"From railways to nurseries and children’s homes, investors are taking advantage of chances to siphon taxpayer funds offshore. Sector by sector, private equity is making deep inroads into UK public services"
"Private equity firms owned more than 20% of the health-care companies that went bankrupt last year. The nonprofit Private Equity Stakeholder Project, which investigates multiple industries, said it spotted at least 17 such bankruptcies in 2023, compared with eight in 2019 and even fewer during the previous three years, marking a 112.5% increase over the last five years."
With private equity firms failing to find success in healthcare, and with rural hospitals unable to keep their doors open, now is perfect time for the US government to take the healthcare industry public.
Profit and healthcare don't mix. Scoop up the hospitals and clinics for pennies on the dollar and restore healthcare access to rural areas.
Beautycounter was a fast-growing beauty startup -fueled by $100M in VC. In Apr 2021, it was acquired by PE firm the Carlyle Grp. It was also a leader in the clean beauty mvt. On April 17, 2024: shuttering. All employees would be fired -no severance -wouldn't not even be entitled to COBRA. Its unraveling began shortly after CEO Renfrew sold the brand’s parent co.
Hedge funds, PE firms... are vultures, employees are the 1st to go:
"A hedge fund bought the co, sold off all the land Red Lobster restaurants are located on, leased the land back to Red Lobster, & jacked the rent. Just so you know what is really going on here."
-M McDonald
Darden sold Red Lobster in 2014 to private equity firm Golden Gate Capital for $2.1B. It parted with its remaining stake in the chain in 2020, selling to Thai Union Group.
Private Equity loses a deal in California, which is good news to PG&E customers, but it's a rarity:
California PUC rejects PG&E plan to spin off 5.6 GW in non-nuclear assets. PG&E failed to show the proposed transaction meets “even the minimal public interest standard,” the PUC said in its decision. Among other things, there'd be decreased legal accountability for PG&E’s safe & reliable operation of the generating assets, the PUC said.
20% of American business is now controlled by private equity *draining $B's out of our economy every week to stash in the money bins of its morbidly rich owners...
PE reps. capitalism run amok (cancer stage) & it can be deadly. PE acquisitions of nursing homes led to an est. 20K premature deaths.
The Biden admin has taken some tentative steps, but Republicans...
This @pluralistic paragraph is good for a laugh more bitter than radish-flavored coffee with dandelion greens.
Sometimes it's hard to tell who the enemy of the whole world is, and then sometimes, as a Navy officer told the newsreels in 1946 as he attempted to justify nuking the Bikini Islands, "The way is clear, the challenge strong, the duty inescapable." Please join me in gathering up every human being involved in #PrivateEquity and shooting them into the sun. 🚀 🌞
Apollo Global Mgt bet on the longevity of senior citizens by acquiring illegal life INSUR policies & funneling the payouts thru shell entities.
It allegedly set up a web of sham trusts—using a secretive affiliate called FIN Credit Investment—to hold a portfolio of stranger-originated life insurance policies worth ~$20B. Taking out life INSUR on a stranger is “anathema to 100s of years of public policy” -violation of the DE Const.