Business

Tuesday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.

Hobby Lobby

Hobby Lobby is retroactively paying select employees for lost wages incurred during coronavirus-related pay cuts.

The arts-and-crats store is reimbursing salaried managers and full-time employees for a 10% reduction issued during April and May as a result of state-mandated store closures.

Hobby Lobby saw record sales as people took up crafts to pass time in quarantine.

Work from home

According to a new report from Gensler, only 12% of U.S. workers want to work from home full-time.

With the rise of COVID-19, working from home has become the only option for many businesses to continue operations. However, the survey found that a majority of those working from home are ready to return to an office environment.

A majority of those surveyed said collaboration is difficult from home and nearly 75% said people are what they miss most about the office.

Apartment rent

How has the COVID-19 epidemic affected apartment rents in the last few months? Lower rents and higher use of credit cards, says one national expert.

That’s according to the latest report from MRI Software.

New rent leases have gone down by 5% compared to May last year.

There’s been a big surge in the use of credit cards to pay rent: credit card use in May was 58% greater than that of February 2020, according to MRI.

Truck drivers

Some truck drivers are raising concerns about driving into areas where there are calls for defund the local police forces.

When asked by trucking resource website CDLLife whether and for what reasons drivers might consider refusing a load in an area where the police had been defunded. Many respondents thought they might find themselves at a higher risk of danger.

Campaign to defund police forces – and reallocate fund to social services – have sprung up in cities throughout the country in the wake of George Flloyd’s death.

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