Economics/Geekonomics

Cuts In London Banking Jobs

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OK, it’s not exactly geeky on the surface, but man are there some cuts coming in the banking jobs in London.

I bring this up for a few reasons:

  • Holy cr@p that’s a lot of jobs.
  • It’s a reminder banking cuts aren’t just in New York.
  • It’s a reminder the UK is not as isolated as we often treat it.
  • It’s a reminder financial problems are not just, well . . . Greece.

– Steven Savage

Economics, Airlines, And Education

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Admittedly the “economics of airlines” doesn’t sound like exact fan-to-pro stuff here, except for travel and airline model fanatics, the Washington Monthly has a fascinating deconstruction of the continuously stupid state of airlines in the US that’s worth reading.

As opposed to analyzing the article – which stands on its own – I’d like to say “more of this, please” and note that, like it or not, this is stuff you should be reading.

Yes, this is a plea for you, my fellow geeks, to get a hell of a lot more into economics.

No, it doesn’t look easy. Yes, it can be obscure. Yes, it can be depressing. But understanding economics is vital to your survival. Face it, we live in a time where a presidential candidate can claim responsibility for a program he opposed, so it’s time to pay attention. ).

If you’re not into economics like I am, then there’s two things to remember:

  • Economics affects stuff you like. For instance if you do travel a lot, the Washington Monthly article really IS useful.
  • Economics lets you succeed.
  • This affects your survival, so Read Or Die.

One of those ought to motivate you.

That’s why I treasure articles like that deep analysis as I learn from it – because I do travel and have an interest in that part of the economy. It’s something that pertains to my interests, gives me ideas on success (I certainly know to watch airports now for my travel plans), and it helps me prepare for what will probably be some inevitable upheaval in airlines. Again.

– Steven Savage

Ikea To Sell Electronics?

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It starts in Europe, but you know it’ll expand.

So it appears that Ikea is starting with a specialty-manufactured TV in China, and Magnus Bodesson, the guy in charge of living rooms (and who’s name may be as cool as Baldur Bjarnson and Richard Baldovin) notes the advantages Ikea has in pricing.

Ikea selling electronics actually makes sense:

  • They have the floorspace and warehouse space.
  • They do a lot of home elements that aren’t furniture despite their image as a furniture company.
  • They already promote their furniture with mockups of TVs, etc. in their stores anyway – and as they sell “complete sets,” electronics plays into it.
  • They have insanely huge reach.

So I’m pretty sure they’ll prototype this, it’ll work or break even, and they’ll go and try more.  You know who gets in trouble?

Best Buy.

Ikea could, with relative ease, throw in a lot of basic electronics and home goods.  They could do their own brands/rebrands, but it might also be easier to use local/popular brands.  They have a supply chain that works.  They have money.  People are already in a shopping mood when they come in.

So if they start moving TV’s and other home devices, Best Buy is the one that takes the big hit in my opinion.  Admittedly it’d probably take Ikea awhile to ramp this up (1-3 years), so there’s a chance for Best Buy to implode on its own.  But if they’re still playing in the home electronics space, this could be a finishing blow.

I never saw Ikea getting into this space.  Makes me wonder what else I’m missing . . .

– Steven Savage