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Bullseye. The company I work for has a large home office, plus a satellite office tower in the same city. Plus a satellite office in a second city. So even befo

by greedo 5y ago

Bullseye. The company I work for has a large home office, plus a satellite office tower in the same city. Plus a satellite office in a second city. So even before COVID, we were working with users remotely. We own all three buildings and land, and have always been proud of that for some reason. Very emotionally invested in the Home office. Obviously COVID changed all that and exposed the opposition to remote work as just obstructionist. Our company was 100% remote for over two years, and both sales and profits have never been higher. Yet some of management really just can't deal with it now. Ironically, the IT mgmt is the one most opposed to remote work and barely signed off on a hybrid model. I'm in the same age cohort as most of our executives, and though your comment may seem ageist, I think it's spot on. These VPs and managers love to schmooze, have $$ lunches, golf with vendors etc. Their entire work life is designed around schmoozing and building their little networks with vendors so they have a safe landing spot if things go bad in their careers. You might say this is the same as ICs who build networks, but I don't get paid to network. I don't recommend technologies based on who I golf with. Mgmt needs to realize they can't unring this bell, and will continue to lose effective performers who (especially in IT) have more options since COVID.

musingsole 5y ago
> We own all three buildings and land, and have always been proud of that for some reason Many businesses -- despite whatever their mission statement may be -- are not-so-thinly veiled real estate vehicles. Even businesses with a healthy income from whatever good or service they provide will often have another 25%+ in income from real estate gains. McDonald's is probably a good example of this. I learned this pitching a business plan where an executive thought the "occupant mission" was compelling, but that we needed more expertise on the types of properties we could add value to.
- asdff 5y ago
  It's hillarious when you get some bullheaded executive who comes into these companies specifically to part out this real estate and raise profits for their tenure before they exit. For example, a lot of studios in hollywood in recent years have sold their back lots, and are now just leasing them back from some holding company. I'm sure this arrangement made a lot of money for some people, but I imagine in a few decades this will hurt the studios when these land owners start negotiating the next round of leases and realize they have literally all the leverage.

by greedo 5y ago

musingsole 5y ago

> We own all three buildings and land, and have always been proud of that for some reason Many businesses -- despite whatever their mission statement may be -- are not-so-thinly veiled real estate vehicles. Even businesses with a healthy income from whatever good or service they provide will often have another 25%+ in income from real estate gains. McDonald's is probably a good example of this. I learned this pitching a business plan where an executive thought the "occupant mission" was compelling, but that we needed more expertise on the types of properties we could add value to.

asdff 5y ago
It's hillarious when you get some bullheaded executive who comes into these companies specifically to part out this real estate and raise profits for their tenure before they exit. For example, a lot of studios in hollywood in recent years have sold their back lots, and are now just leasing them back from some holding company. I'm sure this arrangement made a lot of money for some people, but I imagine in a few decades this will hurt the studios when these land owners start negotiating the next round of leases and realize they have literally all the leverage.