Read about True Value hardware declaring bankruptcy today: https://finance.yahoo.com/news/true-value-declares-bankruptcy-sells-174128698.html
Which seemed odd to me, as they've been around for long time selling low-priced items.
It took me exactly one search to find perhaps another reason beyond the claimed "the housing market stalled and consumers have become far more picky about discretionary purchases like hardware” for the news:
Private Equity sucks the life out of every company it touches. Fucking parasites.
@sabbatical @ducksauz @mweagle
Would anything be lost if PE’s business model was outlawed?
@Jackiemauro a lot of cocaine dealers might have to get a side gig to make ends meet.
@Jackiemauro @womble i wonder if you could outlaw private equity without outlawing some basic tenet of how private business works that would make it unenforceable. would genuinely be interested in how this would work from a policy/legal perspective. could make a big difference if it was possible — somebody’s prob thought it through!
@sabbatical @Jackiemauro for starters, you could stem the tide of PE firms bleeding acquisitions dry with excessive "management fees" by making payments to related entities non-deductible. As a bonus, that would also largely kill off the offshore tax sheltering scam. Whether dodging taxes is a "basic tenet of how private business works" is a question left to the reader.
@womble @Jackiemauro ah interesting. would that need some mechanism for differentiating from “legit” payments for service? (eg. paying a co to maintain your website or clean your boots, for example)
