Anne ApplebaumAnother way to put this: " Musk has decided to steal the rental fees from the owners of the buildings." Also "Musk has decided to cheat his former employees"
John Yates@anneapplebaum #BoycottElonMusk I won't ever buy a Tesla or ride in any craft the twit makes. And I left #twitter weeks ago. And the US government should not give him ANY grants or subsidies!
Dollar Store Publius@anneapplebaum not paying off his debts - another way Elon is Trumpian.
Dudadius :: Bryan Rheude@anneapplebaum wonder what he would do if I stopped paying my tesla lease…
Techronic9876@anneapplebaum @ppatel cheating employees is bad, but putting downward pressure on rents is good
Pratik Patel@Techronic9876 @anneapplebaum In general, I agree. But there's an existing contract. It's not like that's his goal. Requiring employees to show up in a building means that one takes on the responsibility of maintaining a place to which they can actually show up. The man appears to not know how a business is run. As I've said before, he's not that smart, just ambitious and has a cultish following of people who know how shit gets done.
Patty Kimura@Techronic9876 @anneapplebaum @ppatel Breach of contract. Yup, let's applaud a Nazi billionaire for doing his bit for the poor people of San Francisco by forcing non-billionaire landlords to recoup the Nazi billionaire's breach of lease losses from other non-billionaire tenants. Now do Trump.
Toni Aittoniemi@anneapplebaum The megalomania is settling in. 🍿!
J.H.NoyesElon Mudgett
MRasty@anneapplebaum not paying former employees their packages and rent seems like the kind of things he will get sued over and lose….so why not just do it? gross
John G Fitzgerald@anneapplebaum Inability to pay legally due expenses like employee payments & contracted rent is one of the surest signs of imminent bankruptcy.
Dorian Pond@j_g_fitzgerald @anneapplebaum it's got to be. There's no way he'll be able to win those lawsuits.
It would be funny if he was evicted, however
Rowena Pelayo@anneapplebaum Also Musk unable to pay his bills because he may have cash flow problems
Smithra@anneapplebaum VeryTrump like...Never paying his bills!
Martin Nutty
Russ Copeland@anneapplebaum at a certain point it's going to be very difficult to defend the very rich, and the accumulation of that kind of wealth. There is a tipping point....
Devan Stormont@anneapplebaum It's almost as if being forced to uphold a (painfully overpriced) business contract by a court of law has... taught nothing about adhering to laws.
Chris GallagherNever trust a Russian asset.
Cassandra Parkinson@anneapplebaum
Looks like cashflow problems. Although he's sacked people, his costs won't go down for a couple of months, maybe longer. But with all that lost advertising he can't bring in enough revenue to cover his losses. So, can he make up the lost revenue with subscriptions, can he inject more of his own funds or is it just a matter of time before Twitter declares bankruptcy?
Looks like cashflow problems. Although he's sacked people, his costs won't go down for a couple of months, maybe longer. But with all that lost advertising he can't bring in enough revenue to cover his losses. So, can he make up the lost revenue with subscriptions, can he inject more of his own funds or is it just a matter of time before Twitter declares bankruptcy?
Steve@priamsdaughter @anneapplebaum
The only way to avoid bankruptcy is a lasting commitment to inject funds from his other investments. Most advertisers aren't interested in the _Lord of the Flies_ mess the #SickBird is becoming. And the only people paying subscription fees are pranksters and Musk fanboys.
As soon as enough creditors get nervous, bankruptcy is inevitable.
And then Musk will boast that he bought it to shut it down.
With a skeleton crew of staff, it might just crash.
@anneapplebaum And here we are:
"Elon Musk has sold another $US3.6 billion ($5.2 billion) in Tesla stocks, taking his total near $US40 billion this year, frustrating investors as the company's shares wallow at two-year lows."
"Elon Musk has sold another $US3.6 billion ($5.2 billion) in Tesla stocks, taking his total near $US40 billion this year, frustrating investors as the company's shares wallow at two-year lows."
@anneapplebaum Has decided? More like Is stealing from landlords and employees. How come he gets “to decide” not to pay?
@anneapplebaum Musk is a cheat, a liar, and a thief.
"Elon. Kanye. Trump."
"Elon. Kanye. Trump."
@anneapplebaum
Cheating landlords and vendors is something that he'll be able to get away with -- if he goes to #bankruptcy court.
But cheating employees and contractors is a very bad idea. By California law, it's #WageTheft. In a lawsuit, failure to pay wages or salary can be prosecuted as a felony, and because the Twit has no more payroll department to blame, he could be personally charged. Statue of limitations is two years for a verbal contract, four years for a written contract.
/1
@anneapplebaum
But criminal prosecution is a hard road, and likely to be pursued only by stiffed employees who are both really angry and able to wait to get paid.
Wage theft is also a civil offense. Employees are entitled to double restitution, plus interest. It looks like a lot of people will be eligible. Even late paychecks count, and with the payroll department gone it could be difficult to pay anyone.
I'm not a lawyer so I'm citing this:
https://www.shouselaw.com/ca/labor/wage-theft-in-california-what-workers-need-to-know
/end
Alexander Ruthol@anneapplebaum
I think I would put it as "it appears Twitter is going to file for bankruptcy in the near future".
I think I would put it as "it appears Twitter is going to file for bankruptcy in the near future".
trishanderton@anneapplebaum It’s absurd that the NYT is presenting *not paying your bills* as cost-cutting.
Anne Sagebiel@anneapplebaum he's a terrible human being and nothing that he's doing surprises me at all.
newsorpigal@anneapplebaum
I don't understand this. Won't the landlord send the rent for collections?
I don't understand this. Won't the landlord send the rent for collections?