Monday morning briefing: Cineplex’s not-so-excellent adventure

To work from home or not work from home? That is the question. Industry leaders are carefully considering whether to establish more permanent work-from-home arrangements for their employees. Jamie Dimon, CEO of JPMorgan Chase & Co., is leaning toward having staff in the office. He told analysts his firm has seen a drop in productivity in response to employees working from home, and a lack of in-person interaction is hard to replace.

Big tech companies appear to be going in the opposite direction, with a caveat. Some tech companies will allow a permanent work-from-home policy, but salary will be adjusted depending on where the employee lives. As far as employees are concerned, a recent Wells Fargo survey found approximately 66% of respondents would prefer to work from home.

Economic/industry news

The Fed held its key interest rate steady at 0.25%: Fed holds rates steady near zero and indicates it will stay there for years

Canada’s inflation rate 0.1% in August: August inflation rate holds steady at 0.1%, Statistics Canada reports

What a second wave could mean for the economy: Could a second wave mean a second shutdown?

Amazon is on a hiring spree: Amazon is hiring a further 100,000 people to keep up with pandemic-induced demand

A look at the largest wealth managers around the world: World’s top 20 biggest wealth managers

Reasons for hope

The U.S. could get a vaccine before the end of 2020: Pfizer CEO says Americans could get COVID shot before year-end

Cases of COVID-19 trending downward in the U.S.: Positive COVID-19 trends emerge in August across much of the U.S., and elsewhere

Focused on helping entrepreneurs: Marlo Richardson helping people create businesses

Adapting your business

Entrepreneur pivots his business amid the pandemic: How this 24-year-old entrepreneur pulled off a coronavirus pivot before his company even launched

Getting the most out of your IT team: Whether you know it or not, this team in your business needs your attention

Lesson learned; be prepared for any scenario: A new definition of being prepared

Tips to build a successful financial services practice: 5 ways to build a financial services practice

Think like an entrepreneur in times of crisis: We need entrepreneurial leaders now more than ever

Chart of the week: Cineplex’s not-so-excellent adventure

S&P Dow Jones Indices announced Cineplex Inc. will be removed from the S&P/TSX Composite Index on September 21. This adds to a challenging year faced by the theatre operator. COVID-19-induced lockdowns forced Cineplex to close its theatres. Then its planned takeover by Cineworld PLC unraveled. Now, theatres must operate at restricted capacity, while studios are delaying the release of big-budget movies or taking them online via a streaming service. Cineplex’s revenue dropped 95% year-over-year during the second quarter of 2020. Since the beginning of the year, its stock price has dropped 76%. Can the theatre business regain its footing? Let us know what you think.
Used with permission of Bloomberg Finance L.P.