the cusp of bankruptcy, i think there's no questions and then questions of conflict of interests adam newman had bought buildings that were leased back to wework and the like it's a dramatic story and hopefully we get more of the story throughout the morning. >> andrew, how does newman still -- newman -- how does newman still own that big of a chunk in the company if you listen to the excellent podcast wecrash you know the story in and out how did it shake out from an equity perspective that he still owns that size of a chunk of the company? >> it's interesting because we all reported about all the problems of the company and clearly there were issues of governance and so many different things that people were raising about the prospects of the company. it's worth pointing out, though, that there have not been allegations or at least not been cases brought about fraud with the numbers or there wasn't a real business underneath there so when softbank came and said they wanted to buy the company, to some degree he had clearly some leverage, enough leverage to keep a major stake in the company.

trading around $11.15 despite the tumultuous road, the usual fanfare and the meat packing industry adam newmanhosting a party this morning newman still owns 11% stake and will be a board observer starting next year and addressed reporters just moments ago at that party >> miguel and i couldn't be happier than to celebrate this with our original team this is always been about the team and about what we did together and we're just so proud today and for this day and we just want to congratulate the current wework team and we're congratulate marcelo for executing on this team's vision. >> you know, gracious congratulating the new leadership team, guys, this sort of reminds me of the uber ipo. i was on the floor of the new york stock exchange, i saw the founder sort of roaming around, trying to put on a good face he was good at putting on a good face, but someone who created the company standing back, watching someone else bring it to market in this case, of course, with such a turbulent road i think that we're all going to be watching what adam neumann does with that 11% stake. does he sell out o

founder adam newman was holding his own party of sorts with dozens of former employees and cofounderterday morning at the bell making a couple of statements i don't know if we have sound of those statements, but it's sort of -- we were talking about during the commercial break it's an interesting dynamic because here's a guy who did create something, $10 billion of value, not $47 billion of value clearly made a lot of mistakes along the way. the company could have imploded. and so how much credit do you give him or don't give him for what happened. he caught the right trend -- >> does he recognize -- his public persona has never been one that seems to take on any sort of remorse for what -- the implosion that took place. granted, this did wonderfully yesterday, the i.p.o. came out well but because when you're looking at 10 billion -- >> a different valuation there were conflicts of interest which we talked about before, at one point he was buying buildings and renting them to wework there were the issues of governance and how the company was used, selling the trademarks back and fort

adam newman was kicked off the company, but he was still celebrating the listing this new york's west and it was just really founder-led, wasn't it, ashley? it was kind of like -- ashley: it was. yeah. just a bit too much personality in the enthough, but a remarkable story, nevertheless. and finally, susan, it's going public after all this time. >> and less than a quarter of its peak valuation. going public at $9 billion, so what a difference a few years makes. ashley: indeed, it does. susan, thank you very much. how about this headline? some people may be cheering, buffets are bouncing back. coming up, the ceo of golden corral on the changes he made during the pandemic and why he is so optimistic. we'll be right back. ♪ ♪ you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones ♪ ♪ there are beau

even a little bit more, when all is said and done so a lot of folks have written the story about adam newman, but i don't think it's over yet. >> see you in the morning on "squawk," andrew, thank you. >>> manynew records for crypto set today and that's what is stopping cnbc's "on the money. bitcoin hit an all-time high the world's largest cryptocurrency climbed to $66,000 a coin that breaks the previous record by about $2,000. crypto got a big boost yesterday with the launch of bitcoin futures in etf >>> covid comebacks, 85% of the businesses temporarily closed during the pandemic are now back open that's according to a new report from yelp. another sign of recovery, nearly 440,000 new businesses opened in the first nine months of this year that's about 6,000 more than the same period in 2019 before the pandemic. >>> and tesla's in tunnels elon musk's boring company, a step closer to building a network of 29 miles of tunnels in las vegas, where people can catch a ride on tesla's underground. local lawmakers approved plans for the loop system. the boring company would design and build and pay

meanwhile ousted ceo and founder adam newman with a 11% stake celebrated uptown with what he called thebout the team and what we did together and we're just so proud today and for this day we just want to congratulate the current wework team and congratulate marcelo and sanddeep to execute on this team's vision. >> but sara and wilf, there's more executing to do the management team said that it will reach 70% occupancy rate by the end of the year but at q2 they were far from the goal and losing billions in terms of net income and so some things don't change. >> d, thank you so much. what a story that was. it feels like a big result for them but far below the valuations of a few years ago. >>> lithium motors with strong results. we'll dive io e arwintthquter th the ceo next with powerful, easy-to-use tools, and interactive charts to give you an edge, 24/7 support when you need it the most. plus, zero-dollar commissions for online u.s. listed stocks. [ding] get e*trade and start trading today. never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportuniti

on the new york stock exchange yesterday marked the return of the controversial founder and ceo, adam newman of interest and perception offer rad dick leadership -- offer t erratic leadership. it is slightly lower today, this will be the second day trading, down almost 1%. finally, there is this. a u.s. marine corps veteran shutting down a would-be robber in yuma, arizona. the gunman is seen on surveillance video, entering the chevron gas station. that's when quick-thinking marine jason killser jumps into action, disarms the guy. he helped the suspect -- held the suspect until police arrived. you don't want to mess with a marine. maria: no, you don't. i love this guy. this is great video. i saw it and just loved it. and we've been talking about yuma and how the illegal migrants, the got-aways are finding a home in yuma so good for him, once a marine, always a marine an thank you so much, sir. thank you for that. thank you, cheryl. the 10 year treasury yield continues to climb, questions continue to rise on the pace of inflation, the 1 # of year 10 yy is down 1.6 basis points. want to talk ab