WeQuit: WeWork bonds sink after top executives resign from cash-burning company

[erek]

WeWork Tech company still facing problems even post Adam Neumann

"They're burning cash like crazy: He also called it “effectively a prepackaged bankruptcy, with senior creditors taking control of the company from SoftBank.”

That isn’t how WeWork sees it.

“The debt transaction announced in March strengthened WeWork’s balance sheet, reduced total debt, and enhanced its liquidity with over $1 billion in new funding and new and rolled capital commitments,” a spokeswoman told MarketWatch in a written statement.

“As we have said as recently as earnings on May 9, WeWork is focused on executing its business plan and any suggestion otherwise is categorically false.”"

Source: https://www.marketwatch.com/livecov...rom-cash-burning-company-A18dSzR8pevZqXe7NDg7

 

[HockeyJon]

WeWork might not be a good business or a well run company? Is this real life?

 

[david123]

WeWork might not be a good business or a well run company? Is this real life?

Bullshit happens very often in business, probably more than you think.

 

[HockeyJon]

Bullshit happens very often in business, probably more than you think.

Oh I'm aware, but WeWork has a very famous public history of BS.

 

[staknhalo]

erek Your title should have been "WeWork.... from Home Now You Dummy"

 

[erek]

erek Your title should have been "WeWork.... from Home Now You Dummy"

Quite right, impressive observation

 

[EmerilLIVE]

Being a CPA and toiling away for a paycheck while reading these kinds of stories really makes me wish for a new dot com bubble burst. Constantly reading about some asshole scam artist becoming obscenely wealthy from what appears to me to be an obviously fake business while my younger, newlywed coworker is trying to figure out how he's supposed to be able to afford to buy a house that costs 65% of the national average house price.