With private equity, they leverage debt then leave the company to bleed to death.
> In July 2005, after struggling for years to compete with big-box retailers like Kmart, Walmart, and Target, Toys ‘R’ Us agreed to a $6.6 billion private equity buyout deal with KKR, Bain Capital, and Vornado Realty Trust in the hopes it would help turn the company around.
> The fund spent $1.3 billion of its own money and saddled the company with $5 billion more in debt to buy out the ailing retailer.
> In July 2005, after struggling for years to compete with big-box retailers like Kmart, Walmart, and Target, Toys ‘R’ Us agreed to a $6.6 billion private equity buyout deal with KKR, Bain Capital, and Vornado Realty Trust in the hopes it would help turn the company around.
> The fund spent $1.3 billion of its own money and saddled the company with $5 billion more in debt to buy out the ailing retailer.
Most interesting part of the article is the first comment:
> It still surprises me when I see mentions of Angi, because I'm old enough to remember when it was Angie's List. Angie's List had a stellar reputation of being 1000% the best place to turn to if you needed to hire someone to do something to your home or your car. What happened to it?
> The same thing that seems to be happening to every formerly decent product, service or business:
venture capital and private equity firms that pushed the company into an IPO.
> It still surprises me when I see mentions of Angi, because I'm old enough to remember when it was Angie's List. Angie's List had a stellar reputation of being 1000% the best place to turn to if you needed to hire someone to do something to your home or your car. What happened to it?
> The same thing that seems to be happening to every formerly decent product, service or business:
venture capital and private equity firms that pushed the company into an IPO.
I don't accept the premise that "public spirit" is a negative or somehow communist.
Did the Greeks have "public spirit?" The Romans?
Seems like most places I wouldn't want to live in have a significant "dirth of public spirit."
Did the Greeks have "public spirit?" The Romans?
Seems like most places I wouldn't want to live in have a significant "dirth of public spirit."
Tfw your crew is a bunch of woke soyjacks..
"Washington was a man of exceptional, almost excessive self command, rarely permitting himself any show of discouragement or despair, but in the privacy of his correspondence with Joseph Reed [in 1776], he began...to reveal how very low and bitter he felt, if the truth were known.
Never had he seen 'such a dearth of public spirit and want of virtue' as among the Yankee soldiers, he confided in a letter to Reed of November 28."
- Historian David McCullough
"Washington was a man of exceptional, almost excessive self command, rarely permitting himself any show of discouragement or despair, but in the privacy of his correspondence with Joseph Reed [in 1776], he began...to reveal how very low and bitter he felt, if the truth were known.
Never had he seen 'such a dearth of public spirit and want of virtue' as among the Yankee soldiers, he confided in a letter to Reed of November 28."
- Historian David McCullough
"In every disaster throughout American history, there always seems to be a man from Harvard in the middle of it."
- Thomas Sowell
- Thomas Sowell
What would you do about countries that have massive tarrifs to boost their industry and prevent American goods from being sold there, but dump cheap goods in America which kills American industry?
Ignoring the problem gave us the Rust Belt.
Ignoring the problem gave us the Rust Belt.
Reminds me of Brad Pitt being sued by the people he was trying to help because basically the architecture was not designed for the climate:
https://www.architecturaldigest.com/story/brad-pitt-make-it-right-foundation-new-orleans-katrina-lawsuit
https://www.architecturaldigest.com/story/brad-pitt-make-it-right-foundation-new-orleans-katrina-lawsuit
The Minecraft guy said the same.
Basically infinite money is boring and meaningless.
https://en.m.wikipedia.org/wiki/Behavioral_sink
Basically infinite money is boring and meaningless.
https://en.m.wikipedia.org/wiki/Behavioral_sink
The implication here is that this is somehow a unique scenario and totally doesn't happen with most of Congress..
