Reply to Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The world's (formerly) richest man stops paying rent !!!??? on Twitter's offices due to the turmoil at the company?  Holy cr*p.  Sounds like he is doing a GREAT JOB

https://www.marketwatch.com/story/elon-musk-has-reportedly-stopped-paying-rent-on-twitter-offices-and-told-staff-not-to-pay-vendors-11671019938[/quote]

I suspect it’s a gambit to get lower rent.  Commercial landlords are hurting bad now and may reduce twitters rent rather than evict and fight with them.  The flip side of course is that the landlords cannot let it be known that this is all you need to do to get a better deal or every tenant will do it.  And that’s a particularly big concern with a high profile company like Twitter.[/quote]

He has to make interest payments on $13b of debt, or twitter ends up in the hands of the banks.  He's doing everything possible to hold onto cash, including selling off furniture and equipment.  He might stiff people on severance.  [/quote]

What he doesn't pay in severance, he'll pay in lawyer fees.  If he has competent legal help, they're going to need some pretty fat retainers.[/quote]

Stopping payment on all of the things listed in the article strongly suggests Twitter is planning to file for bankruptcy any day now.  Then everyone who wants to sue Twitter will have to do it through the bankruptcy court, and it lets Twitter hold onto cash that could be used to negotiate a debt restructuring rather than having to chase everyone who was paid through clawback proceedings. [/quote]

Zeroing out every employee’s stock options seems like a great way to go from under staffed to not having a staff[/quote]

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