Month: October 2020

WeWork CEO Sandeep Mathrani (Wikimedia) WeWork has doubled down on its demand for rent from members unable to pay, in some cases threatening debt collection if clients don’t fork over the money. Covid-related eviction moratoriums in many cities, including New York, have been extended, offering some relief to commercial and residential tenants. But WeWork has…

Jeff Bezos (Getty, iStock) How much capacity is too much? For Amazon, the limit doesn’t exist. At least not yet. The e-commerce giant — which has been adding warehouses at a dizzying clip across the nation — is on track to expand its fulfillment and transportation capacity by 50 percent, it said. The company has…

Bob Sulentic (Getty, iStock) CBRE’s income fell nearly 10 percent during the third quarter as the pandemic forced large office tenants to put their leasing decisions on hold. Income for the world’s largest real estate services firm fell 9.2 percent from July through September compared to the same time last year to $245 million, the…

Up to 100 IHOP restaurants could close, said parent company Dine Brands Global, after third-quarter sales fell 19 percent. (Getty) In these times, even pancakes can’t cheer us up. The parent company of IHOP restaurants said sales fell 18.7 percent in the third quarter, triggering a review of underperforming locations. As many as 100 might…

Tomo’s Greg Schwartz and Carey Armstrong (Photos via Tomo Network) In Silicon Valley, the typical seed round for a new venture is around $1 million — maybe $3 million. But a new digital mortgage company, started by two former Zillow execs, has just launched with $40 million. Tomo, which bills itself as a fintech startup, announced…

Zillow’s Rich Barton (iStock) Zillow has cut 80 jobs from its home buying and selling business, despite its big bet on the burgeoning sector. The real estate giant doesn’t disclose how many of its 5,300 employees work for Zillow Offers. But a spokesperson told GeekWire the cuts would allow the company to invest in iBuying…

The decline in contract activity may signal a drop in sales in the coming months (iStock) After four months of growth, the number of U.S. homes going into contract declined in September, indicating a slowdown in homebuyer demand. A National Association of Realtors index of pending home sales dropped 2.2 percent last month, compared to…

Glorya Kaufman and the Hearst estate (Getty, The Agency) Glorya Kaufman cannot shake the litigation labyrinth that is Fortress Investment Group’s battle to recoup $50 million it lent to Leonard Ross, the owner of the William Randolph Hearst mansion. The Los Angeles County Superior Court denied Kaufman’s motion to kill a breach-of-contract complaint filed by…

Donald Trump and the Trump Tower in Chicago (Getty, Trump Org.) When the Great Financial Crisis threatened the biggest thing he had ever built, Donald Trump strong-armed his lenders into letting him off the hook on $270 million in loans, according to the New York Times. The tactic was indicative of how, over the course…

Note: These items are independently selected by our team. However, TRD may receive a commission when you purchase products through affiliate links. Back before the work-from-office days, desk decorating became something of an art form. Whether it was a hand-me-down gifted from a former colleague, a cool calendar or the green pop of a plant,…