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


[H]F Junkie
Dec 19, 2005
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
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.