Vulture capitalism. These VCs come in and take out a huge loan to buy these established companies, then the company becomes responsible for paying the loan, and the company also pays the VC “management fees” then when the company is a hollow husk of what it used to be they start selling off assets and closing stores. Kmart, Sears, Toys R’ Us, Circuit City, Party City, Payless, etc etc etc. This is how Thiel made his Billions and what Vance did before pretending to be a politician. Lately they’ve been going after the funeral home industry and veterinary clinics.
Damn employees expecting to be fairly compensated for their labor. Don’t they know they’re literally stealing from the executive’s bonuses?
that’s why i asked; working in retail myself taught me that upper management was detached from reality and i suspect that was the case here was well.
Vulture capitalism. These VCs come in and take out a huge loan to buy these established companies, then the company becomes responsible for paying the loan, and the company also pays the VC “management fees” then when the company is a hollow husk of what it used to be they start selling off assets and closing stores. Kmart, Sears, Toys R’ Us, Circuit City, Party City, Payless, etc etc etc. This is how Thiel made his Billions and what Vance did before pretending to be a politician. Lately they’ve been going after the funeral home industry and veterinary clinics.