Republicans at the federal & state level, are destroying democracy & Americans' future finances & well-being:
"Two Trump judges & a Bush judge in the 5th Circuit just ruled that private equity gets to steal your pension, lying about private equity returns in the process."
M Stoller
A fed appeals court struck down the US SEC’s rules requiring hedge funds & private equity firms to detail quarterly fees & expenses to investors.
Private-Equity-Branche in Berlin: Steigende Mieten, Spitzen-Renditen
In dieser Woche treffen sich Tausende Akteure des privaten Finanzkapitals in Berlin. Die sogenannte Private-Equity-Branche sucht weltweit renditeträchtige Anlagen. Dazu gehört: der Berliner Wohnungsmarkt. Von Bianca von der Au.
"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...