Stocks are relatively flat even as a very slight, temporary gain brings the S&P to yet another intraday record.
Right now it seems most of the focus is on the virus and claims are that vaccinations hold the key to a return to normalcy … although not everyone, obviously, falls in this camp. Still, there is a lot of pressure being placed on the unvaccinated by peers and companies alike, even as some reports conclude (such as University of Washington IHME Model) we may be past the peak of daily infections.
But some organizations don’t want to risk such a conclusion being premature.
Ford Motor, for example, is delaying return to hybrid until early next year … and Goldman Sachs is taking this to another level by not allowing anyone in its offices not fully vaccinated. There is one benefit for visitors though … as they can walk a few blocks in Lower Manhattan to Krispy Kreme (starting on August 30) and get two free donuts with proof of receiving the shot.
How do people feel about these measures? Interestingly, Civic Science ran a survey and 57% of respondents feel vaccination proof should be required to return to work, with 17% somewhat agreeing and 40% strongly approving.
One thing related to work though is the last article below … which basically claims work will never be the same again and may no longer be the centerpiece of American life
… and with wages jumping (Daily Shot) and the seemed ability of companies to pass added costs onto clients (who themselves – per Alpine Macro – are seeing housing prices soar across the globe) rising prices certainly have become quite noticeable.
Heck, I can’t believe some of the prices I am seeing.
My tire has a slow leak and I needed to pull into a gas station the other day to use the air compressor. How much did they charge? $1.50. Ridiculous … for air!
And what do we have to blame for the increase in the price to fill up my tire?
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915
… As of 10:34 AM today …
Quick Look at the News
One major Wall Street financial firm, Goldman Sachs, will not allow any unvaccinated visitors in its offices (CNBC)https://www.cnbc.com/2021/08/24/goldman-sachs-to-require-all-people-entering-its-offices-to-be-fully-vaccinated-against-covid-19-.html
… and if this is not enough of an incentive … Krispy Kreme will be giving away 2 free donuts each day, starting next week, for those who received the shot (CNN)https://www.cnn.com/2021/08/25/business/krispy-kreme-free-doughnuts-vaccine/index.html
Meanwhile … ascribing to the theory of better being safe than sorry … Ford Motor is delaying its hybrid return-to-work program until early next year (CNBC)https://www.cnbc.com/2021/08/25/ford-delays-return-to-work-program-until-january-due-to-delta-surge.html
With electric car batteries not yet up to speed with combustion engines regarding the range of distance … great strides are being made in energy storage to close the gap (NewAtlas)https://newatlas.com/science/lithium-metal-ev-battery-benchmark-density-stability/
Have you ever put leftover pizza in a microwave (resulting in a cardboard-tasting, gooey mess)? Here are other methods that the author claims are far superior (ArtofManliness)https://www.artofmanliness.com/articles/the-best-way-to-reheat-pizza/
… and one more food problem might be solved … as a group at MIT has figured out a way to allow you to get all the liquid out of a food bottle. IMO they deserve a Nobel Prize (FastCompany)https://www.fastcompany.com/90668887/the-inside-of-these-bottles-are-coated-with-something-so-slippery-you-can-get-all-the-lotion-out
One of the most interesting questions … looking years ahead … is the future state of employment. Are jobs actually on the way out? (Vox)https://www.vox.com/22621892/jobs-work-pandemic-covid-great-resignation-2021