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AT&T Drops Nokia for Ericsson in $14 Billion Deal
  + stars: | 2023-12-04 | by ( Drew Fitzgerald | ) www.wsj.com   time to read: 1 min
AT&T said its shift to Ericsson will fast-track its network overhaul and allow it to buy hardware and software from a broader range of suppliers in future years. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesAT&T struck a deal with Ericsson to buy up to $14 billion of its hardware and services after the Swedish equipment supplier pledged to open up its software to competing systems. The five-year agreement would move virtually all of AT&T’s new purchases of certain cell-tower equipment to Ericsson, replacing existing machinery from Finnish rival Nokia in many markets. The Dallas-based telecom giant said it plans to start the swap next year and aims to have 70% of its wireless network traffic passing through open platforms by late 2026.
Persons: patrick Organizations: Ericsson, fallon, Agence France, Getty, Nokia Locations: Swedish, Dallas
Exit George SantosVideo Ad Feedback SE Cupp: Trump didn't pave the way for George Santos. In the week that Americans said goodbye to Rosalynn Carter, Henry Kissinger and Sandra Day O’Connor, it was jarring that Santos occupied our minds. But as SE Cupp argued, in a more rational world, Santos would have resigned from Congress long ago. • Join us on Twitter and Facebook“Many Republicans just don’t care,” wrote Zelizer. Ron Edmonds/APAs a 12-year-old girl in 1981, Traci Lovitt was riveted by the appointment of Sandra Day O’Connor as the first woman on the Supreme Court.
Persons: William James, , James, Webster, — Taylor Swift, Elon Musk, Taylor, Jeff Yang, aplomb, Swift, Ariana Grande, Tay, bestie, , ” Yang, Holly Thomas, , Emma Chamberlain, we’re, we’ll, We’ll, Exit George Santos, George Santos, Rosalynn Carter, Henry Kissinger, Sandra Day O’Connor, Santos, New Jersey Sen, Bob Menendez, Cupp, Mercedes, ” Santos, Menendez “, Menendez, Donald Trump, Trump, Bill Clinton, ” Clay Jones Liz Cheney’s, Liz Cheney, ” Cheney, Julian Zelizer, Cheney, Kevin McCarthy, McCarthy, ” “, craven, — Cheney, Wade, Patrick T, Brown, ’ Trump, ” Brown, Sen, John McCain, ” Nick Anderson, Agency Nikki Haley’s, Nikki Haley, Koch, Haley, Geoff Duncan, ” Duncan, Joe Biden’s, Biden, Barack Obama, ” “ Haley, Nicole Hemmer, Bill Carter, Hannity, Newsom, Henry Kissinger’s, Henry “ Kissinger, Fareed Zakaria, Kissinger, Stalin, reread Spinoza, ” Kissinger, Zakaria, ” Jeremi Suri, ” “ Kissinger, Peter Bergen, Christopher Hitchens, Henry Kissinger David Andelman, Joe Biden, Phil Hands, Frida Ghitis, it’s, Netanyahu, Ghitis, Hani Almadhoun, Almadhoun, ” Elon, Jill Filipovic, X, Dean Obeidallah, Keith Magee, Lisa Benson, GoComics.com, Dominic Erdozain, Ronald Reagan, , Walt Handelsman, Will Leitch, William Faulkner, Robert Frost, John Steinbeck, Leitch, … I’d, ” Don’t, Dana Summers, Agency Amy Klein, Stuart E, Carter, Carmen Cusido, Sandra Day, Sandra Day O'Connor, Ron Edmonds, Traci Lovitt, O’Connor, Lovitt, Antonin Scalia, Organizations: CNN, Oxford, Merriam, Exit, Trump, White House, Republican, Democrat, Independent, Mar, Twitter, Facebook, Republicans, Affordable, , Tribune, Agency, New York Times, Biden, United Nations Relief, Works Agency, Musk’s, Islamic State, America “, National Commission, Illustrated, Sports, AP, Stanford Law, Potomac Locations: Merriam, New York, New Jersey, Roe, Georgia, Siena, optimists, European, Nazi Germany, Vietnam, Cambodia, Gaza, Israel, America, America “ America, United States, Arizona
“His life has been building the Republican majority and attaining the third-highest office in the land. Many colleagues still consider him a skillful convener of people with institutional knowledge about the workings of a Republican majority he helped build. But his inexperienced successor, Speaker Mike Johnson of Louisiana, has not sought him out for any advice on managing the fractious Republican conference. Mr. McCarthy has labored to acclimate. “After any stressful situation, it takes a while for the body to normalize,” Mr. McHenry said of the former speaker.
Persons: , Patrick T, McHenry, McCarthy’s, , McCarthy, Mike Johnson of, Johnson, Mr Organizations: Republican, Capitol, Oxford Union, New York Times Locations: McHenry of North Carolina, Mike Johnson of Louisiana
The lawsuit in Indiana sought court-ordered fines and restrictions on TikTok for allegedly violating state consumer protection laws. Both cases reflected concerns expressed by government officials at all levels in the United States about TikTok’s ties to China through its parent company, ByteDance. Calls for a TikTok ban in the US first arose during the Trump administration and have waxed and waned in the years since, but most attempts to ban the app have been challenged in court. What comes nextUltimately, the state-level efforts in Indiana and Montana failed for many reasons, Goldman said, and policymakers should take note of this. The Indiana decision is less likely to have a nationwide impact, Goldman added, simply due to the typical obscurity of state court rulings and how state laws differ from one jurisdiction to another.
Persons: TikTok, ” Eric Goldman, , Trump, Donald Molloy, Molloy, Patrick Toomey, , ” Molloy, , Jennifer DeGroote, DeGroote, Goldman, Blake Reid, Reid Organizations: CNN, TikTok, Santa Clara University, American Civil Liberties, Security, University of Colorado Locations: Indiana, Montana, United States, China
CORTEZ, Fla.— William Fulford ’s home in a new development here didn’t lose power when Hurricane Idalia struck Florida’s Gulf Coast in August, leading to many outages in the area. It also escaped with no damage or water intrusion. The trick to its survival: The $1.3 million home built last year to be energy efficient is also great at withstanding major storms.
Persons: — William Fulford ’, Hurricane Idalia Locations: CORTEZ, Fla, , Florida’s Gulf Coast
PITTSBURGH (AP) — The momentary bliss-fueled blackouts that used to consume T.J. Watt after every big play still come. So maybe it's best to let others — like older brother J.J. Watt — serve as his hype men. Steelers head coach Mike Tomlin called Watt “the best defensive player on the planet” on Tuesday. Pittsburgh safety Minkah Fitzpatrick — himself a three-time All-Pro — laughed when asked if he took Tomlin's praise of Watt personally. “I just want to continue to be the best player I can be for myself and for this team.”___
Persons: Watt, It's, Bud Dupree, ” Watt, , “ I’ve, I’m, , Matt Canada's, Alex Highsmith, Will Levis, J.J, Watt —, Mike Tomlin, Minkah Fitzpatrick —, , Fitzpatrick, Tomlin, ” Fitzpatrick, James Conner, Conner, “ TJ, line’s, Cole Holcomb, It’s, Teryl Austin, Derek, He's, Nick Herbig, pang, I've, “ You've, Broderick Jones, you’re, Reggie White, hasn't Organizations: PITTSBURGH, Pittsburgh Steelers, NFL, Steelers, Pittsburgh, Cleveland, Baltimore, Tennessee, Titans, Steeler, of Fame Locations: Pittsburgh, Arizona, Wisconsin
In 1994, he became the first Black chef to win the James Beard Foundation's Best Chef Award. The famed chef touched on his ideology during a 1994 interview shared on YouTube by the African American Chefs Hall of Fame. Patrick's remarks weren't a knock against Black American cuisine. Instead, it was an unapologetic declaration that Black chefs can't — and won't — be pigeonholed. Black chefs at that time were fighting stereotypes that they could only excel at making soul food.
Persons: Patrick Clark's, James Beard Foundation's, Patrick, , Patrick Clark, collard, weren't, Netflix Patrick, Preston, reminisced, Stephen Satterfield, Melvin, Idella Clark, Patrick's, Michel Guerard, Michel Guérard, Guérard, Gregory Hines, Ron Galella, Keith McNally, Odeon's, Bill Clinton, Brooks Kraft, Hilary Clinton, Hay, Patrick cinched, James Beard, Danielle Reed Rivera, WaPo Organizations: Service, YouTube, African American Chefs Hall of Fame, Adams, Black, Netflix, African American Chefs Hall, Fame's, New York City Technical College —, Great Britain's Bournemouth Technical College, New York Times, Time, American Chefs Hall, Fame, Odeon, Cafe, Metro, White, Getty, White House, Washington Post, James, Columbia, Presbyterian Medical Center Locations: Hay, Washington , DC, New York City, Europe, Brooklyn , New York, New York, Great, Braganza, London, France, AFP, Britain, Cafe Luxembourg, Beverly Hills, Washington, East Coast, DC
I dislike getting involved in debates on the stock market when I am enjoying an old-fashion rum punch at a beach bar in the Caribbean, but I couldn't resist interjecting. "We'll see how the coming slowdown plays out," he said, and turned back to his discussion. The coming slowdown? More may be coming: the last week of November tends to be the strongest week of the month, Ryan Detrick, chief market strategist at Carson Group, has noted. As for earnings, which are the lifeblood for the stock market, forward earnings estimates for the next 12 months stand at record highs.
Persons: I's, Ryan Detrick, Detrick, Fundstrat's Thomas Lee, Oppenheimer's Ari Wald, Webush's Dan Ives, BMO's Brian Belski, Bespoke's Paul Hickey Organizations: EU, Hamas, Forbes, Bloomberg, Carson Group, LSE Locations: Caribbean, Antigua, British Commonwealth, London, England, American, China, Russia, Ukraine, Israel, U.S
Instead of substantially increasing my spending, I poured money into investments, added to my savings, and invested in professional development. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I've appreciated earning raises as I've grown professionally, and I typically don't change much about my life in response. As my income has continued to rise, I've never substantially increased my spending — even though I could. Here are three ways I've used my additional funds to build wealth.
Persons: , I've, I'd, Read, — oof Organizations: Service, Invest
Some aspects of choosing a live Christmas tree, like shape, color, and aroma, are subjective. Two Christmas tree experts explain how to choose between the many types of fir, pine, and spruce. Unlike fir and spruce trees, pine tree needles are clustered in groups instead of individually attached to the branch. The National Christmas Tree Association has a map for finding farms and other retailers that sell live Christmas trees. AdvertisementWhich Christmas tree has the best aroma?
Persons: , there's, Fraser, Douglas, Noble, There's, Justin G, Whitehill, Bert Cregg, It's, Cregg, Chris Keane Whitehill, it's, Frasers, he's, Jason Reed Douglas, Mel Melcon, Jerry Holt, Bert, they'll, Alex Wong, Andrew Matthews, Tim Leedy, Paul J, Richards, Robert Nemeti, Jens Kalaene, you'll, Cesar L, Laure Organizations: Service, US Department of Agriculture, North Carolina State University, of Horticulture, Michigan State University, Northwest, REUTERS, White, Los Angeles Times, Getty, Star Tribune, MediaNews, Anadolu Agency, Call, Tribune Locations: Oregon, North Carolina, Michigan, Nobles , North Carolina, Douglas, Frasers, Fraser, Pacific Northwest, Europe, Canaan, Allentown
Of that, at least $9.1 million came from a crypto wallet that U.S. blockchain analysis firm TRM Labs said was linked to pig-butchering scams. Neither did the Thai government, the Thai police or the Bangkok-based trade group Wang represented, the Thai-Asia Economic Exchange Trade Association. The crypto account registered to Wang was held at Binance, the world’s largest crypto exchange, according to three blockchain analysis firms. In April, the U.S. Department of Justice said it seized about $112 million worth of crypto linked to pig-butchering scams, without identifying suspects. The crypto account in Wang’s name was registered in November 2020, according to the financial records Reuters reviewed.
Persons: Wang Yicheng, Wang, Emma, Lisa Wolk, Erin West, Jessica Jung, West, “ I’ve, Jeremy Douglas, Binance, Bitmain, Organizations: Thai, Reuters, TRM Labs, Asia Economic Exchange Trade Association, U.S . Federal Bureau of Investigation, Secret Service, FBI, Secret, Global, U.S . Department of Justice, U.S . Treasury, United Nations Office, Drugs, Workers, KK Park, Commerce Company, Cultural Exchange Center, Overseas, United, Washington, Cultural Exchange Locations: California, Bangkok, Thai, Asia, Southeast Asia, U.S, Binance, United States, Thailand, China, Myanmar, KK, Ningbo, China’s, Xiamen
Some automakers are slowing down EV production, saying electric vehicles are too expensive. Auto execs have pointed to high prices as a big reason why demand for electric cars has slumped this year. AdvertisementHere's three reasons why electric cars are getting more affordable. Cheaper battery packsBy far the most expensive part of any EV is the battery, and spiking battery prices have hit automakers hard. "You have to get to a certain scale to really start to make money on electric cars and for the costs to go down," Valdez Streaty said.
Persons: , Kelley, Tesla, Goldman Sachs, EVs, David Browne, Patrick T, Fallon, Browne, Matthias Preindl, Stephanie Valdez Streaty, it's, Valdez Streaty, Elon, you've Organizations: Service, Ford, General Motors, EV, Atlas Public, EVs, Bloomberg, Department of Energy, Smart, Toyota, Manufacturers, ICE, Columbia University, Smith, Cox, Chicago Tribune, Getty Locations: China, Germany, Los Angeles
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at Sam Altman returning to the helm of OpenAI. Less than five days after his shocking ouster, Sam Altman is set to return to OpenAI as its CEO. Microsoft's CEO Satya Nadella, a key figure in the past few days' drama, comes out a winner. By helping to reinstall Altman at OpenAI, he stabilizes a key piece of Microsoft's AI strategy.
Persons: , NASA's James Webb, Sam Altman, JACK GUEZ, OpenAI, Altman, we're, Bret Taylor, Larry Summers, Taylor, Adam D'Angelo, Greg Brockman, OpenAI's confounder, They've, Tim Paradis, Satya Nadella, Kevin Scott, Insider's Ashley Stewart, Julie Bort, Darrin Zammit Lupi, Patrick T, Fallon Rivian, Elon Musk's, Jack Dorsey, Amr Bo Shanab, Madison, they're, Vladimir Putin, Billie Jean King, Jamie Lee Curtis, Scarlett Johansson, Hailey Bieber, John Deere, LongeviQuest's Ben Meyers, Yumi Yamamoto, Fabrizio Villatoro, Jack SteerLo, Fusa Tatsumi, they've, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, NASA's James Webb Space Telescope, Getty, Silicon, Business, Microsoft, REUTERS, Elon, Madison Ave Locations: OpenAI, AFP, OpenAI's, India, New York City, San Diego, London, New York
This story is said to have inspired the novel "Moby-Dick," and was adapted into a 2015 film. In fact, killer whales may have been key characters in the infamous incident that inspired Herman Melville's 1851 novel "Moby-Dick." "Moby-Dick" is inspired by a sperm whale, not a killer whale, sinking the whaling boat "Essex" in 1820. From there, the sailors had to fight off the conditions of the open ocean and follow up attacks by possible orca whales. The novel that resurfaced the story of the EssexPhilbrick's book is a historical recount of what happened to the real sailors that inspired Melville's tale.
Persons: Moby, Dick, , Herman Melville's, Nathaniel Philbrick's, Chris Hemsworth, Tom Holland, Cillian Murphy, Moby Dick, Essex, Hanne Strager, Philbrick, Melville, Owen Chase's, George Pollard Jr, Pollard Organizations: Service, New Bedford Whaling Museum, Smithsonian, Cruising Association, Business, New York Times Locations: Strait, Gibraltar, Essex, Nantucket, Polish, Moroccan, Danish
Sam Altman Will Not Return as CEO of OpenAI
  + stars: | 2023-11-20 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
Sam Altman Will Not Return as CEO of OpenAISam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him did not agree to the proposed terms of his reinstatement. Emmett Shear, former CEO of Twitch, was named interim CEO, according to people with knowledge of the matter. Photo: Patrick T. Fallon/Agence France-Presse/Getty Images
Persons: Sam Altman, Sam Altman’s, OpenAI, Emmett Shear, Patrick T Organizations: Fallon, Agence France
Sam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him didn’t agree to the proposed terms of his reinstatement. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO—Microsoft said it is hiring Sam Altman to helm a new advanced artificial-intelligence research team, after his bid to return to OpenAI fell apart Sunday with the board that fired him declining to agree to the proposed terms of his reinstatement. Microsoft Chief Executive Satya Nadella posted on X (formerly Twitter) late Sunday that Altman and Greg Brockman , OpenAI’s president and co-founder who resigned Friday in protest over Altman’s ouster, will lead its team alongside unspecified colleagues. Nadella said Microsoft was committed to its partnership with OpenAI and that it would move quickly to provide Altman and Brockman with “the resources needed for their success.”
Persons: Sam Altman’s, OpenAI, Patrick T, Sam Altman, Satya Nadella, Altman, Greg Brockman, Nadella, Brockman, Organizations: Fallon, Agence France, Microsoft, OpenAI
Sam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him didn’t agree to the proposed terms of his reinstatement. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO— Sam Altman ’s bid to return to OpenAI after being ousted Friday faltered late Sunday, as the board that fired him refused to agree to the proposed terms of his reinstatement and quietly found someone else to take Altman’s spot. Emmett Shear, former chief executive of Twitch, was named interim CEO, according to people with knowledge of the matter. Altman was shocked by the decision, previously feeling confident he would be able to return to the company he co-founded, according to a person familiar with his thinking.
Persons: Sam Altman’s, OpenAI, Patrick T, Sam Altman ’, Emmett Shear, Altman Organizations: Fallon, Agence France
Now the edifice may finally be cracking: The #MeToo movement is picking up pace in the medical profession. Dr. Hadden was an obstetrician-gynecologist who was first arrested when a patient called the police and reported that he had licked her genitals during an exam. Though I was working at the medical center while the accusations unfurled, I wasn’t aware of them until more recently. Even after Dr. Hadden was found guilty, Columbia did not notify all of his patients about his behavior. On Nov. 23, the one-year look-back window closes for past patients to sue Dr. Hadden and the medical center.
Persons: it’s, Darius Paduch, Zhi Alan Cheng, Derrick Todd, Brigham, Cheng, Todd, Dr, Robert Hadden, Hadden, Newman’s, Aja Newman, Newman, Dr . Hadden, HIPAA, . Hadden Organizations: Presbyterian Queens Hospital, Harvard, Women’s, Columbia, New York Locations: New York, NewYork, Columbia, Sinai
Former OpenAI Chief Executive Sam Altman has told allies that he wants a new board and governance structure if he returns to the company. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO—Two days after Sam Altman was ousted from OpenAI, he was back at the company’s office, trying to negotiate his return. The former chief executive officer entered with a guest badge on Sunday and posted on X: “first and last time i ever wear one of these.”
Persons: Sam Altman, patrick, Organizations: OpenAI, fallon, Agence France
AdvertisementDebris litters the Starship launchpad, with damaged fuel tanks visible in the background. PATRICK T. FALLON / Contributor / Getty Images"What we found was that it's comparable to a volcanic explosion," Metzger told WMFE's Brendan Byrne. Members of the public walk through a debris field around the Starship launchpad at SpaceX's facilities near Boca Chica, Texas. SpaceX plans to launch Starship again this weekend, minus the volcano-like explosionThat first space-bound Starship launch ultimately ended with the rocket itself exploding in mid-air. "I think they've completely solved the problem," Metzger told WMFE.
Persons: , Philip Metzger, Joe Skipper, PATRICK T, FALLON, Metzger, WMFE's Brendan Byrne, That's, Elon Musk, Ashlee Vance, X, Musk, Vance, WMFE, Wednesday Musk Organizations: SpaceX, Service, University of Central, Reuters, Getty, Business, Wednesday Locations: University of Central Florida, Texas, Florida, Boca Chica , Texas
OpenAI CEO Sam Altman is out, the company's board said late Friday. Mira Murati, OpenAI's chief technology officer, will replace Altman as the interim CEO. "A member of OpenAI's leadership team for five years, Mira has played a critical role in OpenAI's evolution into a global AI leader. Murati joined OpenAI as a researcher in 2018 when the company had just 40 to 50 employees, she told Fortune. "Our goal is to get to AGI, and we want to get there in a way that makes sure that AGI goes well for humanity," Murati told Fortune.
Persons: Sam Altman, Mira Murati, Altman, , Mira, OpenAI, PATRICK T, FALLON, Murati, ChatGPT, Tesla, Eugene Gologursky, She's, AGI, Getty, Rainer Maria Rilke Organizations: Service, Albania who's, Murati, Dartmouth, OpenAI, Time Magazine, Radiohead Locations: Albania, Murati, AGI, Silicon Valley, Vancouver
Wall Street expects Nvidia (NVDA) to deliver another strong quarterly report Tuesday, as its cutting-edge artificial intelligence chips remain a hot, hard-to-get commodity. The recent trading in Nvidia's stock reflects that optimism, with shares up nearly 20% in November alone. "I don't like the so-called setup," Jim Cramer said, referring to the huge run-up in shares ahead of earnings. It's one piece of evidence behind investors' belief that Nvidia's upcoming earnings report will clear the high bar that's been set. Microsoft hasn't officially disclosed how the Maia 100's performance compares with Nvidia's top-end AI chip and AMD's MI300.
Persons: Jim Cramer, Jim, he's, , Goldman Sachs, LSEG daa, Goldman, Morgan Stanley, workloads, Maia, Microsoft hasn't, BofA, Jim Cramer's, Hsun Huang, Patrick T Organizations: Nvidia, LSEG, Investor, Microsoft, Big Tech, Goldman, Street, Financial Times, Micro Devices, Wednesday, Google, Web Services, Bank of America, AMD, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Los Angeles , California
Opinion: Marjorie Taylor Greene botches the explanation
  + stars: | 2023-11-12 | by ( Richard Galant | ) edition.cnn.com   time to read: +18 min
We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —On the day after Republicans lost pivotal races in Kentucky, Ohio and Virginia last week, Rep. Marjorie Taylor Greene offered a diagnosis for her party’s ills. On Tuesday, Ohio voters passed an amendment to the state constitution that guarantees abortion rights. The disconnect may or may not cost Trump votes in 2024, but it’s hurting Republicans up and down the ballot. “Democrats will win in 2024 by making the election a choice, not just a referendum on Biden’s performance in office.
Persons: Marjorie Taylor Greene, CNN’s Manu Raju, Donald Trump, Roe, Wade, Trump, , Kate Bedingfield, Joe Biden’s, Youngkin, ” Bill Bramhall, Bedingfield, They’ll, Julian Zelizer, Biden, ” Clay Jones, ” Clay Jones Republican Lanhee Chen, — don’t, Chen, , ” Mary Ziegler, Davis, Republicans don’t, Comstock, Nikki Haley, Ana Marie Cox, Ron DeSantis, Vivek Ramaswamy, Dick Cheney, ’ Haley, Haley, Ramaswamy, , Haley “, ” Patrick T, Brown, ” Roxanne Jones, DeSantis, Todd Graham, Bill Bramhall, Mary Ellen O’Connell, ” “, ” John Spencer, he’s, Al Qaeda, Peter Bergen, Israel, Hani Almadhoun, Suzanne Nossel, Frida Ghitis, Walt Handlesman, Ivanka Trump, Elliot Williams, Letitia James, Williams, ” Williams, Nick Anderson, Ian Berry, Bob Dylan, Anna Lee, I’d, William, I’ll, Bethany McLean, Joe Nocera, Dr, Kent Sepkowitz, ” Sepkowitz, ” Don’t, Corey Mintz, DoorDash, Paul Rieckhoff, Jill Filipovic, Shannon Watts, Jade McGlynn, Keith Magee, King Charles, Sara Stewart, Priscilla ’, Barbra Streisand, CHANEL, Presley Ann, Patrick McMullan, Holly Thomas, James Brolin, Barbra’s, Thomas Organizations: CNN, Republicans, Trump, , White House, State Senate, Biden, ” Clay Jones Republican, University of California, Department of Justice, Florida Gov, Republican, Senate, Content Agency Israel, Hamas, University of Notre Dame, Modern War, Twitter, Facebook, ISIS, Content Agency Trump, New York, Trump Organization, “ Trump, , Tribune, Agency, College of, Getty, BBC Locations: Kentucky , Ohio, Virginia, Georgia, , Mexico, Ohio, State, Michigan, Pennsylvania, Arizona, Kentucky, Mississippi, Florida, Miami, Hialeah , Florida, Trump, Israel, Gaza, Hamas, West, Mosul, Raqqa, Manhattan, New York City, Ukraine, Malibu , California, Greenwich Village
How WeWork Went From $47 Billion Unicorn to Bankrupt Penny StockWeWork, once a venture-capital darling, has filed for chapter 11 bankruptcy. WSJ breaks down how the desk-rental giant co-founded by Adam Neumann went from highflying startup to bankrupt penny stock. Photo: Patrick T. Fallon/AFP/Getty Images
Persons: Penny Stock WeWork, Adam Neumann, Patrick T, Fallon Organizations: Penny, Getty Locations: AFP
The WeWork logo is displayed outside of a shared commercial office space building in Los Angeles, California on August 8, 2023. The bankruptcy filing is limited to WeWork's locations in the U.S. and Canada, the company said in a press release. The company reported liabilities ranging from $10 billion to $50 billion, according to a bankruptcy filing. Valued in 2019 at $47 billion in a round led by Masayoshi Son's SoftBank, the company tried and failed to go public five years ago. The company leases millions of square feet of office space in 777 locations around the world, according to its regulatory filings.
Persons: WeWork, Patrick T, Fallon, PATRICK T, FALLON, David Tolley, Masayoshi Son's SoftBank, Adam Neumann, Neumann, Kirkland, Ellis, Cole Schotz, PJT, CNBC's Ari Levy Organizations: Securities and Exchange Commission, SEC, Getty, New York Stock Exchange, CNBC, PJT Partners, C Street Advisory Group, Alvarez, Marsal Locations: Los Angeles , California, AFP, New Jersey, U.S, Canada
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