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I don't have the sources for this atm, but I heard last night that SoftBank doesn't actually have the $9.5B it needs in funding to secure its controlling stake in WeWork. Which means the guy hasn't gotten his $1.7B yet. So Softbank needs funding to buy out the controlling stake in WeWork. They're reaching out to Japan's largest bank, Mitsubishi UFJ, for that $9.5B. As of last night, MUFJ refused to lend money to Soft…
I don't have the sources for this atm, but I heard last night that SoftBank doesn't actually have the $9.5B it needs in funding to secure its controlling stake in WeWork. Which means the guy hasn't gotten his $1.7B yet. So Softbank needs funding to buy out the controlling stake in WeWork. They're reaching out to Japan's largest bank, Mitsubishi UFJ, for that $9.5B. As of last night, MUFJ refused to lend money to Soft…
I don't have the sources for this atm, but I heard last night that SoftBank doesn't actually have the $9.5B it needs in funding to secure its controlling stake in WeWork. Which means the guy hasn't gotten his $1.7B yet. So Softbank needs funding to buy out the controlling stake in WeWork. They're reaching out to Japan's largest bank, Mitsubishi UFJ, for that $9.5B. As of last night, MUFJ refused to lend money to Soft…
SoftBank Seeks $2.8 Billion in Financing From Japan Banks[2]
SoftBank wants to reduce WeWork rescue package[3]
SoftBank Execs Discuss Trimming WeWork Offer and Adam Neumann Payout [4]
[1] https://www.ft.com/content/d69e84c0-0c1b-11ea-bb52-34c8d9dc6...
[2] https://www.bloomberg.com/news/articles/2019-11-21/softbank-...
[3] https://therealdeal.com/2019/11/22/softbank-wants-to-reduce-...
[4] https://www.bloomberg.com/news/articles/2019-11-21/softbank-...
I don't have the sources for this atm, but I heard last night that SoftBank doesn't actually have the $9.5B it needs in funding to secure its controlling stake in WeWork. Which means the guy hasn't gotten his $1.7B yet. So Softbank needs funding to buy out the controlling stake in WeWork. They're reaching out to Japan's largest bank, Mitsubishi UFJ, for that $9.5B. As of last night, MUFJ refused to lend money to Soft…
MUFG likely to turn down SoftBank loan over WeWork[1] SoftBank Seeks $2.8 Billion in Financing From Japan Banks[2] SoftBank wants to reduce WeWork rescue package[3] SoftBank Execs Discuss Trimming WeWork Offer and Adam Neumann Payout [4] [1] https://www.ft.com/content/d69e84c0-0c1b-11ea-bb52-34c8d9dc6... [2] https://www.bloomberg.com/news/articles/2019-11-21/softbank-... [3] https://therealdeal.com/2019/11/22/softban…
The guy is getting $1.7bn. That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000. Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year. This is what late stage capitalism looks like.
Earlier quoted context omitted.
My guess is that it was a forced buyout? The terms of which are always painful for the forcers. As far as the employees go, anyone working for a company clearly not making any money needs to move along. Whatever consequences you suffer are at your own risk. And as far as what this might look like under socialism, the government would take money from people who have nothing to do with any of it and give it to all of t…
This really has nothing to do with socialism.
I'd love to hear from WeWork customers about recent events. Are customers watching this thinking "oh man, I don't know if my workplace will be the same in 6 months, better start looking for alternatives?" Is the atmosphere in their offices any different now?
I'd love to hear from WeWork customers about recent events. Are customers watching this thinking "oh man, I don't know if my workplace will be the same in 6 months, better start looking for alternatives?" Is the atmosphere in their offices any different now?
The running joke in my dept is they're going to start cutting back on amenities (watered down mouthwash, less cut up fruit in the fruitwater, etc.) and we won't see as many maintenance people as we did six months ago.
The private phone booths are still boarded up because of the formaldehyde issue (our booths weren't "affected" but they're still closed off). There was a meeting room with a couch that had bedbugs in it, so that was closed off for a couple weeks. We refuse to use that meeting room now.
WeWork has just had its problem after problem in my time working here. We're not exactly scared (because we're a larger company and could probably just telecommute while our office is moved to another building). But we have noticed that the WeWork associates have become less chipper over time.