this post was submitted on 26 May 2024
1007 points (98.9% liked)
United States | News & Politics
1775 readers
408 users here now
Welcome to [email protected], where you can share and converse about the different things happening all over/about the United States.
If you’re interested in participating, please subscribe.
Rules
Be respectful and civil. No racism/bigotry/hateful speech.
Post anything related to the United States.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
They've basically siphoned the businesses assets out into cash for themselves, a little bit at a time.
Owning Red Lobster might sound like a cool idea but imagine if you were a hedge fund and you could own the equivalent of the value of Red Lobster in the form of cold hard cash money.
(this hypothetical requires you to abandon all human empathy or long term ethics)
The same thing Mitt Romney did for a living at Bain Capital. Buy a business, strip the assets, declare bankruptcy, profit. Vulture Capitalism.
Not a little bit at a time. When they sold all land they would have paid out fat dividends and fees due to the huge profit windfall.
A little bit at a time in reference to the entire brand. It might seem like massive amounts, but it was part of it sold then and part of it sold now.