Wednesday morning news drop
Construction industry fears a skilled-trades shortage Like so many other sectors, the trades are not immune from the wave of baby boomers set to retire in the coming decade, adding urgency to the recruitment of younger and underrepresented people, those in construction say. (Globe and Mail)
An Agile Approach to Change Management In the wake of Covid-19, organizations are fundamentally rethinking their product and service portfolios, reinventing their supply chains, pursuing large-scale organizational restructuring and digital transformation, and rebuilding to correct systemic racism from the ground up. Traditional change management process won’t cut it. The author borrows from agile software development processes to reinvent the change management playbook. (Harvard Business Review)
Buy the Dip If the stock market had a mantra, it would be “buy the dip.” Today, millions of market participants repeated this over and over again. Today, the S&P 500 was down nearly 2% at its low point, but it stormed a late comeback to finish positive. This sort of move has happened on 121 other occasions since 1970, or 1% of all days. But what’s more interesting than how often they happen is where they happen. (Irrelevant Investor)
An inside look at ESG ratings and why they should matter to you As interest in sustainable investing has grown, so too have the number of companies that now receive environmental, social and governance (ESG) ratings. Sustainalytics, a Morningstar company and a globally recognized provider of ESG research, ratings and data, has been continually focused on expanding its research, with coverage that’s climbed to over 12,000 companies today. (Bloomberg)
Why Most Entrepreneurs Aren't Delegating Effectively You might be wondering why delegation is so important in the first place. After all, if you're running a small business, you might be perfectly capable of handling most of the work by yourself. (Entrepreneur)
The American dream is now in Denmark A conversation with Danish businessman Djaffar Shalchi about why he wants to make rich people like himself pay more in taxes (The Ink)
Four Reasons Not to Worry About U.S. Inflation The economy is a long way from capacity, inflation is slow-moving, inflation expectations are well-anchored, and the Fed has tools to keep inflation in check. (Bloomberg)
Hipgnosis Is Buying Music Libraries — and Plans to Spend $1 Billion More A former music manager’s company has acquired more than 100 publishing catalogs, including a 50 percent stake in Neil Young’s, as well as hits performed by Rihanna and Shakira, and is eyeing a $1 billion-plus deal pipeline. (Hollywood Reporter)
The Psychology Behind the Boom in Collectibles The boom in collectibles doesn’t make sense if you’re thinking exclusively from the rational part of your brain. But most people don’t think exclusively from the rational part of their brain. (Wealth of Common Sense)
Cutting down forests: what are the drivers of deforestation? Since the turn of the millennium, the world has been losing around 5 million hectares of forest every year. Nearly all of this occurs in the tropics; almost half of all deforestation takes place in Brazil and Indonesia. Three-quarters is driven by agriculture. Beef production is responsible for 41% of deforestation; palm oil and soybeans account for another 18%; and logging for paper and wood across the tropics, another 13%. These industries are also dominant in a few key countries. Effective solutions will be focused on these agricultural activities and those countries where most deforestation occurs. (Our World in Data)
