{"id":36581,"date":"2025-10-26T06:12:56","date_gmt":"2025-10-26T06:12:56","guid":{"rendered":"https:\/\/www.duck9.com\/blog\/?p=36581"},"modified":"2025-10-26T02:13:18","modified_gmt":"2025-10-26T06:13:18","slug":"equipment-share","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/equipment-share\/","title":{"rendered":"Equipment Share"},"content":{"rendered":"
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– EquipmentShare, a construction equipment rental firm, faces fraud allegations from ousted board member Neil Chheda, who claims founders misused company funds for personal gain, triggering a 5-7% plunge in its $1 billion private bonds issued via banks like Goldman Sachs and JPMorgan.<\/div>\n
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– Bloomberg’s October 24, 2025, article verifies the bond crash but omits bank names, a point the post critiques; ongoing lawsuits, including Schlacks Family vs Neil Chheda filed in 2024, highlight disputes over share transfers and fiduciary breaches.<\/div>\n
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– The event signals broader private credit vulnerabilities, with $1.7 trillion in U.S. outstanding per Federal Reserve data, where non-public ownership obscures risks to institutional investors like pension funds. <\/div>\n

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$1 Billion In Bonds Crash as Company is Accused of Fraud, Sparking Same Private Debt Fear. <\/p>\n

EquipmentShare rents construction equipment with smart tracking tech<\/p>\n

Bloomberg reports that Romulus Capital co-founder Neil Chheda, an early investor with a 23% stake, was kicked off pic.x.com\/RgJTOF9Mxm<\/span><\/a><\/td>\n<\/tr>\n

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10\/25\/25, 6:54\u202fAM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n <\/td>\n<\/tr>\n
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$1 Billion In Bonds Crash as Company is Accused of Fraud, Sparking Same Private Debt Fear. <\/div>\n
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EquipmentShare rents construction equipment  with smart tracking tech<\/div>\n
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Bloomberg reports that Romulus Capital co-founder Neil Chheda, an early investor with a 23% stake, was kicked off EquipmentShare\u2019s board after accusing the Schlacks family of using company cash for personal perks and insider deals. The company denies the allegations. <\/div>\n
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EquipmentShare\u2019s $1B bonds crashed in value.<\/div>\n
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Filings show EquipmentShare borrowed $1B in bonds this year (May + Sep) through Goldman, Wells Fargo, Citi, JPM, Capital One to grow. <\/div>\n
A $3B loan from Capital One helps buy equipment.<\/div>\n
(Why Doesn\u2019t Bloomberg Name The Big Banks Involved?) <\/div>\n
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So this is how it worked<\/div>\n
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-EquipmentShare needed cash and borrowed $1B by selling private bonds that are due in 2028 <\/div>\n
-Big banks ran the sale (Goldman, Wells Fargo, Citi, JPM, Capital One) <\/div>\n
-Only big money players (like hedge funds, insurance companies, pension funds) were allowed to buy the bonds.  Not retail, directly. <\/div>\n
-So there is no public record of who owns the bonds. <\/div>\n
-Only the banks know who is impacted <\/div>\n
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So it\u2019s  another private credit red flag\/isolated event and another headline by Bloomberg that seems to downplay the escalating concerns about private credit.<\/div>\n<\/div>\n
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What A Super Model Can Teach a Harvard MBA About Credit <\/span><\/div>\n

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www.slideshare.net\/larrychiang\/what-a-super-model-can-teach-a-harvard-mba-about-credit<\/a><\/span><\/p>\n

<\/span>http:\/\/www.youtube.com\/watch?v=QXIaNZi3mHQ<\/div>\n


American Express hosts me mentoring you about FICO scores at New York Fashion Week
t.co\/inxTmZAj<\/a><\/span><\/p>\n

My video boils down 20,000 hours and moves you to the right on the entrepreneur bell curve 
http:\/\/www.youtube.com\/watch?v=eudADPfTWiE<\/span>
<\/span>***********<\/span><\/div>\n

Steve Jobs Texted me on 650-283-8008 in the same way that Mr Jobs called Bill Hewlett <\/span>https:\/\/x.com\/superSaiyanSkai\/status\/1941392367304761636\/video\/1<\/a><\/span><\/div>\n

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<\/span><\/div>\n
Larry Chiang<\/span><\/div>\n
Fund of Founders<\/div>\n
Founding Stanford EIR<\/div>\n
@duck9 alum, Deeply Understood Capital Credit Chinese Knowledge 9<\/div>\n
Solo Founder Uber API<\/div>\n
650-566-9600 Office<\/div>\n
650-566-9696 Direct<\/div>\n
Cell: 415-720-8500 <\/div>\n

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650-283-8008 (cell)<\/span><\/div>\n

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Editor of the widely syndicated “What They Don’t Teach at School”
whattheydontteachyouatstanfordbusinessschool.com\/blog<\/a><\/span><\/p>\n

CNN Video Channel: ireport.cnn.com\/people\/larrychiang<\/a><\/span><\/p>\n

Read my last 10 X posts at www.X.com\/LarryChiang<\/a><\/span><\/p>\n

Author of #WTDTYASBS a NY Times Bestseller released 09-09-09 at #NYFW on a runway under the tents
whattheydontteachyouatstanfordbusinessschool.com\/blog\/?s=Ny+times+bestseller<\/a><\/span><\/p>\n

www.fastcompany.com\/embed\/c0d4562ea2049<\/a><\/span><\/p>\n

52 Cards. Two Jokers. What They DO Teach You at Stanford Engineering
http:\/\/www.youtube.com\/watch?v=vDBY0GkI3-g<\/span><\/p>\n

Emergency swings and cutting deals as an 9 year old
http:\/\/www.youtube.com\/watch?v=OFGY7v9C4G0<\/span><\/p>\n

Hunter Pence shared thoughts before winning WORLD SERIES’ Game #7
http:\/\/www.youtube.com\/watch?v=usu0luYy9pw<\/span><\/span><\/p>\n


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– EquipmentShare, a construction equipment rental firm, faces fraud allegations from ousted board member Neil Chheda, who claims founders misused company funds for personal gain, triggering a 5-7% plunge in its $1 billion private bonds issued via banks like Goldman Sachs and JPMorgan. – Bloomberg’s October 24, 2025, article verifies the bond crash but omits […]<\/p>\n","protected":false},"author":1,"featured_media":36582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-36581","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/36581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=36581"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/36581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media\/36582"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=36581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=36581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=36581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}