang, “Theranos doesn’t represent, we are better,” in a holiday video created by the venture capital firm First Round Capital.

Over the next few years, several columnists wrote that Silicon Valley shouldn’t be blamed for Theranos.

Last month, Keith Rabois, a venture capitalist, said on Twitter that articles connecting Theranos with Silicon Valley culture contained “more fabrication than anything ever uttered by Trump.”

The technorati in Silicon Valley and beyond have long tried to separate themselves from Theranos, the blood testing start-up in Palo Alto, Calif., that was exposed for lying about its abilities. But the fraud trial of the company’s founder, Elizabeth Holmes, has shown that just as Bernard Madoff was a creature of Wall Street and Enron represented the get-rich-quick excesses of the 1990s, Theranos and its leader were very much products of Silicon Valley.

a jury found the entrepreneur guilty of four of 11 counts of fraud, starkly underlined her participation in Silicon Valley’s culture.

Ms. Holmes, 37, used the mentorship and credibility of tech industry big shots like Larry Ellison, a co-founder of Oracle, and Don Lucas, a Silicon Valley venture capitalist, to raise money from others. She lived in Atherton, Calif., amid Silicon Valley’s elite and was welcomed into their circles.

She also used the start-up playbook of hype, exclusivity and a “fear of missing out” to win over later investors. She embodied start-up hustle culture by optimizing her life for the maximum amount of work. She dismissed the “haters” and anything that interfered with her vision of a better world. She parroted mission-driven technobabble. She even dressed like Steve Jobs.

No industry wants to be judged only by its worst actors. And many venture capitalists who heard Ms. Holmes’s impossibly lofty claims didn’t fall for them. But if anyone in Silicon Valley was suspicious of her proclamations, none spoke publicly about it until after things went south.

said in a hearing in May before the trial began.

At its best, Silicon Valley is optimistic. At its worst, it is so naïve it believes its own hogwash. Throughout her trial, Ms. Holmes’s lawyers argued she was simply a wide-eyed believer. Any statements that weren’t entirely truthful, they said, were about the future. It was what investors wanted to hear, they said.

“They weren’t interested in today or tomorrow or next month,” Ms. Holmes testified. “They were interested in what kind of change we could make.”

Soon after Theranos got started in 2003, Ms. Holmes used her vision of the future to win over investors and advisers like Mr. Ellison and Mr. Lucas. Mr. Lucas, who was chairman of Theranos’s board until 2013, was involved with more than 20 investment vehicles that backed Theranos. Those included his son’s venture firm, Lucas Venture Group; another vehicle, PEER Venture Partners; and trusts and foundations associated with members of his family.

Bad Blood,” a book by John Carreyrou, a former Wall Street Journal reporter.

Brian Grossman, an investor at the heath care-focused hedge fund PFM Health Sciences, learned about Theranos through Thomas Laffont, a co-founder of Coatue Management, a prominent investment fund with a San Francisco presence. In an email that was part of the court filings, Mr. Laffont gushed that Theranos had “one of the most impressive boards I’ve ever seen” and said Mr. Grossman’s firm should let him know “ASAP” if it was interested in an introduction.

Coatue did not respond to a request for comment and PFM Health Sciences declined to comment.

embraced by many in the tech industry. “This is what happens when you work to change things,” she said in a TV interview. “First they think you’re crazy, then they fight you, and then all of a sudden you change the world.”

In the years since Theranos collapsed, more tech start-ups have followed its strategy of looking outside the small network of Sand Hill Road venture capital firms for funding. Start-ups are raising more money at higher valuations, and deal-making has accelerated. Mutual funds, hedge funds, family offices, private equity funds and megafunds like SoftBank’s Vision Fund have rushed to back them.

Mr. Salehizadeh said Silicon Valley’s shift to a focus on fund-raising over all else was one reason he had left to set up a private equity firm on the East Coast. The big money brought more glitz to tech start-ups, he said, but it had little basis in business fundamentals.

“You’re always left feeling like either you’re an idiot or you’re brilliant,” he said. “It’s a tough way to be an investor.”

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

A Nation on Hold Wants to Speak With a Manager

“He kept shouting, ‘The governor said we no longer have to wear masks,’” Mr. O’Brien said. The woman’s response — that they were still required in places with a certain number of workers — only made him angrier.

Finally, the owner arrived and “told the customer never to return,” Mr. O’Brien said.

It’s not just your imagination; behavior really is worse. In a study of 1,000 American adults during the pandemic, 48 percent of adults and 55 percent of workers said that in November 2020, they had expected that civility in America would improve after the election.

By August, the expectations of improvement had fallen to 30 percent overall and 37 percent among workers. Overall, only 39 percent of the respondents said they believed that America’s tone was civil. The study also found that people who didn’t have to work with customers were happier than those who did.

“There’s a growing delta between office workers and those that are interacting with consumers,” said Micho Spring, chair of the global corporate practice for the strategic communications company Weber Shandwick, which helped conduct the study.

At the same time, many consumers are rightly aggrieved at what they view as poor service at companies that conduct much of their business online — retailers, cable operators, rental car companies and the like — and that seem almost gleefully interested in preventing customers from talking to actual people.

“The pandemic has given many companies license to reduce their focus on the quality of the experience they’re delivering to the customer,” said Jon Picoult, founder of Watermark Consulting, a customer service advisory firm.

In part, the problem is the disconnect between expectation and reality, said Melissa Swift, U.S. transformation leader at the consulting firm Mercer. Before the pandemic, she said, consumers had been seduced into the idea of the “frictionless economy” — the notion that you could get whatever you wanted, the moment you wanted it.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Parents Face Long Waits for Car Seats and Other Baby Items

Almost as soon as Eryn Yates made it through her first trimester of pregnancy last spring, she started shopping for her dream nursery.

But getting the items she wanted turned into a nightmare.

The crib that she had ordered from Crate & Barrel arrived within weeks, but the rocking chair from Pottery Barn Kids was back-ordered for months, and then lost somewhere in transit. The delivery of the dresser she was going to use as her changing table was repeatedly postponed until West Elm informed her that it would be delivered in late April or May 2022 — more than six months after her daughter’s birth.

“I definitely thought that we were ahead of the game since we started ordering everything so early,” said Ms. Yates, 27, who lives in Winter Garden, Fla., and works in health care. “I was wrong.”

Global supply chain disruptions wrought by the pandemic have snarled the delivery of items as varied as medical devices, toys and Grape-Nuts. But perhaps no delays have provoked more familial angst in the last two years than those for baby items.

more than 3.6 million births in the United States in 2020.

The result of the baby-supply upheaval — besides higher prices and an ever-bustling hand-me-down market — has been an injection of new stress and uncertainty into an already emotionally delicate time. Expectant parents are scrambling to get items before they bring their babies home, and retailers and manufacturers are racing to reassure them that their goods will come, and devising hasty solutions if they won’t. Message boards on sites for new parents teem with complaints over back orders and repeated shipment delays. Retailers have become accustomed to soothing anxious parents-to-be.

“These are pregnant women that are all having their babies,” said Lauren Logan, the owner of the Juvenile Shop, a family-run baby retailer in the Sherman Oaks neighborhood of Los Angeles. “They are hormonal, but they are pregnant — they want their stuff. I don’t blame them. I want their stuff for them.”

traced to the outbreak of Covid-19, which triggered an economic slowdown, mass layoffs and a halt to production. Here’s what happened next:

On the receiving end are customers who don’t need another source of anxiety. First-time parents often research heavily before selecting strollers, cribs, car seats and other wares. And out-of-stock items can crimp registries; Babylist says new parents often select 100 to 200 items.

After Gina Catallo-Kokoletsos, 33, and her husband finally agreed on a crib from Pottery Barn Kids, her father placed the order as a gift in July. Originally, the crib was supposed to ship in October, giving just enough time before the couple’s baby was due in November. But when Ms. Catallo-Kokoletsos checked in September, she saw that the shipment date had been pushed to January.

“I called them, and they were like, ‘Oh, yeah, it’s going to be delayed.’ And I said, ‘Well, my baby is due before that,’” said Ms. Catallo-Kokoletsos, who lives in Chico, Calif., and works at an animal shelter. She ended up canceling the order and choosing a crib from a small company she had never heard of. That crib arrived on time, but other items on her baby registry, including a rocking chair, went out of stock before she could get them.

“I knew none of it was the end of the world,” she said. “It just kind of gets frustrating after a while.”

Further complicating matters for some expectant parents are deeply ingrained beliefs about buying or receiving items before their babies are born.

Joelle Fox, 35, a naturopathic physician in Scottsdale, Ariz., who is expecting a baby boy in January, said she was wary of ordering anything in part because of a custom among many Jewish people of not having baby things in the house until the baby arrives.

“It’s kind of a tradition that women have done, and I was kind of following that,” she said, adding that she also wanted to research items carefully to make sure they were not harmful. But the supply chain issues compelled her to start buying some items for the nursery at the end of October, a decision that she said prompted “a lot of emotions.”

Even still, she said, the dresser she ordered from Wayfair is not supposed to ship until mid-January. “That has definitely put a bit of a damper on everything, because I can’t get the room completely set up,” she said.

At around 36 weeks pregnant, Ms. Yates in Florida, whose daughter was born in October, gave up on receiving the West Elm dresser and bought one from Ikea. She cut off its legs and replaced them with metal ones that matched the crib she had bought.

She had less luck with her Pottery Barn Kids chair, which she had ordered in June. After it failed to arrive, she felt so desperate that she emailed corporate customer service and copied the chief executive. By the time she was told in October that the chair had been lost, the color and fabric she wanted were no longer available. The company ended up sending her a loaner chair, in a different color, “so I at least had something in the room for me to use.”

Ms. Yates said that she was sympathetic to the companies’ struggles, but that the ordeal still had left her in tears.

“I was not a very emotional pregnant woman — I had a very short temper, rather than being a crier,” she said. “But when it came to the nursery, I cried a lot, because I had this picture of exactly what I wanted, and then it just felt like one thing after another.”

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Cushman & Wakefield Arranges $235M Refinancing for 1.3-MSF Distribution Center in New Jersey

LINDEN, N.J.–(BUSINESS WIRE)–Cushman & Wakefield (NYSE: CWK) announced that the real estate services firm served as the exclusive advisor to Advance Realty Investors and Greek Development in arranging $235 million of permanent financing for Buildings E and G at Linden Logistics Center in Linden, New Jersey. Buildings E and G are two Class A facilities totaling over 1.32 million square feet (msf). The 10-year, fixed-rate loan was provided by Northwestern Mutual.

A Cushman & Wakefield Equity, Debt & Structured Finance team led by John Alascio, Chuck Kohaut, TJ Sullivan, John Spreitzer, Sebastian Sanchez and Zachary Smolev represented the borrower.

“We’re incredibly proud of our project team and the quality of product we’ve been able to complete at Linden Logistics Center,” said Advance Realty Investors CEO Peter Cocoziello. “This is the culmination of the first of several phases in our development program and we are so pleased to expand our great relationship with Northwestern Mutual. Currently we’re under construction with the second phase encompassing another 1.6 million square feet in 3 separate buildings and look forward to delivering this phase in the third quarter of 2022.”

“Today’s announcement serves as a testament to both the strength of the project and the combined hard work of everyone involved,” said Frank Greek, CEO at Greek Development. “Alongside our key project partners, we’ve successfully provided a Class-A logistics space in the Port of NY/NJ region and look forward to Linden’s continued momentum and success.”

“The team of Advance Realty Investors and Greek Development have done an incredible job with this site and Cushman & Wakefield is proud to be involved with its first phase,” said Alascio. “The quality of sponsorship and tenancy led to a competitive financing process and we are thrilled with the outcome.”

Cushman & Wakefield’s more than 1,000 Logistics & Industrial Services professionals around the world provide local market expertise and strategies for manufacturing, logistics, warehousing and supply chain. According to Cushman & Wakefield research, Q3 2021 was another record-breaking quarter for the U.S. industrial market, with demand, rents and the construction pipeline continuing to reach new heights.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

About Advance Realty Investors

Advance Realty Investors is a privately-owned real estate investment, development and management company based in Bedminster, New Jersey. Since their founding in 1979, Advance has developed, acquired, and repositioned real estate assets within the industrial, residential, life science, office, and retail space song the Northeast Corridor with a primary geographic focus within New Jersey. Currently they own, manage and invest in a diversified portfolio over 20-million-square-feet across all asset classes. Visit www.advancere.com for more information.

About Greek Development

Greek Development is a leading Central New Jersey-based full-service real estate firm focused on industrial development throughout New Jersey and Pennsylvania. Founded in 1934, the company has developed more than 27 million square feet of primarily industrial space. As one of the oldest industrial real estate development specialists in the industry today, F. Greek Development is a vertically-integrated company operating every phase of its 17 million square foot portfolio including site selection, design, construction, leasing, property management and tenant relations. For more information, visit www.greekdevelopment.com.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<