Rome falls slowly, then all at once:
NYT: "To cut costs, Twitter has not paid rent for its San Francisco headquarters or any of its global offices for weeks, three people close to the company said. Twitter has also refused to pay a $197,725 bill for private charter flights made the week of Mr. Musk’s takeover, according to a copy of a lawsuit filed in New Hampshire District Court and obtained by The New York Times."
https://www.nytimes.com/2022/12/13/technology/elon-musk-twitter-shakeup.html
@joshsternberg I don't mean to defend this feckless turd, but I used to work in distress PE, and not paying rent is a fairly effective way to re-negotiate lease sin some cases
Though based on his recent track record, I don't get the sense he's played through the strategic steps to make that happen effectively...
@joshsternberg Based on how he mucked up the layoffs and walked into massive WARN liabilities, I'd bet he didn't scrub the leases for security interest or guarantees. Or who the landlords are.
When you default the Blackstone's of the world they sue for eviction and full payment as soon as possible!
Josh Sternberg
Listen Occasionally