We Company’s CEO Resigned 8 Days After Decision to Delay IPO
WeWork co-founder Adam Neumann stepped down on Tuesday, according to a company statement. He will be replaced by two executives: One was previously the chief financial officer of the company, and the other was previously vice chairman of the board.
The company said last week it would postpone its IPO, after investors and the press criticized its governance structure and valuation. Former CEO Neumann will remain on the company’s board as a non-executive chairman.
Stocks of Utilities Have Climbed 22% This Year
—and The S&P 500 utilities sector hit a record high on Tuesday. Utilities are normally seen as pretty boring companies—there isn’t a ton of excitement in providing water and electricity. And the industry is heavily regulated, which limits its potential profits and losses.
But utility stocks do offer yield. The sector was yielding 3% on Tuesday. With 10-year Treasury yields below 2%, boring doesn’t sound that bad.
Presidential Candidate Bernie Sanders Proposed a 8% Wealth Tax
—on Americans with wealth of more than $16 million—or $32 million for married couples. The tax would start at 1%, though it would be higher for wealthier people. Families with wealth over $10 billion would pay 8% tax.
A pair of Berkeley economists estimate that the tax would apply to 180,000 American households and collect more than $4 trillion over a decade.
翻译 | Anqi
《巴伦》(barronschina) 原创文章，未经许可，不得转载。英文版见2019年9月25日报道“Podcast: An 8% Wealth Tax and Two More Numbers to Know”。