This one really bugs me. I worked for a company that got bought out by private equity. They sold most of the real estate that the company owned to a company that the same private equity people owned, and then made the stores pay exorbitant rent for the property the used to own. Meanwhile, they sold pieces of the company until there was nothing left, and then closed all the stores. Thousands of people lost their livelihoods.
Employees should be able to sue for future lost earnings. I’d like to see a court use prior financials as a basis then calculate how much employees would make for 30 years if management changed nothing.
Private equity buying up something and running it to the ground to sell for parts.
I don’t think it’s possible to criminalize it nor do I think that it’s the worse thing out there, but I think it should be illegal
This one really bugs me. I worked for a company that got bought out by private equity. They sold most of the real estate that the company owned to a company that the same private equity people owned, and then made the stores pay exorbitant rent for the property the used to own. Meanwhile, they sold pieces of the company until there was nothing left, and then closed all the stores. Thousands of people lost their livelihoods.
Employees should be able to sue for future lost earnings. I’d like to see a court use prior financials as a basis then calculate how much employees would make for 30 years if management changed nothing.
Unfortunately, standard playbook. Enraging
Can’t remember the law, but something happened in 80s America that kicked this off.