3/29/2023 0 Comments Highfive inc![]() ![]() Not all office buildings, but probably a lot of them.Īdd higher vacancy, higher operating costs, higher capital costs, higher interest rates and lower cap rates all sailing into a likely slowdown of consumer spending and recession - and now you’ve got a perfect storm of bad news for office buildings.Īnd owners know lenders don’t want the buildings back. What we’re likely seeing here is a fundamental ‘narrative shift’ - a general market/owner/lender recognition that work from home has disrupted office building utilization - and that office as a product type is in trouble. The DuMont’s occupancy rate … is expected to fall to 75% in the summer after a large tenant, Memorial Sloan Kettering, vacates ….” “The art deco DuMont, at 515 Madison Ave., has struggled to keep tenants. If a deal can’t be reached, owner GFP Real Estate could hand over the keys.” ![]() “The loan wasn’t paid off when it matured at the end of last month, and a special servicer is negotiating an extension, FITCH said…. Have you noticed that recent headlines suggest owners seem only too happy to give back their office towers to lenders?įrom Crain's New York Business via Bisnow: #people #india #layoffs #tech #tatagroup Tata Consultancy Services Tata Motors Tata Group Tata Steel Industrial Consulting Meherbai had mortgaged her priceless Jubilee Diamond in Imperial Bank, so that the employees could get regular salaries and the company continues to run.Īfter her untimely death from blood cancer, Sir Dorabji Tata established the Tata Memorial Cancer Research Foundation by selling this diamond for better treatment of cancer patients in India.Ĭompanies like Google, Meta, Amazon, Microsoft and many others which are laying off their employees should learn from this. In the year, 1924, when there was recession due to First World War, Tata Steel did not have the money to pay salaries to the employees. The lady in this picture is Meherbai Tata who was the daughter-in-law of Jamshedji Tata and the wife of his eldest son Sir Dorabji Tata. This is a 245 carat Jubilee Diamond and was twice as large as the famous Kohinoor. If you zoom this photo, you will see a huge diamond worn around her neck. Do it yourself, then train your execs and company to be similarly customer-centric. Tldr Starting with the customer is an excellent way to build great products and companies, and oh by the way, it also helps you easily assess competitors. You cannot really develop this perspective on competitors without customer obsession - deeply understanding their problems and decision making, not just at the product level but at the organizational level. What matters about competitors is not how much they’ve raised or what their revenues are or who they’ve hired, but how well they solve customers’ problems, whether customers are choosing or switching to them, and whether they are strategically entrenched within the customer. Square never thought of the core merchant problem as payment acceptance the real problem was helping merchants grow their business, which meant accepting any form of payment, accessing working capital, hiring and paying employees, etc. It’s also important to understand how customers make buying decisions and how various products work well together. So it’s important to have a holistic view of customer problems. Square Payments led to POS, Capital, Payroll, Invoices and Marketing. But the adjacency might be a wedge into a suite that wil force you out in the future. Sometimes it might seem like customers aren’t switching you out and the competitor is an adjacent product. And if you see this happening, you need to root cause it with extreme urgency, figure out why your solution is falling short of your customer needs, and fix it. The bigget thing that matters wrt competition is if your customers are choosing or switching to a competitor over you. Specifically, being obsessed with your customers’ problems will help you see early if a competitor is solving their problems better than you are. IMO, the right way to evaluate competitors is through a customer lens. Some ignore them, others obsess over them. Founders and CEOs don’t have a good way to think about competitors. ![]()
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