Supposedly WeWork will run out of cash perhaps before the new year. The lead financier JP Morgan is also the personal banker of ousted CEO Neumann. Neumann has borrowed hundreds of millions from Morgan and other banks using his stake in WeWorks as collateral.
1 posted on
10/15/2019 1:00:43 PM PDT by
C19fan
To: C19fan
It seemed a pretty dodgy proposition from the get go. Not terribly surprised it didn’t take off. Going to be some pretty hefty losses on this one.
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