Private Equity: These are the Plunderers

[Orko]

Besides maybe nuclear war, this should be the most important political issue.

ADHD Version 2 min 10 sec straight to the heart of the scam.

15 min 05 sec Trump made these changes near the end of the first term
Sooner or later these guys are going to come for Druff's 7 star perks, if they haven't already.


Speaking of nuclear war, not that anybody cares. Documents have been leaked
that describe Russia's policy on the use of nuclear weapons.
https://www.tiktok.com/@trunewsoffic...64725834386734

Factoid: The woman who prosecuted SBF (the one who dropped all the campaign finance related charges) is married
to a big shot from Apollo Management, one of the most ruthless PE firms. Not that there's anything wrong w that,
I just thought it was amusing.

[OK2]

okay but don't ever use this faggot to make a point again ork

[Orko]

This private equity shit is more sinister than can imagine. The way the media gives them cover is evil.
Anytime you see some store closing you can bet they got fucked by private equity. What they do should not be legal but it is
because dumb fuck republicans think allowing sleazballs to bribe our elected reps is free speech.
We are fucked folks.

Check out how the media covers up for those sleazeballs in private equity.

https://www.cnn.com/2024/05/13/busin...nts/index.html

New York
CNN
—
Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator.

TAGeX Brands is conducting an online auction of Red Lobster kitchen equipment, furniture and other contents at restaurants closing. The auction begins Monday and continues through Thursday, according to company founder Neal Sherman.

Red Lobster is reportedly considering filing for bankruptcy protection. The chain has tapped a restructuring expert as its chief executive, a possible indicator of an impending bankruptcy.

Red Lobster was a restaurant industry pioneer, but has declined in recent years due to a range of factors, including corporate mismanagement, say former leaders at the chain and restaurant analysts.

In 2020, Thai Union, a longtime supplier to Red Lobster, took an undisclosed financial stake in the chain, becoming a key shareholder. Since then, Red Lobster has cycled through four CEOs and an all-you-can-eat shrimp deal last year that slowed down table service and cut into Thai Union’s profitability.

Thai Union said earlier this year it would divest from Red Lobster and take a $530 million loss on its investment."
Sounds like business was slow and everyone took a loss. that's it.
No they got plundered hardcore.

If you google red lobster private equity you get the real story.
The fishy death of Red Lobster
Endless Shrimp didn't sink the seafood chain. Wall Street did.
ith the chain on the verge of bankruptcy, it has become abundantly clear that Red Lobster letting customers eat all the shrimp their hearts desire was not a great business idea. It's also not the reason the restaurant is in a deep financial mess.

In mid-April, Bloomberg reported the debt-laden seafood chain and home of beloved cheddar biscuits was considering filing for Chapter
11 bankruptcy protection. Red Lobster is being bogged down by increased labor costs and expensive leases on its restaurants. Some observers were quick to blame the financial woes on its decision last year to make its "Endless Shrimp" promotion, which used to be an occasional, limited-time offering, permanent. The move was not a smart one. While Red Lobster increased traffic somewhat, people coming in to chow down on all-you-can-eat shrimp was a money bleeder. The company blamed Endless Shrimp for its $11 million losses in the third quarter of 2023, and in the fourth quarter, the picture got even worse, with the restaurant chain seeing $12.5 million in operating losses.

But the story about what's gone wrong with Red Lobster is much more complicated than a bunch of stoners pigging out on shrimp (and, later, lobster) en masse. The brand has been plagued by various problems — waning customer interest, constant leadership turnover, and, as has become a common tale, private equity's meddling in the business.

https://www.businessinsider.com/red-...-estate-2024-5

Private equity completely destroyed a chicago area grocer, closed for good, stiffed a bunch of people that counted on them.

That's minor league

[Orko]

Companies bought by private equity firms are far more likely to go bankrupt than companies that aren’t. Over the last decade, private equity firms were responsible for nearly 600,000 job losses in the retail sector alone. In nursing homes, where the firms have been particularly active, private equity ownership is responsible for an estimated — and astounding — 20,000 premature deaths over a 12-year period, according to a recent working paper from the National Bureau of Economic Research. Similar tales of woe abound in mobile homes, prison health care, emergency medicine, ambulances, apartment buildings and elsewhere. Yet private equity and its leaders continue to prosper, and executives of the top firms are billionaires many times over.

Why do private equity firms succeed when the companies they buy so often fail? In part, it’s because firms are generally insulated from the consequences of their actions, and benefit from hard-fought tax benefits that allow many of their executives to often pay lower rates than you and I do. Together, this means that firms enjoy disproportionate benefits when their plans succeed, and suffer fewer consequences when they fail.
\
Look at this crap, it shouldn't be legal.
Consider the case of the Carlyle Group and the nursing home chain HCR ManorCare. In 2007, Carlyle — a private equity firm now with $373 billion in assets under management — bought HCR ManorCare for a little over $6 billion, most of which was borrowed money that ManorCare, not Carlyle, would have to pay back. As the new owner, Carlyle sold nearly all of ManorCare’s real estate and quickly recovered its initial investment. This meant, however, that ManorCare was forced to pay nearly half a billion dollars a year in rent to occupy buildings it once owned. Carlyle also extracted over $80 million in transaction and advisory fees from the company it had just bought, draining ManorCare of money.

ManorCare soon instituted various cost-cutting programs and laid off hundreds of workers. Health code violations spiked. People suffered. The daughter of one resident told The Washington Post that “my mom would call us every day crying when she was in there” and that “it was dirty — like a run-down motel. Roaches and ants all over the place.”

In 2018, ManorCare filed for bankruptcy, with over $7 billion in debt[/B]. But that was, in a sense, immaterial to Carlyle, which had already recovered the money it invested and made millions more in fees. (In statements to The Washington Post, ManorCare denied that the quality of its care had declined, while Carlyle claimed that changes in how Medicare paid nursing homes, not its own actions, caused the chain’s bankruptcy.)

Carlyle managed to avoid any legal liability for its actions. How it did so explains why this industry often has such poor outcomes for the businesses it buys.

The family of one ManorCare resident, Annie Salley, sued Carlyle after she died in a facility that the family said was understaffed. According to the lawsuit, despite needing assistance walking to the bathroom, Ms. Salley was forced to do so alone, and hit her head on a bathroom fixture. Afterward, nursing home staff reportedly failed to order a head scan or refer her to a doctor, even though she exhibited confusion, vomited and thrashed around. Ms. Salley eventually died from bleeding around her brain.

Yet when Ms. Salley’s family sued for wrongful death, Carlyle managed to get the case against it dismissed. As a private equity firm, Carlyle claimed, it did not technically own ManorCare. Rather, Carlyle merely advised a series of investment funds with obscure names that did. In essence, Carlyle performed a legal disappearing act.

In this case, as in nearly every private equity acquisition, private equity firms benefit from a legal double standard: They have effective control over the companies their funds buy, but are rarely held responsible for those companies’ actions. This mismatch helps to explain why private equity firms often make such risky or shortsighted moves that imperil their own businesses. When firms, through their takeovers, load companies up with debt, extract onerous fees or cut jobs or quality of care, they face big payouts when things go well, but generally suffer no legal consequences when they go poorly. It’s a “heads I win, tails you lose” sort of arrangement — one that’s been enormously profitable.

Umfuckingbelievable and thanks to the GOP they can legally bribe lawmakers.
It's time to deport the entire GOP leadership to the land they love, israel. Don't call us, we'll call you.

[sah_24]

FED is 100x the problem ...

[Orko]

Nice fish.

Embedded Tweet

https://twitter.com/propublica/status/1671504541076815876

Why would Alito accept a trip like this? You're integrity is totally compromised and you didn't even get paid.

You have to assume Singer is a total tight wad, so he uses fishing trips to bribe.
Hell look at that piece of shit boat.


Cheap lil whores we have in DC.

[Orko]

JC Penny's has been plundered by private equity. It takes about 3 to 4 years for a PE firm to drown a business w debt.

The media is again covering this up, they say online shopping destroyed JC Penny. no it was PE.

There's like ten other PE stories I didn't post.


In other news
Right now the biggest pile if shit PE firm is Roark Capitol. If Trump's re elected 2025 will be the biggest upward transfer of wealth in history.
It will cause an implosion that the country will never recover from.

[lol wow]

great story dorko UHHH BAZZING GGGGGGGGGGGGGGGG

[Orko]

Stop & Shop to Close 32 Underperforming Stores by Year-End.

Acquired by Cerebus Capital Management on 2022.

The senior leadership consists of former vp Dan Quayle and a dozen or so Jews.

Once again the media's completely covering up what's happening.

These fuckers are allowed to take out massive loans to buy businesses but they're not responsible for paying it back.
The businesses they buy are responsible for the debt, huh?

It's blatant plundering that would be outlawed in a non corrupt country.
They have all kinds of other dirty tricks that'll be legalized under Trump.

[Orko]

Tender Greens and parent company One Table Restaurant Brands file for bankruptcy
Tender Greens and its parent company (which also owns Tocaya) filed for Chapter 11
protection and is considering a sale of its assets.

The string of bankruptcies continues for the restaurant industry in 2024, as the Southern California-based salad and bowls concept, Tender Greens, and its parent company, One Table Restaurant Brands (also parent company to fast-casual Mexican chain, Tocaya), filed for Chapter 11 bankruptcy protection on July 17 and July 18, respectively.

Together, Tender Greens and Tocaya operate around 40 locations, mostly in California. According to bankruptcy documents, the Los Angeles-based One Table Restaurant Brands has an estimated $10 million to $50 million of liabilities, with under $50,000 of assets, and is considering a sale in the form of an auction or stalking horse bidder.

The highlighted it what private equity does for the businesses they purchase. Thanks guys, appreciate it.
Soon the whole country will be like this.
Once again the media is totally covering up what's really happening.

Headline
2015
Capitala Puts $20M into Tender Greens
Capitala Finance Corp. has announced it recently invested $20 million, with warrant participation, in Tender Greens Holdings, a grower, packer and shipper of niche tender-leaf salad greens. The company's products are distributed to markets throughout North America and the U.K.; it has farming operations in eight U.S. states.
Capitala Finance Corp.


They invested $20 Mil, they must have been impressed. Nope they invested maybe $2 million and took out a loan for the other $18 Mil
that they won't have to pay back. Then they sold off all the property to make their $ 2 million back and some profit. Instead of giving the profit to stakeholders
they take it all in fees they charge. Tender Greens now has to pay rent on all their property they once owned on top of the $18 million.
Nice!

These pieces of shit im private equity act like they're financial geniuses, no they're con men of the greasiest type thru and thru. So
what happens if the lender can't get all their money back from Tender Greens.

Bailout by Uncle Sam or their customers get fucked. Sorry your retirement is gone.

[Orko]

The billionaire class doesn't think it's corrupt enough. Reid Hoffman (the man who rigged the 2020 primary for Biden) and Barry Diller
have gave $7 million to Kamala and a request to fire Lisa Khan head of the FTC.

Can there be one person in charge that isn't Jewish?
No! Fire that bitch, no Arab's allowed. That's their version of diversity.



Bernie all alone doing the right thing.

These private equity firms are trying to create monopolies and she's not rubber stamping them.
Wait til they get a monopoly on your food and medicine, they'll have the media talk up inflation while
they ruthlessly exploit.

[Orko]

So yeah Big Lots, Rite-Aid/CVS and many other businesses are closing locations because they got plundered by Private Equity.
The cold blooded and ruthless manner in which these firms treat their workers is shocking.

Which brings us to Intel, the headlines speak for themselves.
Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals
Intel smacked with an investor lawsuit following $32 billion loss
8/8/24

Intel Turns to Private Equity (Again) for Foundry-Expansion Cash
6/8/24 Look at how misleading these articles are
Building and expanding semiconductor factories, particularly those manufacturing cutting-edge chips using the latest and greatest technologies,
is a capital-intensive affair. Intel (NASDAQ: INTC) estimates that a typical semiconductor factory takes three years to build and costs roughly $10 billion.
Intel is in the middle of a multiyear strategy shift that will transform the iconic company into a leading semiconductor foundry. Historically, Intel has used its manufacturing arm solely to make its own chips for PCs and servers. Now, the company wants to make chips for others, as well.

Intel is investing more than $100 billion in the U.S. over the next five years to expand its chipmaking capacity, plus another 50 billion euros allocated for Europe.
Government subsidies, including grants and loans through the U.S. CHIPS and Science Act, will fund some of the expansions, and Intel's capital spending is at an elevated level as it grows its manufacturing footprint.
Intel entered into its first co-investment agreement in 2022, partnering with Brookfield Asset Management to expand its manufacturing facilities in Arizona. Under that deal, Intel would fund 51% of the project while Brookfield would fund the remaining 49%, up to a total cost of about $30 billion. Intel retained majority ownership and operational control.

Intel announced a second private equity investment during Computex this week. The company has partnered with Apollo to help fund the buildout of Fab 34 in Ireland.
It's interesting they're specifically targeting Fab 34 Ireland, the Israeli fabs aren't targeted. There's no infusion of cash. It's an infusion of crippling debt and cost cutting.


Apollo will lead an investment of $11 billion to acquire a 49% equity interest in the facility, leaving Intel with majority ownership and operational control. This cash infusion allows Intel to deploy capital elsewhere while continuing the buildout of Fab 34.
That was 2 months ago, the future sure looks bright for Intel.
So that huge chip maker govt grant that Schumer peddled was stolen by private equity.

Lets see if employees in Israel are treated as badly as Americans.
9 months ago
Tech giants including Intel, Salesforce and Cisco are giving cash payments to employees in Israel.

Intel CEO Pat Gelsinger said it was a "sign of appreciation," Israeli outlet Globes reported.


INTEL
Intel plans to give $5,000 US to each of its 12,000 workers in Israel in November, business news outlet Globes reported.
They did follow thru.

SALESFORCE
Salesforce is also giving employees in Israel a payment of $2,483, while those in the army reserve will get twice that sum, according to the report.
Cisco is also providing a grant of between ($2,355 to $4,710) to 800 workers in Israel, tech news site Ctech reported.
Nvidia Cisco Oracle all of them are paying bonuses.

They wouldn't give American workers a nickel.

[Tellafriend]

So yeah Big Lots, Rite-Aid/CVS and many other businesses are closing locations because they got plundered by Private Equity.

they were plundered by our greatest strength.

[Orko]

A stunning revelation, this is how insane it is to allow your company or union to put money imto private equity aka a hedge fund.
There are employees who try to sue the people in charge of their pension to prevent them from handing it to private equity.
From what i've seen the employees always lose.

Here's the revelation, Carl Ican got busted for concealing billions in personal loans backed by comapany stock. Icahn's such a greasy crook there's no way he's personally paying the loans back.
He's going to let the retirees n such invested in his hedge fund to pay them back. Imo robbing billions from your investors seems like a big deal but it's not. The penalty was less than a slap on the wrist.
Icahn will have to pay a measly $2 million and admit no wrong doing, wow. So the banks that gave him the loans knew this and didn't alert the authorities or the people invested in Icahn Enterprises.
There wasn't even a requirement to report it.

You can just tell this whole thing is set up so this lil mafia can rob the fuck out of people. You have to wonder if they were ever planning to just loot all of it and relocate to some other country.

[Orko]

It's worse than you can imagine or even dream.

[Orko]

Speaking of plundering
Lets talk about these Israeli tech start ups.


I suspect the Israelis creating the start ups are conspiring with people on the boards of these American corporations to purchase useless Israeli start ups at insanely high prices.

It's like they cobble together some unproven software, name it and hype it up and a US corporation will buy it for billions and shelf it.
Billion, not millions. This is happening so often that Israel is known as the start up nation.

I try to be objective but maybe i'm biased.
Every now and then i'll post some of these deals and you decide.

In 2020 these 4 dudes cobbled up some security software.
2024 Google will likely purchase it for $23 billion.

Hahaha i'm calling bullshit.
Imo $23 million seems high, $230k seems about right.
Even that seems high.
Mark my word, if this goes thru google will never use the software. They'll shelf it.

[Orko]

Undisclosed sum.

[Orko]

The threat posed by Private Equity is going mainstream, people are speaking out. Now that it's too late.
New site that looks like the drudge report but only private equity rerlated. reg updated
https://www.shortprivateequity.com/

The next financial crisis will be caused by private equity and it'll be much larger than 08 collapse.
recent headlines

Moody’s Sounds Alarm on Private Funds for Individuals
Chasing retail money could pose risks to investors, private funds and financial system, Moody’s says

“We’ve Been Sold a Story That Isn’t Remotely True”: How Private-Equity Billionaires Killed the American Dream

vanity fair

This video explains the scam and these bastards havew plundered everything.


All of this is possible because of republicans and their legalization of bribery.