Lane Furniture terminates 2,500 employees via Email.

Scottl · Nov 26, 2022

jim rozen said:
He, $44B here, $44B there, pretty soon yer talkin some *real* money.

Maybe these anti-woke morons could bail him out:

Anti-Woke Banking Startup Cancels Itself

The company, which missed multiple launch deadlines and had its CEO step down due to misconduct, is citing “reputational attacks” and “the failing economy”

www.rollingstone.com

Wingnuts never learn, sometimes the man-bun folks have all the cash. We now return you to musk-adoration.

That Rolling Stoned article is a bit one-sided. According to this Wall Street Journal article the company still exists and is trying to secure additional financing.

archive.ph

"Earlier, in an August interview, Mr. Neugebauer said he remains convinced that GloriFi is the right idea for the right time.

He said he had put $10 million of his own private-equity fortune into the company to keep it afloat this spring. He is planning to take the company public through a merger with a special-purpose acquisition company, which requires him to raise at least $60 million in additional cash. The pending deal has several conditions GloriFi and the SPAC have yet to meet."

Even if THIS outfit doesn't make it there is still strong demand for a bank that doesn't impose ESG policies such as those that punish gun and "fossil fuel" companies.

PS: There is no such thing as a "man bun". The title is an oxymoron.

Scottl · Nov 26, 2022

With all this anti-Musk sentiment I expect there will soon be a glut of used Teslas for sale at bargain prices.

Comatose · Nov 26, 2022

Scottl said:
With all this anti-Musk sentiment I expect there will soon be a glut of used Teslas for sale at bargain prices.

Why? He doesn't get extra money from someone keeping a previous purchase.

Whether any libs are being owned or not, 2022 Elon Musk is acting like a clown and hurting his various businesses. The stock prices reflect that. Howard Hughes circa 1945 was doing good work. Howard Hughes circa 1970? Not so much.

john.k · Nov 26, 2022

Musk may well be hurting his image,...but if he can run Twitter with half the staff ,or even less .....,maybe none......then his take goes way up..........I see on telly that Bezos has replaced half of Amazon staff with robots of Amazons own manufacture ,and plans on replacing another 200,000 staff as quickly as the robot pick and pack warehousing systems can be installed.....a point he makes is a fully robot warehouse doesnt need heat or light* .........And in fact ,many automated grocery packing warehouses are refrigerated ........(.* or strike for higher wages !)

standardparts · Nov 26, 2022

john.k said:
Musk may well be hurting his image,...but if he can run Twitter with half the staff ,or even less .....,maybe none......then his take goes way up..........I see on telly that Bezos has replaced half of Amazon staff with robots of Amazons own manufacture ,and plans on replacing another 200,000 staff as quickly as the robot pick and pack warehousing systems can be installed.....a point he makes is a fully robot warehouse doesnt need heat or light* .........And in fact ,many automated grocery packing warehouses are refrigerated ........(.* or strike for higher wages !)

"Musk may well be hurting his image"....Interesting point. When a person is worth $100 Billion I would imagine "richest man on earth" creates it's own image.

Comatose · Nov 26, 2022

john.k said:
Musk may well be hurting his image,...but if he can run Twitter with half the staff ,or even less .....,maybe none......then his take goes way up..........

His take of what? The advertisers are bailing, and the users don't pay anything. Can you run a social media site without moderators? Sure, but it quickly becomes a spam filled cesspool with three guys screaming at each other, eight million bots selling [email protected]@ and nobody else. Nobody's gonna advertise there.

Half the expenses and a quarter the revenue hardly seems like a winning formula.

john.k · Nov 26, 2022

Im not a billionaire ,so I dont know ,but I would imagine that advertzers are on long term contracts ,so they cant just just bail.........and if Musk does quickly turn it around ,then he will be hailed as an evil genius ..............in the early days of Tesla ,the net was full of complaints of Musks slave driver working conditions and his unreasonable demands on staff ........that worked out OK for him,so maybe he will repeat the formula at Twitter ....................I dont know if what I see on the net is real or fake any more....but there is a whole lot of humour and comedy around based on Twitters playroom working spaces .....and staff turning up when it suits them.

Comatose · Nov 26, 2022

john.k said:
Im not a billionaire ,so I dont know ,but I would imagine that advertzers are on long term contracts ,so they cant just just bail.........

Twitter has lost 50 of its top 100 advertisers since Elon Musk took over, report says

Half of Twitter's top 100 advertisers appear to no longer be advertising on the website. A new report states that these 50 advertisers have spent almost $2 billion on Twitter ads since 2020.

www.npr.org

You can imagine whatever you like...

Big B · Nov 26, 2022

standardparts said:
Now, it seems, Mr. Musk has somehow done something to arouse the ire of liberals by laying off employees and allowing a somewhat unfettered use of free speech on his platform.

Is "unfettered use of free speech" another way of saying "alternative facts"?

john.k · Nov 26, 2022

In my non billionaire opinion,musk had no intention of actually paying for Twitter ...he was playing games with the stock price ,mainly IMHO to diss the SEC that had pinged him for doing the same at Tesla..........the lawsuit to force his hand came as somewhat of a nasty surprise for the self proclaimed "funnyman"

standardparts · Nov 27, 2022

Big B said:
Is "unfettered use of free speech" another way of saying "alternative facts"?

"alternative facts".... Yeah...I'd say that is still free speech.

standardparts · Nov 27, 2022

Comatose said:
His take of what? The advertisers are bailing, and the users don't pay anything. Can you run a social media site without moderators? Sure, but it quickly becomes a spam filled cesspool with three guys screaming at each other, eight million bots selling [email protected]@ and nobody else. Nobody's gonna advertise there.

Half the expenses and a quarter the revenue hardly seems like a winning formula.

According to Musk the plan was to switch from ad based revenue to subscriber fees.
No doubt it will take some time to see if that is successful and if not the results will likely be the same as at Lane Furniture...loss of jobs and money.

Scottl · Nov 27, 2022

standardparts said:
"Musk may well be hurting his image"....Interesting point. When a person is worth $100 Billion I would imagine "richest man on earth" creates it's own image.

Also, while he may be "hurting his image" among one faction his popularity is rising among another faction.

What I notice constantly among one crowd is the belief that they and their friendly media and institutions are all-powerful and can crush any opposition or demoralize them until they quit. As we've seen with the gloating over "failed anti-woke bankers" that is often far from the case as their opponents re-group and re-tool for another try.

They tend to characterize opponents as stupid and weak and that is THEIR major weakness.

I was originally a harsh critic of Mr. Musk but with the Model 3 Tesla has scored a big hit, Spacex has had successful unmanned missions, and his other enterprises seem to be doing well.

DDoug · Nov 27, 2022

Scottl said:
Also, while he may be "hurting his image" among one faction his popularity is rising among another faction.

What I notice constantly among one crowd is the belief that they and their friendly media and institutions are all-powerful and can crush any opposition or demoralize them until they quit. As we've seen with the gloating over "failed anti-woke bankers" that is often far from the case as their opponents re-group and re-tool for another try.

They tend to characterize opponents as stupid and weak and that is THEIR major weakness.

I was originally a harsh critic of Mr. Musk but with the Model 3 Tesla has scored a big hit, Spacex has had successful unmanned missions, and his other enterprises seem to be doing well.

Hey Now !
Your losing PM E.S.G. points and will be voted off the island with postings like this.....

Milland · Nov 27, 2022

Can you guys take a second to bring this back to, uhh, Lane Furniture? Think of the children (of the laid-off workers).

Scottl · Nov 27, 2022

Milland said:
Can you guys take a second to bring this back to, uhh, Lane Furniture? Think of the children (of the laid-off workers).

We do, just as we think of the children of ALL the laid-off workers caused by corporate raiders, outsourcing and general greed over the past several decades.

Hey, at least maybe they can get a job flipping burgers. Oh wait, I forgot that those jobs have already been taken by insourced foreign labor.

standardparts · Nov 27, 2022

Milland said:
Can you guys take a second to bring this back to, uhh, Lane Furniture? Think of the children (of the laid-off workers).

Layoff of workers right before a holiday and families with kids facing big challenges been going on in America for decades...it was almost a holiday tradition in the 'Rust Belt' in the 1980's and 90's.
----Imagine how they will feel when they see Lane name on furniture with a tag that says "Hencho En Mexico".
For those seeking a happy ending I now return you to the movie classic "It's A Wonderful Life"----

Big B · Nov 27, 2022

standardparts said:
"alternative facts".... Yeah...I'd say that is still free speech.

Yes, lying is free speech but it seems like a bad idea to have politicians that are also pathological liars. Those are the ones that came up with the term "alternative facts". The rest of us just call them lies like we always have.

Big B · Nov 27, 2022

Scottl said:
Also, while he may be "hurting his image" among one faction his popularity is rising among another faction.

What I notice constantly among one crowd is the belief that they and their friendly media and institutions are all-powerful and can crush any opposition or demoralize them until they quit. As we've seen with the gloating over "failed anti-woke bankers" that is often far from the case as their opponents re-group and re-tool for another try.

They tend to characterize opponents as stupid and weak and that is THEIR major weakness.

I was originally a harsh critic of Mr. Musk but with the Model 3 Tesla has scored a big hit, Spacex has had successful unmanned missions, and his other enterprises seem to be doing well.

Could you please explain what a failed anti-woke banker" is? Extra credit if you can put it into words that an oldster can understand instead of teen speak.

Big B · Nov 27, 2022

standardparts said:
Layoff of workers right before a holiday and families with kids facing big challenges been going on in America for decades...it was almost holiday tradition in the 'Rust Belt' in the 1980's and 90's.
----Imagine how they will feel when they see Lane name on furniture with a tag that says "Hencho En Mexico".
I now return you to the movie classic "It's A Wonderful Life"----

( Survived the Big One---over 6,000 out the door 12/28/1988)

I got laid off from GM in the mid 70's right before Christmas. It saves corporations a lot in holiday pay if they shut down over the holidays and pay holiday pay for it.

Lane Furniture terminates 2,500 employees via Email.

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