Sternlicht: Lordstown Motors committed fraud and lied about vehicle orders
Barry Sternlicht · Barry Sternlicht – Masterclass in Real Estate in a Post-COVID World (Capital Allocators, EP.216) · Oct 4, 2021 · at 54:26
Barry Sternlicht criticizes electric vehicle SPAC transactions and accuses EV maker Lordstown Motors of fabricating orders and marketing an inactive vehicle.
0:00 / 0:08exact quote · 8.0s
720p mp4 · rendered on demand · StarZero watermark
“They front run the trade. They lied about their orders. They made up the car. It was a fraud. The model they showed the street was not active.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Barry Sternlicht
Sternlicht: Marriott lobbied Washington to outlaw Starwood's paired-share REIT structure
“Bill Marriott had been at this for
40 years, and I've been at it for three.
He decided that this enough is enough, and they're gonna get rid of our paired share structure.
So he went to Washington, and in the budget reconciliation bill of that year, they threw…”
Sternlicht: Amazon subsidizes $4B-$5B retail losses with AWS to destroy small retailers
“It's fundamentally destroying mom and dad retail across the country, and it's one of my pet peeves because they were allowed to sell product retail-wise for less than the cost of, they're losing four or five billion a year in retail, which they subsidize with …”
Sternlicht: Amazon Prime will hit $500 once competing retail is gone
“They charge us 75 dollars, and now I think it's a hundred. They'll go to 500 when there's nothing left but Amazon in this country.”
Sternlicht: Modern REIT industry was born to let owners escape recourse debt
“The reed industry was born not because people wanted to the good graces of these very rich real estate guys, it's because they were all on recourse debt, and interest rates plummeted, And all of a sudden the dividend yield of an unleveraged real estate portfol…”
Sternlicht: Investors Underprice Political and Legal Risk in Emerging Markets
“One of the lessons I've learned over the last couple of years, 30 years, is we don't put enough political risk into our Like a 20 in India is not the same thing as a 20 in the United States. There's so many things that can go wrong, and the rule of law is so l…”
Sternlicht: Starwood Brooklyn Hotel Faces Severe Staffing Deficit Despite $10 Wage Hike
“I was at the, our hotel in Brooklyn last night and we have 200 and 20 people on staff and we're missing 40 people. And we're running a full hotel and we can't run the hotel. We can't do room service. Some of our, we're having job fairs and we've raised rates 1…”