Working for firms owned by private-equity moguls can mean lower wages

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Heavy debt loads, combined with pressure to flip acquired companies quickly, increases the likelihood that private-equity firms will have to cut costs in the operations that they buy. Often, the first to the chopping block is the company’s workforce.

Outside investors, such as public pension funds and endowments, pour money into these takeover deals in the hopes of generating high returns. But recently, as the stock market has roared, outsize returns in private equity have all but vanished, academic studies show, and they are now in line with overall market performance.

Last year, the Federal Reserve Board launched an unprecedented $750 billion program to prop up the corporate bond market, where many of these firms raise money for their buyouts. Among the bonds purchased by the Fed, documents show, were those issued by Blackstone and another private-equity giant, Apollo Global Management, founded by Leon Black.

Roark is named for the libertarian protagonist in “The Fountainhead” by Ayn Rand, whose life “exemplified the qualities of independence and integrity,” the company’s website said. Inspire Brands has also worked to battle the Raise the Wage Act, which has been introduced in Congress every year since 2017 and would increase the federal minimum wage to $15 an hour among workers like Roberts. In March, Inspirehighlighting its lobbying success in opposing the change.


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And this is why capitalism is bullshit

Unite for small businesses, so they can focus on the business at hand.......

Vulture capitalists

Are you a chopped one? Amen

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