Toll Brothers CEO on How COVID-19 Has Changed Housing

(Miss this week’s Leadership Brief? This interview below was delivered to the inbox of Leadership Brief subscribers on Sunday morning, Jan. 10; to receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.)

The housing market is one of the starkest examples of the disparate impacts of the pandemic on America’s citizens. In August, the Aspen Institute released a report that estimated 30 million to 40 million Americans were at risk of eviction in coming months “in the absence of robust and swift intervention.” Yet overall, the housing market is booming as affluent, dual-income households take advantage of historically low interest rates (2.85% for a 30-year fixed-rate loan) and newfound flexibility to work from home—and perhaps move into spacious new homes with easy access to the outdoors.

At Toll Brothers, one of the nation’s largest home builders, demand has been surging since May.

Read More

ASID’s CEO Departs, GE Lighting Acquired by Savant, and More News This Week

From significant business changes to noteworthy product launches, there’s always something new happening in the world of design. In this weekly roundup, AD PRO has everything you need to know.

Business

Savant to Acquire GE Lighting

Smart home tech company Savant Systems, Inc. made waves this week by announcing that it had inked a deal to buy General Electric Lighting. Savant plans to capitalize on GE Lighting’s brand name while expanding its products’ capabilities thanks to their own technologies. The news also marks a notable divestiture for American mega-company GE.

Home Furnishings Startup Closes Major Funding During COVID-19 Crisis

Fernish, the Los Angeles startup that rents home furnishings, recently closed its Series A round of funding amid the COVID-19 crisis. The company raised $15 million via round participants including RET Ventures; Spencer Rascoff, a cofounder of Zillow; and Fred Tuomi, former CEO of home-rental company Invitation Homes. The startup,

Read More