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  1. #8101
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    One interesting thing about WeWork: they have a few billion in customer leases secured (future income) matched against a mountainous ~$45 billion commitment on property leases (future expenses). It would be a miracle worthy of canonizing the CEO if they stay in business through 2030.

  2. #8102
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    Quote Originally Posted by skaredshtles View Post
    Again?
    first time the the two year inverted against the ten since 2007

  3. #8103
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    Jan 2005
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    Things are getting interesting. I just need shit to stay this side of Armageddon for about 5 more weeks until I close the sale of an investment property without spooking the buyer.

  4. #8104
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    Quote Originally Posted by Bromontane View Post
    One interesting thing about WeWork: they have a few billion in customer leases secured (future income) matched against a mountainous ~$45 billion commitment on property leases (future expenses). It would be a miracle worthy of canonizing the CEO if they stay in business through 2030.
    And it's not like their client base is the first to collapse during a downturn or anything...

    If only they had learned from uber, they would have just forced their clients to take on the leases directly while charging them a portion of rent in fees.

  5. #8105
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    Dec 2005
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    STL
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    Ouch!


    Sent from my iPhone using TGR Forums

  6. #8106
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    Aug 2016
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    1,912
    buying the buildings (with OPM of course) you lease to your own company at inflated rates fed by investor money is something
    https://therealdeal.com/2019/08/01/w...n-47b-company/

  7. #8107
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    It just sets the table for deflation, unfortunately. One firm is nothing, but a cascade of firms conditioned to the same bizarre environment introduces a degree of fragility to the system we saw last decade.

    Volcker in his recent autobiography:

    Actual deflation is rare, but that fear can in fact easily lead to policies that inadvertently increase the risk of real deflation.
    Schumpeter 80yrs ago:

    In the midst of the prosperous twenties just about half of the business corporations in the US were run at a loss, at zero profits or at profits which, if they had been foreseen, would have been inadequate to call forth the effort & expenditure involved.
    side note: WeWork & Ubers of the world are indirectly caused - or at least reinforced - by the vast sums of capital fleeing QE experiments in search of yield. Those cross-border flows from Japanese & now European savers typically are invested with more focus on marketed yield than any rational evaluation of risk-adjusted return. Meaning, as the majority of the developed world (US, EU, JPN) are moving towards or deep in QE-fueld experiments with rate suppression & CB balance sheet expansion, this trend of capital desperate for yield & susceptible to malinvestment grows.

  8. #8108
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    Aug 2016
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    Quote Originally Posted by iceman View Post
    I do wonder what they spend it on.
    apparently Uber is wondering the same thing
    https://news.crunchbase.com/news/def...200k-per-year/
    This cost-cutting measure is part of a company-wide campaign, complete with its own internal hashtag: #FindTheMoney. Uber executives are soliciting ideas from their employees to find ways to reduce the company’s burn rate. In his email message, Chai credits an employee with the idea and implores others to “please keep the ideas coming.”

  9. #8109
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    Dec 2006
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    Wow, Schumpeter...feels like 80 years ago I read his stuff!
    Something about the wrinkle in your forehead tells me there's a fit about to get thrown
    And I never hear a single word you say when you tell me not to have my fun
    It's the same old shit that I ain't gonna take off anyone.
    and I never had a shortage of people tryin' to warn me about the dangers I pose to myself.

    Patterson Hood of the DBT's

  10. #8110
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    Apr 2016
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    Someone mentioned the other day, maybe it was on twitter, that Uber burning through investor cash is maybe the only effective redistribution of wealth going on in the US at the moment.

  11. #8111
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    Quote Originally Posted by Cravenmorhead View Post
    Someone mentioned the other day, maybe it was on twitter, that Uber burning through investor cash is maybe the only effective redistribution of wealth going on in the US at the moment.
    Effective in what way? It's not like it's going to the drivers or anything, and the PEs and other investors are mostly still waayyyyy up, even including post IPO, and will make a profit once they liquidate.

    Mostly it's just going to fleece whoever is left holding the bag, which will be your mutual funds, pensions, retail investors, etc.

  12. #8112
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    Apr 2016
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    Effective in that it's artificially suppressing the "true" cost of a ride from Point A to Point B.

    And also it's a joke.

  13. #8113
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    Quote Originally Posted by JimmyCarter View Post
    <snip>
    Mostly it's just going to fleece whoever is left holding the bag, which will be your mutual funds, pensions, retail investors, etc.
    Fortunately, my mutual funds don't have Uber in the mix.

  14. #8114
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    Quote Originally Posted by Cravenmorhead View Post
    Effective in that it's artificially suppressing the "true" cost of a ride from Point A to Point B.
    Sure, but the savings are then extracted from the societal capital base & add to the spectre of deflation. No free lunch and whatnot. I guess the arb opportunity can be fun.

  15. #8115
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    Nov 2003
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    Portland
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    Quote Originally Posted by mcsquared View Post
    Things are getting interesting. I just need shit to stay this side of Armageddon for about 5 more weeks until I close the sale of an investment property without spooking the buyer.
    WE just closed on a property, thankfully. Good luck.
    Damn shame, throwing away a perfectly good white boy like that

  16. #8116
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    the chinese economy is slowing and the tariff spat doesn't help. there has been deflation in commodities. the shale oil market in the US has changed the entire world outlook on oil. talk about redistribution of wealth, a lot of money has gone into the oil patch and an analysis I saw on bloomberg theorized that the low price per barrel of oil has stranded three billion dollars of paper out of the six billion invested in shale paper. Note: the shale boom has been fueled by borrowing

  17. #8117
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    Quote Originally Posted by skaredshtles View Post
    Fortunately, my mutual funds don't have Uber in the mix.
    You'd be surprised how many do.

  18. #8118
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    Quote Originally Posted by Bromontane View Post
    One interesting thing about WeWork: they have a few billion in customer leases secured (future income) matched against a mountainous ~$45 billion commitment on property leases (future expenses). It would be a miracle worthy of canonizing the CEO if they stay in business through 2030.
    Mismatched maturities. History may not be repeating, but its certainly rhyming.

    Also, the President trying to gun the market on a tick be tick basis is embarrassing.
    Charlie, here comes the deuce. And when you speak of me, speak well.

  19. #8119
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    CEO had the company pay him $5.9M for the new name.Name:  IMG_20190814_175501.jpeg
Views: 214
Size:  35.7 KB
    mountainous regions are wonderlands

  20. #8120
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    Quote Originally Posted by Bromontane View Post
    CEO had the company pay him $5.9M for the new name.Name:  IMG_20190814_175501.jpeg
Views: 214
Size:  35.7 KB
    most likely a fucking psychopath
    skid luxury

  21. #8121
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    Quote Originally Posted by Bromontane View Post
    CEO had the company pay him $5.9M for the new name.Name:  IMG_20190814_175501.jpeg
Views: 214
Size:  35.7 KB
    That price seems extremely low actually, knowing how these things are priced.

  22. #8122
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    So how concerned are we all with today's 3%? More of the same, or time to rethink the vacation and put cash under the mattress?

  23. #8123
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    Quote Originally Posted by mall walker View Post
    So how concerned are we all with today's 3%? More of the same, or time to rethink the vacation and put cash under the mattress?
    It's anybody's guess. So it goes...

  24. #8124
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    Quote Originally Posted by b-bear View Post
    most likely a fucking psychopath



    The term is sociopath. A rich sociopath.

    Let's do some livin'
    After, we die

  25. #8125
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    Quote Originally Posted by mall walker View Post
    So how concerned are we all with today's 3%? More of the same, or time to rethink the vacation and put cash under the mattress?
    Gold!

    Let's do some livin'
    After, we die

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