4 ms·

How is that going to fly with a public company?

• bradstewart 7y ago
  As long as the lease rates are inline with the market rates, shouldn't be an issue.
• elliekelly 7y ago
  Page 28 discusses it. They have an interesting approach to managing the conflict: > Pursuant to our related party transactions policy, all additional material related party transactions that we enter into require either (i) the unanimous consent of our audit committee or (ii) the approval of a majority of the members of our board of directors. I was pretty impressed when I read "unanimous consent of our audit committee" but then it all went out the window when I saw or the majority of the Board. The company CEO/landlord is the person with the major conflict of interest. He also has the majority voting power of the company stock and will control the board. WeWork's attempt to mitigate this conflict of interest is nothing but smoke and mirrors.
  • ohashi 7y ago
    That board position is the key problem. The conflict of interest isn't addressed at all.