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I did some digging on this where I work, because I thought I was starting to taste tinfoil. Six out of eight of the board members are involved with companies l
by btbuildem 2y ago
I did some digging on this where I work, because I thought I was starting to taste tinfoil.
Six out of eight of the board members are involved with companies located not just in the same state but clustered around the same area. Three of these companies have buildings in the same business park. All these companies have inflicted similar RTO mandates on their employees.
I went through our financial statements -- commercial leases were set to expire this year, they've renewed them for another thirteen (!) years and committed $100M to office space improvements. They've frozen hiring, they're cutting costs wherever they can, but they found it reasonable to dump $25M each quarter on leasing costs?
Whenever something like this is "difficult to comprehend" as the article obediently avoids scratching the surface, my first guess is that someone's making money off it. Is it board members with real-estate investments? Is it organized crime? Is it Blackrock and Vanguard (majority shareholders btw)? At this point, why not all three?