Feb 14, 2020 - Economy & Business

SoftBank executive muddles details of ousted WeWork CEO's exit package

Dan Primack, author of Pro Rata

Former WeWork CEO Adam Neumann. Photo: Michael Kovac/Getty Images for WeWork

Marcelo Claure, a SoftBank executive who's currently doubling as WeWork's executive chairman, told CNBC on Tuesday that people misunderstand ousted CEO Adam Neumann's exit package: "To say that he has walked away with over a billion dollars is totally false."

Why it matters: Claure intentionally muddled the present and past tense. Neumann indeed will walk away with over $1 billion, he just hasn't done so yet because SoftBank's tender offer for WeWork shares hasn't closed. Neumann, currently living in Israel, is able to tender up to $970 million worth of shares. That's on top of the nearly $200 million he already received to give up his voting rights, and a $500 million credit line to repay existing loans.

Go deeper: WeWork's Adam Neumann to step down as CEO

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Caitlin Owens, author of Vitals
28 mins ago - Health

Reopening the ACA debate is politically risky for GOP

Data: Kaiser Family Foundation, The Cook Political Report; Notes: Those losing insurance includes 2020 ACA marketplace enrollment and 2019 Medicaid expansion enrollment among newly-eligible enrollees. Close races are those defined as "Toss up" or "Lean R/D"; Table: Andrew Witherspoon/Axios

The sudden uncertainty surrounding the future of the Affordable Care Act could be an enormous political liability for Republicans in key states come November.

Between the lines: Millions of people in crucial presidential and Senate battlegrounds would lose their health care coverage if the Supreme Court strikes down the law, as the Trump administration is urging it to.

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Sam Baker, Andrew Witherspoon
28 mins ago - Health

Coronavirus cases rise in 22 states

Expand chart
Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon, Sara Wise/Axios

The coronavirus is surging once again across the U.S., with cases rising in 22 states over the past week.

The big picture: There isn't one big event or sudden occurrence that explains this increase. We simply have never done a very good job containing the virus, despite losing 200,000 lives in just the past six months, and this is what that persistent failure looks like.

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Axios
Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3:30 a.m. ET: 31,870,904 — Total deaths: 976,311 — Total recoveries: 21,979,888 — Map.
  2. U.S.: Total confirmed cases as of 3:30 a.m ET: 6,934,205 — Total deaths: 201,909 — Total recoveries: 2,670,256 — Total tests: 97,459,742 — Map.
  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing.
  4. Politics: Missouri Gov. Mike Parson tests positive for coronavirus — Poll says 51% of Republicans trust Trump on coronavirus more than the CDC.
  5. Technology: The tech solutions of 2020 may be sapping our resolve to beat the coronavirus
  6. Vaccines: Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  7. World: Justin Trudeau says Canada's second wave has begun
  8. Future: America's halfway coronavirus response
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