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With Places, Microsoft aims to help companies better manage hybrid work setups

Aiming to capture a broader swath of customers who’ve embraced hybrid work, as well as accommodate existing customers, Microsoft today introduced Places,…

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Aiming to capture a broader swath of customers who’ve embraced hybrid work, as well as accommodate existing customers, Microsoft today introduced Places, a forthcoming add-on to Microsoft 365 designed to — in the company’s words — “optimize the use of physical space.” More concretely, Places provides insights into when workers are coming into offices and which meeting times are best suited for in-person versus remote setups.

Lars Johnson, senior director on Microsoft’s connected workplace and Teams group, said that there were multiple impetuses behind Places, which has been in development for over a year. Employees wanted opportunities to connect in-person with their colleagues, he said — despite the general trend toward remote work. But they lacked the tools to effectively coordinate.

“As we were discussing [our calling and videoconferencing solution] Teams Rooms with customers, they were continuing to point us to a larger challenge they were grappling with: What is the purpose of the office?” Johnson told TechCrunch in an email interview. “We were [also] seeing early signs from our own research about hybrid working that while people still wanted flexibility, they were missing some in-person connection.”

Places is Microsoft’s attempt to overcome these hurdles with a tool that shows the real-time working status of employees, including fully remote and hybrid teams. From a dashboard, workers can quickly see which days are hybrid, in-office or remote and the percentage of the workforce that’s in a given office building.

Image Credits: Microsoft

Places also shows each staffer’s scheduled in-office and remote days, as well as their current availability (e.g., in-office, remote or mobile). The idea is to help employees understand where their colleagues are sitting, how to book space on the days their team is planning to come in and how people are actively using the office, Johnson said.

“Creating effective places and coordinating where work happens will play a critical role in making hybrid and in-person work successful,” he added. “Places is focused on ‘where work happens’ and creating and improving places where we work.”

To this end, Places shows the workspaces others have booked, so someone can book one nearby if they so choose. And it provides office wayfinding and navigation, guidance on commuting time, tools for scheduling travel time and insights on space usage (e.g., energy-saving opportunities).

As Microsoft elaborates in a blog post:

Hybrid scheduling will leverage common data signals from Outlook and Teams to allow you to view the week ahead and see when your co-workers and close collaborators are planning to be in the office … Intelligent booking will help you discover available [office] spaces with the right technology to match your meeting purpose and mix of in-person or remote participants. And you’ll get recommendations for the shortest commute times — with prompts telling you when to leave based on that day’s traffic and when your meetings are scheduled … [Meanwhile, with] wayfinding … you’ll be able to access a map on your mobile device that guides you to the right place. Hot desk booking will allow you to see where your closest colleagues are sitting and choose your desk accordingly.

Microsoft sees Places as a platform rather than a standalone app — one which third-party partners can build on top of. Whether they actually will is an open question, but it indeed seems to be the case that employers desire greater intelligence where it concerns office occupancy. Considering that rent, capital costs, facilities operations, maintenance and management make real estate the largest cost category outside of compensation for many organizations, that’s not surprising. According to McKinsey, real estate often amounts to 10% to 20% of total personnel-driven expenditures — expenditures that make less sense during a pandemic.

It’s not just COVID-19 that has companies looking to reevaluate office spaces. The economic downturn is pushing an increasing number to consider downsizing or subletting. According to a survey from workspace management platform Robin, 46% of businesses said that they plan to reduce their office footprint over the next nine months.

“Places … leverage the [a] rich space data to improve how and where work happens,” Johnson. “Data from Teams Rooms will accrue into the Places app, leading to stronger solutions for our customers.”

It’s worth noting while the intentions behind Places appear to be good, it’s unlikely every worker will be on board with the idea of their employer recording more data on the way they work. That’s because, as a piece in Computerworld points out, hybrid work can become a “minefield of unfairness, rewarding people who are more able and willing to work in the office. In a Gartner poll, 59% of women knowledge workers — who are more likely than men to express a preference for remote work, the poll found — think in-office employees will be seen as higher performers while 78% believe in-office workers are more likely to be promoted.

We asked Microsoft in a follow-up email if there’s anything to prevent an employer from using Places data to make personnel decisions. A spokesperson said:

“Microsoft Places will aggregate data to show overall space utilization trends; it will not show it at the individual level. At Microsoft, we think using technology to track employees is both counterproductive and wrong. Instead, we recommend measuring outcomes, not activity. This era of flexible work requires a new way of thinking about what it means to be productive — one that goes beyond activity metrics alone.”

Microsoft Places

Image Credits: Microsoft

In any case, with Places, Microsoft enters an increasingly crowded field of apps to manage hybrid workplaces. French-based Café similarly helps workers see when people in their team are coming to the office so that they can plan when they should go to the office as well. There’s also Officely, which lets workers coordinate office time without having to leave Slack. Companies including VergeSense, Butlr and Density sell people-tracking sensors geared toward corporate workplaces.

In a decided advantage, Microsoft has the might of its Microsoft 365 customer base behind it. As of April 2021, the consumer version of the office productivity suite alone had more than 50 million subscribers. Particularly if developers embrace Places, Microsoft could become a force to reckon with in the market for office and people management.

With Places, Microsoft aims to help companies better manage hybrid work setups by Kyle Wiggers originally published on TechCrunch

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Apartment permits are back to recession lows. Will mortgage rates follow?

If housing leads us into a recession in the near future, that means mortgage rates have stayed too high for too long.

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In Tuesday’s report, the 5-unit housing permits data hit the same levels we saw in the COVID-19 recession. Once the backlog of apartments is finished, those jobs will be at risk, which traditionally means mortgage rates would fall soon after, as they have in previous economic cycles.

However, this is happening while single-family permits are still rising as the rate of builder buy-downs and the backlog of single-family homes push single-family permits and starts higher. It is a tale of two markets — something I brought up on CNBC earlier this year to explain why this trend matters with housing starts data because the two marketplaces are heading in opposite directions.

The question is: Will the uptick in single-family permits keep mortgage rates higher than usual? As long as jobless claims stay low, the falling 5-unit apartment permit data might not lead to lower mortgage rates as it has in previous cycles.

From Census: Building Permits: Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,518,000. This is 1.9 percent above the revised January rate of 1,489,000 and 2.4 percent above the February 2023 rate of 1,482,000.

When people say housing leads us in and out of a recession, it is a valid premise and that is why people carefully track housing permits. However, this housing cycle has been unique. Unfortunately, many people who have tracked this housing cycle are still stuck on 2008, believing that what happened during COVID-19 was rampant demand speculation that would lead to a massive supply of homes once home sales crashed. This would mean the builders couldn’t sell more new homes or have housing permits rise.

Housing permits, starts and new home sales were falling for a while, and in 2022, the data looked recessionary. However, new home sales were never near the 2005 peak, and the builders found a workable bottom in sales by paying down mortgage rates to boost demand. The first level of job loss recessionary data has been averted for now. Below is the chart of the building permits.



On the other hand, the apartment boom and bust has already happened. Permits are already back to the levels of the COVID-19 recession and have legs to move lower. Traditionally, when this data line gets this negative, a recession isn’t far off. But, as you can see in the chart below, there’s a big gap between the housing permit data for single-family and five units. Looking at this chart, the recession would only happen after single-family and 5-unit permits fall together, not when we have a gap like we see today.

From Census: Housing completions: Privately‐owned housing completions in February were at a seasonally adjusted annual rate of 1,729,000.

As we can see in the chart below, we had a solid month of housing completions. This was driven by 5-unit completions, which have been in the works for a while now. Also, this month’s report show a weather impact as progress in building was held up due to bad weather. However, the good news is that more supply of rental units will mean the fight against rent inflation will be positive as more supply is the best way to deal with inflation. In time, that is also good news for mortgage rates.



Housing Starts: Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,521,000. This is 10.7 percent (±14.2 percent)* above the revised January estimate of 1,374,000 and is 5.9 percent (±10.0 percent)* above the February 2023 rate of 1,436,000.

Housing starts data beat to the upside, but the real story is that the marketplace has diverged into two different directions. The apartment boom is over and permits are heading below the COVID-19 recession, but as long as the builders can keep rates low enough to sell more new homes, single-family permits and starts can slowly move forward.

If we lose the single-family marketplace, expect the chart below to look like it always does before a recession — meaning residential construction workers lose their jobs. For now, the apartment construction workers are at the most risk once they finish the backlog of apartments under construction.

Overall, the housing starts beat to the upside. Still, the report’s internals show a marketplace with early recessionary data lines, which traditionally mean mortgage rates should go lower soon. If housing leads us into a recession in the near future, that means mortgage rates have stayed too high for too long and restrictive policy by the Fed created a recession as we have seen in previous economic cycles.

The builders have been paying down rates to keep construction workers employed, but if rates go higher, it will get more and more challenging to do this because not all builders have the capacity to buy down rates. Last year, we saw what 8% mortgage rates did to new home sales; they dropped before rates fell. So, this is something to keep track of, especially with a critical Federal Reserve meeting this week.

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One more airline cracks down on lounge crowding in a way you won’t like

Qantas Airways is increasing the price of accessing its network of lounges by as much as 17%.

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Over the last two years, multiple airlines have dealt with crowding in their lounges. While they are designed as a luxury experience for a small subset of travelers, high numbers of people taking a trip post-pandemic as well as the different ways they are able to gain access through status or certain credit cards made it difficult for some airlines to keep up with keeping foods stocked, common areas clean and having enough staff to serve bar drinks at the rate that customers expect them.

In the fall of 2023, Delta Air Lines  (DAL)  caught serious traveler outcry after announcing that it was cracking down on crowding by raising how much one needs to spend for lounge access and limiting the number of times one can enter those lounges.

Related: Competitors pushed Delta to backtrack on its lounge and loyalty program changes

Some airlines saw the outcry with Delta as their chance to reassure customers that they would not raise their fees while others waited for the storm to pass to quietly implement their own increases.

A photograph captures a Qantas Airways lounge in Sydney, Australia.

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This is how much more you'll have to pay for Qantas lounge access

Australia's flagship carrier Qantas Airways  (QUBSF)  is the latest airline to announce that it would raise the cost accessing the 24 lounges across the country as well as the 600 international lounges available at airports across the world through partner airlines.

More Travel:

Unlike other airlines which grant access primarily after reaching frequent flyer status, Qantas also sells it through a membership — starting from April 18, 2024, prices will rise from $600 Australian dollars ($392 USD)  to $699 AUD ($456 USD) for one year, $1,100 ($718 USD) to $1,299 ($848 USD) for two years and $2,000 AUD ($1,304) to lock in the rate for four years.

Those signing up for lounge access for the first time also currently pay a joining fee of $99 AUD ($65 USD) that will rise to $129 AUD ($85 USD).

The airline also allows customers to purchase their membership with Qantas Points they collect through frequent travel; the membership fees are also being raised by the equivalent amount in points in what adds up to as much as 17% — from 308,000 to 399,900 to lock in access for four years.

Airline says hikes will 'cover cost increases passed on from suppliers'

"This is the first time the Qantas Club membership fees have increased in seven years and will help cover cost increases passed on from a range of suppliers over that time," a Qantas spokesperson confirmed to Simple Flying. "This follows a reduction in the membership fees for several years during the pandemic."

The spokesperson said the gains from the increases will go both towards making up for inflation-related costs and keeping existing lounges looking modern by updating features like furniture and décor.

While the price increases also do not apply for those who earned lounge access through frequent flyer status or change what it takes to earn that status, Qantas is also introducing even steeper increases for those renewing a membership or adding additional features such as spouse and partner memberships.

In some cases, the cost of these features will nearly double from what members are paying now.

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Star Wars icon gives his support to Disney, Bob Iger

Disney shareholders have a huge decision to make on April 3.

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Disney's  (DIS)  been facing some headwinds up top, but its leadership just got backing from one of the company's more prominent investors.

Star Wars creator George Lucas put out of statement in support of the company's current leadership team, led by CEO Bob Iger, ahead of the April 3 shareholders meeting which will see investors vote on the company's 12-member board.

"Creating magic is not for amateurs," Lucas said in a statement. "When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger’s leadership. When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better. I remain a significant shareholder because I have full faith and confidence in the power of Disney and Bob’s track record of driving long-term value. I have voted all of my shares for Disney’s 12 directors and urge other shareholders to do the same."

Related: Disney stands against Nelson Peltz as leadership succession plan heats up

Lucasfilm was acquired by Disney for $4 billion in 2012 — notably under the first term of Iger. He received over 37 million in shares of Disney during the acquisition.

Lucas' statement seems to be an attempt to push investors away from the criticism coming from The Trian Partners investment group, led by Nelson Peltz. The group, owns about $3 million in shares of the media giant, is pushing two candidates for positions on the board, which are Peltz and former Disney CFO Jay Rasulo.

HOLLYWOOD, CALIFORNIA - JUNE 14: George Lucas attends the Los Angeles Premiere of LucasFilms' "Indiana Jones and the Dial of Destiny" at Dolby Theatre on June 14, 2023 in Hollywood, California. (Photo by Axelle/Bauer-Griffin/FilmMagic)

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Peltz and Co. have called out a pair of Disney directors — Michael Froman and Maria Elena Lagomasino — for their lack of experience in the media space.

Related: Women's basketball is gaining ground, but is March Madness ready to rival the men's game?

Blackwells Capital is also pushing three of its candidates to take seats during the early April shareholder meeting, though Reuters has reported that the firm has been supportive of the company's current direction.

Disney has struggled in recent years amid the changes in media and the effects of the pandemic — which triggered the return of Iger at the helm in late 2022. After going through mass layoffs in the spring of 2023 and focusing on key growth brands, the company has seen a steady recovery with its stock up over 25% year-to-date and around 40% for the last six months.

Related: Veteran fund manager picks favorite stocks for 2024

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