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.
... while many workers struggle to afford the basics of life, let alone "luxuries" like a night out. This hurts them, but also the businesses who sell those things. The grocery stores throwing out unsold food. The cinemas screening films to 2 people per session.
This is what happens when economies don't redistribute enough money to workers. Living standards of drop, and productive businesses suffer.
"Sun Capital - a #PrivateEquity firm - bought up ShopCo and then required ShopCo to sell all of its physical stores and then lease the stores back in perpetuity. Now you can see how that would make a lot of sense if you're a short term investor; you get the initial pop of the sale. But it's tough for the long term investor, because it used to have assets that it could rely on, now it's saddled with these long term lease obligations..."
Vets fret as private equity snaps up clinics, pet care companies
"As pet ownership soared during the COVID-19 pandemic, private equity followed close behind. The pandemic years of 2020-2022 were 'the peak years for private equity acquisitions of veterinary services and practices' [...]
"Stephen Schwarzman’s income from Blackstone Group fell below $1bn in 2023, a decline of more than 30 per cent from the previous year, as a slowdown in dealmaking made it harder for the world’s largest private equity group to sell investments for a profit"
"I'm A Doctor: Corporate Greed Is Killing Your ER" https://www.youtube.com/watch?v=8KZkEv1CHgE
Private equity is swallowing up America's emergency rooms. 1 in 4 ERs are now staffed by private equity-based firms. The waits are longer, the bills are higher, and ER doctors are being replaced by lower-paid contractors. #healthcare#privateequity#socialjustice
After CARD was acquired by the Blackstone Group, Richard said she began to see troubling changes in staffing...
Many of the cos. swarming the autism services IDU are backed by PE firms. The IDU has taken over a vast array of HC bus' in recent years, even as research has shown that patient care declines at some entities run by PE firms. A recent study -found: patients at hospitals owned by PE firms experienced far more infections & falls. https://www.nbcnews.com/health/health-care/card-blackstone-kids-autism-private-equity-bankruptcy-rcna118544