Business Maverick Op-ed: WeWTF, Part Deux

This was a case of immunities kicking in after the requisite SEC disclosure. As the greater fool theory has hit a wall, We will now need additional capital from the private markets, who are no longer under the influence. The firm will be forced to sell equity/issue debt at a priceWe has gone from unicorn to distressed asset in 30 days.

• Shed/close all non-core businesses. WeGrow and WeLive are vanity projects. As someone close to the firm told me yesterday, they distract Mr. Neumann from the core business, where he was wreaking havoc. Ainvestment in a firm that makes wave pools to indulge Adam’s passion for surfing. Really? Really?• Focus on margin expansion vs. growth. We has a differentiated product in the marketplace, and should command a premium.

• 3-5 new independent directors. Boards have their own dynamic, irrespective of the qualities of the individuals. The members of this board have formidable experience/CVs. Lew Frankfort is a first-ballot Hall of Fame retail exec, and he doesn’t strike me as the type of guy who’d be bullied by the CEO, or anybody else for that matter. Again, I just can’t figure out what the f*ck happened here.

It’s beginning to smell like malfeasance at We. The lines between vision, bullsh*t, and fraud have been crossed here. To be clear, I’m not a journalist, nor a forensic accountant. This is pure speculation based on my experience as a CEO, investor, and director. Something is very, very wrong here. In no specific order:

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: AB InBev’s Asia Unit Opens Higher Despite Gloomy IPO MarketThe Asia-Pacific beer unit of Anheuser-Busch InBev NV gained as much as 2.2% in its Hong Kong trading debut, in a rare bright spot for the dim global market in initial public offerings.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK OP-ED: A DNA test could save your life, but potentially also hand you a life sentenceGenetic testing provides a glimpse into your future. It identifies the elements and environments you should avoid, as it puts your wellbeing at risk. But you could also learn some scary facts, such as the high chance of your developing serious conditions such as early-onset Alzheimer’s or incurable rare cancer. Whether you dare a drive down DNA lane as I did or choose to play the odds of ignorant bliss, genetic screening is life-changing stuff.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Treasury pulls rabbit out of hat with $5bn sale of two international bondsSouth Africa’s Treasury has issued a pair of international bonds to the tune of $5-billion, the largest such transaction out of sub-Saharan Africa. It’s a vote of investor confidence that Finance Minister Tito Mboweni can do with ahead of his medium-term budget speech in October and a looming Moody’s downgrade.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: AB InBev’s Asia Unit Opens Higher Despite Gloomy IPO MarketThe Asia-Pacific beer unit of Anheuser-Busch InBev NV gained as much as 2.2% in its Hong Kong trading debut, in a rare bright spot for the dim global market in initial public offerings.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Unemployment down, but wage growth stagnatesThe rapid growth of technology and automation, the rise of outsourcing, globalisation and uncompetitive labour markets are forcing governments and individuals to reassess the skills they have and the skills they need.
Source: dailymaverick - 🏆 3. / 84 Read more »