As WeWork Grew, Wall Street Lent It Money and Credibility

Banks jockeying for a role in WeWork’s public debut wooed founder Adam Neumann with sky-high valuations that would make him a billionaire many times over. Their loans to the company told a different story. JPMorgan Chase & Co., Goldman Sachs Group Inc. and other banks arranged giant fees and strict protections that reflected their concerns…

Banks jockeying for a role in WeWork’s public debut wooed founder Adam Neumann with sky-high valuations that would make him a billionaire many times over. Their loans to the company told a different story.

JPMorgan Chase & Co., Goldman Sachs Group Inc. and other banks arranged giant fees and strict protections that reflected their concerns about WeWork’s unproven business model and Mr. Neumann’s unpredictable behavior.

When…

Read More

Related articles

A Pathetic Parent, Chasing a Christmas ‘It Toy’

IMPORTANT NOTE: This column contains Santa Claus spoilers. If you are under the age of 200 and do not wish to read Santa spoilers, stop here. If you read any further, Virginia, don’t blame me for ruining everything. Blame Santa. Before I had children, I’d laugh at parents I’d see on the news around the…

J.C. Penney Plots a Comeback: Less Clutter, More Yoga Classes

A glimpse at a future for J.C. Penney Co. can be found in Hurst, Texas, where a remodeled store has a fitness studio, a videogame lounge and style classes. But don’t expect your local Penney to get this new look soon. The struggling retailer plans to test ideas at this store before rolling them out…