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Jen Sorensen@jensorensen.bsky.social |
This week's comic: Shell Game
32 replies 629 reposts 1686 likes
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Helian Theurgist
@mrhelian.bsky.social
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True intellectuals eat the shrimp tails to
0 replies 0 reposts 0 likes
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GlassNinja
@glassninja.bsky.social
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God I wish private equity was only going after chain restaurants. Not that I want them to go after chain restaurants either, but leveraged buyouts are occurring everywhere and they're all horseshit
1 replies 4 reposts 16 likes
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Mr. Tambourine Man
@marktmancini.bsky.social
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🎯
0 replies 0 reposts 0 likes
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Sean 🐸
@itsgoog.me
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I genuinely don't understand how this shit is actually legal. Why tf do we allow private equity to leverage debt to buy a company, put that debt on the company book, sell off everything the can, and then claim bankruptcy? This reads no different from actual fraud but its totally cool for these fucks
3 replies 13 reposts 43 likes
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Allen Gladfelter
@allengladfelter.bsky.social
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Nobody has yet explained to me why I should give a shit about Red Lobster.
1 replies 0 reposts 0 likes
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Number 1 Simisear Fan
@simisearfan1.bsky.social
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Red Lobster is going bankrupt?
1 replies 0 reposts 1 likes
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Christian Petersen (raevpet)
@raevpet.bsky.social
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Here's a cool article if people are interested: prospect.org/economy/2024...
0 replies 3 reposts 2 likes
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DTwyman
@dtwyman.bsky.social
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This is perfect!
0 replies 0 reposts 1 likes
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Magically Hip
@rwilks.bsky.social
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Also, their main shareholder was also their shrimp supplier, so...
0 replies 0 reposts 3 likes
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Kevin Moore
@kevinwmoore.bsky.social
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Remember that Sopranos episode where Tony takes a friend’s business as collateral for a gambling debt? They drove it into bankruptcy and stripped it for parts. The guy lost his business and his family. This is what private equity is, but it’s legal.
1 replies 0 reposts 7 likes
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Baj Mihal
@bajmihal.bsky.social
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I'm an instant fan because of this cartoon.
0 replies 0 reposts 0 likes
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Excalibur Discount Legal Services
@kevychristian.bsky.social
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Exactly. Private equity are parasites. They have two moves. Buy a company and butcher it for its meat. Or buy up the entire local industry so you can jack up prices because there's no competition. That move is particularly insidious when they do it with medical practices.
0 replies 1 reposts 2 likes
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Minuit
@zoroark.ca
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how this isn't illegal as fuck is just mind boggling.
0 replies 1 reposts 4 likes
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Electrichead
@electrichead.bsky.social
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The shrimp thing is a thing total dumbasses say to feel smart. Like no, shrimp are probably the cheapest thing on the menu other than soda and them being able to literally give it away means they always could have if they wanted cause they make up profit with other items. Like soda!
0 replies 0 reposts 4 likes
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Half Dad, Half Misfit
@halfdadhalfmisfit.bsky.social
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Did you also see the bit where one of their major shareholders Thai Union was also selling them shrimp, and therefore had an incentive for them to buy as much shrimp from them as possible, even if it made a loss
edition.cnn.com/2024/05/25/b....
2 replies 4 reposts 7 likes
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Austerity, estuary oracle
@austerity.bsky.social
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i thought millenials were killing the shitty chain restaurants but like every episode of scooby doo it was just another greedy white boomer dude in a mask
0 replies 0 reposts 2 likes
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Nice Footpaws
@ionotter.bsky.social
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I remember the endless shrimp commercials in the 80s, 90s and 00s. It's been around a very long time, and suddenly it's a bad idea? Yeeeeah, no.
0 replies 0 reposts 3 likes
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Business Decision Pikachu
@businesspikachu.bsky.social
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A prime example of how short-sighted private equity companies are. Any company with stable revenue should aim to own their own properties to lower their long term operating costs. Equity firms are just looking to make a quick buck and cash out, so they do the opposite.
0 replies 1 reposts 2 likes
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Cat Kimbriel
@catkimbriel.bsky.social
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Brilliant. Thank you for sharing, and for the ALT.
0 replies 0 reposts 0 likes
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Gluten-free Seitan
@davidjorgonson.bsky.social
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The real estate thing is true, but then Red Lobster was sold to a international shrimp-selling company
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Jeff Eppenbach
@jeffeppenbach.bsky.social
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Also, any "all you can eat" deals are expected to be loss leaders. Odds are, they made the money back on other things, like drinks and desserts. But, you make it look like a loss for accounting purposes, so you can write it off.
1 replies 1 reposts 33 likes
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Saul Shapiro
@sauldk.bsky.social
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Absolutely
0 replies 0 reposts 1 likes
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Deniable Credibility
@dcred.bsky.social
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exactly what happened to Toys R Us. there's a huge incentive for companies to buy up other companies, gut them, and then just shut them down. late-stage capitalism has reached a point that NOT providing a good or service - and in fact, depriving people of a good or service - is more profitable
0 replies 0 reposts 6 likes
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James Roe
@origammi.bsky.social
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Great comic. I'm starting to think these new century fat cats make up these ridiculous excuses and juuuusst laugh and laugh amongst themselves.
0 replies 0 reposts 1 likes
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Colon Musk, CEO of GaceX
@themilfmag.net
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"lobster is so much tastier when you remove the shell" 🔥🔥🔥
0 replies 0 reposts 7 likes
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Minevera MacDougal
@minmacdougal.bsky.social
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It was compounded too with the fact that the "endless shrimp" promotion was a ruse for a ponzi scheme.
0 replies 0 reposts 1 likes
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Nails the Tabaxi 🍉
@nailsthetabaxi.bsky.social
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I honestly don’t even know how that shit’s legal.
0 replies 0 reposts 1 likes
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Bottlecapp
@bottlecapp.bsky.social
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Oh, and don't forget the racism packed into the "customers exploiting endless shrimp" story too =D
0 replies 0 reposts 6 likes
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Bottlecapp
@bottlecapp.bsky.social
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Wasn't the land-jacking also a one-two punch with a shrimp company buying its way into the board of directors in order to force Red Lobster to buy way more shrimp than they could possibly use to begin with, hence the promotion?
2 replies 1 reposts 13 likes
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Lizardguy64
@lizardguy64.bsky.social
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Private Equity Firms need to be criminalized. It's clear they do nothing good, come from nothing good, and lead to nothing good.
2 replies 3 reposts 16 likes