The New Rules for Night Owl Workers

WSJ said:
Christopher Gang was hired in April 2020 as a software engineer at a health-care tech startup called Cured. Since college, he has done his best work late at night. In his new, fully remote role, with no office commute, he embraced this fact for the first time in his professional life.

“My sweet spot is 2 or 3 in the morning, but if I get into a flow state, I’ll just let myself stay up until 6 or 7 a.m.,” says the 24-year-old, who lives in Dallas. But he kept his night-owlishness to himself for about three months. “Even if I was working late, I wouldn’t communicate that per se,” he says. He believes a stigma exists against late risers that can affect their professional standing. “But once I gained the trust of my manager, I was allowed to be more flexible.” Now he openly burns the midnight oil and doesn’t worry if his colleagues know.

In our age of remote work, many jobs have never been so untethered from the 9-to-5 paradigm. And a lot of night owls, who do their best work later in the day, are thriving.

But it’s not quite a 24/7 free-for all. Many newly liberated late workers like Mr. Gang are navigating how to balance their habits with bosses and colleagues who work on more traditional daytime schedules. They’re also trying to avoid burnout themselves.

Being a night owl isn’t just a personal preference. People really have different chronotypes, or tendencies to be more wakeful at certain stretches of the day, based on their bodies’ circadian rhythms. A 2020 study of 8,395 Chinese people found that about 17% of them exhibited “evening” chronotypes, and 11% exhibited “morning” ones. Other studies from the U.S., Saudi Arabia, and the Czech Republic reveal a similar skew of more night owls than morning larks in any given population.

The past year of pandemic-induced lockdowns and stay-at-home orders around the world has created a “real-life experiment that’s amazing to observe,” says Elise Facer-Childs, a sleep researcher at Monash University in Melbourne, Australia. “In general, what we’ve been seeing is that, when people are given more flexibility,

they shift their schedules a little bit later,” she says. She says a lot of her work entails raising awareness about chronotype differences, to which traditional office schedules can sometimes be hostile. Many once-suffering workers say that the past year has been a relief. Megan Ingram, a digital strategist in Washington, D.C., and lifelong night owl, says that late-night strategy sessions last summer gave her the courage to launch her own consulting firm in September. “Days can be hectic with meetings, so I do a lot of creative heavy lifting at night,” she says. “After I spent a few late nights writing a business plan, the dominoes fell from there.”

Many other pandemic-era night owls are parents, especially those of young children, who appreciate the ability to work late in the age of remote schooling and diminished day care.

“I had a daughter right before the pandemic started, so my night-owl tendencies came in handy to take some of the load off my partner,” says Jeffrey Baker, a voice actor and animator in Kennesaw, Ga., who started working remotely in March. He says he has been honest with his superiors at a casino company where he works as an animator about both his schedule preferences and daytime childcare responsibilities. “They know that I’m doing my work mostly at night,” he says. His peak working hours are from 10 p.m. to 2 a.m.

Mr. Gang, in Dallas, adds that being a good night-owl employee has a learning curve, and keeping up appearances with co-workers is important. “For a couple of meetings early on, I may have woken up just a few minutes before, after pulling a late night and clearly still had this ‘sleep fog’ in my face in our video meetings,” he admits. “Now I know that if I have my first meeting at 11 or 12, I’ll get up an hour before and allow myself time to freshen up and drink coffee.”

For night owls whose meetings tend to start earlier than noon, adding one’s preferred evening work hours to a full slate of daytime meetings with colleagues and constant Slack messages may cre- ate longer work days than ever. Ms. Ingram avoids emailing late at night so that her clients don’t expect her to be constantly available.

Some late risers will have to face the opposite problem when they return to traditional offices in the post-vaccine world. For them, it’s not impossible to readjust the body clock, says Dr. Facer-Childs, the sleep researcher. She helped run a 2019 study on 22 night owls and managed to shift their sleep cycle back by about two hours over the course of three weeks with simple changes like an early breakfast. Most subjects found that the first week is the hardest, Dr. Facer-Childs says.

I for one—an incorrigible night owl who finished my draft of this column around 11 p.m.—will be keeping that in mind.


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Quarantine has meant flexibility for people who work best late in the day.
 
The host of a radio program about the farmers' protests in India noted that while half of Indians make a living from agriculture, agriculture accounts for only 20% of India's GDP. If that's not a nice illustration of economic inequality, I don't know what is.
 
The host of a radio program about the farmers' protests in India noted that while half of Indians make a living from agriculture, agriculture accounts for only 20% of India's GDP. If that's not a nice illustration of economic inequality, I don't know what is.
Could it also just show that Indian agriculture is not very efficient or mechanized. More akin to how the US was 100 years ago? Ag workers in the US dropped from 12 million to 3 million from 1900 to 1950 as output and productivity increased. In 2017 the added value per ag worker in the US was ~$70,000. In India in 2017 it as about $1000.

Pretty thorough site on ag all over the world.
https://ourworldindata.org/employment-in-agriculture
 
Could it also just show that Indian agriculture is not very efficient or mechanized. More akin to how the US was 100 years ago? Ag workers in the US dropped from 12 million to 3 million from 1900 to 1950 as output and productivity increased. In 2017 the added value per ag worker in the US was ~$70,000. In India in 2017 it as about $1000.

Pretty thorough site on ag all over the world.
https://ourworldindata.org/employment-in-agriculture
Yes, it definitely shows that too much of India's workforce relies on agriculture. As you suggest, wealth inequality in the US way back when was pretty bad, maybe worse than it is today.
 
Yes, it definitely shows that too much of India's workforce relies on agriculture. As you suggest, wealth inequality in the US way back when was pretty bad, maybe worse than it is today.
So are you saying that the percent of the workforce engaged in agriculture is a predictor of economic/wealth inequality? Correlation? Causation? Illustration?
 
So are you saying that the percent of the workforce engaged in agriculture is a predictor of economic/wealth inequality? Correlation? Causation? Illustration?
Just illustration. The 50%-20% dichotomy is tidy. I forget the wealth-inequality metric for the US. It's like 10% of the people control 70% of the wealth, and the bottom half own 1%, or something like that, and I don't know if it breaks down neatly along economic sectors.
 
Asda: How to buy a £6.8bn supermarket for £780m

The Issa brothers, two entrepreneurs from Blackburn who made billion-pound fortunes running petrol stations, have completed the deal to buy Britain's third-largest supermarket chain, Asda, from Walmart.
Asda was valued at £6.8bn, but the brothers and the investment firm TDR Capital paid just £780m.
This kind of deal is called a leveraged buyout - which means that it involves large amounts of debt.
TDR Capital specialises in this kind of deal. It is also co-owner of EG Group, the worldwide petrol station business which built the brothers' fortune, and which also has large borrowings.
The Issas and TDR each contribute half of the £780m in cash to Asda's former owners, Wal-Mart, which has owned Asda since 1999.
Most of the purchase price - just under £4bn - will be borrowed.
Walmart, the American supermarket which owned Asda for the past 21 years, will retain a small stake in Asda, for £500m, along with a seat on Asda's board.
Then the new owners will sell off parts of Asda to raise the rest of the purchase price.
Asda will sell its warehouses and distribution system for £950m. It will still use them, but in future, it will have to pay rent to their new owners.
And Asda's 323 petrol stations will be sold for £750m to EG Group, adding to the portfolio of more than 6,000 around the world.

Businesses with big debts pay much less tax on their profits. They can deduct the interest payments from their profits before calculating how much tax to pay, which reduces their corporation tax bill.
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Citigroup accidentally pays off debt early, judge rules that it is a valid transfer

A United States federal judge on Tuesday said banking giant Citigroup Inc is not entitled to recoup hundreds of millions of dollars of its own money that it mistakenly wired to the lenders of a cosmetics company.
US District Judge Jesse Furman in Manhattan said the August 11, 2020 wire transfers to lenders of Revlon Inc at issue were “final and complete transactions, not subject to revocation”, calling the mistake “a banking error of perhaps unprecedented nature and magnitude”.

The case stemmed from an incident where Citigroup, acting as Revlon’s loan agent, wired $893m to Revlon’s lenders, appearing to pay off a loan not due until 2023.
Citigroup had intended to send a $7.8m interest payment, and blamed human error for the gaffe.
Some lenders returned money they were sent, but 10 asset managers including Brigade Capital Management, HPS Investment Partners and Symphony Asset Management refused, prompting Citigroup’s lawsuit to recoup the estimated $501m they received.

“The non-returning lenders believed, and were justified in believing, that the payments were intentional,” Furman wrote. “To believe otherwise – to believe that Citibank, one of the most sophisticated financial institutions in the world, had made a mistake that had never happened before, to the tune of nearly $1bn – would have been borderline irrational.”​
 
Somebody messed up big time... :lol:
 
https://www.rte.ie/news/business/2021/0219/1198044-ulster-bank-ireland/
Ulsterbank in Ireland is to wind down its operations and return the capital to it's UK parent Natwest.

It has been operating here since before independence, but was never as big as the main two, and while profitable, wasn't profitable enough, so the parent is going to sell the loans, sell some other operations if it can, and wind down.
 
Uber drivers are workers not self employed in the UK

Ride hailing app firm Uber must classify its drivers as workers rather than self-employed, the UK's Supreme Court has ruled.
The decision means tens of thousands of Uber drivers are set to be entitled to minimum wage and holiday pay.
The ruling could leave Uber facing a hefty compensation bill, and have wider consequences for the gig economy.
In a long-running legal battle, Uber had appealed to the Supreme Court after losing three earlier rounds.

Delivering his judgement, Lord Leggatt said that the Supreme Court unanimously dismissed Uber's appeal that it was an intermediary party and stated that drivers should be considered to be working not only when driving a passenger, but whenever logged in to the app.
The court considered several elements in its judgement:
  • Uber set the fare which meant that they dictated how much drivers could earn
  • Uber set the contract terms and drivers had no say in them
  • Request for rides is constrained by Uber who can penalise drivers if they reject too many rides
  • Uber monitors a driver's service through the star rating and has the capacity to terminate the relationship if after repeated warnings this does not improve
Looking at these and other factors, the court determined that drivers were in position of subordination to Uber where the only way they could increase their earnings would be to work longer hours.

"This is a win-win-win for drivers, passengers and cities. It means Uber now has the correct economic incentives not to oversupply the market with too many vehicles and too many drivers," said James Farrar, ADCU's general secretary.
"The upshot of that oversupply has been poverty, pollution and congestion."

"It took us six years to establish what we should have got in 2015. Someone somewhere, in the government or the regulator, massively let down these workers, many of whom are in a precarious position," he said.
"We're seeing many of our members earning £30 gross a day right now," he said, explaining that the self-employment grants issued by the government only cover 80% of a driver's profits, which isn't even enough to pay for their costs.
"If we had these rights today, those drivers could at least earn a minimum wage to live on."​
 
$15 Minimum wage getting kicked out of the COVID bill, but could come in the budget

The House is moving ahead with a vote on the $1.9 trillion Covid-19 stimulus plan on Friday as a ruling by a Senate official made it unlikely that the measure will include a minimum wage hike to $15.
US senators mull tax hike for firms without $15 minimum wage

Two Senate committee chiefs are looking at ways to raise taxes on companies paying workers less than $15 an hour

“In the coming days, I will be working with my colleagues in the Senate to move forward with an amendment to take tax deductions away from large, profitable corporations that don’t pay workers at least $15 an hour and to provide small businesses with the incentives they need to raise wages,” Sanders said in a statement.

Targeting only large, profitable companies could help assuage concerns from some moderate Democrats who are hesitant to support large-scale tax increases. The tax-hike play is likely to qualify under the reconciliation rules, which require all elements of the bill have a direct fiscal impact.

Still, Democrats don’t universally support a $15 an hour wage requirement. Senators Joe Manchin of West Virginia and Kyrsten Sinema of Arizona said they wouldn’t vote for a bill with the provision as written included.
I wonder how frequently we shall read the bolded over next few years.
 
The Republicans are so thoroughly rightwing we have to smash two or three economically incompatible parties into the Democrats.
 
Another strategy is to raise the federal minimum wage to $15, putting pressure on the non federal sector. I like the idea of higher taxes for profitable large businesses that don't pay $15 minimum.
 
Another strategy is to raise the federal minimum wage to $15, putting pressure on the non federal sector. I like the idea of higher taxes for profitable large businesses that don't pay $15 minimum.
I like the general idea, but is not the way to run a business these days to not turn a profit until you have market dominance, and so not pay any tax until you own the world anyway?
 
Yes, it definitely shows that too much of India's workforce relies on agriculture.

That is inaccurate. It shows that power underpays for food.
 
I like the general idea, but is not the way to run a business these days to not turn a profit until you have market dominance, and so not pay any tax until you own the world anyway?
The larger issue of corporate taxation andprofits is more complicated and challenging. My post was a narrow one about eliminating certain deductions for those large companies that pay less than $15 per hour. I think you have to look at two things: hourly wage and benefit package. In the last company I ran we had about 40 employees and $30 million + in sales. The average hourly wage was about $10 but our benefit package added $4-5 per hour (paid health ins; paid leave, paid vacation, 5% 401k contribution).
 
My post was a narrow one about eliminating certain deductions for those large companies that pay less than $15 per hour.
My post was a snide comment that amazon, google and uber pay no taxes anyway, so there is not much to deduct.
The average hourly wage was about $10 but our benefit package added $4-5 per hour (paid health ins; paid leave, paid vacation, 5% 401k contribution).
From this side of the pond of course the health insurance is different but expected. But to consider annual leave and sick pay as additions to the pay rate like this sounds very odd.

When you say average, I assume you mean mean? Mean is a poor way of describing a skewed distribution. I wonder what the median was?
 
That is inaccurate. It shows that power underpays for food.
Well, I think (good) food should be inexpensive, for the consumer, so it shouldn't be a big part of a modern economy, imo. A quick Google search shows that agriculture is something like 5% of US GDP, compared to that 20% figure for India. So it seems like that 50-20 split is both illustrative of (worse) wealth inequality and that too much of India's GDP is in agriculture. What I don't know is why so much of India's workforce is still in agriculture, compared with the United States. I assume it's either less efficient or there aren't enough jobs in more lucrative sectors. Another quick bit of Googling shows that 10% of the US workforce is in agriculture, so the imbalance is better here than there, 10%-5% vs 50%-20%. It's still an imbalance, but not as severe (and I have no idea what the 'ideal' ratio would be, but I suppose the lower, the better). A 3rd Google search shows that the Worldbank estimates the pct of the global workforce in agriculture at 26.5%, so India is way below average on that metric.
 
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