Everybody wants to be safe. Apparently, the word is out that it may not be safe on the New York City subways, so Governor Kathy Hochul has stepped into the breach and is providing 1000 New York national guardsmen and state police to check bags at the entrance to major subway stations like Grand Central […]
In another blow to the office industry, co-working giant WeWork finally bowed to the inevitable after a total of $16 billion in losses and filed for Chapter 11 bankruptcy in Newark last night. This was a case that had its origins well before the pandemic, but the trend to remote work hastened WeWork’s fall. The […]
Below is an updated version of my latest Forbes.com column.
Our well-informed readers are likely aware that a couple of weeks ago, WeWork withheld interest payments due on five senior secured notes totaling approximately $95 million. In an 8-K report, WeWork stated that it has a 30-day grace period to make the payments before an event […]
Today WeWork is going public in a transaction that values the company at $9 billion. This is a far cry from the earlier valuation of $47 billion when WeWork proposed its earlier public offering in 2019, but scandal intervened, and the company had to fight for survival. But there is no need to revisit […]
Friday brought the long-rumored news that WeWork is going public in a transaction that values the company at $9 billion. The deal is structured as a merger with BowX Acquisition, a special purpose acquisition company (SPAC).
Following the report in the Financial Times of WeWork’s plan to go public via a SPAC, one wag […]
Recent disclosures regarding WeWork’s cash flow problems include the news that it has hired the law firm Weil Gotshal & Manges as restructuring counsel. This inevitably leads to speculation about the shape of a potential bankruptcy filing if the present negotiations with Softbank regarding a recapitalization or JP Morgan Chase regarding new financing are unsuccessful. […]
Open office plans give the workplace a hip, collaborative vibe. That’s why they’re popular. But the distractions that come with them have some people longing for the days of cubicles. Plus: what a weak dollar does to the economy and we meet one couple navigating an uncomfortable money situation.
WeWork and the other co-working spaces present a tantalizing trade-off for the savvy office tenant who is looking for a bargain or may have a limited budget for rent or a security deposit.
There are significant advantages to WeWork. First, they allow tremendous flexibility by virtue of the month to month leases without any security deposit. […]
