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#privateequity

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Public
The Media & Democracy Project

"Stripped for Parts: American Journalism on the Brink" is the story of a secretive hedge fund plundering America’s newspapers, and the journalists who are fighting back.

Join our free Zoom screening followed by a discussion with Director Rick Goldsmith: March 29 at 8 pm ET

tiny.cc/screening329

MobilizeSCREENING: "Stripped for Parts: American Journalism on the Brink" + Director Rick Goldsmith · The Media and Democracy ProjectWorried about the media diets of your fellow Americans, the loss of local journalism jobs - and the impact of this on our democracy? Join our Zoom screening of "Stripped for Parts: American Journalism on the Brink" followed by discussion with Director Rick Goldsmith. Stripped for Parts is the story of a secretive hedge fund that is plundering what is left of America’s newspapers, and the journalists who are fighting back. Hedge fund Alden Global Capital is quietly gobbling up newspapers across the country and gutting them, but no one knows why– until journalist Julie Reynolds begins to investigate. Her findings trigger rebellions across the country by journalists working at Alden-owned newspapers. Backed by the NewsGuild union, the newsmen and women go toe-to-toe with their “vulture capitalist” owners in a battle to save and rebuild local journalism in America. Who will control the future of America’s news ecosystem: Wall Street billionaires concerned only with profit, or those who see journalism as an essential public service, the lifeblood of our democracy? Trailer: https://vimeo.com/923029964 This film is NOT available on streaming platforms. This is a unique opportunity to watch via Zoom with Director Q&A - and be empowered with *ACTIONS YOU CAN TAKE* to fight for local journalism! Rick Goldsmith is a Peabody award winner and an Academy Award-nominee. More here: https://strippedforpartsfilm.com/the-filmmaker/
#Press#Journalism#PrivateEquity
Public
The Media & Democracy Project

Will America’s news ecosystem continue to be dominated by billionaires or can those of us who realize journalism is the lifeblood of our democracy mount a comeback?

Join our free Zoom screening of ‘Stripped for Parts: American Journalism on the Brink’ on March 29. mobilize.us/mediademocracyproj

MobilizeSCREENING: "Stripped for Parts: American Journalism on the Brink" + Director Rick Goldsmith · The Media and Democracy ProjectWorried about the media diets of your fellow Americans, the loss of local journalism jobs - and the impact of this on our democracy? Join our Zoom screening of "Stripped for Parts: American Journalism on the Brink" followed by discussion with Director Rick Goldsmith. Stripped for Parts is the story of a secretive hedge fund that is plundering what is left of America’s newspapers, and the journalists who are fighting back. Hedge fund Alden Global Capital is quietly gobbling up newspapers across the country and gutting them, but no one knows why– until journalist Julie Reynolds begins to investigate. Her findings trigger rebellions across the country by journalists working at Alden-owned newspapers. Backed by the NewsGuild union, the newsmen and women go toe-to-toe with their “vulture capitalist” owners in a battle to save and rebuild local journalism in America. Who will control the future of America’s news ecosystem: Wall Street billionaires concerned only with profit, or those who see journalism as an essential public service, the lifeblood of our democracy? Trailer: https://vimeo.com/923029964 This film is NOT available on streaming platforms. This is a unique opportunity to watch via Zoom with Director Q&A - and be empowered with *ACTIONS YOU CAN TAKE* to fight for local journalism! Rick Goldsmith is a Peabody award winner and an Academy Award-nominee. More here: https://strippedforpartsfilm.com/the-filmmaker/
#Journalism#PrivateEquity
Public
The Media & Democracy Project

"Stripped for Parts: American Journalism on the Brink" is the story of a secretive hedge fund plundering America’s newspapers, and the journalists who are fighting back.

Join our free Zoom screening followed by a discussion with Director Rick Goldsmith: March 29 at 8 pm ET

tiny.cc/screening329

MobilizeSCREENING: "Stripped for Parts: American Journalism on the Brink" + Director Rick Goldsmith · The Media and Democracy ProjectWorried about the media diets of your fellow Americans, the loss of local journalism jobs - and the impact of this on our democracy? Join our Zoom screening of "Stripped for Parts: American Journalism on the Brink" followed by discussion with Director Rick Goldsmith. Stripped for Parts is the story of a secretive hedge fund that is plundering what is left of America’s newspapers, and the journalists who are fighting back. Hedge fund Alden Global Capital is quietly gobbling up newspapers across the country and gutting them, but no one knows why– until journalist Julie Reynolds begins to investigate. Her findings trigger rebellions across the country by journalists working at Alden-owned newspapers. Backed by the NewsGuild union, the newsmen and women go toe-to-toe with their “vulture capitalist” owners in a battle to save and rebuild local journalism in America. Who will control the future of America’s news ecosystem: Wall Street billionaires concerned only with profit, or those who see journalism as an essential public service, the lifeblood of our democracy? Trailer: https://vimeo.com/923029964 This film is NOT available on streaming platforms. This is a unique opportunity to watch via Zoom with Director Q&A - and be empowered with *ACTIONS YOU CAN TAKE* to fight for local journalism! Rick Goldsmith is a Peabody award winner and an Academy Award-nominee. More here: https://strippedforpartsfilm.com/the-filmmaker/
#Journalism#Press#PrivateEquity
Public *
Nonilex

#ElonMusk’s #DOGE has sent 3 individuals w/experience in #PrivateEquity & #finance to the #SocialSecurity Admin, highlighting the focus that #Trump is putting on *rooting out waste & fraud in the nation’s social insurance programs* [dismantling & privatizing the system].

#benefits #government #kleptocracy #TrumpCoup #USpol #law
archive.is/2025.03.10-183556/h

Public
your auntifa liza 🇵🇷 🦛 🦦

🗣️ OFF WITH THEIR #PrivateEquity HEADS!!!

Eileen O'Grady, a researcher at the Private Equity Stakeholder Project, stated in a report: "A review by the Private Equity Stakeholder Project (PESP) has found that private equity firms played a role in eleven of the 17 (65 percent) largest US corporate bankruptcies during the first six months of 2024 (bankruptcies with liabilities of $1 billion or greater at the time of filing)."

newsweek.com/stores-closing-af

capitalism creates poverty ON PURPOSE

Newsweek · List of Stores Closing After Being Taken Over by Private EquityBy Robert Thorpe
Continued thread
Public *
Dave Rahardja

Another familiar #PrivateEquity story (please double check my claims):

1. Publicly-traded Jo-Ann Fabrics was bought out by Private Equity firm Leonard Green & Partners in 2010, with close to ZERO DEBT (cleveland.com/business/2010/12).

2. Jo-Ann then went public again in 2021, now saddled with $930M in debt (forbes.com/sites/joanverdon/20). In short, the private equity firm loaded them up with nearly A BILLION DOLLARS IN DEBT.

3. Jo-Ann stocks steadily declined over the next few years.

4. Jo-Ann declared bankruptcy in 2024, still with a $1B in debt on the books, and emerged as a private company, after restructuring their debt to $500M (apnews.com/article/joann-closi).

5. Jo-Ann announced they will close all stores in 2025 (usatoday.com/story/money/2025/).

This sounds like the same playbook that took down Red Lobster: Take a company with no debt, saddle it with enormous amounts of debt (no doubt held by its new owners), bleed them dry by extracting significant interest on said debt, then shut everything down and liquidate.

cleveland · Jo-Ann Stores agrees to $1.6-billion buyout from private equity firmBy Janet H. Cho, The Plain Dealer
Public
Ecologia Digital

"A damning indictment of the #PrivateEquity industry told through the stories of four American #workers whose lives and communities were upended by the ruinous effects of private equity #takeovers.
Private equity runs our country, yet few Americans have any idea how ingrained it is in their lives. Private equity controls hospitals, daycare centers, supermarket chains, voting machine manufacturers, local newspapers, nursing home operator and prison service providers."

bookshop.org/p/books/bad-compa

Replied in thread
Public
Tuckers Nuts Resist! 🇺🇦 

🥥 Why is there never a Luigi around when you need one?
"The crimes that monsters commit in the name of ideology pale in comparison to the crimes the wealthy commit for money." --Cory Doctorow
Doctorow lays out the criminal nature of private equity companies and the Nazi-era corporate roots in their DNA.
pluralistic.net/2023/06/02/plu
🥥
#PrivateEquity #CoryDoctorow #Nazis #Luigi #TuckersBalls

pluralistic.netPluralistic: The long lineage of private equity’s looting (02 June 2023) – Pluralistic: Daily links from Cory Doctorow
Continued thread
Public
Tuckers Nuts Resist! 🇺🇦 

🥥 Here's a link to a Cory Doctorow article in which he lays out in detail how private equity works and how it's the nearest thing to legalized theft and fraud other than Musk's continuing illegal raid of the US government:
pluralistic.net/2023/06/02/plu
🥥
#USGovernment #CoryDoctorow #PrivateEquity #Theft #Fraud #ElonMusk #TuckersBalls

pluralistic.netPluralistic: The long lineage of private equity’s looting (02 June 2023) – Pluralistic: Daily links from Cory Doctorow
Public
Kim Perales

“Khan warns of ‘catastrophic consequences’ if Trump gives free hand to private equity’”

“A new study finds that doctors' visits at private equity-owned hospitals are significantly more expensive than visits at independent practitioners.

It's yet another example of how private equity is looting America.”
-R Reich

Private equity was already a debacle, & now Trump & his new found oligarchs, want to enshrine the #enshitification.

#CorporateGreed #PrivateEquity #USPol ft.com/content/ed2ad30a-1e24-4

Financial Times · Lina Khan warns of ‘catastrophic consequences’ if Trump gives free hand to private equityBy Stefania Palma
Public
Miguel Afonso Caetano

"Why couldn’t the LAFD keep its equipment in working order? A lot of people blame budget cuts, but there’s another root issue - increasing prices and metastasizing production delays for these vehicles. The cost of fire trucks has skyrocketed in recent years––going from around $300 -500,000 for a pumper truck and $750-900,000 for a ladder truck in the mid-2010s, to around $1 million for a pumper truck and $2 million for a ladder truck in the last couple years. Meanwhile, the time it takes to get a fire truck delivered has grown dramatically, from less than a year before the pandemic to anywhere between 2 and 4.5 years today. (It’s not just trucks, all fire equipment is increasing quickly in price, from air supply packs to maintenance contracts.)

The skyrocketing prices and longer delivery times have made it difficult for the LAFD to replace aging vehicles in its fleet, many of which have exceeded their service life. As the LAFD’s vehicles have gotten older, they’ve become prone to more frequent and serious breakdowns, leading to more costly repairs and prolonged downtime. And as the rising cost of fire-truck maintenance and replacement has squeezed the department’s budget, it has had fewer resources for recruiting and retaining firefighters. Against this backdrop, the LAFD wound up having to face some of the worst fires LA has seen in a century while both understaffed and under-equipped.

What I’ll show you in this piece is that the increasing price is a result of a private equity firm, American Industrial Partners, consolidating the fire truck industry and forcing up prices across the board. For decades before the 2010s, the fire apparatus industry was characterized by relatively stable (inflation-adjusted) prices and ample production capacity."

thebignewsletter.com/p/did-a-p

#USA#LA#LosAngeles
Replied in thread
Public
Pauline von Hellermann

#FollowTheMoney 🧵 51/n Richard’s video has spurred me on to do a few posts now on #PrivateEquity. Long overdue here, because private equity is at the heart of how our world works!

(Just to state again: i am not an expert, just someone who is trying to make sense of our world by #FollowingTheMoney, in an eclectic 🧵)

To start with basics: what is private equity? I like this clear definition by Justin Robertson

tandfonline.com/doi/full/10.10

"Private equity funds are businesses that draw upon capital and debt in the international financial system to acquire stakes in companies that are intended to be sold for profit after a number of years. Unlike hedge funds, which are mostly short-term traders, private equity funds take ownership and management control of corporations."
Replied in thread
Public *
Victoria Stuart 🇨🇦 🏳️‍⚧️

Pam Bondi Protected Foreclosure Fraudsters
prospect.org/justice/2024-11-2

* Trump2 U.S. attorney general nominee
* as AG of Florida fired first 2 prosecutors investigating use of false evidence to kick people out of homes

Pam Bondi, Trump2 Attorney General Pick Lobbied for Amazon/Uber/Qatar
readsludge.com/2024/11/22/pam-

#PamBondi #USAG #Trump2 #GOP #fascism #authoritarianism
#AFPI #AmericaFirstPolicyInstitute
#billionaires #corporations #libertarianism
#lobbyists #Amazon #AMZN #Qatar #UBER #PrivateEquity

The American Prospect · When Pam Bondi Protected Foreclosure FraudstersThe new attorney general nominee, while serving as AG of Florida, fired the first two prosecutors to investigate the use of false evidence to kick people out of their homes.
Public
Paco Hope #resist

Remember when “Dollar Shave Club” was going to disrupt the wasteful and overpriced men’s #shaving market? And then a billion dollars made them quietly go away?

Purchased for a billion on 2016. Sold for scrap to private equity at undisclosed terms in 2023. The price of maintaining a duopoly.

imd.org/research-knowledge/str

beautymatter.com/articles/nexu
#privateequity #monopoly

Public *
MistyCherry

“The #PrivateEquity firms invest in companies that are almost failing, and in order to make these #companies survive, they load them up with #debt,” said Postel-Vinay. “These loans end up being repackaged as well, a little bit like the junk mortgages before the 2008 crisis.”

“It’s a game of whack-a-mole. You regulate stuff, but then the #financial system finds ways around the regulation very quickly,” Postel-Vinay said.

theguardian.com/business/2024/

The Guardian · Remember the global financial crisis? Well, high-risk securities are backBy Kalyeena Makortoff
#economy#uk#depression
Public
Dave Rahardja

Another consolidation: #Bose buys #McIntosh audio. I hate it.

“McIntosh was previously owned by Highlander Partners, a Dallas-based private equity firm.” I’m sure the purchase by #privateEquity has something to do with it. Every business sold to private equity soon dies or is sold for parts.

cnbc.com/2024/11/19/bose-buys-

CNBCBose buys McIntosh, storied maker of high-end luxury audio equipmentMcIntosh has been making high-end amplifiers and other audio equipment since 1949, and one of its devices can cost tens of thousands of dollars.
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