It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street.

Don't miss a minute of the action.

Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanillo with Jim Kramer and David Faber at the New York Stock Exchange. Future is modestly lower here on a morning with a lot of corporate news from WeWork to FedEx to AT&T. Fed begins a two-day meeting. This overnight repo squeeze

getting interesting. Oil coming off for yesterday's blistering rally and the Saudis make their first

official comments today. Robat begins with Just Call it We Wait. We Work delaying its IPO rollout plans after a frosty investor

response plus we're going to give a look at crap times around the bell why well it's second largest

shareholder the private equity giant 3g capital did sell more than 25 million shares but there is a

reason behind it and searching for rate tea leaves from the fed ahead of that two-day meeting, stocks are set to open slightly lower.

We're going to start off, though, with that WeWork news, of course, sort of trickling out yesterday after the close, a delay in the planned public offering that has been so, well, such a focus over these last few weeks.

As the price, at least that we were thought it would

actually get for its shares, has rapidly declined over concerns about its business model,

over concerns about governance, really ever since they actually issued the S-1, which Mr. Kramer

here didn't really take a real fancy too. But a lot of this also goes back to Mr. Adam Newman, of course, the man who founded the company and runs it.

And this has been a chaotic process. Having reported on it now for a couple of weeks, I can sort of tell you that I've never seen anything quite like this in terms of the disarray in preparing for a public offering.

And I guess what was clear and perhaps finally made clear to them was they weren't ready.

They just were not ready to actually face potential shareholders at this point.

One wonders why, for example, they didn't clear up all the governance issues a long time ago prior to filing

that S-1, but instead have dribbled them out as they did late last week with significant changes

that were designed, of course, to enhance the offering. They weren't able to get there, at least

not at a price that they were willing to accept. And let me tell you, I had thought perhaps

that some of this delay was due to increased tension between We York's largest shareholder. SoftBank, led by

Mesa and Mr. Newman. That, however, does not appear to really be the case, although we'll

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