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“We regard liquidity mismatches as a major structural flaw.” By Nick Corbishley, for WOLF STREET: Two Irish commercial real-estate mutual funds, with a combined value of around €1.4 billion, have blocked redemptions after … Read more
www.cnbc.com/2020/01/16/wework-leasing-plunged-93percent-in-q4-after-failed-ipo-cbre.html WeWork only signed four new leases in the U.S. in the fourth quarter, as the company reeled in expenses following a SoftBank-led bailout. Total space leased dropped to 184,022 … Read more
WeWork is preparing to cut at least 4,000 jobs in a bid to achieve financial stability and those layoffs could be announced as early as this week, the New York … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Tender Offer Didn’t Happen. Bonds Plunge to Record Low. This comes after WeWork reported a $1.25 billion loss in Q3. Second thoughts about throwing so many … Read more
via WSJ: Are presidential candidate Elizabeth Warren and WeWork founder Adam Neumann the same person? I mean, they have different hairstyles and all, but their philosophies are more alike than … Read more
In less than one year, WeWork went from having a $47 billion valuation and being the darling of the venture capital world to needing an $8 billion infusion to avoid … Read more
We now know exactly how much all the WeWork drama of the past few months cost SoftBank, one of its largest investors. As Investor’s Business Daily reports, SoftBank has reported a quarterly loss of … Read more
by: Ethan Huff (Natural News) Co-working giant WeWork is reportedly suffering massive financial losses that are expected to result in the termination of some 4,000 employees over the next few … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter However many billions of other people’s money your outfit burns, just make sure you walk away a billionaire. SoftBank – the Japanese conglomerate that is the … Read more
The WeWork saga rages on as SoftBank continues to sink money into the office-sharing project. RT Correspondents Faran Fronczak and Rachel Blevins are both on hand today to break down … Read more
www.ft.com/content/ffa49378-f5b4-11e9-a79c-bc9acae3b654 Represents about 30% of the current workforce. Mr Claure added: “But I will promise you that those that leave us will be treated with respect, dignity and fairness. And … Read more
WeWork, the company that is either a transformative way of life or a dangerously overleveraged real estate company posing as a cultish tech firm, is planning on laying off thousands of employees. … … Read more
WeWork, once valued at $47 billion, will be worth as little as $7.5 billion on paper as SoftBank takes control of the struggling co-working business, CNBC reports. SoftBank, a long-time WeWork investor, plans … Read more
via MarketWatch: “WeWork’s board is expected to meet tomorrow to weigh emergency-financing options including a takeover by SoftBank Group Corp. that would slash the co-working company’s valuation to about $8 … Read more
Value is a function of growth and margins. Many/most of today’s unicorns have deployed massive capital to achieve the former while not demonstrating the patience or skill to achieve the … Read more
