Company before COVID: “We have 32 buildings across 5 campuses in 3 cities” After Covid: “We have 32 empty buildings no one will buy from us for enough to even break even. If we sell them no we lose millions, but they just sit empty”
Company probably doesn’t own the buildings. Company is leasing the office space from the building owner(s) … who are probably executives and/or board members.
The company doesn’t own the buildings, but the owners of the company, the ones that would see the bonus money for selling the buildings (company savings on rent and a terminated lease), own the buildings.
So there are a lot of mental gymnastics, but the punchline is that the company does own the buildings with a lot of rotten little pockets in the irs filings…
Your initial and final statement, while both true, do very much contradict eachother.
Company before COVID: “We have 32 buildings across 5 campuses in 3 cities” After Covid: “We have 32 empty buildings no one will buy from us for enough to even break even. If we sell them no we lose millions, but they just sit empty”
Company probably doesn’t own the buildings. Company is leasing the office space from the building owner(s) … who are probably executives and/or board members.
Your last sentence contradicts your first sentence.
No it doesn’t.
The company doesn’t own the buildings, but the owners of the company, the ones that would see the bonus money for selling the buildings (company savings on rent and a terminated lease), own the buildings.
So there are a lot of mental gymnastics, but the punchline is that the company does own the buildings with a lot of rotten little pockets in the irs filings…
Your initial and final statement, while both true, do very much contradict eachother.
I get what you’re saying - yes, the owners of the company also own the buildings - but that is different from the company owning the buildings.