The WeWork CEO’s outsize power is one reason the company is imploding

WeWork is drowning in the near-unfettered power it gave its CEO and founder Adam Neumann. The coworking startup, which now calls itself The We Company, recently postponed its IPO amid declining valuation — it’s now worth just a third of the $47 billion valuation it achieved earlier this year — and is facing impending layoffs as public investors question its poor corporate governance, unproven business model, and a slew of bad decisions. Now, in an extraordinary move, Neumann is stepping down.

Part of WeWork’s problem is something it has in common with a number of other highly valued …

1.3 million winners and 2.8 million losers from Trump’s new overtime rule

The five-year fight to expand overtime pay to millions of workers is over.

The Department of Labor just released the final rule that will require businesses to pay overtime wages to a much larger group of employees if they work more than 40 hours a week. It’s a win for the estimated 1.3 million workers who will now be compensated for putting in long hours — but it’s a bitter defeat for the 2.8 million others who would’ve also gotten overtime under the original rule proposed by the Obama administration.

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Trump admits to talking to Ukraine about the dealings of Joe Biden’s son; the world’s oldest travel company leaves thousands stranded.

Whistles from the Oval Office

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  • President Trump admitted to discussing the family of former Vice President Joe Biden during a July phone call with Ukraine’s president, an incident believed to be at the center of a whistleblower’s complaint about