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Elon Musk's Twitter takeover has ended up as the worst buyout deal for banks since the financial crisis (www.businessinsider.com)

submitted 4 months ago by MicroWave to c/economics

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Elon Musk's Twitter acquisition ended up being the worst financing deal for banks since 2008, the WSJ said.
The $13 billion in loans Musk took out have been stuck on banks' balance sheets.
The loans have cut into pay for bankers and lenders' ability to finance other deals, the Journal reported.

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[–] trolololol 6 points 4 months ago (1 children)

Makes me wonder how good he is at rocket business. And makes me wonder how good Boeing aerospace is if they make Elon look like a genius.

[–] AA5B 1 points 3 months ago* (last edited 3 months ago) (1 children)

He ‘s sufficiently geeky to speak the language, to invest in things beyond the next quarter and be willing to take a risk in things not yet proven to be profitable. Those are good things for a ceo.

Maybe I give him too much credit (like I used to with Trump), but in the beginnings I assumed he was forced into twitter after running his mouth off into what could be securities fraud if he didn’t follow through. . And he’s so lost. So badly lost

Meanwhile Tesla needs attention and direction but losing its focus on cars is not the way. He really should have spawned off another company so the robotics stuff could sink or swim without impacting his successes

[–] trolololol 2 points 3 months ago

"CEO is smart because he tried to look for profit in multiple quarters at the same time" would make a great headline at Forbes