Carrion Crows 2
Peter Whoriskey explains the hedge fund buy-out con and how it stiffs honest working persons. A snippet:
The anger arises because although the sell-off allowed Sun Capital and its investors to recover their money and then some, the company entered bankruptcy leaving unpaid more than $80 million in debts to workers’ severance and pensions.
For Sun Capital, this process of buying companies, seeking profits and leaving pensions unpaid is a familiar one. Over the past 10 years, it has taken five companies into bankruptcy while leaving behind debts of about $280 million owed to employee pensions.
January 2, 2019 at 5:10 pm
Vulture capitalism is perhaps a better title.
January 3, 2019 at 9:11 pm
Perhaps, for that is what it is, but I like the imagery of “carrion crows,” for that is what they are.
Great comment. Thank you.