We're not their first and they're still acquiring. My company wasn't the best to work for already but it was close to home. This is a finishing blow. Actually have round two interviews at a better place tomorrow. Is sad to see. Many jumped ship before me. Im frustrated that I have to learn new products and processes after honing my skills for over a decade but here we are.
Good luck. It's brutal out there, trying to find work. Tons of places are saying they're hiring, and even holding interviews, but most are just playing games with the job seekers.
Agree!
Let it be known, this is what private equity does.
Buy in controlling position of company by securing investment (Banks) using their built wealth for said company distributing capital to the owners for the positions the take in ownership while keeping a portion of proceeds for fees leaving a small portion to capitalize the company’s business. Rinse repeat this method of capitalization to max available borrowing. If the company remains successful with the debt load it continues. Unfortunately in a lot of cases the debt load bankrupts the company leaving an unsecured investment bank holding the bag while the private equity company turns ownership over to the firm owning the unsecured debt and walks away clean.
Rinse repeat..
Private equity manufacturers their wealth by debt on others shoulders.
WI, We use to compete with Canada for selling glossy paper for magazines. This out of country equity firm bought out local paper mill. Using the WI state retirement fund as the purchasers. Ie. Used WI funds to buy the company. SHUT IT DOWN, for years. Then when it was no longer viable or functional they sold the machines for scrap. The motherfuckers used our own money to hollow out a primary industry and kill it. Our small town never recovered. The ass clowns in the state government were bribed? to help kill a competitive company. FFS, these ultra rich just walk in and kill or take whatever they want. I'm sick of it. Neenah use to be a heavy industry, now I drive through it hurts my heart, just lot after lot of boarded up industry. Hollowing out of America.
I know it's not nearly as important, and Starbucks already sucks, but those assholes bought out Teavana stores and then shut them all down, presumably because they don't do tea, and very demonrat-like, killed off the caffeinated competition. I can't see a healthy society happening when predatory business is the norm.
Company I work for is collapsing after a buyout like this. Seems by design.
Small company will not survive. That's usually the case.
We're not their first and they're still acquiring. My company wasn't the best to work for already but it was close to home. This is a finishing blow. Actually have round two interviews at a better place tomorrow. Is sad to see. Many jumped ship before me. Im frustrated that I have to learn new products and processes after honing my skills for over a decade but here we are.
Oh I am so sorry about this.
Good luck. It's brutal out there, trying to find work. Tons of places are saying they're hiring, and even holding interviews, but most are just playing games with the job seekers.
Sadly, this is the vibe I have after walking away from it today...
Equity Firms = Banksters = Cancer.
Whatever they touch dies.
Oh. They changed name from banksters. Now I understand.
I want my money back or we can hang these people.
Agree! Let it be known, this is what private equity does. Buy in controlling position of company by securing investment (Banks) using their built wealth for said company distributing capital to the owners for the positions the take in ownership while keeping a portion of proceeds for fees leaving a small portion to capitalize the company’s business. Rinse repeat this method of capitalization to max available borrowing. If the company remains successful with the debt load it continues. Unfortunately in a lot of cases the debt load bankrupts the company leaving an unsecured investment bank holding the bag while the private equity company turns ownership over to the firm owning the unsecured debt and walks away clean. Rinse repeat.. Private equity manufacturers their wealth by debt on others shoulders.
Well we can do both. Seize their accounts and property AND hang them. It's not either or😎
WI, We use to compete with Canada for selling glossy paper for magazines. This out of country equity firm bought out local paper mill. Using the WI state retirement fund as the purchasers. Ie. Used WI funds to buy the company. SHUT IT DOWN, for years. Then when it was no longer viable or functional they sold the machines for scrap. The motherfuckers used our own money to hollow out a primary industry and kill it. Our small town never recovered. The ass clowns in the state government were bribed? to help kill a competitive company. FFS, these ultra rich just walk in and kill or take whatever they want. I'm sick of it. Neenah use to be a heavy industry, now I drive through it hurts my heart, just lot after lot of boarded up industry. Hollowing out of America.
Canada. Our close cousin.
I know it's not nearly as important, and Starbucks already sucks, but those assholes bought out Teavana stores and then shut them all down, presumably because they don't do tea, and very demonrat-like, killed off the caffeinated competition. I can't see a healthy society happening when predatory business is the norm.
Oh. I do like Teavana. That's sick how they shut them down.
These monsters destroyed American manufacturing