WeWork Files for Bankruptcy Protection: A Stunning Fall from Grace | Enterprise Wired
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WeWork, the once high-flying coworking startup, has filed for Chapter 11 bankruptcy protection in federal court, marking the culmination of a remarkable downfall.
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We work the startup idea that ain't working
IPO had been one of the most highly anticipated public offerings of 2019. The company’s largest investor, SoftBank, is taking control of the struggling company at a valuation $8 billion.
Former CEO and founder Adam Neumann, who will give up most of his stock in the company in exchange for nearly $1.7 billion, including a $185 million consulting fee.
WeWork may not have been able to complete its once-planned IPO, but .pdf
WeWork may not have been able to complete its once-planned IPO, but even so it now has
something that many IPO companies often experience a shareholder class action lawsuit. On
November 4, 2019, a WeWork investor filed a lawsuit in California state court on behalf the
companys minority shareholders as well as on behalf of the company itself. As discussed below,
the shareholder complaint makes a number of interesting allegations and raises some interesting
issues as well.
Background
WeWork is a real estate and office share company. It was founded in 2010. Among its founders
was Adam Neumann, who until recently served as WeWorks CEO. At one time the company had
over 5,000 employees and facilities in over 200 locations around the world. One of the companys
major investors is SoftBank, the multinational investment company led by Masayoshi Son.
In January 2019, WeWork announced that it was rebranding itself as The We Company and
stated its valuation as $47 billion. In August 2019, the company announced its plans to go public.
The company immediately drew sharp public criticism for its governance, share structure, and
finances, among many other things. In September 2019, the company pulled its plan offering.
Shortly thereafter, Neumann resigned his CEO position. At the same time, SoftBank agreed to
take a controlling position in the company in a transaction that valued the company at about $8
billion.
As part of Neumanns termination package, he was given the right to sell a portion of his shares,
worth over $900 million, at the transactions valuation, as part of the planned tender offer.
SoftBank also agreed to repay a $500 million loan from JPMorgan (the bank that had been
picked to lead the companys IPO). The bank also agreed to pay him a $185 million consulting
fee. The Wall Street Journal estimated the total value of his package at $1.7 billion; the paper
also called the package a windfall.
The Lawsuit
On November 4, 2019, a WeWork investor filed a lawsuit in California (San Francisco County)
Superior Court against Neumann, WeWorks board of directors, and SoftBank. The complaint, a
copy of which can be found here, asserts both class action claims on behalf of the companys
minority shareholders and derivative claims on behalf of the company itself. The complaint
asserts claims for breach of fiduciary duty, aiding and abetting breach of fiduciary duty,
corporate waste, as well as for declaratory and injunctive relief.
The gist of the complaint is that Neumann, in concert with SoftBank, used their control of the
company to the benefit of themselves and to the detriment of the minority shareholders and of
the company, and that the companys board aided and abetted this alleged misconduct.
The complaint specifically alleges that Neumann abused his control to extract benefits with a
total value of $1.7 billion. SoftBank allegedly will benefit from its position in the planned
transaction that will allow the company to obtain majority control of the com.
communitee web.com
The document summarizes the background and issues facing CommuniteeWeb, an internet startup company. It discusses:
1) The founders, Dan Pale and Jim Mack, spent $1.6 million to launch the localized internet portal business.
2) By 2001, the economic downturn made funding difficult as the company faced mounting debt and competitors. Cutbacks left only 15 employees on a $75k monthly budget.
3) Conflicts emerged between Mack, employees, and Pale over the changing business plan and cash flow issues, with paychecks being delayed. As issues mounted, Pale was appointed CEO to address the company's survival.
Can we work?
WeWork has copied an old business model, i.e. office leasing, added some tech lingo on it, and enticed venture capital investors into valuing the firm at more than 10x its nearest competitor. The company also burns tons of cash, carries huge risk factors in a recession, and sports some of the worst corporate governance practices. It’s now seen as a startup lesson in what not to do in Silicon Valley.
The future of WeWork is weak, they have too many liabilities. Since their business model doesn’t have good unit economics. Moreover, they cannot also do a successful IPO too to sustain for Softbank
262018 Big Landlords Pile Into Co-Working as WeWork’s Ascent.docx
2/6/2018 Big Landlords Pile Into Co-Working as WeWork’s Ascent Continues - WSJ
https://www.wsj.com/articles/big-landlords-pile-into-co-working-as-weworks-ascent-continues-1516712400 1/5
Co-working is coming of age.
DOW JONES, A NEWS CORP COMPANY
DJIA 24912.77 2.33% ▲ Nasdaq 7115.88 2.13% ▲ U.S. 10 Yr -26�32 Yield 2.804% ▼ Crude Oil 63.92 -0.36% ▼ Euro 1.2374 -0.03% ▼
This copy is for your personal, noncommercial use only. To order presentationready copies for distribution to your colleagues, clients or customers visit
http://www.djreprints.com.
https://www.wsj.com/articles/biglandlordspileintocoworkingasweworksascentcontinues1516712400
MARKETS PROPERTY REPORT
Big Landlords Pile Into Co-Working as
WeWork’s Ascent Continues
Blackstone, Brook�ield and Hines are exploring a wide range of deals with shared-space �irms like
WeWork and Convene
|
A common room inside a WeWork location in San Francisco. PHOTO: MICHAEL SHORT�BLOOMBERG NEWS
Jan. 23, 2018 8�00 a.m. ET
By Peter Grant
2/6/2018 Big Landlords Pile Into Co-Working as WeWork’s Ascent Continues - WSJ
https://www.wsj.com/articles/big-landlords-pile-into-co-working-as-weworks-ascent-continues-1516712400 2/5
Some of the world’s largest landlords, facing weak growth in traditional office rents
and occupancies, are investing heavily in what until recently was viewed as a niche
office business that catered primarily to technology startups and millennials.
A venture of Brookfield Asset Management and Onex Corp.
is negotiating to buy IWG PLC, which has a market capitalization of £2.48
billion ($3.46 billion) and operates co-working facilities as well as more traditional
offices for small and midsize businesses. On Saturday, the U.K.’s Takeover Panel
extended the deadline for the venture to make an offer until Feb. 2. Brookfield declined
to comment on the negotiations.
Meanwhile, Blackstone Group LP last year purchased the Office Group in a
deal that valued the U.K.-based co-working provider at £500 million. Blackstone,
Brookfield and Houston-based Hines also are exploring a wide range of deals with new
shared-space firms like WeWork Cos., IWG, Industrious and Convene.
The new workplace trend “is certainly something we’re spending a lot of time focusing
on in our office space business,” said Rob Harper, head of U.S. asset management at
Blackstone’s real estate group.
Co-working at its
core is a new
name for a
business that has
been around for
decades. Firms
simply lease big
blocks of space from landlords and subdivide it for smaller tenants and provide a range
of office services.
But as the economy began to recover after the 2008 recession, a new set of co-working
companies led by WeWork found surging demand among young workers for densely
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Dewey & le beouf crisis analysis
Dewey & LeBoeuf was formed in 2007 through a merger and grew rapidly through aggressive hiring. However, after the 2008 financial crisis the firm struggled financially. By 2012, 80 partners had left due to poor performance and the firm owed over $300 million. Dewey filed for Chapter 11 bankruptcy in May 2012 and has since closed offices and liquidated assets while investigating potential legal actions.
Dewey & le beouf crisis analysis
Dewey & LeBoeuf was formed in 2007 through a merger and grew rapidly through aggressive hiring. However, after the 2008 financial crisis the firm struggled financially. By 2012, 80 partners had left due to poor performance and the firm owed over $300 million. Dewey filed for Chapter 11 bankruptcy in May 2012 and has since closed offices and liquidated assets while investigating potential legal actions.
OB II - WeWork Assignment (1).pptx
WeWork was a real estate company founded in 2010 that provided shared office spaces. It grew rapidly but faced issues including a complex corporate structure controlled by CEO Adam Neumann, who made questionable decisions. Other problems included a lack of strategic focus as WeWork expanded too quickly into new areas without coherence, and a culture of excess spending that raised viability questions. WeWork's organizational culture was characterized by a lack of accountability, high pressure, and lack of diversity. The combination of poor governance, financial mismanagement, lack of focus, excess spending culture, and dependence on external funding ultimately led to a loss of investor confidence and declining valuation that precipitated a crisis at the company in 2019.
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We work the startup idea that ain't working
IPO had been one of the most highly anticipated public offerings of 2019. The company’s largest investor, SoftBank, is taking control of the struggling company at a valuation $8 billion.
Former CEO and founder Adam Neumann, who will give up most of his stock in the company in exchange for nearly $1.7 billion, including a $185 million consulting fee.
WeWork may not have been able to complete its once-planned IPO, but .pdf
WeWork may not have been able to complete its once-planned IPO, but even so it now has
something that many IPO companies often experience a shareholder class action lawsuit. On
November 4, 2019, a WeWork investor filed a lawsuit in California state court on behalf the
companys minority shareholders as well as on behalf of the company itself. As discussed below,
the shareholder complaint makes a number of interesting allegations and raises some interesting
issues as well.
Background
WeWork is a real estate and office share company. It was founded in 2010. Among its founders
was Adam Neumann, who until recently served as WeWorks CEO. At one time the company had
over 5,000 employees and facilities in over 200 locations around the world. One of the companys
major investors is SoftBank, the multinational investment company led by Masayoshi Son.
In January 2019, WeWork announced that it was rebranding itself as The We Company and
stated its valuation as $47 billion. In August 2019, the company announced its plans to go public.
The company immediately drew sharp public criticism for its governance, share structure, and
finances, among many other things. In September 2019, the company pulled its plan offering.
Shortly thereafter, Neumann resigned his CEO position. At the same time, SoftBank agreed to
take a controlling position in the company in a transaction that valued the company at about $8
billion.
As part of Neumanns termination package, he was given the right to sell a portion of his shares,
worth over $900 million, at the transactions valuation, as part of the planned tender offer.
SoftBank also agreed to repay a $500 million loan from JPMorgan (the bank that had been
picked to lead the companys IPO). The bank also agreed to pay him a $185 million consulting
fee. The Wall Street Journal estimated the total value of his package at $1.7 billion; the paper
also called the package a windfall.
The Lawsuit
On November 4, 2019, a WeWork investor filed a lawsuit in California (San Francisco County)
Superior Court against Neumann, WeWorks board of directors, and SoftBank. The complaint, a
copy of which can be found here, asserts both class action claims on behalf of the companys
minority shareholders and derivative claims on behalf of the company itself. The complaint
asserts claims for breach of fiduciary duty, aiding and abetting breach of fiduciary duty,
corporate waste, as well as for declaratory and injunctive relief.
The gist of the complaint is that Neumann, in concert with SoftBank, used their control of the
company to the benefit of themselves and to the detriment of the minority shareholders and of
the company, and that the companys board aided and abetted this alleged misconduct.
The complaint specifically alleges that Neumann abused his control to extract benefits with a
total value of $1.7 billion. SoftBank allegedly will benefit from its position in the planned
transaction that will allow the company to obtain majority control of the com.
communitee web.com
The document summarizes the background and issues facing CommuniteeWeb, an internet startup company. It discusses:
1) The founders, Dan Pale and Jim Mack, spent $1.6 million to launch the localized internet portal business.
2) By 2001, the economic downturn made funding difficult as the company faced mounting debt and competitors. Cutbacks left only 15 employees on a $75k monthly budget.
3) Conflicts emerged between Mack, employees, and Pale over the changing business plan and cash flow issues, with paychecks being delayed. As issues mounted, Pale was appointed CEO to address the company's survival.
Can we work?
WeWork has copied an old business model, i.e. office leasing, added some tech lingo on it, and enticed venture capital investors into valuing the firm at more than 10x its nearest competitor. The company also burns tons of cash, carries huge risk factors in a recession, and sports some of the worst corporate governance practices. It’s now seen as a startup lesson in what not to do in Silicon Valley.
The future of WeWork is weak, they have too many liabilities. Since their business model doesn’t have good unit economics. Moreover, they cannot also do a successful IPO too to sustain for Softbank
262018 Big Landlords Pile Into Co-Working as WeWork’s Ascent.docx
2/6/2018 Big Landlords Pile Into Co-Working as WeWork’s Ascent Continues - WSJ
https://www.wsj.com/articles/big-landlords-pile-into-co-working-as-weworks-ascent-continues-1516712400 1/5
Co-working is coming of age.
DOW JONES, A NEWS CORP COMPANY
DJIA 24912.77 2.33% ▲ Nasdaq 7115.88 2.13% ▲ U.S. 10 Yr -26�32 Yield 2.804% ▼ Crude Oil 63.92 -0.36% ▼ Euro 1.2374 -0.03% ▼
This copy is for your personal, noncommercial use only. To order presentationready copies for distribution to your colleagues, clients or customers visit
http://www.djreprints.com.
https://www.wsj.com/articles/biglandlordspileintocoworkingasweworksascentcontinues1516712400
MARKETS PROPERTY REPORT
Big Landlords Pile Into Co-Working as
WeWork’s Ascent Continues
Blackstone, Brook�ield and Hines are exploring a wide range of deals with shared-space �irms like
WeWork and Convene
|
A common room inside a WeWork location in San Francisco. PHOTO: MICHAEL SHORT�BLOOMBERG NEWS
Jan. 23, 2018 8�00 a.m. ET
By Peter Grant
2/6/2018 Big Landlords Pile Into Co-Working as WeWork’s Ascent Continues - WSJ
https://www.wsj.com/articles/big-landlords-pile-into-co-working-as-weworks-ascent-continues-1516712400 2/5
Some of the world’s largest landlords, facing weak growth in traditional office rents
and occupancies, are investing heavily in what until recently was viewed as a niche
office business that catered primarily to technology startups and millennials.
A venture of Brookfield Asset Management and Onex Corp.
is negotiating to buy IWG PLC, which has a market capitalization of £2.48
billion ($3.46 billion) and operates co-working facilities as well as more traditional
offices for small and midsize businesses. On Saturday, the U.K.’s Takeover Panel
extended the deadline for the venture to make an offer until Feb. 2. Brookfield declined
to comment on the negotiations.
Meanwhile, Blackstone Group LP last year purchased the Office Group in a
deal that valued the U.K.-based co-working provider at £500 million. Blackstone,
Brookfield and Houston-based Hines also are exploring a wide range of deals with new
shared-space firms like WeWork Cos., IWG, Industrious and Convene.
The new workplace trend “is certainly something we’re spending a lot of time focusing
on in our office space business,” said Rob Harper, head of U.S. asset management at
Blackstone’s real estate group.
Co-working at its
core is a new
name for a
business that has
been around for
decades. Firms
simply lease big
blocks of space from landlords and subdivide it for smaller tenants and provide a range
of office services.
But as the economy began to recover after the 2008 recession, a new set of co-working
companies led by WeWork found surging demand among young workers for densely
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Dewey & le beouf crisis analysis
Dewey & LeBoeuf was formed in 2007 through a merger and grew rapidly through aggressive hiring. However, after the 2008 financial crisis the firm struggled financially. By 2012, 80 partners had left due to poor performance and the firm owed over $300 million. Dewey filed for Chapter 11 bankruptcy in May 2012 and has since closed offices and liquidated assets while investigating potential legal actions.
Dewey & le beouf crisis analysis
Dewey & LeBoeuf was formed in 2007 through a merger and grew rapidly through aggressive hiring. However, after the 2008 financial crisis the firm struggled financially. By 2012, 80 partners had left due to poor performance and the firm owed over $300 million. Dewey filed for Chapter 11 bankruptcy in May 2012 and has since closed offices and liquidated assets while investigating potential legal actions.
OB II - WeWork Assignment (1).pptx
WeWork was a real estate company founded in 2010 that provided shared office spaces. It grew rapidly but faced issues including a complex corporate structure controlled by CEO Adam Neumann, who made questionable decisions. Other problems included a lack of strategic focus as WeWork expanded too quickly into new areas without coherence, and a culture of excess spending that raised viability questions. WeWork's organizational culture was characterized by a lack of accountability, high pressure, and lack of diversity. The combination of poor governance, financial mismanagement, lack of focus, excess spending culture, and dependence on external funding ultimately led to a loss of investor confidence and declining valuation that precipitated a crisis at the company in 2019.
yahoo annual reports 2000
Yahoo! had a successful year in 2000 despite challenges in the industry and economic environment. Some key accomplishments included maintaining its position as the #1 ranked global network, establishing itself as one of the top 40 most valuable brands in the world, and growing its consumer base to over 180 million users worldwide. The company is well positioned for continued growth and success in 2001 by focusing on its leadership position and building out business and enterprise services. A new CEO will be hired to help further expand Yahoo!'s management expertise and strategic initiatives.
2000 Annual Report
Yahoo! has become a powerful global network and platform that is more than just an internet icon. In 2000, Yahoo! continued to strengthen and expand its network globally, finishing the year with 24 world properties across 12 languages. The Yahoo! network now reaches 180 million unique users monthly, nearly doubling its traffic from the year before. Yahoo! has established itself as one of the top brands in the world and has become increasingly essential to both consumers and businesses.
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The document discusses the evolution of the internet from "Web 1.0" to "Web 2.0". Key aspects of Web 2.0 include increased broadband connectivity enabling new applications, more participation and sharing through blogging and social media, and an environment that allows for easier assembly of applications by combining different data sources. The transition to Web 2.0 has enabled new profitable business models and more opportunities for startups to be acquired by large internet companies.
The Curious Case of WorldCom
WorldCom filed for bankruptcy in 2002 despite appearing to have growth potential. The telecom boom of the 1990s led to overexpansion as companies built extensive networks. By 2000, there was too much capacity and fierce price competition emerged. WorldCom grew rapidly through 65 acquisitions from 1991-1997, taking on substantial debt. However, integration of acquired companies was poor. Additionally, WorldCom engaged in fraudulent accounting practices like capitalizing normal operating expenses to inflate profits. When the telecom market declined, WorldCom could not sustain its business model and massive debt, leading to its collapse.
[Extract] Study The We Company: is real estate a disruptable industry?
1. Meet WeWork, the company setting new coworking standards by providing flexible office space in over 100 cities globally and popularizing the coworking model.
2. WeWork bundles and unbundles real estate like other companies, leasing spaces from landlords and subleasing to members, while also focusing on building community.
3. Coworking is becoming a real market as workforce trends change and WeWork has helped grow demand, but questions remain about successfully scaling in real estate long-term.
Corporate CV
Michael Cooke and Darren Ferneyhough met in 2000 and founded Premier Group to streamline insurance processes for mortgage brokers. By harnessing technology and focusing on customer service, Premier grew rapidly to over £12 million annual turnover within three years. In 2004, Premier Group was acquired by The Tenet Group. Since then, Cooke and Ferneyhough have consulted for financial services businesses.
S T R A T E G I E S FOR1 RANSITIONING O L D ECONOMY FI.docx
S T R A T E G I E S FOR
1 RANSITIONING
' O L D ECONOMY' FIRMS
TO E - B U S I N E S S
SliKVHYiNCi THl- WKt-CKAGi; OP THH IXVl-COM MllLT-
down oi 2001, it is easy to overlook the persistence and
rapid growth of c-btisincss throughotit the U.S. ecoiv
otny. While many high-Hying dot-com firms, includ-
ing Bcyond.com [2], Boo.cotn | 3 | , DrKoop.com [8],
Kozmo.com [1], atid Webvan |51 vanished, use of the
Iinertict as an essential business tool continued to grow
d ran lilt ically. At the peak of the e-business hype in
2000, most pundits ignored the tiascent efforts of large
IcgiKy firms, or those that existed before the advent of
e-business and had yet to
embrace the Net. A com-
mon mispcrception about
e-business was and still is
that you either got it or you
didnt get it. By definition,
flashy e-business purc-plays,
or the dot-coms, got it, and
except for a few visionaries,
legacy firms didnt. Ibday, legacy firms represent the
future ol e-busiiifss, and understanding e-business
from their perspective gives us a clearer picture of how
e-business will develop in the future. The online gro-
cers represent a clear example. I he pure-plays Home-
grocer and Webvan received enormous media attention
and heavy investment from venture capitalists. Today,
both arc out of business, while traditional British gro-
cer Tesco has emerged as the tnost successilil grocer
online.
When devising an e-business strategy for
legacy firms, be wary of the five myths of
e-business development white embracing
the five guidelines of managerial
responsibility and leadership.
T h e hype surrounding e-business has inspired a set
of myths about legacy firms and the nature of e-busi-
ness that might give tnanagcrs an oversimplified and
misleading view of the wired economy. Careful analy-
sis of the e-business initiatives and strategies of legacy
firms helps get us past the myths toward a more real-
istic perspective on e-business. It is far too early in the
liistory of the e-busines.s phenomenon to declare win-
ners and losers, but by reporting what is happening in
the field and challengitig the myths, we hope to give
niatiagers of legacy firms a
better picture of the strate-
gic choices available to
them in preparing their
organizations for e-busi-
ness and the key factors
they need to weigh when
making their decisions,
i he result is a clearer indi-
cation of what it takes to make sustainable use of the
Internet in business.
During the winter and spring of 2000, we identi-
fied nearly 200 senior managers throughout North
America with major roles in formulating or imple-
menting their organizations' e-business strategies; we
call them chief e-commerce officers, or CeCOs,
thotigh they have a dozen different titles. We con-
ducted in-depth interviews with 35 of them to under-
stand their roles, how their jobs were defined, and
EDIEAL J. PINKER, ABRAHAM SEIDMANN, AND
REGINALD C . FOSTER
COMMUNICATIONS OF THE ACM May 3002/Vol 4S. No 5 7 7
W I T H O U T A SOUND
E-BUS.
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The month-end close has become more complex since the early 2000’s. Increasing regulatory scrutiny is forcing companies to change the way they measure their success while continuing to generate full-scale, compliant, and timely financial statements every month. This paper examines four ways companies can remedy a dysfunctional month-end close without altering their core business systems or processes.
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The VERTEX Companies has undergone an integration process over the past three years to consolidate its environmental, engineering, and construction services under one brand. It is now organized into five main verticals and has experienced 30% revenue growth each of the past two years. VERTEX expects continued double-digit growth in 2014 as the economy recovers and its focus on integrated services and private sector clients provides opportunities in real estate development, insurance, and upstream oil and gas projects. The company will pursue further growth through acquisitions and an employee stock ownership program to attract top talent.
Environmental Business Journal - VERTEX Growth
The VERTEX Companies, Inc. is an environmental, engineering, and construction services firm that has undergone an integration of its operations over the past three years. It has consolidated its brands and restructured into five main verticals: environmental services, construction, insurance, engineering, and international. This integration appears to have been successful, as VERTEX has experienced 30% revenue growth each of the past two years and expects continued double-digit growth. Moving forward, it sees opportunities in real estate development, upstream oil and gas, and electricity transmission.
HR 2.0 Executive Summary
1) The document discusses how HR processes and organizations must evolve to embrace new Web 2.0 technologies that employees are adopting.
2) It argues the HR function has a leading role to play in helping define guidelines and processes to develop talent and culture for the new digital workplace.
3) The document outlines how various HR processes like recruitment, training, and communication can utilize social software tools to improve goals and benefits for both the organization and employees.
Hr 2.0 Executive Summary
1) The document discusses how HR processes and organizations must evolve to embrace new Web 2.0 technologies that employees are increasingly using both personally and professionally.
2) It argues that HR leaders have an important role to play in defining guidelines, processes, and systems to help their organizations successfully adopt Web 2.0 tools and practices.
3) The document outlines how many HR processes, such as recruitment, training, communication and evaluation, can be improved through the use of Web 2.0 technologies like social networks, blogs and wikis.
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This document discusses the initial public offering (IPO) process of Yahoo Corporation. It provides background on Yahoo, discussing how it became an internet communication and media company serving over 200 million users globally. The document then discusses Yahoo's IPO in detail, including the performance of its stock and price trends after going public. It analyzes the financial trends of Yahoo and the advantages and disadvantages of raising capital through an IPO.
Delta inc. and pink tree case analysis
Delta Inc. faces a critical issue with its receivables management and cash flow problems due to its major partner Pink Tree Finance declaring bankruptcy. Delta's liquidity ratios are significantly below industry averages, indicating it may struggle to pay debts as they come due. Pink Tree's financial statements showed signs of financial distress prior to bankruptcy through very low liquidity and high debt ratios. Delta relied too heavily on referrals to Pink Tree and needs to diversify its business partners and improve policies around managing receivables and assessing client risk. To solve its immediate cash needs, Delta will need to explore financing alternatives to fund a $100,000 deposit for a new real estate project.
Assignment InstructionsWeek 7 AssignmentDue 111916 Saturday at.docx
Assignment Instructions
Week 7 Assignment
Due 11/19/16 Saturday at Noon PST
Read the case
"Giving Away Facebook"
at the end of Chapter 16.
Answer the following questions and/or statements in detail:
1. Can you know if you have a potentially hugely successful company on your hands when you first launch it?
2. Should all companies take the precautions Facebook
failed
to take? Or can some companies be more relaxed about such legal issues as partnerships and ownership? Why or why not?
Use credible sources and research to support and explain.
3. What types of agreements and contracts do you think Mark Zuckerberg, his partners, and Facebook's early investors should have drawn up?
Use credible sources and research to support and explain.
4. What contracts do you think the Winklevoss twins and Divya Narendra should have drawn up when they hired Zuckerberg to work for
their
company?
Use credible sources and research to support and explain.
Make sure you format your papers in proper APA 6th. Be sure to properly cite your sources inside your text using APA 6th citations rules as well as proper APA referencing guidelines in your “References” (bibliography) section at the end of your papers.
Your written weekly assignment paper should be at least 1,000 words in length.
398 ENTREPRENEURSHIP A REAL-WORLD APPROACH REAL-WORLD C ASE Giving Away Facebook challenge to launch and finance a new company, the founders promised large shares of ownership to those who helped get it off the ground solution Lawsuit after lawsuit after lawsuit, with huge sums of money involved for a bunch of seemingly smart kids, the guys involved in Facebook’s founding did some pretty stupid things—at least from a legal point of view. This resulted in years of lawsuits and billions of dollars in settlements. Most new start-ups are in the position of having to give up some degree of ownership in return for early-stage financing. After all, investors want to get something for their money, and that is typically a percent of the equity—or ownership—of the company. And they deserve a big payout for taking a chance on an entrepreneur, for risking their money before anyone else. Nevertheless, those decisions shouldn’t be made lightly or without considering the legal consequences, even when a “business” is still in the idea stage. Or when it’s just being discussed in your college dorm. The exact facts revolving around the founding of Facebook remain in dispute. But some things are agreed upon. A site called “The Facebook. com” was launched in 2004, by Mark Zuckerberg, Dustin Moskovitz, Chris Hughes, and Eduardo Saverin while they were students at Harvard University. Saverin, a wealthy student, provided Zuckerberg with $15,000 to purchase the servers for The Facebook. In return, Zuckerberg allotted Saverin 30 percent of the company.1 That was generous—extremely so. And it was a decision that would come back to haunt Zuckerberg. In the meantime, while getting ready to launch T ...
Communications Audit
PwC is a global professional services network headquartered in London. It provides assurance, tax, and advisory services to businesses and individuals. With nearly 200,000 employees operating in over 170 countries, PwC is the fifth largest private company in the US. The document discusses PwC's history, industry trends, competitive landscape, key publics such as shareholders, employees, and customers, and search engine optimization analysis. PwC aims to regain its position as the top accounting firm globally through strategies like attracting top talent, advancing employee development, and committing to diversity.
World com || Auditing and Corporate Governance
WorldCom began as a small telecom company in 1983 and grew rapidly through acquisitions in the 1990s, becoming the second largest long-distance carrier in the US. However, oversupply in the telecom industry and failed mergers led to declining revenues. To hide this, WorldCom fraudulently reported $11 billion in line costs as capital expenditures from 1999-2002. When auditors discovered the fraud in 2002, WorldCom filed for the largest bankruptcy in US history at the time. The CEO and CFO were later convicted of fraud and accounting violations.
Pristine sun teaser 1Q 2015
Pristine Sun is a 6-year old fast-growing company located in San Francisco, CA. We build, own and operate solar power plants on rural grassland and sell the electricity on long-term (ie 20-year) contracts primarily to investment grade utilities. Pristine Sun was recently nominated for Axial’s Growth 100 list, recognizing the most interesting companies in the middle market. We’ve been profitable and/or cash-flow positive the last two years, and have contracts in place to increase our growth by over 300% in 2016. We’re seeking $5 Million in this round. We raised $10 Million in 2011 from private equity and paid it off in full from profits. We're now ready to raise another round to accelerate growth.
Lubar brochure 2013
Lubar & Co. is an investment firm that has been partnering with companies for over 50 years to help them grow and reach their potential. They invest their own capital and work closely with management teams. Their philosophy is based on principles like acquiring companies jointly with operating managers, providing resources to help businesses develop, and creating ownership opportunities to align interests. They typically invest in Midwest-based companies with revenues over $30 million across various industries.
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yahoo annual reports 2000
Yahoo! had a successful year in 2000 despite challenges in the industry and economic environment. Some key accomplishments included maintaining its position as the #1 ranked global network, establishing itself as one of the top 40 most valuable brands in the world, and growing its consumer base to over 180 million users worldwide. The company is well positioned for continued growth and success in 2001 by focusing on its leadership position and building out business and enterprise services. A new CEO will be hired to help further expand Yahoo!'s management expertise and strategic initiatives.
2000 Annual Report
Yahoo! has become a powerful global network and platform that is more than just an internet icon. In 2000, Yahoo! continued to strengthen and expand its network globally, finishing the year with 24 world properties across 12 languages. The Yahoo! network now reaches 180 million unique users monthly, nearly doubling its traffic from the year before. Yahoo! has established itself as one of the top brands in the world and has become increasingly essential to both consumers and businesses.
Nextwave q405
The document discusses the evolution of the internet from "Web 1.0" to "Web 2.0". Key aspects of Web 2.0 include increased broadband connectivity enabling new applications, more participation and sharing through blogging and social media, and an environment that allows for easier assembly of applications by combining different data sources. The transition to Web 2.0 has enabled new profitable business models and more opportunities for startups to be acquired by large internet companies.
The Curious Case of WorldCom
WorldCom filed for bankruptcy in 2002 despite appearing to have growth potential. The telecom boom of the 1990s led to overexpansion as companies built extensive networks. By 2000, there was too much capacity and fierce price competition emerged. WorldCom grew rapidly through 65 acquisitions from 1991-1997, taking on substantial debt. However, integration of acquired companies was poor. Additionally, WorldCom engaged in fraudulent accounting practices like capitalizing normal operating expenses to inflate profits. When the telecom market declined, WorldCom could not sustain its business model and massive debt, leading to its collapse.
[Extract] Study The We Company: is real estate a disruptable industry?
1. Meet WeWork, the company setting new coworking standards by providing flexible office space in over 100 cities globally and popularizing the coworking model.
2. WeWork bundles and unbundles real estate like other companies, leasing spaces from landlords and subleasing to members, while also focusing on building community.
3. Coworking is becoming a real market as workforce trends change and WeWork has helped grow demand, but questions remain about successfully scaling in real estate long-term.
Corporate CV
Michael Cooke and Darren Ferneyhough met in 2000 and founded Premier Group to streamline insurance processes for mortgage brokers. By harnessing technology and focusing on customer service, Premier grew rapidly to over £12 million annual turnover within three years. In 2004, Premier Group was acquired by The Tenet Group. Since then, Cooke and Ferneyhough have consulted for financial services businesses.
S T R A T E G I E S FOR1 RANSITIONING O L D ECONOMY FI.docx
S T R A T E G I E S FOR
1 RANSITIONING
' O L D ECONOMY' FIRMS
TO E - B U S I N E S S
SliKVHYiNCi THl- WKt-CKAGi; OP THH IXVl-COM MllLT-
down oi 2001, it is easy to overlook the persistence and
rapid growth of c-btisincss throughotit the U.S. ecoiv
otny. While many high-Hying dot-com firms, includ-
ing Bcyond.com [2], Boo.cotn | 3 | , DrKoop.com [8],
Kozmo.com [1], atid Webvan |51 vanished, use of the
Iinertict as an essential business tool continued to grow
d ran lilt ically. At the peak of the e-business hype in
2000, most pundits ignored the tiascent efforts of large
IcgiKy firms, or those that existed before the advent of
e-business and had yet to
embrace the Net. A com-
mon mispcrception about
e-business was and still is
that you either got it or you
didnt get it. By definition,
flashy e-business purc-plays,
or the dot-coms, got it, and
except for a few visionaries,
legacy firms didnt. Ibday, legacy firms represent the
future ol e-busiiifss, and understanding e-business
from their perspective gives us a clearer picture of how
e-business will develop in the future. The online gro-
cers represent a clear example. I he pure-plays Home-
grocer and Webvan received enormous media attention
and heavy investment from venture capitalists. Today,
both arc out of business, while traditional British gro-
cer Tesco has emerged as the tnost successilil grocer
online.
When devising an e-business strategy for
legacy firms, be wary of the five myths of
e-business development white embracing
the five guidelines of managerial
responsibility and leadership.
T h e hype surrounding e-business has inspired a set
of myths about legacy firms and the nature of e-busi-
ness that might give tnanagcrs an oversimplified and
misleading view of the wired economy. Careful analy-
sis of the e-business initiatives and strategies of legacy
firms helps get us past the myths toward a more real-
istic perspective on e-business. It is far too early in the
liistory of the e-busines.s phenomenon to declare win-
ners and losers, but by reporting what is happening in
the field and challengitig the myths, we hope to give
niatiagers of legacy firms a
better picture of the strate-
gic choices available to
them in preparing their
organizations for e-busi-
ness and the key factors
they need to weigh when
making their decisions,
i he result is a clearer indi-
cation of what it takes to make sustainable use of the
Internet in business.
During the winter and spring of 2000, we identi-
fied nearly 200 senior managers throughout North
America with major roles in formulating or imple-
menting their organizations' e-business strategies; we
call them chief e-commerce officers, or CeCOs,
thotigh they have a dozen different titles. We con-
ducted in-depth interviews with 35 of them to under-
stand their roles, how their jobs were defined, and
EDIEAL J. PINKER, ABRAHAM SEIDMANN, AND
REGINALD C . FOSTER
COMMUNICATIONS OF THE ACM May 3002/Vol 4S. No 5 7 7
W I T H O U T A SOUND
E-BUS.
Driving efficiencies in the new month end close - vena solutions
The month-end close has become more complex since the early 2000’s. Increasing regulatory scrutiny is forcing companies to change the way they measure their success while continuing to generate full-scale, compliant, and timely financial statements every month. This paper examines four ways companies can remedy a dysfunctional month-end close without altering their core business systems or processes.
Environmental Business Journal - VERTEX Growth
The VERTEX Companies has undergone an integration process over the past three years to consolidate its environmental, engineering, and construction services under one brand. It is now organized into five main verticals and has experienced 30% revenue growth each of the past two years. VERTEX expects continued double-digit growth in 2014 as the economy recovers and its focus on integrated services and private sector clients provides opportunities in real estate development, insurance, and upstream oil and gas projects. The company will pursue further growth through acquisitions and an employee stock ownership program to attract top talent.
Environmental Business Journal - VERTEX Growth
The VERTEX Companies, Inc. is an environmental, engineering, and construction services firm that has undergone an integration of its operations over the past three years. It has consolidated its brands and restructured into five main verticals: environmental services, construction, insurance, engineering, and international. This integration appears to have been successful, as VERTEX has experienced 30% revenue growth each of the past two years and expects continued double-digit growth. Moving forward, it sees opportunities in real estate development, upstream oil and gas, and electricity transmission.
HR 2.0 Executive Summary
1) The document discusses how HR processes and organizations must evolve to embrace new Web 2.0 technologies that employees are adopting.
2) It argues the HR function has a leading role to play in helping define guidelines and processes to develop talent and culture for the new digital workplace.
3) The document outlines how various HR processes like recruitment, training, and communication can utilize social software tools to improve goals and benefits for both the organization and employees.
Hr 2.0 Executive Summary
1) The document discusses how HR processes and organizations must evolve to embrace new Web 2.0 technologies that employees are increasingly using both personally and professionally.
2) It argues that HR leaders have an important role to play in defining guidelines, processes, and systems to help their organizations successfully adopt Web 2.0 tools and practices.
3) The document outlines how many HR processes, such as recruitment, training, communication and evaluation, can be improved through the use of Web 2.0 technologies like social networks, blogs and wikis.
The Initial Public Offering Process Of Yahoo Corporation
This document discusses the initial public offering (IPO) process of Yahoo Corporation. It provides background on Yahoo, discussing how it became an internet communication and media company serving over 200 million users globally. The document then discusses Yahoo's IPO in detail, including the performance of its stock and price trends after going public. It analyzes the financial trends of Yahoo and the advantages and disadvantages of raising capital through an IPO.
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Delta Inc. faces a critical issue with its receivables management and cash flow problems due to its major partner Pink Tree Finance declaring bankruptcy. Delta's liquidity ratios are significantly below industry averages, indicating it may struggle to pay debts as they come due. Pink Tree's financial statements showed signs of financial distress prior to bankruptcy through very low liquidity and high debt ratios. Delta relied too heavily on referrals to Pink Tree and needs to diversify its business partners and improve policies around managing receivables and assessing client risk. To solve its immediate cash needs, Delta will need to explore financing alternatives to fund a $100,000 deposit for a new real estate project.
Assignment InstructionsWeek 7 AssignmentDue 111916 Saturday at.docx
Assignment Instructions
Week 7 Assignment
Due 11/19/16 Saturday at Noon PST
Read the case
"Giving Away Facebook"
at the end of Chapter 16.
Answer the following questions and/or statements in detail:
1. Can you know if you have a potentially hugely successful company on your hands when you first launch it?
2. Should all companies take the precautions Facebook
failed
to take? Or can some companies be more relaxed about such legal issues as partnerships and ownership? Why or why not?
Use credible sources and research to support and explain.
3. What types of agreements and contracts do you think Mark Zuckerberg, his partners, and Facebook's early investors should have drawn up?
Use credible sources and research to support and explain.
4. What contracts do you think the Winklevoss twins and Divya Narendra should have drawn up when they hired Zuckerberg to work for
their
company?
Use credible sources and research to support and explain.
Make sure you format your papers in proper APA 6th. Be sure to properly cite your sources inside your text using APA 6th citations rules as well as proper APA referencing guidelines in your “References” (bibliography) section at the end of your papers.
Your written weekly assignment paper should be at least 1,000 words in length.
398 ENTREPRENEURSHIP A REAL-WORLD APPROACH REAL-WORLD C ASE Giving Away Facebook challenge to launch and finance a new company, the founders promised large shares of ownership to those who helped get it off the ground solution Lawsuit after lawsuit after lawsuit, with huge sums of money involved for a bunch of seemingly smart kids, the guys involved in Facebook’s founding did some pretty stupid things—at least from a legal point of view. This resulted in years of lawsuits and billions of dollars in settlements. Most new start-ups are in the position of having to give up some degree of ownership in return for early-stage financing. After all, investors want to get something for their money, and that is typically a percent of the equity—or ownership—of the company. And they deserve a big payout for taking a chance on an entrepreneur, for risking their money before anyone else. Nevertheless, those decisions shouldn’t be made lightly or without considering the legal consequences, even when a “business” is still in the idea stage. Or when it’s just being discussed in your college dorm. The exact facts revolving around the founding of Facebook remain in dispute. But some things are agreed upon. A site called “The Facebook. com” was launched in 2004, by Mark Zuckerberg, Dustin Moskovitz, Chris Hughes, and Eduardo Saverin while they were students at Harvard University. Saverin, a wealthy student, provided Zuckerberg with $15,000 to purchase the servers for The Facebook. In return, Zuckerberg allotted Saverin 30 percent of the company.1 That was generous—extremely so. And it was a decision that would come back to haunt Zuckerberg. In the meantime, while getting ready to launch T ...
Communications Audit
PwC is a global professional services network headquartered in London. It provides assurance, tax, and advisory services to businesses and individuals. With nearly 200,000 employees operating in over 170 countries, PwC is the fifth largest private company in the US. The document discusses PwC's history, industry trends, competitive landscape, key publics such as shareholders, employees, and customers, and search engine optimization analysis. PwC aims to regain its position as the top accounting firm globally through strategies like attracting top talent, advancing employee development, and committing to diversity.
World com || Auditing and Corporate Governance
WorldCom began as a small telecom company in 1983 and grew rapidly through acquisitions in the 1990s, becoming the second largest long-distance carrier in the US. However, oversupply in the telecom industry and failed mergers led to declining revenues. To hide this, WorldCom fraudulently reported $11 billion in line costs as capital expenditures from 1999-2002. When auditors discovered the fraud in 2002, WorldCom filed for the largest bankruptcy in US history at the time. The CEO and CFO were later convicted of fraud and accounting violations.
Pristine sun teaser 1Q 2015
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Lubar brochure 2013
Lubar & Co. is an investment firm that has been partnering with companies for over 50 years to help them grow and reach their potential. They invest their own capital and work closely with management teams. Their philosophy is based on principles like acquiring companies jointly with operating managers, providing resources to help businesses develop, and creating ownership opportunities to align interests. They typically invest in Midwest-based companies with revenues over $30 million across various industries.
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Howard Fineman, Veteran Political Journalist and TV Pundit, Dies at 75
Howard Fineman, Veteran Political Journalist and TV Pundit, Dies at 75
WeWork Files for Bankruptcy Protection: A Stunning Fall from Grace | Enterprise Wired
- 1. WeWork Files for Bankruptcy Protection: A Stunning Fall from Grace WeWork, the once high-flying coworking startup, has filed for Chapter 11 bankruptcy protection in federal court, marking the culmination of a remarkable downfall. This SoftBank-backed venture, which had reached a peak valuation of approximately $47 billion, is now grappling with financial turmoil and challenges. How the Troubles Started WeWork’s CEO, David Tolley, acknowledged the need to address the company’s legacy leases and bolster its balance sheet, emphasizing a commitment to enhancing products, services, and its dedicated team of employees. This announcement underscores the dramatic shift in WeWork’s fortunes since its heyday when it was hailed as a tech unicorn poised to revolutionize office work and offer perks like free-flowing craft beer to its members. The company’s troubles began with a botched attempt to go public in 2019, where IPO paperwork revealed larger-than-expected losses and potential conflicts of interest involving co- founder and then-CEO Adam Neumann. Neumann’s unconventional leadership style and the company’s corporate culture attracted significant media attention, ultimately leading to his ousting in 2019, though he received a substantial exit package.
- 2. WeWork eventually went public in 2021, but its valuation was substantially reduced to around $9 billion. However, the shifting landscape of the market, along with changing perceptions, began to take a toll on the company. Despite positioning itself as a tech company, critics argued that WeWork’s core business was essentially real estate, leasing office space and subletting it to a wide range of clients, from startups to freelancers and large corporations. The Pandemic The onset of the pandemic exacerbated the challenges, as remote work and hybrid office arrangements became more prevalent, undermining the traditional office culture that WeWork was founded on. Increased competition in the coworking industry, rising interest rates, and macroeconomic uncertainties further added to the company’s woes. Throughout 2023, WeWork’s stock experienced a staggering 98% decline, reflecting the growing apprehension among investors. In May, the company initiated a leadership reshuffle, with the departure of chairman and CEO Sandeep Mathrani, a real estate expert who had been expected to rescue the business. David Tolley, a WeWork board member, stepped in as interim CEO and was officially appointed as CEO in October. In August, WeWork acknowledged having “substantial doubt” about its ability to sustain operations over the coming year as mounting losses and debt loomed over the horizon. Summing Up WeWork’s bankruptcy filing marks a pivotal moment in the company’s tumultuous journey, as it grapples with the fallout of past decisions and seeks a path to recovery in an evolving commercial real estate landscape. It remains to be seen how WeWork will navigate the challenges and rebuild its once-promising brand in the post-pandemic world. Also Read: Wall Street’s 1% Decline Amid Rising Interest Rates