Thread on The Congregation in the a Secular Age:
More from Business
How Volkswagen went from being on the brink of bankruptcy to the most valuable company in the world in two days
/THREAD/
1/ At the peak of the 2008 financial crisis, Volkswagen was considered a very likely candidate for bankruptcy.
Heavily indebted and already financially struggling before 2008, with car sales expected to plummet due to the ongoing global crisis.
2/ With GM and Chrysler filing for bankruptcy in 2009, shorting the VW stock would seem a safe bet.
If you are not familiar with stock shorts and short squeezes check my thread
Shorts, Squeezes, and Betting Against Stocks
— Kostas on FIRE \U0001f525 (@itsKostasOnFIRE) January 27, 2021
What is short selling, how is it used and why is it risky?
/THREAD/ pic.twitter.com/PyDd208hFe
3/ On October 26, 2008, Porsche announced it had increased its stake at VW from 30% to 74%.
This was a surprise to many who were led to believe that Porsche wasn't planning a takeover of VW, based on the company's announcements.
4/ Before the announcement, the short interest was approximately 13% of the outstanding shares, a number considered relatively low.
Porsche had a 30% stake, the Lower Saxony government fund held 20% of the shares, and another 5% was held by index funds.
A thread 👇
https://t.co/xj4js6shhy
Entrepreneur\u2019s mind.
— James Clear (@JamesClear) August 22, 2020
Athlete\u2019s body.
Artist\u2019s soul.
https://t.co/b81zoW6u1d
When you choose who to follow on Twitter, you are choosing your future thoughts.
— James Clear (@JamesClear) October 3, 2020
https://t.co/1147it02zs
Working on a problem reduces the fear of it.
— James Clear (@JamesClear) August 30, 2020
It\u2019s hard to fear a problem when you are making progress on it\u2014even if progress is imperfect and slow.
Action relieves anxiety.
https://t.co/A7XCU5fC2m
We often avoid taking action because we think "I need to learn more," but the best way to learn is often by taking action.
— James Clear (@JamesClear) September 23, 2020
I'm glad to see @jbenton's excellent analysis shows what a good job McClatchy CEO @cforman has actually been doing. The fault for bankruptcy goes *way* back to prior regimes piling up unmanageable debt. He rescued the company. 1/https://t.co/EEbxWXBNvW
— Jeff Jarvis (@jeffjarvis) July 16, 2020
As @jbenton said in @NiemanReports : @mcclatchy transformation shows it STILL is possible NOW 'to be operationally profitable while still doing good journalism.' Not easy; Covid made it harder. But POSSIBLE and DONE by the great team in 2020 @mcclatchy. 2/
As @jbenton wrote: the #DIGITALTRANSFORMATION @mcclatchy 'shows a company that has managed the digital transition better than most; at last public count, it was making nearly half its ad revenue in digital and digital subscriptions were up 45% year-over-year.' Such focus 3/
On the future is digital is the SOLE way the still-powerful brands of local news and information will be able to have a business in the inevitable 'printless' future (Not today, not tomorrow, but printless someday) 4/
And the crisis in local news is relentless, unabating and by most measures WORSENING. More titles going dark; huge losses to our communities, because solely a blend of new digital startups AND existing footprint offer the scale 5/