Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-64406 Mon, 19 Nov 2018 15:09:12 GMT Goldman Sachs To Offer Free Sex Changes For British Staff http://implode-explode.com/viewnews/2018-11-19_GoldmanSachsToOfferFreeSexChangesForBritishStaff.html iehi-feed-64399 Thu, 15 Nov 2018 21:00:15 GMT "Too Big to Fail" author says WeWork may now be "too big to fail" http://implode-explode.com/viewnews/2018-11-15_TooBigtoFailauthorsaysWeWorkmaynowbetoobigtofail.html Andrew Ross Sorkin -- author of "Too Big to Fail" -- argues in his latest DealBook column for the New York Times that WeWork now has so much space in so many cities, its landlords can't afford to let it go under.

The co-working giant now controls 15.5 million square feet across 335 locations in 24 countries and says it is the largest tenant in Manhattan, Washington D.C. and London. So, when the next economic downturn arrives, WeWork's landlords might not be able to evict it even if it can't pay its rent... a more likely outcome would be for landlords to "swallow hard and renegotiate the lease agreements on more favorable terms to keep WeWork from creating a full-on panic." They could also have the company start acting as a property manager in the vein of Marriott, which manages rather than owns or leases hotels.

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iehi-feed-64398 Thu, 15 Nov 2018 14:43:17 GMT Sore Loser Dan Gilbert And His Lawyers Go Full Blown Joan Crawford http://implode-explode.com/viewnews/2018-11-15_SoreLoserDanGilbertAndHisLawyersGoFullBlownJoanCrawford.html iehi-feed-64394 Wed, 14 Nov 2018 14:56:07 GMT WeWork raises $3bn from SoftBank as losses balloon http://implode-explode.com/viewnews/2018-11-14_WeWorkraises3bnfromSoftBankaslossesballoon.html WeWork has secured an additional $3bn of funding from SoftBank at a $42bn valuation even as the flexible office provider's losses ballooned to $2bn on an annual basis.*SoftBank will inject the funding next year in exchange for a warrant enabling it to buy new WeWork shares by the end of September 2019, at a price that will lift the group's valuation from the $20bn figure reached in its last equity funding round.The fresh multibillion dollar commitment from SoftBank increases WeWork's cash pile and cash commitments to a total of $6.4bn, according to an investor presentation seen by the Financial Times on Tuesday.Artie Minson, chief financial officer, said the funding was "opportunistic". "The way we work with SoftBank emphasises speed and getting it done quickly . . . that speaks to the overall momentum in the business," he said.The fresh funding came as privately owned WeWork said its losses in the nine months to September had nearly quadrupled from a year earlier to $1.2bn.

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"Our view is that there is tremendous wind at our back -- we are the only serious global player out there," he said."Our growth is actually accelerating as our product offering continues to go deeper and reach not just small-sized companies but Fortune 500 companies and everything in between.

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iehi-feed-64388 Tue, 13 Nov 2018 17:31:49 GMT Anatomy of the Housing Downturn in Vancouver http://implode-explode.com/viewnews/2018-11-13_AnatomyoftheHousingDownturninVancouver.html iehi-feed-64383 Sun, 11 Nov 2018 20:18:46 GMT New York City Raids Condo Building in Crackdown on Airbnb Rentals http://implode-explode.com/viewnews/2018-11-11_NewYorkCityRaidsCondoBuildinginCrackdownonAirbnbRentals.html A team of New York City law-enforcement officers swarmed a Manhattan condominium last month, issuing 27 notices of violations for illegal hotel use in one of the largest crackdowns on short-term rentals such as those listed on Airbnb.

The raid at the Atelier, a 46-story Midtown luxury tower, may be a sign of what's to come. New York and other cities are seeking to limit short-term rentals that can run afoul of local laws designed to limit hotel-style stays in residential buildings.

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iehi-feed-64382 Sun, 11 Nov 2018 20:02:41 GMT Ocwen Stock Plummets Faster Than Contestants On A Japanese Game Show. http://implode-explode.com/viewnews/2018-11-11_OcwenStockPlummetsFasterThanContestantsOnAJapaneseGameShow.html iehi-feed-64381 Sat, 10 Nov 2018 18:33:11 GMT Manafort's Former Son-In-Law Busted Again In RE Scam http://implode-explode.com/viewnews/2018-11-10_ManafortsFormerSonInLawBustedAgainInREScam.html iehi-feed-64380 Sat, 10 Nov 2018 14:22:55 GMT Federal Trade Commission Busts $100M Real Estate Scam In Belize http://implode-explode.com/viewnews/2018-11-10_FederalTradeCommissionBusts100MRealEstateScamInBelize.html iehi-feed-64370 Thu, 08 Nov 2018 14:27:53 GMT Ditech Holdings Booted From The New York Stock Exchange http://implode-explode.com/viewnews/2018-11-08_DitechHoldingsBootedFromTheNewYorkStockExchange.html iehi-feed-64369 Thu, 08 Nov 2018 02:45:38 GMT California rejected rent control, but Sacramento may do it http://implode-explode.com/viewnews/2018-11-07_CaliforniarejectedrentcontrolbutSacramentomaydoit.html Prop. 10. would have overturned the state's Costa Hawkins Rental Housing Act, which bans local governments from imposing rent control on any apartment built since 1995. It also bans rent control as well on any single-family residence that is being used as a rental unit.

Had Prop. 10 passed, the Sacramento effort would have covered all renters throughout the city.

Instead, the Sacramento rent control initiative likely will affect about 72 percent of the city's 106,000 rental units, based on numbers from the city of Sacramento rental housing inspection program, Pariset said...

The proposal, called the "Sacramento Community Stabilization and Fair Rent Charter Amendment," stipulates that annual allowable rent increases could range from a maximum of 2 percent per year up to a maximum of 5 percent each year.

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iehi-feed-64359 Mon, 05 Nov 2018 14:57:14 GMT Hudson Valley Credit Union Settles Claims Of Screwing Military Personnel http://implode-explode.com/viewnews/2018-11-05_HudsonValleyCreditUnionSettlesClaimsOfScrewingMilitaryPersonnel.html iehi-feed-64358 Sun, 04 Nov 2018 19:33:06 GMT Credit Bureaus Can Report Your Foreclosure Even If You Beat The Bank http://implode-explode.com/viewnews/2018-11-04_CreditBureausCanReportYourForeclosureEvenIfYouBeatTheBank.html iehi-feed-64353 Fri, 02 Nov 2018 13:08:20 GMT Aretha Franklin Estate Selling Her Detroit Home For C-H-E-A-P http://implode-explode.com/viewnews/2018-11-02_ArethaFranklinEstateSellingHerDetroitHomeForCHEAP.html iehi-feed-64349 Wed, 31 Oct 2018 15:50:22 GMT Dan Gilbert's Amrock Title Ordered To Shell Out $740 Million http://implode-explode.com/viewnews/2018-10-31_DanGilbertsAmrockTitleOrderedToShellOut740Million.html iehi-feed-64345 Tue, 30 Oct 2018 12:51:00 GMT The Massachusetts Courts Greenlight New FHA Foreclosure Defense Strategy http://implode-explode.com/viewnews/2018-10-30_TheMassachusettsCourtsGreenlightNewFHAForeclosureDefenseStrategy.html iehi-feed-64337 Sun, 28 Oct 2018 13:15:03 GMT More trouble for Wells Fargo? http://implode-explode.com/viewnews/2018-10-28_MoretroubleforWellsFargo.html iehi-feed-64336 Sun, 28 Oct 2018 13:13:31 GMT Diamond Residential Mortgage to pay $1.28 million after rogue branch manager defrauds homebuyers http://implode-explode.com/viewnews/2018-10-28_DiamondResidentialMortgagetopay128millionafterroguebranchmanager.html iehi-feed-64335 Sat, 27 Oct 2018 20:54:29 GMT MAGA Bomber Was A Victim Of An Illegal Foreclosure By Steve Mnuchin http://implode-explode.com/viewnews/2018-10-27_MAGABomberWasAVictimOfAnIllegalForeclosureBySteveMnuchin.html iehi-feed-64333 Fri, 26 Oct 2018 17:38:56 GMT Here Comes The Housing Bust "Reverse Wealth Effect," (AU, UK and CA kick into full downswing) http://implode-explode.com/viewnews/2018-10-26_HereComesTheHousingBustReverseWealthEffectAUUKandCAkickintofulld.html House prices ‘falling by over $1,000 a week' in Sydney and Melbourne, Deloitte says... The boom time is over and we're now officially experiencing the "house price fall we had to have", according to Deloitte Access Economics's latest business outlook.

It has found what many had been predicting: prices are dipping as interest rates are rising, with our biggest cities feeling the winds of change most keenly.

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The above chart shows that the UK -- which had an epic housing boom along with, not coincidentally, one of the world's most extreme consumer credit bubbles -- now has falling home prices. Australia just tipped into negative territory with Canada right on the cusp.

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