Operator
Thank you everybody for joining us, and welcome to SL Green Realty Corp. s Second Quarter 2021 Earnings Results Conference Call. [Operator Instructions]
At this time, the Company would like to remind listeners that during the call, management may make forward-looking statements. You should not rely on forward-looking statements as predictions of future events as actual results and events may differ from any forward-looking statements that management may make today. All forward-looking statements made by management on this call are based on their assumptions and beliefs as of today. Additional information regarding the risks, uncertainties and other factors that could cause such differences appear in the risk factors and M&A section of the company s latest Form 10-K and other subsequent reports filed by the Company with the Securities and Exchange Commission.
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U.S. companies spend billions on stay-at-home tech, boding ill for office properties
Reuters | Jul 01, 2021 04:24 PM EDT
Downtown San Francisco is seen from California Street during Day One of the citywide shelter in place order amid the outbreak of coronavirus disease (COVID-19), (Photo : REUTERS/Stephen Lam)
As the U.S. economy reopens, ramped-up corporate spending on video systems and plans to increase shared workspace suggests hybrid work is here to stay, potentially weighing on commercial property prices in New York, San Francisco and other major cities.
After jumping in the wake of the pandemic, sales of tech for facilitating remote work continues to trend higher. Retail sales of USB cameras and computer microphones rose 77% and 36% each from March to May from the same period last year, after doubling from those months in 2019, according to market research firm NPD Group.