Hints and tips:
...He worked closely with Adam Neumann when WeWork was struggling to win over investors, and has worked closely with buyers and sellers in tense M&A situations....
...And one thing to start: In addition to Third Point, hedge fund Baupost Group has had preliminary discussions with Adam Neumann’s team about possibly backing a bid for WeWork, the FT reports in this deep...
...One former employee said they believed SoftBank had been too willing to be persuaded by the app’s “very charismatic” founder, Abraham Shafi, who reminded them of WeWork founder Adam Neumann....
...Cocini has been co-head of Bank of America’s global financial institutions group, which will continue to be led globally by Gary Howe, and in Emea by James Gill....
...WeWork finally went public last year through a Spac merger that valued the business at $9bn, far less than the $47bn it originally hoped to achieve under Neumann....
...Since the 2008 crisis, Morgan Stanley has emphasised growth in stable wealth management operations under its soon-to-retire chief James Gorman and has been rewarded by public stockholders....
...Two things to start: WeWork has filed for bankruptcy, a humbling fall for the once high-flying co-working start-up co-founded by Adam Neumann and backed by billions of dollars from Japan’s SoftBank....
...One last windfall WeWork’s bankruptcy could set up its billionaire founder Adam Neumann for a payday worth hundreds of millions of dollars, The Wall Street Journal reports....
...That, said Neumann, was where WeWork came in. Musk impatiently corrected him: the hard part was getting to Mars. Don’t lecture....
...Additional reporting by James Fontanella-Khan in New York *This article has been amended to clarify the status of financial forecasts around an IPO...
...Ares has hired Apollo Global Management veteran James Kim as a partner and head of European special opportunities, based in London....
...“Distributed ledgers are going to help with transparency” and with tracking the purchase and use of credits, says James Cameron, policy adviser at Systemiq, the advisory group....
...Odey Asset Management’s James Hanbury, for instance, shorted Peloton until late last year — wagering its share price would fall — according to documents seen by the FT....
...Neumann can sell up to $500m in shares in the deal....
...The talks are continuing and the exact sum Neumann and others receive could change....
...Here’s a photo of Neumann wearing a “Student For Life” T-shirt just before he and the employees of the co-working business chanted “We . . ....
...Even after the departure of larger-than-life co-founder Adam Neumann in 2019 and his replacement by the more serious Mathrani, WeWork still cultivates the energy of a high-growth start-up....
...(Nikkei Asia) Exclusive: SoftBank spells out the cost of its bitter divorce from WeWork co-founder Adam Neumann....
...The stakes are high enough that New York state attorney-general Letitia James has weighed in....
...The shock and awe of the separation across the media sector was palpable, but few questioned the logic, as the FT’s Nic Fildes and DD’s James Fontanella-Khan report in this Big Read....
...The co-working company also restructured its portfolio and reached a $500m settlement with its ousted co-founder Adam Neumann. Read more here....
...SoftBank agreed to lend Mr Neumann more than $400m to replace a loan he had defaulted on and pay him a $185m consulting fee as part of the emergency bailout....
...A fight between WeWork, investors including Mr Neumann and SoftBank would mark a stunning turn for the group at a time when it is grappling with the fallout from the coronavirus....
...JPMorgan has also lent Mr Neumann nearly $100m, regulatory filings showed. Mr Neumann declined to comment through a spokesperson....
...The bank believed the tender offer overvalued WeWork equity, and acted as a bailout to Mr Neumann, they added....
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