Expedia, Seattle, Interbay Campus discussed on GeekWire - Geared Up
What are you save forty three percent todd? I'm like wow. That's not bad. I was thinking I was Gonna be like ninety percent. You're exactly right. They made the point. Things were actually going well at the beginning of the quarter. Second Quarter is going to be much much worse than that. Yes I mean that company is in. May can't think of a maybe a tougher situation because in addition to this reorganization that they were going through right before this many people in the Seattle area now they also just spent massive amounts of money to take over this beautiful waterfront campus on the western part of Seattle and that alone is just this massive expense that they do not need on their books at this time. So you combine the reorganization the massive office expansion. Which you know. They spent several hundreds of millions of dollars on and the just the overall travel industry and they are. I would not want to be in their shoes right now. It's certainly turnaround story I think Barry Diller and Peter Kern can turn this thing around. I think they'll have a hell of a story to tell to your point John. One of the footnotes in the financial filings that I was looking at said that expedia will temporarily halt construction on most real estate projects including the company's headquarters and will consider quote further opportunities to differ other capital expenditures. That are not critical to our operations. I know they had additional expansion plans at the interbay campus. But I mean it had largely been retrofitted and I mean they. They have moved in there. I mean it's not like you know in. This is the weird thing about this and I know we're going to get into this where we have my my Richter scale on company. This the timing of this can hit companies in very different ways like if you just raised a big round of capital in December of venture backed startup. Like you're probably in okay shape but if if you raise that capital eighteen months ago and then now you're you're just going into your next funding cycle and you just took on a giant lease at some new office space. You're kind of screwed. Well speaking of Expedia they fall in an interesting place on this Richter scale. The scale that we've been talking about we're GONNA get into that coming up after the.