The Challenges Faced by Direct-to-Consumer Companies The direct-to-consumer boom is coming to an end. A once-bustling group of companies, backed by billions in venture capital funding, saw a record year for IPOs in 2021. Now, three years later, most of those direct-to-consumer, or DTC, companies still struggle with profitability. “It’s that profitability angle now that…
SoftBank’s Arm Investment Outshines WeWork Losses in After-Hours Trading Masayoshi Son’s SoftBank Makes Significant Gains with Arm’s After-Hours Trading Masayoshi Son’s SoftBank made more in Arm’s after-hours trading on Wednesday than the total amount the company lost from its disastrous bet on now-bankrupt WeWork. Arm shares rocketed as much as 41% late Wednesday after the…
Audacy Files for Chapter 11 Bankruptcy Protection to Reduce Debt Audacy, the radio and podcast giant, announced on Sunday that it has filed plans for Chapter 11 bankruptcy protection in Texas in order to significantly reduce its debt. The restructuring agreement will enable Audacy to reduce its total debt by 80%, bringing it down to…
Bitcoin Price Expectations for 2024 Bitcoin had a significant rally in 2023, with the digital currency up 152% for the year. Despite some challenges, commentators expect the rise to continue. With high-profile cases behind us, cryptocurrency executives view this as an opportunity to move forward. Fervor is returning to the crypto markets, with industry executives…
Stellantis Proposes Raises and End to Wage Tiers in Showdown with UAW Stellantis, the parent company of Jeep, has made a new proposal to the United Auto Workers (UAW) that includes significant raises and an end to wage tiers. The proposal, which aligns with those from Ford and General Motors, offers nearly 21% in pay…
: Electric Companies in the Western U.S. Facing Lawsuits Over Failure to Prepare for Extreme Weather Hawaiian Electric Sued for Alleged Negligence in Devastating Wildfires Industry Slow to Adapt to Climate Change Poses Existential Threat to Utilities Aging Infrastructure and Increasing Disasters Amplify Risk Expensive Solution Needed to Reinforce Electric Infrastructure Against Extreme Weather Industry…
WeWork Faces Possible Bankruptcy Amidst Financial Challenges Introduction Four years ago, WeWork was preparing for a blockbuster IPO. Now the company is warning of possible bankruptcy. Financial Difficulties “Our losses and negative cash flows from operating activities raise substantial doubt about our ability to continue as a going concern,” WeWork said in a filing with…
Xpeng Secures $700 Million Investment from Volkswagen for Joint Development Chinese electric car startup Xpeng has announced a major collaboration with Volkswagen, receiving a $700 million stake to jointly develop two cars specifically designed for the Chinese market. This partnership comes at a crucial time for Xpeng, as the company seeks funding, while foreign automakers…
New Jersey Baby Retailer Acquires Buy Buy Baby Leases, Poised to Reopen Stores Background The New Jersey baby retailer that bought Buy Buy Baby’s intellectual property from its bankrupt parent company, Bed Bath and Beyond, including its trademark, business data, and internet properties, for $15.5 million in a previous auction, has also acquired 11 of…
According to seven people familiar with the question, Johnson & Johnson is exploring a plan to offload accountability from the widespread Baby Powder litigation in a new creative business that would then seek bankruptcy protection. During the discussions on the settlement, some people said that one of the health conglomerate attorneys told plaintiffs’ attorneys that…
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