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 […]
As our well-informed readers know, the Wall Street Journal has reported that WeWork expects to file for bankruptcy next week. For now, the WeWork bondholders have entered into a seven-day forbearance of the grace period to declare a default in order to provide additional time for negotiations.
It has been evident for many years that WeWork’s […]
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 […]
I am pleased to pass on the exciting news that Wharton Property Advisors has been selected to join an exclusive international network of real estate agents representing tenants in approximately 70 cities worldwide. This new alliance which we helped create expands our capacity to assist clients in all the major cities and metropolitan areas in […]
For much of the pandemic, it was all the rage to declare the demise of New York City as many successful business people were decamping to Florida and Texas due to their pro-business policies and lack of state income and estate taxes. In contrast, New York was deemed to be an outdated relic.
But let’s take […]
It has been obvious to all for many months that the restoration of both the nation‘s health and its economy is dependent upon a sufficient percentage of the population being vaccinated so that we can get to herd immunity. In addition, it has been equally clear that the pace of vaccinations slowed […]
Our eagle-eyed readers may have taken note of recent press reports of the memo issued by Eric Grossman, chief legal officer of Morgan Stanley directing that its outside law firms representing the company return to the office to improve client service. According to dispatches, the memo suggested that firms continuing to work […]
I have been saying for months that no one size fits all regarding the return to the office. You can book that based on my conversations not only with CEOs, but with many employees in a wide variety of positions in companies. We are at the beginning […]