LyrArc Article Gist
Overdevelopment of the office market in Dallas, Houston, and Austin, cities in Texas, presents a problem in combination with the increase in remote work. The office vacancy rate in Texas is 25% in the third quarter of 2023, according to Moody's Analytics, compared to 12% for New York and 17% for San Francisco. The oversupply of buildings for office space was decades in the making, says WSJ.

LyrArc Article Gist
About 30% of recent postings are for hybrid work at Boeing and it favors remote and hybrid work. It helps to reduce cost by trimming payrolls and cutting office space to return to cash flow and profitability. The leader of America's largest aerospace company Mr. Calhoun says headquarters is himself and CFO Mr. West. Calhoun is CEO of Boeing since 2020, and has run the company using remote work. He sees the company as distributed all over the US. Its headquarters shifted twice from Seattle to Chicago, and then to Virginia outside Washington D.C. He says about this that 70% of his day is virtual no matter where he is because he runs a large distributed company that Boeing is today. Many factories are in the Seattle area, suppliers in many locations. Calhoun has homes in the Hilton Head area, and near Lake Sunapee in New Hampshire. Boeing says it is a different approach to get employees to travel to many locations and engage people rather than be tied up at a corporate headquarters.  ...