Realogy CEO Ryan Schneider Sacked by market headwinds and competition from rivals “who seem fine with losing money,” Realogy lost $99 million during 2019’s first quarter — nearly 48 percent more than last year’s loss of $67 million. On Thursday, the New Jersey-based conglomerate reported overall revenue of $1.1 billion for the quarter, a 9 […]
Comerica Bank turned “blind eye” to Woodbridge’s $1B Ponzi scheme: lawsuit
Comerica CEO Curtis Farmer, Robert Shapiro, and a spec home Woodbridge supposedly planned at an investment property in LA The $1.2 billion Ponzi scheme that federal authorities charged luxury developer Woodbridge Group of Companies with running has spawned numerous lawsuits. In the latest, lawyers tasked with recovering funds for defrauded investors are going after Comerica […]
Top Keller Williams agents want to stop sharing profit with defectors
Keller Williams CEO Gary Keller (Credit: Wikipedia and Ken Teegardin via Flickr) Keller Williams’ lifetime profit sharing program, which has distributed more than $1 billion in revenue since 1997, is under fire. A “small group” of the firm’s “top profit share earners, market center owners and regions” proposed major changes to the program at a […]
The We Company files initial paperwork for an IPO
The We Company CEO Adam Neumann (Credit: Getty Images and iStock) The We Company, formerly known as WeWork, submitted a filing with the U.S. Securities and Exchange Commission that would allow it to go public, the company announced in a press release. Adam Neumann, the company’s CEO, said he had been celebrating his birthday when […]
The downturn is coming. Can the We Company survive the storm?
WeWork co-founder Miguel McKelvey, Adam Neumann, CFO Artie Minson, and Vice Chairman Michael Gross in a bunker made out of money (Credit: Getty Images and iStock) In January, Adam Neumann went on CNBC to quiet concerns that his company, WeWork, was in trouble. News had just broken that SoftBank Group, WeWork’s primary investor, had walked […]
CoStar reports 20% revenue jump in Q1
CoStar CEO Andy Florance (Credit: Getty Images and iStock) CoStar Group’s revenue jumped 20 percent year over year during the first quarter, reaching $328 million — due in part to strong results from its residential listings platform. The company reported a 63 percent year-over-year jump in net income to $85 million, and a 61 percent […]