What we’re reading (3/25)
“Boeing’s Next CEO Will Have ‘Massive Job’ At Company In Crisis” (Wall Street Journal). “Federal probes, sloppy factories, angry airlines, tense union negotiations and supply-chain snarls. Boeing’s crisis won’t end when David Calhoun exits as chief executive. The next leader of the American manufacturing icon will have to address some of the same issues that Calhoun, a longtime Boeing director, was brought on to clean up four years ago when the board he led ousted his predecessor.”
“Adam Neumann Makes A $500 Million Bid For WeWork That Could Hit $900 Million If Financing And Diligence Firm Up” (CNBC). “Neumann’s financing was not immediately clear, although people familiar with the matter told CNBC that Dan Loeb’s Third Point was not involved in the offer. Neumann’s counsel had previously said that Loeb’s investment firm was backing the WeWork founder’s offer, but Third Point disputed that assertion in a prior statement.”
“Meta Pursues AI Talent With Quick Offers, Emails From Mark Zuckerberg” (The Information). “In a sign of how seriously the social media company is taking the competition for AI talent, CEO Mark Zuckerberg has personally written to researcher’s as Google’s DeepMind unit to recruit them, according to two people who viewed the emails.”
“Why Investors Think Reddit Is Worth $1 Billion More Than The New York Times” (Business Insider). “Reddit, which loses money, is currently worth about $8.15 billion. The New York Times, which makes money, is worth about $7.2 billion…if you're running a media business, you understand precisely why investors are more excited about Reddit than the Times: The Times spends lots of money to make the content that readers and advertisers pay for. Reddit gets all of it for free, from its users.”
“A Higher Bid, And National Security Concerns, For An Ammunition Maker” (DealBook). “A battle over Vista Outdoor, the company behind top ammunition brands like Remington and Camelbak water bottles, is escalating — and national security is becoming a bigger factor in the fight. The investment firm MNC Capital on Monday raised its bid for the company to $3 billion, DealBook is first to report, hoping that a more generous offer — and further uncertainty that a rival bidder, the Czechoslovak Group, can pass a U.S. national security review — will win over Vista’s shareholders.”
