Episode 110

full
Published on:

27th Jan 2023

The US Balls Too Hard, Layoffs on the Rise, Disney Fumbles and Indochino Sucks

The job cuts in the tech industry continue to pile up. Google announced plans to lay off 12,000 people from its workforce, while Microsoft said that it’s letting go of 10,000 employees. Amazon also began a fresh round of job cuts that are expected to eliminate more than 18,000 employees and become the largest workforce reduction in the e-retailer’s 28-year history. The layoffs come in a period of slowing growth, higher interest rates to battle inflation, and fears of a possible recession next year.

In this episode of The Higher Standard, Chris and Saied examine this news and as always, attempt to determine how it affects the economy as a whole.

They discuss a report from the Commercial Observer, based on data from Cushman and Wakefield, which shows that the vacancy rate in the fourth quarter for shopping centers was 5.7 percent, the lowest level in 15 years.

Chris and Saied look at an item from CNN stating that the US hit the debt ceiling set by Congress on Thursday, forcing the Treasury Department to start taking extraordinary measures to keep the government paying its bills and escalating pressure on Capitol Hill to avoid a catastrophic default.


They also offer some thoughts on the unexpected drop in unemployment benefits claims that occurred last week, suggesting a tight labor market, despite higher interest rates.


Join Chris and Saied for this fascinating and informative conversation.


Enjoy!



What You’ll Learn in this Show:

  • The debt ceiling: What it is and why it matters.
  • Why home sales have slumped to a 12-year low.
  • How much of the return to offices is because of executive level productivity vs. morale.
  • The problem with ego and the distorted reality it can create.
  • And so much more...


Resources:

"US hits debt ceiling, prompting Treasury to take extraordinary measures" (article from CNN Politics)

"Google, Microsoft, Amazon and other tech companies have laid off more than 70,000 employees in the last year" (article from CNBC)

"US shopping center vacancy hits 15-year low" (The Real Deal via Instagram)

"The curtain is closing on these Regal theaters in SoCal" (NBCLA via Instagram)

"U.S. home sales slump to 12-year low; glimmers of hope emerging" (article from Reuters)

"U.S. will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress" (article from CNBC)

"Tamer CPI Inflation Rate Should Keep S&P 500 Rallying Until The Fed Meeting" (article from Investor's Business Daily)

"Economists in WSJ Survey Still See Recession This Year Despite Easing Inflation" (article from The Wall Street Journal)

"Inflation isn't coming down without a recession and interest rates will continue to skyrocket, JPMorgan Asset Management investment chief says" (article from Yahoo! Finance)

"Wholesale prices fell 0.5% in December, much more than expected; retail sales fall" (article from CNBC)

"U.S. weekly jobless claims unexpectedly fall" (article from CNBC)

"Google employees scramble for answers after layoffs hit long-tenured and recently promoted employees" (article from CNBC)

"Spotify cuts 6% of its workforce — read the memo CEO Daniel Ek sent to staff" (article from CNBC)

Next Episode All Episodes Previous Episode

Listen for free

Show artwork for The Higher Standard

About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your hosts; Chris Naghibi and Saied Omar here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

About your host

Profile picture for Christopher Naghibi

Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.