the fact that we can look at most major problems with our lives and guess "this is the fault of private equity" - and have that actually be correct a shockingly large percentage of the time - is an excellent reason to regulate the industry into the ground
That's right, and our pets are dying from inadequate care just like we are. Privatization for the almighty $$$ just means paying more for less. It's the same thing that goes on w human healthcare. You can have all the medical care you need as long as you can pay for it.
Mitt Romney SHOULD have been all the warning flag folks needed that private equity was EVIL, EVIL, EVIL. Instead, he's been retconned as the "Good Republican" avatar vs. Donald Trump--some that his VERY different father could actually legitimately be.
Put E Warren in charge of the profit-taking rent-seekers you cowards
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Pretty Fly for a Cat Guy (warning: unreliable narrator)@majima.club
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As a vet tech whose career started in 2001/2002, I wholly support this idea. It’s disgusting to see the way the profession has changed and it is almost entirely the fault of PE and VCs looking at a bond between two living beings and seeing dollar signs.
Saw this morning that a 500 driver trucking company shut down over the weekend without paying final checks.
Sure enough, second sentence, "the private equity owners could not be reached for comment".
instead of building up a new business with their massive piles of money, they just pilfer and extract any potential value remaining in a brand, property, and customer base
If we do manage to get regulations in place, lawmakers will set the date it takes effect somewhere in the future.
During that time, private equity firms will treat our economy the way Homer Simpson treated Ed Grimes' special dietetic sandwich.
Possibly someone out there could point out something POSITIVE that private equity firms accomplish - besides enriching their shareholders at other people's expense... Anyone?
It’s the corporate equivalent of us finding out a “bootstrap self-starter kid l” was actually funded by a $2mm gift by his parents.
Every single time it is the real answer.
I have a friend who owns a veterinary hospital. He does ok but is not actually making huge bank. Turns out his costs are very high but the main driver of his modest prosperity is that people love their fucking dogs.
He says the corps drive unnecessary procedures and extra vaccinations for profit.
this was basically the campaign Obama ran against Mitt Romney in 2012 and everyone on the right lost their god damn minds about the smearing of a "good man" as an unfeeling vulture capitalist
he was right though
Imagine PE didn't exist and you were pitching this idea to society:
"What if we insert another level of upper management above the people who understand how the company works? They provide no value and are just there to siphon off as much money as possible."
the nice part of me hopes that, for their own sake, the evil money men realize that regulation is the civilized compromise
they will like even less what my alternative for them is