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Good morning.
The proliferation of pets during the pandemic was one way workers eased the stress and loneliness of work from home. But what will happen to those animals when people return to the office?
Petco CEO Ron Coughlin has one answer: people should take their pets with them. His company, which saw double-digit growth during the pandemic, is announcing today that it is developing a new playbook and tool kit for pet-friendly offices, including pet runs, gates for maintaining pet-free areas, clean up stations, insurance and more.
“I’m a firm believer that pets helped people get through the pandemic,” Coughlin told me on Friday. “I want to make sure we maintain that bond as people return to the office.” He cites a Petco survey showing that 83% of “pet parents” say their animal friends helped reduce stress during the pandemic, and 53% think bringing a pet to the office would alleviate stress at work. 41% even say they would consider switching jobs to get the perk – meaning it could become one more weapon in the war for talent. “It’s a highly retentive benefit,” Coughlin says.
Many offices buildings, of course, prohibit pets as a matter of policy. But Coughlin points out that in the post-pandemic glut, employers have more leverage over commercial real estate than ever. Why not use it to change pet policy? “If there was ever a time, it is now.”
My apologies to office managers everywhere – including at Coins2Day – for raising this. But Cooper and Remy, my constant home office companions, are excited by the possibilities.
More news below. And for folks wondering how long the stock market can keep up its extraordinary climb, check out the latest from our market historian extraordinaire, Shawn Tully, here. (Note: Shawn’s coverage is available to Coins2Day subscribers only. But all CEO Daily readers should subscribe!)
Alan Murray
@alansmurray
[email protected]
TOP NEWS
Bitcoin reversal
Bitcoin is a threat to financial stabi…sorry, it's an "investment alternative." China's central bank just adopted a significant shift in tone about the leading cryptocurrency, in comments that industry insiders are calling "progressive." The news gave Bitcoin a little lift after its slump in recent days. CNBC
Sportsball latest
In what is shaping up to be one of the biggest dramas of this week (we can but hope), a dozen top soccer clubs from England, Italy and Spain have announced a breakaway "Super League." Entry into said league would be automatic for its founding members, rather than being based on merit. Livid fans smell greed and politicians across the EU are slamming the idea. Daily Mail
J&J pause
Turns out that U.S. Health authorities recommended pausing the J&J vaccine rollout—as opposed to just warning people about the possible blood-clot risk—because they were worried doctors would otherwise try to treat the rare clots with inappropriate measures. Wall Street Journal
Tesla crash
Two people died in a Tesla crash where, authorities say, no-one was behind the wheel. Tesla warns customers that its "Autopilot" system isn't actually an autonomous-driving program and they should remain ready to take control. Seems that didn’t happen here. Coins2Day
AROUND THE WATER COOLER
Wirecard fallout
Popcorn at the ready: this week the German parliamentary hearing into the Wirecard scandal will question both Chancellor Angela Merkel and Finance Minister Olaf Scholz, who is the SPD party's candidate to succeed Merkel in September's federal election. Scholz in particular may have reason to worry, as the regulators who failed to regulate Wirecard were supposedly under his watch. Meanwhile, Germany's surging Greens have announced their candidate, Annalena Baerbock, which means Merkel's successor could also be a woman. Financial Times
mRNA rules
The pandemic has certainly given messenger RNA vaccine technology time to shine, and experts expect it to be applied in many other areas, too. There are challenges, such as temperature stability and price, but "these are problems that can be solved," says Penny Heaton, chief executive officer of the Bill & Melinda Gates Medical Research Institute. Coins2Day
Canadian Astra
Ontario is to broaden access to AstraZeneca's (non-mRNA) COVID vaccine, offering it to people aged 40 or older. This goes against the current advice from Canada's National Advisory Council on Immunization, which says it should only go to people aged 55 or older. Health Canada, however, says there should be no restrictions. Reuters
Credit unions
Community-based credit unions are crucial to building racial equity in access to financial services, but they need more resources and support. So writes NerdWallet CEO Tim Chen in a piece for Coins2Day: "That’s where corporate America can help. Companies of all sizes can make a meaningful difference by doing the same things they’re already doing today, just slightly differently. They can transfer a portion of their banked dollars into credit unions that fairly support people in low-income communities." Coins2Day
This edition of CEO Daily was edited by David Meyer.
