@jaydingiesler5280
This is also what happened to JOANN FABRICS. Make it stop!!! These firms are destroying SUCCESSFUL businesses!! These are businesses that we the consumers were supporting not failing companies. We the consumers invested into them and then we were also gaslit about their closings being our fault. This practice must end NOW!!!
@highendtrends3508
Sad how this generation will never know what it is as a child to go into a Toys”R” Us.
@JTLaser1
I was a partner in a small Laser manufacturing company about 15 years ago. Fortunately we had some smart people advising us. One of our ideas was to approach a Venture Capitalist to expand. Of six advisors at the table, all successful entrepreneurs, every one had a visceral reaction to the suggestion and we never considered it again.
@WalterRoberts-z3w
I believe this used to be illegal until private equity firms lobbied congress to 'deregulate'.
@K6YIC
The most blatant abuse was Sears and K-Mart and the corporate killer that is ESL investments.
@rongeorge574
A guy did the same thing with Penn Central Railroad! Worlds biggest railroad and bankruptcy. He took the Pennsylvania railroad, and the New York Railroad, pretended to merge them, but in reality he put all the real estate worth billions into one company, then all the debt into the other, bankrupted the one and kept the billions in real estate for free. Even today Penn Central still owns billions in prime real estate they rent out. And nobody ever talks about it
@MichaelFalkowski
I still remember having very vivid childhood memories of going to Toys “R” Us. It breaks my heart that kids won’t ever get to experience that again. There are no more toy stores anymore. What a shame.
@PointFADED
It goes even deeper than this. They were short selling the crap out of Toys R Us stock while doing this. They tried doing it to Game Stop as well. Its been going on for decades. Nobody does anything about it because everyone, including politicians and judges, are in on it.
@aaronbennett3966
Should be illegal to do these practices
@andreduvall2904
So sick of greedy corrupt people
@BrazenPhrasin
One thing to note about private equity, they look to buy places that have incoming rocky economic outlooks. They don't usually buy companies that are completely currently successful. But their whole thing is to capitalize on a leaky container. They basically buy companies with minor leaks and rip the wholes open, but not before they use their own subsidiaries to capture all the money pouring out.
@noname-be2dp
It's practices like this that's really destroying the country. Toys r us was the greatest place in the world when I was a kid. With Christmas money spending an hour just walking the store aisles. Great memories.
@FisherKing010
I've never heard anything that is a perfect example of this proverb "The love of money is the root of all evil."
@wmor2449
This is called KILLING THE GOOSE THAT LAYS THE GOLDEN EGGS.
@RobbsHomemadeLife
I work for a pharmaceutical company in Miami that have been in business since the 1950s and was bought by Bain Capital in 1998. They sliced and diced us, sold off the good parts of the company to Pfizer, and then closed down 3 plants in Miami and threw 2000 people out in the street while the Bain Capital guys who were pushing papers made millions. I worked there for 17 years. Now when you go by it it's just a large storage facility.
@coutureleotards
I worked in retail for 20 years and this happened to every single company I worked for, new and old!
@Thekingmaker
"I don't want to grow up, because if I did, I'd have to learn about this private equity shid." 🎶🎶
@jacobhurley9587
It's actually much worse than this. These companies were publicly traded. They would also buy put options (a bet on failure) and execute them after the companies gets wrecked making themselves and any other insiders billions. It is called cellar boxing and is what they tried to do to GameStop. It is massively illegal, but the SEC who is supposed to enforce is in a state of regulatory capture. That means they are comfy with the insiders making these bets and also profiting off them. Why would they stop a scam they are the only ones who can when they could just not and make billions?
@curtis-ev9mo
Holy Miley !! SIS IS SPITTING IT. I ACTUALLY UNDERSTOOD THE CODEX.
@kimberleylouiseprance445