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WeWork plans to file for bankruptcy as early as next week, source says

reuters.com

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Re: WeWork plans to file for bankruptcy as early as next week, source says

#21

Post by fsckboy »

tharkun__ wrote: post #18
fsckboy wrote: post #15

Earlier quoted context omitted.

cause of final death: killed "from Covid", not "with Covid". I just want back the economy that could keep WeWork afloat.

You want mandatory return to office? Really?

>You want mandatory return to office? Really?

I have absolutely no reason to leave my house, and my intellectual tendencies keep me occupied without any other people around. Personally? I would welcome a staffed office to go to. I go to coffeeshops (with the other regulars) and it's nice but it's not the same

Re: WeWork plans to file for bankruptcy as early as next week, source says

#22

Post by fsckboy »

mkwarman wrote: post #20
tharkun__ wrote: post #18

Earlier quoted context omitted.

You want mandatory return to office? Really?

I think it's likely they were literally referring to the economy rather than return to office, considering WeWork stands only to lose when employees work from their employer's office

yes, I was, motivated by my extensive studies in the dismal science and finance, and my stock portfolio :)

Re: WeWork plans to file for bankruptcy as early as next week, source says

#23

Post by xyst »

Good. Now all of that commercial real estate can be picked up on the cheap. With the multibillion dollar initiative from the government to convert single zoned commercial space into mixed use space, this is a perfect opportunity for developers.

[1] https://www.whitehouse.gov/cea/written-materials/2023/10/27/...

Re: WeWork plans to file for bankruptcy as early as next week, source says

#24

Post by xyst »

api_or_ipa wrote: post #6

Pretty sad. I hope someone picks up the pieces and keeps the company going. Say what you will about the company and it's leadership, but WeWork as a service was splendid. Yes, there's lots of other short-term office providers, but I never found a competitor that executed on the vision of a world-wide lattice of places from which to work. Having a place to work vastly opened up my vacation cycles. Instead of travellin…

Hope not. Those co-working spaces were a disaster.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#25

Post by athrun »

api_or_ipa wrote: post #6

Pretty sad. I hope someone picks up the pieces and keeps the company going. Say what you will about the company and it's leadership, but WeWork as a service was splendid. Yes, there's lots of other short-term office providers, but I never found a competitor that executed on the vision of a world-wide lattice of places from which to work. Having a place to work vastly opened up my vacation cycles. Instead of travellin…

I agree the global experience WeWork provides is really unique.

The question is whether that product would have ever been sustainable—had the company been better managed.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#26

Post by christophilus »

JumpCrisscross wrote: post #16
api_or_ipa wrote: post #6

Pretty sad. I hope someone picks up the pieces and keeps the company going. Say what you will about the company and it's leadership, but WeWork as a service was splendid. Yes, there's lots of other short-term office providers, but I never found a competitor that executed on the vision of a world-wide lattice of places from which to work. Having a place to work vastly opened up my vacation cycles. Instead of travellin…

> hope someone picks up the pieces and keeps the company going WeWork is considering filing for Chapter 11 protection. They're not going for liquidation.

Not many people understand what that means. I remember Romney saying that GM needed to go through bankruptcy (meaning chapter 11) back when he was running for president. He got crucified for saying that, but he wasn’t wrong, and iirc, they did end up in chapter 11.

Hopefully, WeWork restructures successfully. I’ve really enjoyed the few I’ve visited, and I think there’s a real business under all the nonsense.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#27

Post by hx8 »

ssalka wrote: post #13
VirusNewbie wrote: post #3

Earlier quoted context omitted.

Buildings like WeWork have always existed. I remember being a teen and being shown the new 'office concept' in the early 2000s where you could just tap into an office buildings internet infrastructure so you didn't need to rent your own T1 lines, you'd get a phone system and fax machines and all that for one flat fee. If WeWork goes bankrupt, the investors will get wiped out but some other company will buy the buildi…

Good context to share. I'm on the younger side, so when I entered the work force I think basically WeWork popularized this concept beyond what it had been. At least, it was the first place to expose me to that kind of work environment, which previously I was unaware had existed.

They did have a larger marketing budget than any other company offering their services.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#28

Post by cowsandmilk »

mkwarman wrote: post #20
tharkun__ wrote: post #18

Earlier quoted context omitted.

You want mandatory return to office? Really?

I think it's likely they were literally referring to the economy rather than return to office, considering WeWork stands only to lose when employees work from their employer's office

In their 2019 S-1, WeWork stated 40% of their memberships were from companies with over 500 employees. For many companies, moving to remote did mean terminating WeWork memberships.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#29

Post by JumpCrisscross »

christophilus wrote: post #26
JumpCrisscross wrote: post #16

Earlier quoted context omitted.

> hope someone picks up the pieces and keeps the company going WeWork is considering filing for Chapter 11 protection. They're not going for liquidation.

Not many people understand what that means. I remember Romney saying that GM needed to go through bankruptcy (meaning chapter 11) back when he was running for president. He got crucified for saying that, but he wasn’t wrong, and iirc, they did end up in chapter 11. Hopefully, WeWork restructures successfully. I’ve really enjoyed the few I’ve visited, and I think there’s a real business under all the nonsense.

> remember Romney saying that GM needed to go through bankruptcy (meaning chapter 11) back when he was running for president

Investment bankers, being salespeople, solved this in the 80s: companies in chapter 11 are restructuring or reorganizing. Not bankrupt.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#30

Post by [deleted] »

api_or_ipa wrote: post #6

Pretty sad. I hope someone picks up the pieces and keeps the company going. Say what you will about the company and it's leadership, but WeWork as a service was splendid. Yes, there's lots of other short-term office providers, but I never found a competitor that executed on the vision of a world-wide lattice of places from which to work. Having a place to work vastly opened up my vacation cycles. Instead of travellin…

[deleted]
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