Hedge fund manager Bill Ackman accused a $100 billion public company of stealing tips from workers without proper due diligence, sparking skepticism. Ackman's claim against the company led to criticism for lack of research and evidence. The company, Medical Properties Trust (MPW), faced scrutiny over its financial dealings and potential fraud allegations. Despite Ackman's accusations, Uber clarified that they share 100% of tips with drivers, undermining Ackman's initial claim. MPW finalized an $800 million loan backed by a UK hospital portfolio, amidst concerns about its financial stability and bondholders potentially facing losses.
“Non-recourse,” after $MPW setup new UK entities lol https://t.co/dL23pVdHXw
Here we have @Steward attempting to prevent Brighton Marine ("BMI") from terminating its MSA, after @Steward finances deteriorated and @Steward did not provide financial info/Steward employees leaving. Sound familiar? Brighton contracted with U.S. DoD to provide servicemembers,… https://t.co/QT8RGueska
Only thing to save $MPW for bondholders is the management get sacked. Dont worry GoldenTree, the @TheJusticeDept will do it for you. At this stage in the fraud process bondholders will be treated exactly as intended, false promises, assurances of jam & silence.🖕 https://t.co/SXtVTXIR53
Good story; good lessons. Still see so many instances of credulous shareholders & sell-side analysts when provided with significant evidence of wrongdoing simply ask management if it’s true or not and move on. “Mike, is there any fraud going on?” What’s your favorite example? https://t.co/mnIAndjHoS
$MPW - This is what frauds do! Lie, misrepresent to stakeholders with fraudulent validation. You would have to be blind to not realise Aldag et al are fantasists. The victims were shareholders, that time has passed. If you believe, pass up your place, you are on the titanic! https://t.co/s1ox7x994b https://t.co/FXCjc2kesB
$MPW - Logic out the window. Circle executed at a conservative LTV low-40%, implying an approx 20% value increase. Loan carries a fixed cash pay rate of 6.9% 10yr term "excluding debt issuance costs". 6.9% secured🤦 for 40% LTV. The state MPW are in they should have sold.. https://t.co/R0dA2aPIvb
Medical Properties Trust finalizes $800 million, 10-year loan backed by U.K. hospital portfolio, led by Song Capital. $MPW
$MPW (+2.0% pre) Medical Properties Trust (MPW) Closes $800M 10-Year Loan Secured by U.K. Hospital Portfolio - SI https://t.co/4tVM5y5Vip
$UBER my opinion doesn’t matter much but it’s my X 🤣 Bill Ackman could have handled this better. If even 20% of it were true he probably has a unlimited phone plan and could call Dara no? Or Email is free I hear.
Just noticed this, but pretty ominous that $MPW's adjusted lease base excludes "... amounts due related to unreimbursed capital expenditures." So was the "capex" just forgiven? Were they really just working capital loans all along? We think so. We have been saying that for ~2… https://t.co/bKpkfB4m7j https://t.co/8G6n0KYOPY
🚨 Steward Health Care *finally* filed for Chapter 11 after driving their hospitals into the ground. Now, they're aiming to sell off their assets by end of July. Regulators have been waiting for this since April 30th, when the for-profit chain missed its deadline to pay back… https://t.co/e5Z0XeGOij
🚨 Steward Health Care *finally* filed for Chapter 11 after driving their hospitals into the ground. Now, they're aiming to sell off their assets by end of July. Regulators have been waiting for this since April 30th, when the for-profit chain missed its deadline to pay back at…
you just know ackman wants to double down on uber tweet with some 200 slide expose
Just look at the operating cash flow line. $MPW has ~$90mm of common dividends at the current rate. How much of that OCF is supported by working capital loans/"capex," and would literally disappear without $MPW's support? How can $MPW continue to fund its tenants given these… https://t.co/6cOsbQsIMM
$MPW - If you are an unsecured bondholder you are about to get hosed. This is way less than @viceroyresearch had pencilled in. It's highly likely the details get leaked, but the beauty of the UK is the details are easy to find. Aldag, yet again, this is really bad. https://t.co/G73yIoSqLq
Just a few thoughts: - no official announcement yet, - proceeds ~$150mm less than we had for Circle transaction in 2Q24, - $MPW has "sold" its highest quality/credit cash flow, - Circle/CommonSpirit would be sold or spoken for, - adverse selection, bad tenant exposure UP, - Banks… https://t.co/6cOsbQsIMM
Beacon Hill at odds over how to handle Steward bankruptcy proceedings | Click on the image to read the full story https://t.co/CCiDklvMWN
Something to consider... If you have a GBP700mm TL due Jan 2025 guaranteed by Circle and you do a GBP650mm TL to extend maturity – it’s NOT liquidity enhancing. $MPW pulled trigger on two easiest/largest transactions (CommonSpirit & Circle) yet no closer to a solution for the… https://t.co/6cOsbQsIMM
Now things getting interesting. The unsecured bonds are smoked. $MPW https://t.co/cVIpQnzCku https://t.co/fLhmIds47j
MEDICAL PROPERTIES TRUST NEARS $800M REFINANCING AGREEMENT: SKY $MPW
This is less proceeds than we had them getting out of circle in our liquidity forecasts btw, by about ~$150mm… unsecured bonds are completely hosed. $MPW https://t.co/vXsqybXLBN
I love that Bill Ackman, despite being a self made hedge fund billionaire, has this very naive view of the world. https://t.co/14aHW0WtE4
How Lies spread... Crying @BillAckman as usual and of course @elonmusk and people wonder why the first thing I tell investors that ask me how I invest and I tell them 'assume the market is rigged' https://t.co/9Gs3qrzdlA ht @michaelbatnick
$MPW - Let me pay you in crypto said no legit company...Aldag? What are your views?? Not suggesting you've paid anyone in crypto! Just curious what your views are??? #GoldenTree, you know you are screwed, cut your losses...you are going to blow up. https://t.co/iXt9HI3dLf
Bill Ackman hastily accusing a Fortune 500 company of systematic fraud based on one anecdotal experience with almost no due diligence is not something I expected to see. https://t.co/NCMs23DJ1Q
I don't know why everyone is surprised about the Ackman/Uber thing. Not like we all don't know tons of investors who have knee jerk reactions to every bit of info & overweight their own experience/pay no attention to the details.
Ackman right before tweeting an unverified and obviously untrue claim that a $150B public company is stealing from workers https://t.co/4m1becHbro
Solid recap on $MPW Now everyone is going to realize the hospitals can’t be sold/re-tenant in the time frame the court laid out… $MPW may be on the hook for hundreds of $mm’s in DIP https://t.co/e4DXCx051f
this is so fucking funny, billionaire Bill Ackman got hustled by an Uber driver for $5. someone get that Uber driver a private equity analyst job he could roll up more midwestern HVAC sole proprietorships than any spoiled rich kid with a business degree from Duke University https://t.co/WXu0UUuFnN
Hey, let's recap $MPW's 2024 YTD! Go team! Look at the "empire" Aldag has built! - @Steward failed on 1.4.24, - MPW said would work towards reducing Steward exposure, but exposure only gone up since. MPW funded Steward more money at least three times, including as sole DIP… https://t.co/vwDnJ120fq
Will be interesting to see how @BillAckman responds after @Uber said they share 100% of the tips with drivers. Bill - might be worth 10 minutes of actual research before trying to use your social media following to negatively impact companies. https://t.co/gyyyj3bdvi
$MPW - Doing business with Aldag, means RDLT is in great company. Two crooks! KYC & AML Golden Tree??? Apart from Aldag being a fraudster, it's unlikely if RDLT & Aldag will share a cell. Ballsag's demise isn't that far behind either. #POS. https://t.co/UJQkVNMjSn
The Ackman Uber story (he thought Uber was stealing tips) and Trump "Reich" story (people thought he posted pro-Nazi stuff) are depressing examples of people's gullibility, especially if it feeds their biases. Does a story make sense? How much evidence do we have? Be skeptical! https://t.co/Ix0hmZxt3d
Hedge fund mgr concludes 100bl public company stealing 50ml a day in tips and texts ceo asking to give it back and apologize? You’d think w an army of investment analysts you’d have them look into this for 5mn first.