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© (c) Copyright Thomson Reuters 2019.WeWork throws in the towel on its ill-fated IPO
By Anirban Sen NEW YORK©2024 GPlusMedia Inc.
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mmwkdw
I think the IPO requirements need reviewing - to ensure that only "truely" profitable Companies can be listed, and by true profit, I mean the plain standard concept "profit", not profit through creative accounting, and the big is beautiful clause aka market cap, allowing a new "IPO" should be dropped entirely. Golden angels trying to bail by selling junk to the rest of us should not be an excuse to grant an IPO.
Madden
The whole thing was a ponzi scheme for Newmann to get rich, hopefully they go after his lavish spending and structuring the company in such a way that it pays him directly through shadow companies and other questionable methods.