this post was submitted on 06 Dec 2024
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Blackstone is a big money company specialized in leveraged buyouts. Leveraged buyout is the nice word for hostile takeover. They buy companies, fire everyone, sell everything that isn't bolted to the wall and then sell the building and dissolve the company.
It's very profitable and terrible for the workers. But you gotta have big big money to play their game.
I can’t believe I haven’t heard of them. I’ve heard of the concept though. Isn’t that what mitt Romney was up to with Bain capital?
Damn right, I thought about mentioning Mittens at the end but I didn't want to dilute the post.