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NYC Office Conversions Halted

Wall Street Journal US Business •
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New York City has halted office conversion projects twice this month due to structural concerns. In one instance, a contractor at a lower Manhattan building failed to report cracked concrete beams on the top floor.

Another conversion at the former Pfizer headquarters in Midtown was flagged after two buckled columns were discovered, leading to a city-wide safety sweep. These shutdowns highlight growing worries about the structural integrity of buildings undergoing such transformations.

In other business news, Ford is vying for its largest military contract since the Cold War, aiming to produce around 600 trucks for the Army based on its F-Series super-duty pickups. This pursuit involves competing with GM as the Pentagon seeks to leverage automotive manufacturing for military hardware.

Separately, Cracker Barrel is seeing a leadership change. David Deno, formerly of Bloomin’ Brands, will take over as CEO on August 10th. His predecessor, Gerard Masino, attempted to rebrand the chain, but faced backlash from some diners, leading to a rollback of her initiatives amidst declining sales.