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$100m/yr for office costs are high, assuming these bills are actually being paid everywhere. They've been evicted from their Colorado office and have been sued
by rchaud 3y ago
$100m/yr for office costs are high, assuming these bills are actually being paid everywhere. They've been evicted from their Colorado office and have been sued for not paying rent at a SF office,[0]
Either way, it pales in comparison to the $300m/qtr they're on the hook for for interest payments to banks that financed $13bn of the deal.
[0]https://globalnews.ca/news/9385713/twitter-overdue-rent-san-francisco-offices/ https://globalnews.ca/news/9385713/twitter-overdue-rent-san-...
- sidewndr46 3y agoWow, they owe $1.2 billion US just in interest each year? I knew the terms were nuts, but I had no idea it was that bad.
- genmud 3y agoJust because they have been evicted doesn’t mean they aren’t responsible for the remainder of the lease. Like when he tried to not close the twitter deal, just because you don’t wanna pay doesn’t mean you can arbitrarily back out of a contract.
- rchaud 3y agoOK, but having millions in accounts payable is not the same as actually having it flow out of the company and hit your operating cash reserves. That's what happening with their loan payments, at a significantly higher scale than vendors they simply haven't paid, and are hoping to shake down for better terms.