THE MORNING RANT: Wealth Extraction – It’s What Socialists and the “Financialize Everything” Capitalists Have in Common

Free enterprise creates wealth. By contrast, socialism extracts wealth, destroying the institutions that created the wealth. It is extremely unhelpful in our battle against socialism, however, that an ascendant business class of financial raiders, who argue that they are free market capitalists, are doing the same thing as socialists – extracting wealth and leaving in their wake the ruins of the institutions that created the wealth.

There was an excellent essay a few days ago from Annang Mittal at the Daily Wire addressing this problem. He discussed how the plunderers who capture private sector wealth, without doing any wealth creation of their own, have “done more to discredit free enterprise than Bernie Sanders ever has.” That piece is linked below, along with a few pull quotes.

This is another of those horseshoe issues, where the extremes of both left and right nearly meet. The Private Equity Bros and the Bernie Bros both look at the wealth of a business and dream of extracting it for their own enrichment.

I’d also add that it is not just private equity that is raiding the capital of businesses. Much of corporate America’s executive class has embraced an ethos in which headcount is slashed, product quality is diminished, and customers are subject to deceptive revenue-mining practices. This may produce a short-term spike in profit and stock price, but it also results in long-term degradation to the revenue flow and equity of the business, as disaffected customers never return. When the dust settles, the net result is that capital has simply been extracted from the corporation, with much of it flowing into the pockets of those executives who enacted those short-sighted actions.

There are many “capitalists” who feel that any criticism of private sector wealth extractors is a criticism of the free market itself. It’s not. We defenders of free markets have an obligation to condemn those who give it a bad name so as to lessen the appeal of socialism. If a private equity firm looks at a company like Toys R Us or Joann Fabrics and decides to extract its wealth in a manner that leads to the company’s bankruptcy, why shouldn’t Bernie’s acolytes decide that they too should get in on the action?

Don’t forget, just as private wealth extraction can occur under the umbrella of capitalism, socialism can be voted in under the umbrella of democracy. If we’re supposed to accept the legitimacy of equity raiders because we’re pro-capitalism, then shouldn’t we also accept socialism as being legitimate too because we’re pro-democracy? The answer is “No.” We should reject all destructive wealth extractors, be they on the left or the right. Both deserve disapprobation.

Here is the link to the Daily Wire article I referenced. I encourage you to read the whole thing: “What Happened When Capitalism’s Worst Salesmen Tried Selling the American Dream; Private equity and rent-seeking discredited the free market” [Anang Mittal – Daily Wire – 10/13/2026]

That is why so many in the heartland voted for populism, and why a growing number of young Americans have turned to socialism. Americans have stopped believing either party’s promises of economic renewal. Rent-seeking, getting rich by capturing wealth but not creating it, has done more to discredit free enterprise than Bernie Sanders ever has. Generations watched plants move overseas, communities disappear, and watched financiers strip what remained. When people hear “the free market,” they hear “the fix is in.” Private equity did not stay in manufacturing either. It soon entered healthcare, retail, and food service, jobs that seemed safe because they couldn’t be shipped overseas.

Mr. Nittal also discusses the pattern of unloading debt via bankruptcy and offloading to taxpayers the pension burdens of now-failed companies after all sources of cash have been extracted. Nothing says “free market” quite like pawning off a plundered company’s pension obligations to the federal government:

The federal pension insurer took over the workers’ pension plan and released Cerberus from future claims in exchange for about $900,000. When Anchor was auctioned off in 2007, Cerberus walked away clean, but the workers’ pensions became the government’s problem.

That is the play. Buy the company. Borrow against it. Pay yourself first, and offload the liabilities on the public.

When an owner borrows against a business it bought and pays itself from the loan, that’s extraction. The debt is slapped onto the original business, as happened at Anchor. The business services its debt by delaying repairs, laying off workers, or cheapening the product. Eventually the customers leave and the business stops paying, so the owner shuts the business down and sells off the remaining assets. Toys R Us was bought with borrowed money in 2005 and liquidated in 2018, costing about 33,000 American jobs. Red Lobster’s 2014 buyout was financed by selling 500 of its own buildings, and when it went bankrupt in 2024 under a different owner, it was still paying rent on property it used to own. Few Americans could have named the companies that gutted these household brands.

I would rather entrepreneurs build high-speed rail, nuclear reactors, battery plants, and semiconductor fabs than find another ingenious scheme for converting a Red Lobster or a dentist’s office into a higher-yielding financial asset.

We free marketeers understand that creative destruction will render some businesses unviable and some industries obsolete. But those engaging in wealth extraction are not creative destructors. They’re destructive parasites.

[buck.throckmorton at protonmail dot com]

Posted by: Buck Throckmorton at 11:00 AM

Comments

(Jump to bottom of comments)

1 Yep

Posted by: Mr Aspirin Factory at October 19, 2026 11:00 AM (8B4gm)

2 Or wealth destruction

Posted by: Lizzy at October 19, 2026 11:00 AM (rOKnE)

3 FIRST!!!!!

Posted by: Sponge - F*ck Cancer at October 19, 2026 11:01 AM (ccf/V)

4 Nood'd

Posted by: Mr Aspirin Factory at October 19, 2026 11:02 AM (8B4gm)

5 >>This may produce a short-term spike in profit and stock price, but it also results in long-term degradation to the revenue flow and equity of the business, as disaffected customers never return.

Exhibit A: Panera Bread Co - their sandwich fillings have been "fun-sized" while prices have doubled, and you have to use a screen to enter your order.

#HellNo

Posted by: Lizzy at October 19, 2026 11:02 AM (rOKnE)

6 Liberal billionaires want to pull the ladder up behind them and make it so no one will have opportunity to become billionaires themselves so they stay in power over the masses.

The main one that doesn't appear to think this way is Musk. As goofy as that f*cker is, he's an amazing breath of fresh air in a shit environment.

Posted by: Sponge - F*ck Cancer at October 19, 2026 11:03 AM (ccf/V)

7 This is another of those horseshoe issues, where the extremes of both left and right nearly meet. The Private Equity Bros and the Bernie Bros both look at the wealth of a business and dream of extracting it for their own enrichment.
=====

Carl Icahn did it for the puppies!

Posted by: San Franpsycho at October 19, 2026 11:03 AM (RIvkX)

8 Exhibit A: Panera Bread Co - their sandwich fillings have been "fun-sized" while prices have doubled, and you have to use a screen to enter your order.

#HellNo
Posted by: Lizzy

Their food is crap.

Posted by: Mr Aspirin Factory at October 19, 2026 11:04 AM (8B4gm)

9 Exhibit A: Panera Bread Co - their sandwich fillings have been "fun-sized" while prices have doubled, and you have to use a screen to enter your order.

#HellNo
Posted by: Lizzy at October 19, 2026 11:02 AM (rOKnE)

The incredible amounts of gas I get from their food means I'll never go there, so for them, I have no f*cks to spare.

Posted by: Sponge - F*ck Cancer at October 19, 2026 11:04 AM (ccf/V)

10 6S to sucess.

Posted by: Reforger at October 19, 2026 11:04 AM (Ae6Br)

11 Ok. Off to week two of the move.

Be excellent to each other. Thank you all for such an amazing weekend, yet again.

Ridicule Paul and Sid for they are worthy.

I love you all.

Posted by: Sponge - F*ck Cancer at October 19, 2026 11:05 AM (ccf/V)

12 Michael Milken did it for the cancer research!

Posted by: San Franpsycho at October 19, 2026 11:07 AM (RIvkX)

13 There are a couple of movies, both from 1954, that eloquently illustrate what true benevolent capitalism does for society. They are Sabrina, and Executive Suite. In Sabrina, Humphrey Bogart explains to his brother William Holden why he is pursuing a particular corporate merger. It is one of the most concise descriptions of how capitalism can create wealth and improve overall well being.

Posted by: MichiCanuck at October 19, 2026 11:07 AM (sRXLy)

14 >>Private equity did not stay in manufacturing either. It soon entered healthcare, retail, and food service, jobs that seemed safe because they couldn’t be shipped overseas.

Also now veterinary clinics.

Last year my long-time vet left the clinic (which is affiliated with a national chain), went to a different vet (then noticed all the vets had been replaced), where she ordered a whole bunch of tests and prescribed three medications. When my sweet dog had a poor reaction to one of them, they offered a 4th prescription med that was created to deal with these awful side effects + OTC melatonin so he could sleep again. WTF?
It all felt scammy and I found a new vet.

Posted by: Lizzy at October 19, 2026 11:07 AM (rOKnE)

15 I have mixed emotions about private equity. Let’s discuss Red Lobster. The food was not good. Not when it fell under the same umbrella as Olive Garden, not ever. If your product is yucky, it probably won’t last.

I am not a chain restaurant person to start, I will admit this from the outset. But Red Lobster would have probably shrunk no matter who owned it.

Posted by: Piper at October 19, 2026 11:07 AM (ZdaMQ)

16 I still struggle to comprehend how/why bankrupt K-Mart was able/allowed to buy/acquire asset rich Sears ... but both are dead now (afaik).

Posted by: illiniwek at October 19, 2026 11:07 AM (vbXSk)

17 Greed Is Good.

Posted by: Gordon Gekko, Boomer at October 19, 2026 11:07 AM (JAh4c)

18 To Panera's credit, they did listen to the complaints and are making some effort to turn back.

And the one nearest to my house actually started cleaning things up.

Posted by: NR Pax at October 19, 2026 11:08 AM (RjOoY)

19 Ima try that again.

6S to success.
Sort
Something
Shit
Sucks
Slack
Sleep

Posted by: Reforger at October 19, 2026 11:08 AM (Ae6Br)

20 Mr. Nittal also discusses the pattern of unloading debt via bankruptcy and offloading to taxpayers the pension burdens of now-failed companies after all sources of cash have been extracted. Nothing says “free market” quite like pawning off a plundered company’s pension obligations to the federal government:
That is the play. Buy the company. Borrow against it. Pay yourself first, and offload the liabilities on the public.

I think there should be two changes made:
1) Completely separate the fiduciary interests of the company from that of the pension fund. Too often, the company made decisions (like underfunding the pension fund, or using its funds for risky, self-interested investments), and
2) Get the government the hell out of any pension backstopping. This could only happen once 1) has been implemented. As things stand, unions have no incentive not to pillage the companies where their workers work. As it is, they're perfectly willing to make company-killing demands because of short-term thinking that pleases their workers, but is not long-term viable. See the US steel and auto industries.

Posted by: Archimedes at October 19, 2026 11:08 AM (Riz8t)

21 I like Panera. The local one I go to is pretty nice.

Posted by: tubal at October 19, 2026 11:09 AM (Gqar8)

22 Now do Buc-ee's.

Posted by: Nugget Lover at October 19, 2026 11:09 AM (uGZRR)

23 "Anna Ng and we are getting old and we still haven't walked in the glow of each other's majestic presence..."

Posted by: Mark Andrew Edwards, buy ammo at October 19, 2026 11:10 AM (s1VwS)

24 I am not a chain restaurant person to start, I will admit this from the outset. But Red Lobster would have probably shrunk no matter who owned it.

I'm the same, but then, I can afford to eat in better restaurants. I suspect you can too. People who can't, apparently like some of the chains.

Posted by: Archimedes at October 19, 2026 11:10 AM (Riz8t)

25 >>The incredible amounts of gas I get from their food means I'll never go there, so for them, I have no f*cks to spare.

I used to go regularly because there was one in a great spot convenient for meeting with family, with menu options for all. Started going downhill before covid, but after I went once and decided: never again.

Posted by: Lizzy at October 19, 2026 11:10 AM (rOKnE)

26 Thanks Buck.

Tangentially related to this, the Canadian Trade War on the US is going swimmingly. Your suffering will continue.

Stelco, a GIANT steel producer here in Ontario, plans on cutting 500 jobs because these people aren't needed anymore. The Canadian government was actually talking about taking legal action against the company.

Apparently the company is supposed to pay their workers and suppliers with pretty pink 'Thank you' notes with hearts and unicorn stickers.

Oh, AND THE BEST. Ontario just signed a 6 month deal to buy electricity from the United States after fat asshole ford threatened to cut the US off. I hope President Trump finds a reason to cancel this or slap on 1000% tariffs. I live here but we need to be punished.

Posted by: Stateless - Ralphy - 106 years old! Puppy at heart! at October 19, 2026 11:11 AM (Sco7b)

27 I hate finding myself in agreement sometimes with "late stage capitalism" type rants, but I definitely think these things can mutate to where it's an issue that needs government regulation.

Private equity in general is a huge net negative for society and would agree its done more to undermine the case for free markets than any socialist ever has.

Posted by: Sharpie at October 19, 2026 11:11 AM (xPB61)

28 Panera isn't about food. It's about atmosphere and WiFi.
And mediocre coffee.

Posted by: Quarter Twenty at October 19, 2026 11:12 AM (uGZRR)

29 28 Panera isn't about food. It's about atmosphere and WiFi.
And mediocre coffee.
Posted by: Quarter Twenty at October 19, 2026 11:12 AM (uGZRR)

Better, or worse, than Starbucks?

Posted by: tubal at October 19, 2026 11:12 AM (Gqar8)

30 The incredible amounts of gas I get from their food means I'll never go there, so for them, I have no f*cks to spare.
Posted by: Sponge
__________

The turkey chili is still pretty good. Sandwich quality has gone to shit.

Posted by: Biff Pocoroba at October 19, 2026 11:13 AM (JzUSu)

31 Now let’s do toys R Us. Many brick and mortar’s died out because people stopped going to brick and mortar. Covid really put the nail into this coffin, maybe even more than Amazon, said with zero scientific basis beyond my gut. Toys r us always felt like a warehouse so I never liked it to start. I can’t be the only one.

Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.

Posted by: Piper at October 19, 2026 11:13 AM (ZdaMQ)

32 I hate finding myself in agreement sometimes with "late stage capitalism" type rants, but I definitely think these things can mutate to where it's an issue that needs government regulation.

Private equity in general is a huge net negative for society and would agree its done more to undermine the case for free markets than any socialist ever has.

Sometimes it is. Often, it's a way for an underperforming company to have its assets redistributed to more economically worthwhile pursuits.

Greed, for lack of a better term, is good (sometimes).

Posted by: Archimedes at October 19, 2026 11:13 AM (Riz8t)

33
So THAT'S why Ruger is discontinuing most of their product line after Beretta bought them out.

Posted by: IllTemperedCur at October 19, 2026 11:14 AM (iqcvy)

34 The tweet linked on X by Insty:

Some shitbag whining that, "under capitalism, food is only produced for profit."

Response is the meme of Johnny Depp pirate "ah, but it is being produced."

And profit means it has to be sold.
And distributed.
To those most willing to pay.
An efficiency that is proven tens of millions of times every single day, witnessing every year records for the least number of people in history in absolute poverty and want, enjoying daily luxuries kings only dreamed of, while marxism has never been proven even once in any way or form.

Posted by: People's Hippo Voice at October 19, 2026 11:14 AM (3cUTc)

35 #16 The Kmart/Sears was exactly what I was thinking.

Also, Bill Ackerman (I believe) was pressuring McDonald's back in the day to sell the locations it owned and lease them back. Why? Instant dividends now, taxes lower in the future because lease payments reduce taxable income, and then earnings per dollar in assets is higher, which can juice executive bonuses. Oh, yes, and the company buying the properties were another one of his companies.

Sure, you're condemning the company to a permanent expense that it didn't have before, which could cause future financial problems, but you get to pay yourself cash, collect the rent from the properties you now own, and if the company goes belly up (a la Sears and Kmart), you own the land and can find another tenant or sell it to a developer.

Posted by: Virginia SoCon at October 19, 2026 11:14 AM (P9Ea3)

36 >It all felt scammy and I found a new vet.

My local vet was a legend around here. He knew everyone's pet like they were his children. He'd come to your home when it was that time rather than make their last minutes in a cold clinic.

When he retired his business was sold to the national chain buying vet practices across the country. Fees have increased, care has gone the other way.

McVet. Millions served.

Posted by: JackStraw at October 19, 2026 11:14 AM (viF8m)

37 31 Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.

Posted by: Piper at October 19, 2026 11:13 AM (ZdaMQ)

========

Musk started making noises about building an alternative to Amazon because Amazon blocked GrokBot from buying things on the platform.

We'll see.

Posted by: TheJamesMadison, precisely framed and deadpan with Wes Anderson at October 19, 2026 11:14 AM (+B3Bm)

38 >>Better, or worse, than Starbucks?

Better because the shops are bigger and they typically have some booths in addition to tables. Used them a couple times when I was working from home and had to meet with a colleague or when the power went out.

Posted by: Lizzy at October 19, 2026 11:15 AM (rOKnE)

39 31

Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.
Posted by: Piper at October 19, 2026 11:13 AM (ZdaMQ)

Probably. But they have, get this, the product I look for most all the time.

Posted by: tubal at October 19, 2026 11:15 AM (Gqar8)

40 Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.

People used to think that Sears was so big it could never be overtaken. I suspect something similar could happen to Amazon.

Posted by: Archimedes at October 19, 2026 11:15 AM (Riz8t)

41 Posted by: Lizzy at October 19, 2026 11:07 AM (rOKnE)

My Vet got bought up by a chain too. Nobody is the same now. We used to be on a first name basis with most there. We knew the old owner for years personally and now she only contracts for surgeries. Lives out of staye. Another Gen Xer mostly retired years before needed as she now has FU money.
I so envy her.

Posted by: Reforger at October 19, 2026 11:15 AM (Ae6Br)

42 40 Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.

People used to think that Sears was so big it could never be overtaken. I suspect something similar could happen to Amazon.
Posted by: Archimedes at October 19, 2026 11:15 AM (Riz8t)

I truly hope someone ( not China ) comes along to compete with Amazon. Good news for us plebes.

Posted by: tubal at October 19, 2026 11:16 AM (Gqar8)

43 >>Also, Bill Ackerman (I believe) was pressuring McDonald's back in the day to sell the locations it owned and lease them back. Why? Instant dividends now, taxes lower in the future because lease payments reduce taxable income, and then earnings per dollar in assets is higher, which can juice executive bonuses.

Pretty sure that is now SOP. They did this with Joanne Fabrics, which of course helped kill it.

Posted by: Lizzy at October 19, 2026 11:16 AM (rOKnE)

44 31 Now let’s do toys R Us. Many brick and mortar’s died out because people stopped going to brick and mortar. Covid really put the nail into this coffin, maybe even more than Amazon, said with zero scientific basis beyond my gut. Toys r us always felt like a warehouse so I never liked it to start. I can’t be the only one.

Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.
Posted by: Piper at October 19, 2026 11:13 AM (ZdaMQ)

Toys R Us is now the equivalent of Spirit Halloween - it has outlets in cheap malls for 2 months of the year...which might be all that's needed for a toy market right now...

Posted by: Nova Local at October 19, 2026 11:17 AM (tOcjL)

45 People used to think that Sears was so big it could never be overtaken. I suspect something similar could happen to Amazon.
Posted by: Archimedes at October 19, 2026 11:15 AM (Riz8t)

And please Google.
And Meta.

Posted by: Stateless - Ralphy - 106 years old! Puppy at heart! at October 19, 2026 11:17 AM (Sco7b)

46 Musk started making noises about building an alternative to Amazon because Amazon blocked GrokBot from buying things on the platform.

We'll see.
Posted by: TheJamesMadison, precisely framed and deadpan with Wes Anderson at October 19, 2026 11:14 AM (+B3Bm)
---
If Musk builds his own version (with hookers! and blackjack!) he might become the first quadrillionaire in history...

Posted by: "Perfessor" Squirrel at October 19, 2026 11:17 AM (FZ29D)

47 Better, or worse, than Starbucks?
Posted by: tubal at October 19, 2026 11:12 AM

Panera coffee is better than FourBucks, and it's unlimited.
The appeal to me is I can sit there for three hours and work on my laptop in a pleasant atmosphere. Their salads are fine. Expensive now, but that's Bidenflation

Posted by: Quarter Twenty at October 19, 2026 11:17 AM (uGZRR)

48 And I apologize for not catching the apostrophe s on what is supposed to be a plural word in my 31. How annoying

I honestly feel like our focus needs to be on the return of manufacturing here if we want to discuss jobs and recreating the strength of America Past.

Posted by: Piper at October 19, 2026 11:17 AM (ZdaMQ)

49 The left is very good at some things; killing their opponents for one.

But they're also very good at creating, holding, and perpetuating a narrative.

Posted by: Martini Farmer at October 19, 2026 11:17 AM (RORbl)

50
Any schmoe can peddle mediocre coffee.

Starbucks aspires to rise to the level of mediocre coffee.

Posted by: Krebs v Carnot: Epic Battle of the Cycling Stars (TM) Deport! Deport! Deport! at October 19, 2026 11:17 AM (trSL4)

51 16 I still struggle to comprehend how/why bankrupt K-Mart was able/allowed to buy/acquire asset rich Sears ... but both are dead now (afaik).
Posted by: illiniwek

Hedge fund manager borrowed money to buy Sears after he bought the bankrupt K Mart and relied on the using the underlying real estate owned by both corporations as collateral and then promptly ended up stripping Sears of assets with him putting the good assets like real estate etc under his control while progressively gutting the retail business.

Private equity is simply a means to get the equity a short term gain while destroying the business long term to get it. Same thing happened to ToysrUs. And Red Lobster, etc. where the underlying land and buildings are acquired by the equity and then the poor current franchise owner has to pay more and more exorbitant rent to the equity owner. And the franchisees fail because something has to give.

Posted by: whig at October 19, 2026 11:17 AM (E4rtv)

52 I have mixed emotions about private equity. Let’s discuss Red Lobster. The food was not good. Not when it fell under the same umbrella as Olive Garden, not ever. If your product is yucky, it probably won’t last.

Posted by: Piper at October 19, 2026 11:07 AM (ZdaMQ)
_____

PE does two things:

1. PE provides early funding for almost all start-ups at a time when investing is very risky. Without PE and VC, there would little to no early investment and the capitalism that we all like wouldn't exist.

2. PE extracts the remaining value out of failed or failing companies. Successful companies continue to grow and expand, creating wealth for their shareholders and value for their customers. Failed or failing companies have already lost their customer base, and are prime targets for PE.

Mr Mittal is clearly butthurt, but he's not correctly diagnosing the problem. Check is resume: a "public affairs professional" and staffer for Mitch McConnell.

Posted by: Elric The Blade at October 19, 2026 11:18 AM (iFTx/)

53 Very good essay. I had not thought of the capitalist parasites as peas in the same pod of socialist parasites.

Posted by: B. Hammer at October 19, 2026 11:18 AM (caaaz)

54 Another example of PE screwing a company up: Duke Cannon. For those unfamiliar - they make soap. Used to be big bricks of soap. Scents were neat, their packaging was awesome and they donated a percent of profits to military support.

Enter Private Equity. Bricks of soap are now (much smaller) hockey pucks. Scents are all changed. The cool packaging is now replaced with two color (cheaper) branding that doesn't make the product stand out amongst peers any more. And they're losing customers, including me.

Posted by: Our Country is Screwed at October 19, 2026 11:19 AM (N39Ws)

55 A guy in my neighborhood was a serial starter of plumbing and HVAC businesses. He wasn't the cheapest, but his people did excellent work, and there was no upselling.

Groups of investors kept buying him out, and they'd try to cut costs and engage in relentless upselling to make a profit. Guess what happened to the formerly loyal customer base.

Then, the guy would start another company. Rinse and repeat. He's quite well off.

Posted by: Archimedes at October 19, 2026 11:19 AM (Riz8t)

56 >>Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.

Yeah, you can get same-day or next day delivery now from a lot of places, such as Target and Walmart. I now tend to do online shopping with local businesses that offer it (e.g. independent hardware store) and then pick up.

And get this: they sell brands that are recognizable, not allcaps nonsense word ones that are obviously Chinese that now dominate Amazon.

Posted by: Lizzy at October 19, 2026 11:19 AM (rOKnE)

57
Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect.

Forget it, Jake -- it's chinesium all the way down.

Posted by: Krebs v Carnot: Epic Battle of the Cycling Stars (TM) Deport! Deport! Deport! at October 19, 2026 11:20 AM (trSL4)

58 Wallymart is the new Amazon.
Cool tip. I recently learned how you can use the phone app to make the shelf tag light flash of the item you're looking for.
Is this a great country, or what?

Posted by: Quarter Twenty at October 19, 2026 11:20 AM (uGZRR)

59 >>Greed, for lack of a better term, is good (sometimes).

I'm on my 6th and last startup.

I'd venture, see what I did there?, to say most people have no idea what the private equity market is all about.

Posted by: JackStraw at October 19, 2026 11:20 AM (viF8m)

60 Pretty sure that is now SOP. They did this with Joanne Fabrics, which of course helped kill it.
Posted by: Lizzy at October 19, 2026 11:16 AM (rOKnE)

I'm sure it's taught in all the right MBA programs, the ones attended by silver spoon, Massachusetts prep school attendees who went to the Ivy League for undergrad and whose only experience with financial hardship was when they were told that they had to wait another month or two before Mommy and Daddy would lease them the next BMW.

Posted by: Virginia SoCon at October 19, 2026 11:20 AM (P9Ea3)

61 Hedge fund manager borrowed money to buy Sears after he bought the bankrupt K Mart and relied on the using the underlying real estate owned by both corporations as collateral and then promptly ended up stripping Sears of assets with him putting the good assets like real estate etc under his control while progressively gutting the retail business.

Private equity is simply a means to get the equity a short term gain while destroying the business long term to get it.

I think that was the plan all along. Sears was a dead store walking long before then. You have to know when to fold 'em.

Posted by: Archimedes at October 19, 2026 11:22 AM (Riz8t)

62 Exhibit A: Panera Bread Co - their sandwich fillings have been "fun-sized" while prices have doubled, and you have to use a screen to enter your order.

This is usually a sign that the end is nigh. I've seen it happen to other restaurants.

But it's not like this is just a poor management problem. Restaurants have lived in the same economy as the rest of us over the last several years: high inflation, increased costs. Add in the complete unreliability and revolving door that is the service industry. I'm surprised that more restaurants have not gone under.

Posted by: it puts the lotion in the basket at October 19, 2026 11:22 AM (xEhzD)

63 >>My Vet got bought up by a chain too. Nobody is the same now. We used to be on a first name basis with most there. We knew the old owner for years personally and now she only contracts for surgeries. Lives out of staye.

Dang, it stinks, doesn't it?

Posted by: Lizzy at October 19, 2026 11:23 AM (rOKnE)

64 Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.
Posted by: Piper at October 19, 2026 11:13 AM (ZdaMQ)

I have a Prime membership. On of the draws was free 24-hour shipping. Now I can get products I order between 4 hours and 4 weeks, depending on where the mini seller is.

And you can't see where the products come from so you end up with cheap knockoff crap.

Posted by: I used to have a different nic at October 19, 2026 11:23 AM (ExV1e)

65 I used to be a thing.

Posted by: Boston Market at October 19, 2026 11:23 AM (uGZRR)

66
And get this: they sell brands that are recognizable, not allcaps nonsense word ones that are obviously Chinese that now dominate Amazon.
Posted by: Lizzy

Wut?

-- TEMU Obama, House Minority Leader

Posted by: Krebs v Carnot: Epic Battle of the Cycling Stars (TM) Deport! Deport! Deport! at October 19, 2026 11:23 AM (trSL4)

67
I get the feeling that Amazon as a global retail marketplace was just at temporary thing by design. A way to build up cash just to finance the behind-the-scenes tech services like AWS, as well as all the other "serious" businesses in the Amazon empire.

Posted by: IllTemperedCur at October 19, 2026 11:25 AM (iqcvy)

68 Meh, this is one of the topics I enjoy the least around here. These alleged "wealth raiders" do everything they do with the full blessing of the SEC and other regulatory bodies, and the ones that don't end up with executives doing time and paying significant fines. Bad management comes in a variety of flavors, and this "lets blame Bain Capital for everything" gets old quickly.

Posted by: Crusader at October 19, 2026 11:25 AM (TN0g+)

69 The problem with the world is that it just doesn’t live up to my expectations.

Posted by: tubal at October 19, 2026 11:26 AM (Gqar8)

70 The beauty of quick shipping is waning.

Is it, though? *skeptical Thor look*
I haven't shopped in a BAM store in years, with the minor exception of a suit and Costco. I think there are many like me, perhaps more men than women, but still.

Posted by: Archimedes at October 19, 2026 11:26 AM (Riz8t)

71 Panera coffee is better than FourBucks, and it's unlimited.
The appeal to me is I can sit there for three hours and work on my laptop in a pleasant atmosphere. Their salads are fine. Expensive now, but that's Bidenflation
Posted by: Quarter Twenty at October 19, 2026 11:17 AM (uGZRR)

That was the draw for me. Coffee and a toasted bagel. Hard to screw that up. I always walked out of there feeling I got my money's worth..

Posted by: Joe Kidd at October 19, 2026 11:26 AM (08OqX)

72 2. PE extracts the remaining value out of failed or failing companies. Successful companies continue to grow and expand, creating wealth for their shareholders and value for their customers. Failed or failing companies have already lost their customer base, and are prime targets for PE.

Mr Mittal is clearly butthurt, but he's not correctly diagnosing the problem. Check is resume: a "public affairs professional" and staffer for Mitch McConnell.
Posted by: Elric The Blade
=====
Part two is bullshit. PE essentially is to arbitrage and privatize profits while socializing losses and has little to do with whether the business is profitable or not (fwiw, Toys r. Us and Sears both ran profits until taken over by PE same--they are rarely 'rescuers' of bad management but are in fact bad managers designed to extract money for their partners that destroy the long term viability of the business.

And nice lawyer trick of guilt by association. The source of the claim does not in fact have much to do with whether the truth is or is not verifiable by other means. And you know that.

Leveraging a company with massive debt is never a path to success--equity is, debt is not.

Posted by: whig at October 19, 2026 11:26 AM (E4rtv)

73 Another Gen Xer mostly retired years before needed as she now has FU money.

I believe that in modern parlance, anyone with a net worth over $20 is referred to as a boomer regardless of their age.

Posted by: I used to have a different nic at October 19, 2026 11:27 AM (ExV1e)

74 I just pay off executive retirement. Pyramid scheme top to bottom.

Posted by: Mervyns (aka Dayton Hudson) at October 19, 2026 11:27 AM (Ae6Br)

75 66 I used to be a thing.
Posted by: Boston Market at October 19, 2026 11:23 AM (uGZRR)
- - - - - - - - - -
And used to be staffed by Kat Timph!

Posted by: another anon at October 19, 2026 11:28 AM (4h45B)

76 73 66 I used to be a thing.
Posted by: Boston Market at October 19, 2026 11:23 AM (uGZRR)

They overexpanded. Now you can only find their products in grocery store freezers.
Posted by: Cow Demon at October 19, 2026 11:26 AM (3uYEC)

They got rid of the cinnamon apples as a side...that killed them long before overexpansion. Never remove the side that every mom got their young kid with their mac and cheese...b/c then you make yourself a place that doesn't get stopped at b/c grocery stores sell hot rotisserie chicken, just like you do...but those apples and mac and cheese as sides - damn! Good eating!

Posted by: Nova Local at October 19, 2026 11:28 AM (tOcjL)

77 Private equity has it's place. But too often you get the "Harvard MBA" types that come in, gut the product, culture, basically everything that made a company special - to save 15 cents on each piece produced.

Posted by: Our Country is Screwed at October 19, 2026 11:28 AM (N39Ws)

78 Speaking of local vs. chains, I know the owner of our local bagel shop. It does a great business, because it’s good, the people who own it are nice, the employees are nice, etc etc.

He just brought me their Bagel of the Week. Y’all. It’s a pumpkin shaped and flavored bagel with a little pretzel stem. It’s adorable. And delicious. It wasn’t taken out of cellophane and popped into a microwave. I am not anti-Starbucks completely, they provide local jobs, too. But they won’t ever match this quality of food.

Posted by: Piper at October 19, 2026 11:28 AM (ZdaMQ)

79 76 Another Gen Xer mostly retired years before needed as she now has FU money.

I believe that in modern parlance, anyone with a net worth over $20 is referred to as a boomer regardless of their age.
Posted by: I used to have a different nic at October 19, 2026 11:27 AM (ExV1e)

I think that is called envy and resentment.

Posted by: tubal at October 19, 2026 11:28 AM (Gqar8)

80 Ultimately they buy a company and fail to understand what made the brand work in the first place. See also Disney buying Lucasfilm.

Yup. See my #55. The investors often seem to think they're just so smart they'll automatically be able to find enough savings to justify the inflated price they paid for the asset. They are often very, very wrong, but then, it isn't my money (unless I'm on the hook for pensions and welfare).

Posted by: Archimedes at October 19, 2026 11:28 AM (Riz8t)

81 Mr Mittal is clearly butthurt, but he's not correctly diagnosing the problem. Check is resume: a "public affairs professional" and staffer for Mitch McConnell.
Posted by: Elric The Blade
=====
Part two is bullshit. PE essentially is to arbitrage and privatize profits while socializing losses and has little to do with whether the business is profitable or not (fwiw, Toys r. Us and Sears both ran profits until taken over by PE same--they are rarely 'rescuers' of bad management but are in fact bad managers designed to extract money for their partners that destroy the long term viability of the business.

And nice lawyer trick of guilt by association. The source of the claim does not in fact have much to do with whether the truth is or is not verifiable by other means. And you know that.

Leveraging a company with massive debt is never a path to success--equity is, debt is not.
Posted by: whig at October 19, 2026 11:26 AM (E4rtv)
_____

Tell me where on the doll the PE man touched you. Also tell me you know nothing about PE or finance, without telling me you know nothing about PE or finance .....

Posted by: Elric The Blade at October 19, 2026 11:29 AM (iFTx/)

82 I had AI summarize the Hudson Bay company. They literally owned 40% of Canada at one point.

The Hudson's Bay Company was founded in 1670 by royal charter from King Charles II, nearly 200 years before Canada became a country. At its height, its trading empire extended across approximately 8 million square kilometres of North America, encompassing an enormous portion of modern Canada. Its fur-trading operations relied heavily on Indigenous traders and their knowledge of the land.

In 1821, Hudson's Bay absorbed its greatest rival, the North West Company. In 1870, it surrendered its territorial rights to the Canadian government for £300,000 while retaining valuable land holdings. Over time, it transformed from a massive fur-trading enterprise into one of Canada's most recognizable department-store chains.

After 355 years, Hudson's Bay collapsed in 2025. Competition from Walmart, Costco and Amazon, declining department-store traffic, aging buildings, years of underinvestment and mounting financial problems contributed to its downfall. A company that once dominated trade across much of Canada couldn't survive modern retail competition.

Posted by: Stateless - Ralphy - 106 years old! Puppy at heart! at October 19, 2026 11:29 AM (Sco7b)

83 > Hedge fund manager borrowed money to buy Sears after he bought the bankrupt K Mart and relied on the using the underlying real estate owned by both corporations...
--------
The real estate is typically what's valuable, not the business. Chains, like Red Lobster or Olive Garden sometimes own the plot they're on. If not, and there's more money to be made selling, or rezoning the property then that's what the owner's gonna' do.

It's happening around here with some of the under performing retail stores and chain eateries.

Posted by: Martini Farmer at October 19, 2026 11:29 AM (RORbl)

84 >>Wallymart is the new Amazon.
Cool tip. I recently learned how you can use the phone app to make the shelf tag light flash of the item you're looking for.
Is this a great country, or what?

My parents would have groceries delivered by Walmart because shopping takes a lot of energy (lift/moving into cart, out of cart, into bags, back into cart, into car, out of car). The problem was almost always something or things were missing. Online resolution was difficult, so I figured out how to get in touch with a real person on the phone (clearly overseas) who would walk them through "returning" the items that were missing/stolen by the delivery person. It destroyed all convenience having to do this. Back to regular shopping.

Posted by: Lizzy at October 19, 2026 11:29 AM (rOKnE)

85 Companies come and go . Unless we allow monopolies , their success is ultimately controlled by the marketplace. If a private equity/raider destroys a successful business another one will take its place if the marketplace wants it.

Posted by: polynikes at October 19, 2026 11:29 AM (KC5Lt)

86 >>Meh, this is one of the topics I enjoy the least around here. These alleged "wealth raiders" do everything they do with the full blessing of the SEC and other regulatory bodies, and the ones that don't end up with executives doing time and paying significant fines. Bad management comes in a variety of flavors, and this "lets blame Bain Capital for everything" gets old quickly.

It's a bit of both.

Some companies are run poorly. Some in the PE market are every bit as bad if not worse.

Posted by: JackStraw at October 19, 2026 11:30 AM (viF8m)

87 69
Ultimately they buy a company and fail to understand what made the brand work in the first place. See also Disney buying Lucasfilm.
Posted by: Cow Demon at October 19, 2026 11:25 AM (3uYEC)

See also Disney buying every company it ever acquired.

Posted by: Our Country is Screwed at October 19, 2026 11:30 AM (N39Ws)

88 It's just a correction in the economy. If we lost a billlion in bitcoin that a deficit correction.

Posted by: Rev. Wishbone at October 19, 2026 11:31 AM (cJOax)

89 This. It is the move from viewing customers as consumers. You do not have to appeal to a consumer- just make it easier for them to consume.

The thing is, people are still customers. They still have a choice whether to buy your shitty product or not.

The corpro business school people started to drift toward viewing people as consumers and then the socialists/commies swooped in because that is where they live. You HAVE to listen to what I say, unlike Dad. See, I'm important!

Posted by: Aetius451AD at October 19, 2026 11:32 AM (Y/06r)

90 70 Meh, this is one of the topics I enjoy the least around here. These alleged "wealth raiders" do everything they do with the full blessing of the SEC and other regulatory bodies, and the ones that don't end up with executives doing time and paying significant fines. Bad management comes in a variety of flavors, and this "lets blame Bain Capital for everything" gets old quickly.
Posted by: Crusader

Debt leverage is not a good thing for any going concern just like for people. The same people decrying some student taking on 100-200k of debt are happy with a private equity firm doing the same multiple. Both are relying on gambling that they can make a lot of money---the pe firm by liquidation, the graduate by getting the golden ticket win. And both are using other people's money. Want a better outcome--get rid of corporate taxation of dividends, remove corporate deductions for interest on acquisitions which means stock is used instead, etc.

Firms using equity do better in downturns than any debt laden firm does because dividends can be suspended in bad times, interest payments generally cannot.

We need to move away from a debt society to an equity society.

Posted by: whig at October 19, 2026 11:32 AM (E4rtv)

91 90 69
Ultimately they buy a company and fail to understand what made the brand work in the first place. See also Disney buying Lucasfilm.
Posted by: Cow Demon at October 19, 2026 11:25 AM (3uYEC)

See also Disney buying every company it ever acquired.
Posted by: Our Country is Screwed at October 19, 2026 11:30 AM (N39Ws)

Not quite - Marvel was literally bankrupt and selling property rights left and right before Disney bought the carcass that was left and has spent years trying to Frankenstein back together...

Posted by: Nova Local at October 19, 2026 11:32 AM (tOcjL)

92 Ultimately they buy a company and fail to understand what made the brand work in the first place. See also Disney buying Lucasfilm.
Posted by: Cow Demon at October 19, 2026 11:25 AM (3uYEC)

See also Disney BURYING every company it ever acquired.
Posted by: Our Country is Screwed at October 19, 2026 11:30 AM (N39Ws)

FIFY.

Posted by: Aetius451AD at October 19, 2026 11:32 AM (Y/06r)

93 Cerberus and Remington firearms. Long story short, Cerberus borrowed a quarter of a billion dollars, put Remington's name on the paperwork, and walked away.

Posted by: Idaho Spudboy at October 19, 2026 11:32 AM (+ltn5)

94 Uh oh.

https://tinyurl.com/mtc22rx9

He not only did it, he did it big. Well, Massachusetts so it probably doesn't matter.

Posted by: Anonosaurus Wrecks, Up, Up, and Away! at October 19, 2026 11:33 AM (ndZc7)

95 Ultimately they buy a company and fail to understand what made the brand work in the first place. See also Disney buying Lucasfilm.
Posted by: Cow Demon

Some buy companies strictly to destroy the competition. E.g. Unilever buying and then selling Dollar Shave Club after gutting it. Google, IBM, etc. megacorps have done it--bought companies simply to destroy them because they were possible or actual threats to market control.

Posted by: whig at October 19, 2026 11:34 AM (E4rtv)

96 96 Cerberus and Remington firearms. Long story short, Cerberus borrowed a quarter of a billion dollars, put Remington's name on the paperwork, and walked away.
Posted by: Idaho Spudboy
=======
Yep and took local and state governments money while doing so. See Alabama and the Huntsville plant.

Posted by: whig at October 19, 2026 11:35 AM (E4rtv)

97 72 The beauty of quick shipping is waning.

Is it, though? *skeptical Thor look*
I haven't shopped in a BAM store in years, with the minor exception of a suit and Costco. I think there are many like me, perhaps more men than women, but still.
Posted by: Archimedes at October 19, 2026

On Amazon, you used to be able to get what you wanted the next day. Now many things are 2 and 3 days. I can order from somewhere else for that, know I am getting the real thing, and skip Amazon completely. That is what I meant, that Amazon is losing what made it a go to place. It’s the beginning of this phase, not end of life, though. Little signs peeking through the bushes.

Posted by: Piper at October 19, 2026 11:35 AM (ZdaMQ)

98 58 Wallymart is the new Amazon.
Cool tip. I recently learned how you can use the phone app to make the shelf tag light flash of the item you're looking for.
Is this a great country, or what?
Posted by: Quarter Twenty at October 19, 2026 11:20 AM (uGZRR)
- - - - - - - -
That's... actually a useful and innovative trick. I'll have to read up on that and see how to do it for the family.

Problem is that, after the roving hordes of Walmartians fire off their rayguns like they were at a Chicago block party, most of the things have been reorganized in non-sensical ways. A lot of times, frozen stuff placed in the candy aisle to melt and rot, for instance.

Posted by: another anon at October 19, 2026 11:35 AM (4h45B)

99 Uh oh.

https://tinyurl.com/mtc22rx9

He not only did it, he did it big. Well, Massachusetts so it probably doesn't matter.

Police tell us he hit five parked vehicles before flipping his own."

Those are rookie numbers.

Posted by: Tiger Woods at October 19, 2026 11:36 AM (Riz8t)

100 Ultimately they buy a company and fail to understand what made the brand work in the first place. See also Disney buying Lucasfilm.
Posted by: Cow Demon at October 19, 2026 11:25 AM (3uYEC)

See also Disney buying every company it ever acquired.
Posted by: Our Country is Screwed at October 19, 2026 11:30 AM (N39Ws)

Not quite - Marvel was literally bankrupt and selling property rights left and right before Disney bought the carcass that was left and has spent years trying to Frankenstein back together...
Posted by: Nova Local at October 19, 2026 11:32 AM (tOcjL)
_____

Marvel literally was in bankruptcy, IIRC

Posted by: Elric The Blade at October 19, 2026 11:36 AM (iFTx/)

101 These alleged "wealth raiders" do everything they do with the full blessing of the SEC and other regulatory bodies"

And let's not forget that someone sold said assets...

FWIW, public equity ain't no better...

Posted by: man at October 19, 2026 11:36 AM (pfXMo)

102 I think that is called envy and resentment.
Posted by: tubal at October 19, 2026 11:28 AM (Gqar

Some. Some of it is young people with no experience, little or no education on how the economy and money works, being fed an emotional argument that the old people are stealing their future.

In a world where everything is a subscription, college costs as much as a small home but doesn't get you a job unless you're Indian, and local inflation in the areas where all the yoots want to live is through the roof, I can see where the idea gets legs.

Posted by: I used to have a different nic at October 19, 2026 11:36 AM (ExV1e)

103 Obamacare seems to have destroyed private medical practices.

VA care is suffering also, I think. I've had three primary care docs call it quits there in the last four years.

Posted by: Mike Hammer, etc., etc. at October 19, 2026 11:37 AM (XeU6L)

104 103 Ultimately they buy a company and fail to understand what made the brand work in the first place. See also Disney buying Lucasfilm.
Posted by: Cow Demon at October 19, 2026 11:25 AM (3uYEC)

See also Disney buying every company it ever acquired.
Posted by: Our Country is Screwed at October 19, 2026 11:30 AM (N39Ws)

Not quite - Marvel was literally bankrupt and selling property rights left and right before Disney bought the carcass that was left and has spent years trying to Frankenstein back together...
Posted by: Nova Local at October 19, 2026 11:32 AM (tOcjL)
_____

Marvel literally was in bankruptcy, IIRC
Posted by: Elric The Blade at October 19, 2026 11:36 AM (iFTx/)

Yes, that's why I wrote literally bankrupt...they weren't theoretically bankrupt...

Posted by: Nova Local at October 19, 2026 11:37 AM (tOcjL)

105 On Amazon, you used to be able to get what you wanted the next day. Now many things are 2 and 3 days. I can order from somewhere else for that, know I am getting the real thing, and skip Amazon completely. That is what I meant, that Amazon is losing what made it a go to place. It’s the beginning of this phase, not end of life, though. Little signs peeking through the bushes.

I agree with that to an extent. Amazon's service seems to be bifurcating. Some stuff arrives before you actually order it, while other stuff gets delayed. I no longer just assume Amazon is the best deal.

Posted by: Archimedes at October 19, 2026 11:38 AM (Riz8t)

106 106 Obamacare seems to have destroyed private medical practices.

VA care is suffering also, I think. I've had three primary care docs call it quits there in the last four years.
Posted by: Mike Hammer, etc., etc. at October 19, 2026 11:37 AM (XeU6L)

Primary care is moving to PAs and nurses...it's not profitable for any docs really b/c of the Obamacare requirements...

Posted by: Nova Local at October 19, 2026 11:38 AM (tOcjL)

107 Cracker Barrel had a clientele, but one person with a woke idea nearly killed the brand.

It's not always investor based malpractice that kills businesses. Sometimes it's just plain stupidity on one person's part who's got way too much corporate pull.

Posted by: Martini Farmer at October 19, 2026 11:39 AM (RORbl)

108 105 I think that is called envy and resentment.
Posted by: tubal at October 19, 2026 11:28 AM (Gqar

Some. Some of it is young people with no experience, little or no education on how the economy and money works, being fed an emotional argument that the old people are stealing their future.

In a world where everything is a subscription, college costs as much as a small home but doesn't get you a job unless you're Indian, and local inflation in the areas where all the yoots want to live is through the roof, I can see where the idea gets legs.
Posted by: I used to have a different nic at October 19, 2026 11:36 AM (ExV1e)

Yes. The group is notoriously easy to manipulate by their authoity figures. This has been going on for, forever, really. Reality kicks in down the line, for some.

Posted by: tubal at October 19, 2026 11:39 AM (Gqar8)

109 Burnie Sanders is right!! The drakkonian cuts Drumpf made to the FART Tube programme means both children of coler hear have to pay full price!

Posted by: Mary Cloggenstein Of Brattleboro, VT at October 19, 2026 11:39 AM (EdP2u)

110 I cast suspicious eyes on Mittal - his words imply he thinks that Trumpist populism is not really compatible with free markets, just in a different way - or perhaps facade - than socialism. Is he another one of those 'tarriffs are evil if we do it but not if they do it', 'free traders'? But yes, the abusive 'who cares about long-term, you'll have moved on by then' nature of the current 'business leaders' is not helping the reputation of capitalism.

Posted by: RandomDave at October 19, 2026 11:39 AM (aJQbY)

111 The TSR saga has gotten interesting lately.

Posted by: Reforger at October 19, 2026 11:39 AM (Ae6Br)

112 OT-Blood clots discovered in Jalen Hurts' lungs. Out for seasojn.

Posted by: mr tmz at October 19, 2026 11:40 AM (Zb4cR)

113 The real estate is typically what's valuable, not the business. Chains, like Red Lobster or Olive Garden sometimes own the plot they're on. If not, and there's more money to be made selling, or rezoning the property then that's what the owner's gonna' do.

It's happening around here with some of the under performing retail stores and chain eateries.
Posted by: Martini Farmer

But the company owning the real estate can very easily destroy the franchisee by simply raising rent through the roof. That places the franchisee in an impossible situation--you cannot move the business because of the franchise contract--all you can do it pay it until you can't or close down.

Lots of lawsuits involving just this type of behavior by PE firms that take over franchise type restaurants.

Posted by: whig at October 19, 2026 11:40 AM (E4rtv)

114 Set aside companies for a moment. Do you know why the west embarked on a seemingly suicidal mass immigration movement?

Ask Larry Fink. He'll get back to you when he can break from his duties running the WEF.

Posted by: JackStraw at October 19, 2026 11:40 AM (viF8m)

115 Oral Surgeon around here extracted a lot of my wealth, lemme tell ya!

Posted by: Gabby Hayes at October 19, 2026 11:40 AM (EdP2u)

116 Some. Some of it is young people with no experience, little or no education on how the economy and money works, being fed an emotional argument that the old people are stealing their future.

I think a lot of them learned exactly how it works during the GWB recession/TARP era.

Posted by: it puts the lotion in the basket at October 19, 2026 11:41 AM (xEhzD)

117 115 OT-Blood clots discovered in Jalen Hurts' lungs. Out for seasojn.
Posted by: mr tmz at October 19, 2026 11:40 AM (Zb4cR)

Oh no...praying for his health b/c this isn't a football injury...this seems like a real long term health problem. One hit on a leg doesn't do this...

Posted by: Nova Local at October 19, 2026 11:41 AM (tOcjL)

118 Cracker Barrel had a clientele, but one person with a woke idea nearly killed the brand.

It's not always investor based malpractice that kills businesses. Sometimes it's just plain stupidity on one person's part who's got way too much corporate pull.
Posted by: Martini Farmer at October 19, 2026 11:39 AM (RORbl)
__

CB was faltering before the woke rebrand. It's an example of a business being successful by bringing value to customers and then ... not. It happens to many companies, whether family owned or sold to PE or merged, or anything.

Posted by: Elric The Blade at October 19, 2026 11:41 AM (iFTx/)

119 I think a similar topic to the above involves scalpers - those who buy a limited good (seating tickets to a show, 1st-print collectibles, etc.) and immediately try to resell it above the price sold by the actual producer.

The scalpers do not produce anything. They create an artificial demand for items, messing with the price point of the supply. And with various laws in place, if they don't manage to get a positive return on their object, they can cancel or return it for their original purchase price.

So there's little risk to scalpers, but larger harm to the second-hand purchasers who would be first-hand buyers if not for the scalpers. Harm to the original sellers as well; the item gets sold regardless, but they get zero "good will" for having a price point below the max people would pay, and they have to deal with returns as well (if the scalpers try to get their money back instead of losing on the second-hand sale).

Posted by: another anon at October 19, 2026 11:42 AM (4h45B)

120 Burnie Sanders is right!! The drakkonian cuts Drumpf made to the FART Tube programme means both children of coler hear have to pay full price!

Posted by: Mary Cloggenstein Of Brattleboro, VT

You can't fool me. You're that shop owner in Paris who tried to persuade the 'grants not to loot her store, because she's a good person and supported bringing them in to France.

Experience keeps a dear school, but fools will learn in no other, and scarce in that.

Posted by: Archimedes at October 19, 2026 11:42 AM (Riz8t)

121 I haven't shopped in a BAM store in years, with the minor exception of a suit and Costco. I think there are many like me, perhaps more men than women, but still.
Posted by: Archimedes at October

And I shop online for the most part, too. I get the majority of my groceries delivered from a specialty type store, I am definitely part of the community causing the issue with BAM not being as firm as they once were for sure.

Posted by: Piper at October 19, 2026 11:43 AM (ZdaMQ)

122
Some. Some of it is young people with no experience, little or no education on how the economy and money works, being fed an emotional argument that the old people are stealing their future.
-------

UNC School of Journalism (ranked 4th in the nation) did away with any prerequisite for Economics or pre-1865 History.

Posted by: Mike Hammer, etc., etc. at October 19, 2026 11:43 AM (XeU6L)

123 Little signs peeking through the bushes.

Posted by: Piper at October 19, 2026 11:35 AM (ZdaMQ)

You know who else had little signs peeking through the bushes?

Posted by: ... at October 19, 2026 11:43 AM (C/YEn)

124 >>Some buy companies strictly to destroy the competition.

Worked for a firm that was a target of one of those ploys. The purchase eventually happened, but because a highly-placed person in the buying company publicly said that that was the goal, it cost the buyer a LOT in legal fees and time because the FTC takes a dim view of this. Buying company also had to promise that it would support the target's flagship product for decades to come.

Posted by: Nazdar at October 19, 2026 11:43 AM (NcvvS)

125 I cast suspicious eyes on Mittal - his words imply he thinks that Trumpist populism is not really compatible with free markets, just in a different way - or perhaps facade - than socialism. Is he another one of those 'tarriffs are evil if we do it but not if they do it', 'free traders'? But yes, the abusive 'who cares about long-term, you'll have moved on by then' nature of the current 'business leaders' is not helping the reputation of capitalism.
Posted by: RandomDave at October 19, 2026 11:39 AM (aJQbY)
______

See my comment above. He's a purely political figure and former staffer for ... Mitch McConnell. Hardly a guy I trust to correctly diagnose a politically-charged problem.

Posted by: Elric The Blade at October 19, 2026 11:43 AM (iFTx/)

126 Do you know why the west embarked on a seemingly suicidal mass immigration movement?
-------

For the moment it's looking like they needed bodies for their social engineering riots.

Posted by: ... at October 19, 2026 11:44 AM (C/YEn)

127 I no longer just assume Amazon is the best deal.
Posted by: Archimedes at October 19, 2026 11:38 AM (Riz8t)

Which is why Amazon has banned bot shoppers.
Which pissed off the people who use them.
Which caused those people to take to X to ask Musk to make a competitor to Amazon.

I wonder if Amazon would be behaving this way of Jeff Bezos, shopkeeper, were still running the company rather than buying his new wife more plastic surgery and spending his money on trying to be Temu Elon.

Posted by: I used to have a different nic at October 19, 2026 11:45 AM (ExV1e)

128 Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.
Posted by: Piper at October 19, 2026 11:13 AM (ZdaMQ)

Probably. But they have, get this, the product I look for most all the time.
Posted by: tubal at October 19, 2026 11:15 AM (Gqar

Yup. Same here. And I do like their fast shipping.

Posted by: Dr. Pork Chops & Bacons at October 19, 2026 11:45 AM (g8Ew8)

129 113 I cast suspicious eyes on Mittal - his words imply he thinks that Trumpist populism is not really compatible with free markets, just in a different way - or perhaps facade - than socialism. Is he another one of those 'tarriffs are evil if we do it but not if they do it', 'free traders'? But yes, the abusive 'who cares about long-term, you'll have moved on by then' nature of the current 'business leaders' is not helping the reputation of capitalism.
Posted by: RandomDave
========
There is no such thing as a free market is the first rule. Closet thing we have are commodity markets but financialization has resulted in the producers getting screwed in a lot of cases by middlemen and market manipulators whether government or private individuals.

Second, regulations and rules you will always have upon the conduct of business and that is because like for criminal laws, you get a sizable percentage of sociopaths that simply will do anything to get rich. And even 'honest' business types are liable again and again to collude to limit or restrain competition whether it is by legal means or by illegal ones like price fixing.

Posted by: whig at October 19, 2026 11:46 AM (E4rtv)

130 I think a lot of them learned exactly how it works during the GWB recession/TARP era.
Posted by: it puts the lotion in the basket at October 19, 2026 11:41 AM (xEhzD)

Funny how those negative gdp numbers happened right when Bush took office and right when he was leaving office. Inbetween there was 26 straight quarters of positive gdp in spite of the Left trying to do all they could to get us into a depression.

Posted by: polynikes at October 19, 2026 11:47 AM (KC5Lt)

131 Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.
Posted by: Piper at October 19, 2026 11:13 AM (ZdaMQ)

Probably. But they have, get this, the product I look for most all the time.
Posted by: tubal at October 19, 2026 11:15 AM (Gqar

Yup. Same here. And I do like their fast shipping.
Posted by: Dr. Pork Chops & Bacons at October 19, 2026 11:45 AM (g8Ew

______

Caveat emptor, same as ever. I never make a purchase of any significance without doing a little research first. If a company sells me crap with my consent, who's fault is that?

Posted by: Elric The Blade at October 19, 2026 11:47 AM (iFTx/)

132 Do you know why the west embarked on a seemingly suicidal mass immigration movement?

1. The west's social network requires an ever growing population to prop up the pyramid.
2. The WEF wants to eradicate whites (with the exception of the globalist aristocracy) because they're deem harder to control.

Posted by: I used to have a different nic at October 19, 2026 11:48 AM (ExV1e)

133 I think a lot of them learned exactly how it works during the GWB recession/TARP era.
Posted by: it puts the lotion in the basket at October 19, 2026 11:41 AM (xEhzD)

I don't think the ones bitching the loudest are that old. They'd have been small children 18 years ago.

Posted by: I used to have a different nic at October 19, 2026 11:50 AM (ExV1e)

134 131

Caveat emptor, same as ever. I never make a purchase of any significance without doing a little research first. If a company sells me crap with my consent, who's fault is that?
Posted by: Elric The Blade at October 19, 2026 11:47 AM (iFTx/)

That should go without needing to be stated. Buying a dozen cheap widgets that you need RIGHT NOW is a far cry from plopping down 3,4,5 figures on an item. Some people though, live their lives on Assumptions.

Posted by: tubal at October 19, 2026 11:50 AM (Gqar8)

135 The French rioters are just angry because there isn't enough education spending. Swearsies.

Islamists are now threatening to burn down the Notre Dame Cathedral in Paris if the Parisian prison system doesn’t release their terrorist friend.

https://tinyurl.com/3bsukkyz

Posted by: Archimedes at October 19, 2026 11:51 AM (Riz8t)

136 Set aside companies for a moment. Do you know why the west embarked on a seemingly suicidal mass immigration movement?

Ask Larry Fink. He'll get back to you when he can break from his duties running the WEF.
Posted by: JackStraw at October 19, 2026 11:40 AM (viF8m)
________

Suicidal yes, but for who? The leftwing elites who opened the floodgates are doing great: new and potential new Democrap voters, cheap labor for donors, cheap labor for themselves, cheap sex, cheap drugs, and piles of dirty money.

They're doing great.

Posted by: Elric The Blade at October 19, 2026 11:51 AM (iFTx/)

137 CB was faltering before the woke rebrand. It's an example of a business being successful by bringing value to customers and then ... not.

CB was a gimmick restaurant and the folks who appreciated that gimmick aged out. It is what it is.

Posted by: I used to have a different nic at October 19, 2026 11:51 AM (ExV1e)

138 delivered from a specialty type store, I am definitely part of the community causing the issue with BAM not being as firm as they once were for sure.
Posted by: Piper

For goodness sake, you run a BAM store.

Posted by: Pot, Kettle at October 19, 2026 11:51 AM (EdP2u)

139 128 Let’s talk about Amazon - now that it is becoming a glob of mini sellers, the quality is suspect. The beauty of quick shipping is waning. Will it last? Will it be different in 5 years? I am going with yes.
Posted by: Piper at October 19, 2026 11:13 AM (ZdaMQ)

Probably. But they have, get this, the product I look for most all the time.
Posted by: tubal at October 19, 2026 11:15 AM (Gqar

Yup. Same here. And I do like their fast shipping.
Posted by: Dr. Pork Chops & Bacons

Truth is that Amazon is now an advertising and cloud company--the retail part runs at a bare profit compared to the other two. Essentially for Amazon, you and your information ARE what they are selling to companies for the advert part and that is why they purposefully bollixed their search engine to substitute products that paid the advert fee over those that didn't.

Eventually it will collapse due to enshittification but meanwhile Amazon is grabbing every buck it can any way it can. Including creating Amazon generic products when they see some company selling a good successfully.

Retail grocery and other stores act similarly btw, companies often pay to have their goods placed in premium spots.

Posted by: whig at October 19, 2026 11:51 AM (E4rtv)

140 I buy a new $1000 iphone every 6 months and order doordash for every meal and smoke weed every day.

Fuck capitalism and boomers for keeping me poor.

- GenZ voting for DSA candidates

Posted by: Sandy Cocazio Ortez at October 19, 2026 11:52 AM (4ZhPW)

141 Not quite - Marvel was literally bankrupt and selling property rights left and right before Disney bought the carcass that was left and has spent years trying to Frankenstein back together...
Posted by: Nova Local at October 19, 2026 11:32 AM (tOcjL)

Disney purchased Marvel way after it came out of bankruptcy, and was already starting to make good money on its own superhero films.

Posted by: far cry at October 19, 2026 11:52 AM (vD0EW)

142 I've read Glass House, and can't argue against its points nor the ones Mittal raises. The article at least spills a little ink on the outsourcing that was encouraged by "free trade" agreements, which left the henhouse door ajar for opportunistic PE predators. They swooped in and fed off the carcass of an already dying company. Today's populist movement, as embodied by Trump with his tariffs, is at least shutting that door.

Business is a lot like electricity and seeks the path of least resistance. Tariffs of products made overseas convinces business to consider making those products here. Our so called trading partners understand this and have been using tariffs to keep manufacturing jobs within their borders. We've been on the sidelines long enough and need to get back into the game.

Posted by: Joe Kidd at October 19, 2026 11:53 AM (08OqX)

143 aveat emptor, same as ever. I never make a purchase of any significance without doing a little research first. If a company sells me crap with my consent, who's fault is that?
Posted by: Elric The Blade at October 19, 2026 11:47 AM (iFTx/)

That should go without needing to be stated. Buying a dozen cheap widgets that you need RIGHT NOW is a far cry from plopping down 3,4,5 figures on an item. Some people though, live their lives on Assumptions.
Posted by: tubal at October 19, 2026 11:50 AM (Gqar

_______

Yes, and Amazon has an incredible return policy. Pretty much everything is returnable -- no questions asked -- for 30 days, and it doesn't cost you a penny.

So if you buy something from Amazon and it turns out to be junk, you can return it for a full refund.

And yes, I've done some research, bought something on Amazon, and despite my best efforts it turned out to be junk. So back it went.

Posted by: Elric The Blade at October 19, 2026 11:53 AM (iFTx/)

144 CB was a gimmick restaurant and the folks who appreciated that gimmick aged out. It is what it is.
Posted by: I used to have a different nic

Yup, like 60 Minutes and the CBS Evening News, every week the audience contracts as the graveyard fills up.

Posted by: Memento Mori at October 19, 2026 11:53 AM (EdP2u)

145 Where is this cheap illegal labor everyone keeps talking about? My new roof cost $20k to install, all done with “cheap” illegals.

I’d hate to see what it would cost using “expensive” labor lol.

Posted by: Sandy Cocazio Ortez at October 19, 2026 11:54 AM (4ZhPW)

146 "Hedge fund manager borrowed money to buy Sears after he bought the bankrupt K Mart and relied on the using the underlying real estate...." whig

Thx, shoulda known some hedge fund guy (corporate raider?) was involved. But I'm pretty sure on paper at least, it was K-Mart acquiring Sears.

Posted by: illiniwek at October 19, 2026 11:54 AM (vbXSk)

147 Cerberus bought out the company for which my dad was VP. They not only fucked him out of the company account (quite a bit, by then) but sued to keep him from finding work elsewhere.
As for Bain, let's just say there are reasons that Republicans didn't show up to vote for Romney but did show up for Trump.

Posted by: 88C+u at October 19, 2026 11:54 AM (88C+u)

148 137 CB was faltering before the woke rebrand. It's an example of a business being successful by bringing value to customers and then ... not.

CB was a gimmick restaurant and the folks who appreciated that gimmick aged out. It is what it is.
Posted by: I used to have a different nic at October 19, 2026 11:51 AM (ExV1e)

While true in part, they still had a demo that was immune to aging - the traveling person on interstates looking for comfort food. They got nervous b/c the Covid years cut that person down and rather than weathering the temporary storm, they went nuts...literally.

Now that travelers and the concept are back, they are back to fine results. They don't need to be a growth company to succeed. They just need to turn profits day in and day out, doing what appeals to their main current demo.

Posted by: Nova Local at October 19, 2026 11:54 AM (tOcjL)

149 Some stuff arrives before you actually order it, while other stuff gets delayed. I no longer just assume Amazon is the best deal.
Posted by: Archimedes at October 19, 2026 11:38 AM (Riz8t)

I got my Christmas present Friday (long story about why I ordered my present so early). It wasn't supposed to get here until tomorrow. I was pretty shocked, but very happy.

Posted by: Polliwog the 'Ette at October 19, 2026 11:54 AM (lFFaq)

150 The article at least spills a little ink on the outsourcing that was encouraged by "free trade" agreements, which left the henhouse door ajar for opportunistic PE predators. They swooped in and fed off the carcass of an already dying company.

Just a reminder: vultures fill a very necessary role in maintaining an ecosystem's health.

Posted by: Archimedes at October 19, 2026 11:54 AM (Riz8t)

151 Caveat emptor, same as ever. I never make a purchase of any significance without doing a little research first. If a company sells me crap with my consent, who's fault is that?
-----

Exactly.

Watching some people trying to demonize certain financial strategies resembles the "underpants gnomes" episode of South Park:

Phase 1: Private Equity buys an entity
Phase 2: ? ? ?
Phase 3: Profit

Posted by: Crusader at October 19, 2026 11:54 AM (TN0g+)

152 >>For the moment it's looking like they needed bodies for their social engineering riots.

For many years people wrote off the notion that globalist organizations like the WEF and UN were nefarious groups that specifically eroded the idea of democratic governance. But that's exactly what they have always been as we can see playing out on the world stage.

Take a look at leadership and attendees of these meetings. It's not just a bunch of pointy headed politicos getting together to discuss political theory. It's some of the richest and therefore most powerful financiers in the world giving their, ahem, opinions on how countries must address things like a shrinking population. The spreadsheets said the simple solution was import more worker units regardless of where they came from, their culture, their abilities to fit in, etc..

And western countries did. Rather than relying on technology improvements and things like AI they imported Ali and Mohamed and Juan Valdez because we need more buggy whips and any old human unit can do that.

And here we are.

Posted by: JackStraw at October 19, 2026 11:55 AM (viF8m)

153 Smaller versions of "Barbarians at the Gate " - the private equity giant Kohlberg Kravis Roberts & Co. (KKR)?

(The historic $25 billion corporate bidding war decades ago centered around three major rival factions trying to execute a leveraged buyout (LBO) of the food and tobacco conglomerate RJR Nabisco decades ago.

In the end, the $31 billion RJR Nabisco buyout held the record as the largest leveraged buyout (LBO) in history for 17 years and then KKR shattered its own record during the mid-2000s private equity boom.)

When buyout firms took over a company using massive amounts of debt, their primary goal was to find immediate cash to pay off that debt. They did this by aggressively shutting down unionized plants, laying off workers, and replacing union jobs with non-union or outsourced labor., which caused a sharp drop in the percentage of unionized American workers during the 1980s, 1990s.

The controversial government tax loophole —allowing private equity executives to pay lower capital gains tax rates on their compensation rather than ordinary income rates—still exists.

And unions are experiencing a modern, youthful resurgence in unexpected sectors.

Posted by: L - No nic... at October 19, 2026 11:55 AM (NFX2v)

154 I’d hate to see what it would cost using “expensive” labor lol.

Yes, yes you would.

Posted by: Archimedes at October 19, 2026 11:55 AM (Riz8t)

155 That said, the private equity firm that bought Barnes & Noble did seem to figure out how to make that chain profitable.

Posted by: 88C+u at October 19, 2026 11:55 AM (88C+u)

156 Eventually it will collapse due to enshittification but meanwhile Amazon is grabbing every buck it can any way it can. Including creating Amazon generic products when they see some company selling a good successfully.

Retail grocery and other stores act similarly btw, companies often pay to have their goods placed in premium spots.
Posted by: whig at October 19, 2026 11:51 AM (E4rtv)

IOW, they compete with other companies for customers. It's called "Business".

Posted by: Dr. Pork Chops & Bacons at October 19, 2026 11:55 AM (g8Ew8)

157 CB was faltering before the woke rebrand. It's an example of a business being successful by bringing value to customers and then ... not.

CB was a gimmick restaurant and the folks who appreciated that gimmick aged out. It is what it is.
Posted by: I used to have a different nic at October 19, 2026 11:51 AM (ExV1e)
______

Possibly. I was never a fan of CB because no booze. But a lot of people liked it. There's evidence that the company went from making it's own food, fresh, to basically just reheating already-cooked food.

Posted by: Elric The Blade at October 19, 2026 11:56 AM (iFTx/)

158 I wonder if Amazon would be behaving this way of Jeff Bezos, shopkeeper, were still running the company rather than buying his new wife more plastic surgery and spending his money on trying to be Temu Elon.
Posted by: I used to have a different nic
========
Eh, unlike Musk, Bezos cashed out. He owns about 8.8 percent of the company--a prominent stock holder but his influence like Bill Gates is fading from the company as his percentage of shares diminishes.

"Top institutional shareholders
Institutional investors own roughly 60–65% of Amazon's outstanding shares. The largest holders are passive index fund managers, which accumulate shares as Amazon's weight in major indices (S&P 500, NASDAQ-100) grows."

Amazon has no special rules like Ford Motor or others that keep control for Bezos of Amazon.

Posted by: whig at October 19, 2026 11:56 AM (E4rtv)

159 As for Bain, let's just say there are reasons that Republicans didn't show up to vote for Romney but did show up for Trump.
----

Yeah, its because Trump is a fighter and took the battle to the Democrats on a huge scale THREE TIMES while Mittens is a life-long pussy. Bain Capital had exactly NOTHING to do with the difference.

Posted by: Crusader at October 19, 2026 11:56 AM (TN0g+)

160 Sears catalog was Amazon. All they had to do was put it online and they would have dominated e-commerce. They didn’t. And died.

Posted by: Sandy Cocazio Ortez at October 19, 2026 11:56 AM (4ZhPW)

161 As for Bain, let's just say there are reasons that Republicans didn't show up to vote for Romney but did show up for Trump.
Posted by: 88C+u at October 19, 2026 11:54 AM (88C+u)

Yep. That little shit Ryan was no draw either.

Posted by: Reforger at October 19, 2026 11:58 AM (Ae6Br)

162 160 Sears catalog was Amazon. All they had to do was put it online and they would have dominated e-commerce. They didn’t. And died.
Posted by: Sandy Cocazio Ortez at October 19, 2026 11:56 AM (4ZhPW)

The “Internet”? I don’t get it! - Sears.

Posted by: tubal at October 19, 2026 11:58 AM (Gqar8)

163 Caveat emptor, same as ever. I never make a purchase of any significance without doing a little research first. If a company sells me crap with my consent, who's fault is that?
-----

Exactly.

Watching some people trying to demonize certain financial strategies resembles the "underpants gnomes" episode of South Park:

Phase 1: Private Equity buys an entity
Phase 2: ? ? ?
Phase 3: Profit

Posted by: Crusader at October 19, 2026 11:54 AM (TN0g+)
________

I agree with you, but our side has its boogeymen too, and boogeymen always get blamed even if the true source of the problem is far more complicated.

Posted by: Elric The Blade at October 19, 2026 11:59 AM (iFTx/)

164 160 Sears catalog was Amazon. All they had to do was put it online and they would have dominated e-commerce. They didn’t. And died.

That was certainly a catastrophic mistake, but I think there was an even larger problem, which was that they had stopped trying because they figured they were Sears, and were therefore immortal and invincible. They figured wrong.

Posted by: Archimedes at October 19, 2026 11:59 AM (Riz8t)

165 So if you buy something from Amazon and it turns out to be junk, you can return it for a full refund.

And yes, I've done some research, bought something on Amazon, and despite my best efforts it turned out to be junk. So back it went.
Posted by: Elric The Blade at October 19

But with some of the new sellers, this is not true, so really look before you buy. Some returns now have to go outside of Amazon, and this is what I mean by the glob of mini sellers making Amazon less desirable. Again, it is FAR from end of life, but the things that made it attractive are slowly changing.

Posted by: Piper at October 19, 2026 11:59 AM (ZdaMQ)

166 163 I agree with you, but our side has its boogeymen too, and boogeymen always get blamed even if the true source of the problem is far more complicated.

Posted by: Elric The Blade at October 19, 2026 11:59 AM (iFTx/)

========

Thanks, Obama.

Posted by: TheJamesMadison, precisely framed and deadpan with Wes Anderson at October 19, 2026 11:59 AM (+B3Bm)

167 Elon owns only 20% of Tesla.

Vanguard, State Street and BlackRock combined own more than him.

Posted by: Sandy Cocazio Ortez at October 19, 2026 11:59 AM (4ZhPW)

168 Reuters headline.

French High Schoolers Fight To "Learn In Dignity"

Posted by: Anonosaurus Wrecks, Up, Up, and Away! at October 19, 2026 11:59 AM (ndZc7)

169 164 160 Sears catalog was Amazon. All they had to do was put it online and they would have dominated e-commerce. They didn’t. And died.

That was certainly a catastrophic mistake, but I think there was an even larger problem, which was that they had stopped trying because they figured they were Sears, and were therefore immortal and invincible. They figured wrong.
Posted by: Archimedes at October 19, 2026 11:59 AM (Riz8t)

Kodak understands,Sears.

Posted by: Piper at October 19, 2026 12:00 PM (ZdaMQ)

170 141 Not quite - Marvel was literally bankrupt and selling property rights left and right before Disney bought the carcass that was left and has spent years trying to Frankenstein back together...
Posted by: Nova Local at October 19, 2026 11:32 AM (tOcjL)

Disney purchased Marvel way after it came out of bankruptcy, and was already starting to make good money on its own superhero films.
Posted by: far cry at October 19, 2026 11:52 AM (vD0EW)

https://www.imdb.com/news/ni62021427/ One film (after selling the rights for films of their more famous characters)...which Marvel couldn't even release itself theatrically (Paramount did), but which did well enough that Disney saw the possible value in the brand...

Posted by: Nova Local at October 19, 2026 12:00 PM (tOcjL)

171 But project Orca worked so well.

Why blame Bain for that?

Posted by: MJ at October 19, 2026 12:00 PM (XOmY9)

172 As of this moment, PE has not offered to buy me out, so I need to go teach the noon class.

And since I split that bagel with my kid, it’s probably a good thing I do. 🤣

Posted by: Piper at October 19, 2026 12:02 PM (ZdaMQ)

173 For what it is, Amazon is pretty good at delivering the goods. I've had but a few returns, and those were easy to do.

Musk's said to be toying with an Amazon type thing along with his other creations.

Is he still selling flamethrowers?

Posted by: Martini Farmer at October 19, 2026 12:02 PM (RORbl)

174 >>Amazon has no special rules like Ford Motor or others that keep control for Bezos of Amazon.

Do you know who Bezos' grandfather was? Lawrence Preston Gise.

Kind of explains how a plucky kid came up with a crazy idea of starting an online book store in a garage.

Posted by: JackStraw at October 19, 2026 12:02 PM (viF8m)

175 And western countries did. Rather than relying on technology improvements and things like AI they imported Ali and Mohamed and Juan Valdez because we need more buggy whips and any old human unit can do that.
----------
I will hear no slander of Juan Valdez and his l'il mule. Dude worked his butt off getting those coffee beans to marker.

Posted by: Captain Obvious, Laird o' the Sea at October 19, 2026 12:02 PM (amcLV)

176 There are two routes, first you can find a profitable product, then you use the profits to make sure that there are no competitors, and then you don't have to care if the product is good, bad, or actively damaging since no consumer has a choice. This is Windows.

Or you can make such a splash and demand that all people wind up getting is the hype, "sell the sizzle and not the sausage" sort of thing. This is Apple.

Eventually, without competitors or with collusion, the products no longer are things to sell to consumers to make a profit, they become "a way to extract all the money from the consumers"

Posted by: Kindltot at October 19, 2026 12:03 PM (rbvCR)

177 Most of our problems as a society are caused by the fact we've implemented significant levels of socialism already.

Then socialists campaign on that and argue that if we only had socialism we'd fix the problems and LIVs then vote for their solution.

Healthcare is the best example of this. While the cost of technology in areas loosely regulated like TV or computers have dropped healthcare costs have exploded...because of the fact the government manages healthcare.

The only logical solution to healthcare costs is to reduce the amount government is involved at all but that requires an informed electorate...

Posted by: 18-1 at October 19, 2026 12:03 PM (sKqQm)

178 I will hear no slander of Juan Valdez and his l'il mule. Dude worked his butt off getting those coffee beans to marker.

Nobody did quality control like Juan. Remember the old commercials where he'd spend half a minute examining each "hand-picked" bean to make sure it was worthy?

His family starved, but that was of no consequence.

Posted by: Archimedes at October 19, 2026 12:03 PM (Riz8t)

179 I have friends from college who worked at Bain, McKinsey, Boston Consulting, etc. Really smart, highly motivated dudes. Also very good at the art of bullshit. They could all sell the proverbial freezer to Eskimos.

Posted by: Sandy Cocazio Ortez at October 19, 2026 12:04 PM (4ZhPW)

180 IOW, they compete with other companies for customers. It's called "Business".
Posted by: Dr. Pork Chops & Bacons

Not quite. You have for example, the phenomenon where a company like Walmart opens a superstore in rural areas and suddenly all the local supermarkets go belly up. That is an example of monopolistic competition. A person could go miles and miles to shop at another place or do without but almost no one does. Same with brand names, you could buy an alternative to something like Nike but due to monopolistic competition, you cannot get that precise shoe from Reebok for example.

People tend to lump everything under the rubric of free enterprise (which itself is a misnomer). Instead you get a hierarchy of competitive situations ranging from a monopoly (utilities of gas, water, electric for example) to oligopolies (airlines), to monopolistic competition examples above, to commodity markets where a grain of wheat or a pill of generic penicillin competes only on price as they are basically the same product.

Each has its own advantages and disadvantages for potential new entrants into the market, consumer/customer effects, and government.

Posted by: whig at October 19, 2026 12:04 PM (E4rtv)

181 Amazon has no special rules like Ford Motor or others that keep control for Bezos of Amazon.

Do you know who Bezos' grandfather was? Lawrence Preston Gise.

Kind of explains how a plucky kid came up with a crazy idea of starting an online book store in a garage.
Posted by: JackStraw at October 19, 2026 12:02 PM (viF8m)
_______

His is a riches-to-even-more-riches story. Bezos was always a rich guy and Wall Street veteran before be came up with the idea of selling books online. I have long suspected the idea was as much the publishing industry's idea as his, as that industry was already looking for a way to get around the BAM bookstores.

Posted by: Elric The Blade at October 19, 2026 12:05 PM (iFTx/)

182 Private equity firms are running out of medical offices and chains to buy, now they are buying bowling alleys and locksmith companies, and treating them like Joanne's Fabric and Coldstone.

Posted by: Kindltot at October 19, 2026 12:05 PM (rbvCR)

183 I will hear no slander of Juan Valdez and his l'il mule. Dude worked his butt off getting those coffee beans to marker.
Posted by: Captain Obvious

My name is Conchita, Senor.

Posted by: Faithful Mule at October 19, 2026 12:05 PM (EdP2u)

184 As for Bain, let's just say there are reasons that Republicans didn't show up to vote for Romney but did show up for Trump.
Posted by: 88C+u at October 19, 2026 11:54 AM (88C+u)

Yep. That little shit Ryan was no draw either.
Posted by: Reforger at October 19, 2026 11:58 AM (Ae6Br)

Exactly what we were talking about in n the last thread.

Posted by: polynikes at October 19, 2026 12:05 PM (KC5Lt)

185 Amazon makes more money from AWS then from its store.

E-commerce is valuable but not nearly as valuable as web hosting apparently

Posted by: 18-1 at October 19, 2026 12:05 PM (sKqQm)

186
Just voted.

Straight ticket Rep.

I didn't notice obvious cheating like in the Obama elections. Though there were clearly some obvious Democrats voting.

The funny thing is that this time around there was only one race with a Libertarian running on the entire voting sheet.

And, on the way in, I heard some guy say he was voting for the libertarian guy.

So, there you go...there's always some a-holes who will vote libertarian and waster their vote. But, hey, America! Vote as you wish.

I'm pretty sure the Libertarians will win the Presidency in '28! '28 is their year, baby!

Posted by: naturalfake at October 19, 2026 12:06 PM (YSUhf)

187 There's evidence that the company went from making it's own food, fresh, to basically just reheating already-cooked food.
Posted by: Elric The Blade at October 19, 2026 11:56 AM (iFTx/)

And that was a major problem. I was willing to pay a premium for a treat sometimes when the food was good, but when the food wasn't good anymore (and there were rainbow rockers on the porch in June) I wasn't willing to go at all anymore.

Posted by: Polliwog the 'Ette at October 19, 2026 12:07 PM (lFFaq)

188 174 >>Amazon has no special rules like Ford Motor or others that keep control for Bezos of Amazon.

Do you know who Bezos' grandfather was? Lawrence Preston Gise.

Kind of explains how a plucky kid came up with a crazy idea of starting an online book store in a garage.
Posted by: JackStraw

Pretty much still true that a network is required for super success as a patron. Same for Lifelog and Zuckerberg.

Posted by: whig at October 19, 2026 12:07 PM (E4rtv)

189 You have for example, the phenomenon where a company like Walmart opens a superstore in rural areas and suddenly all the local supermarkets go belly up. That is an example of monopolistic competition.
-----

Go spend some time in a little burg like Vinita, Oklahoma and then try to convince the people who live there that they would be better off without their Walmart so that the local mom and pop stores could come back.

Posted by: Crusader at October 19, 2026 12:07 PM (TN0g+)

190 185 Amazon makes more money from AWS then from its store.

E-commerce is valuable but not nearly as valuable as web hosting apparently
Posted by: 18-1 at October 19, 2026 12:05 PM (sKqQm)

As an E-commerce consumer that might be good.

Posted by: tubal at October 19, 2026 12:07 PM (Gqar8)

191 As for Bain, let's just say there are reasons that Republicans didn't show up to vote for Romney but did show up for Trump.

Republicans have to give people a reason to vote for them. The Dems do as well but they just promise to steal from Republicans and give it to their voters.

Between Newt and Trump the Republican message was something like, "Vote for us and we'll probably steal less from you then the Democrats" which was not something that really drew voters to the polls.

Trump noticed that Republican voters wanted things - less immigration, less regulation, less woke, and he campaigned on that and people liked it. The GOPe doesn't want to embrace that message and while slowly the GOPe is being weakened this is why the last congress for example did almost nothing

Posted by: 18-1 at October 19, 2026 12:08 PM (sKqQm)

192 I am old, i can't stand or walk alI that much, and i don't drive any more. Once the XO gets home from work or his Friday shopping rounds, he doesn't want to get up from his recliner. So I do most of my casual shopping on Amazon. Yes, I know it costs more and, yes, I know about the little businesses clumped around Amazon but I've been 95% satisfied so far. The 5% unsatisfied go back for a refund.

Posted by: Captain Josepha Sabin at October 19, 2026 12:08 PM (DK5Sh)

193 I have absolutely boycotted Amazon. I consider the well-being of local of businesses to be more important than the convenience of mail-order. If I have to order via the local business, I do it. A stint when Amazon isn't available would convince anyone that local businesses, their stock, and jobs are damned important.

Just my 2 cents.

Posted by: Mike Hammer, etc., etc. at October 19, 2026 12:09 PM (XeU6L)

194 Amazon makes more money from AWS than from its store. E-commerce is valuable but not nearly as valuable as web hosting apparently
Posted by: 18-1

Yeah AWS is something like 20% of revenue but 60% of profit. Margins for AWS are ridiculously good.

Posted by: Sandy Cocazio Ortez at October 19, 2026 12:09 PM (4ZhPW)

195 I'm pretty sure the Libertarians will win the Presidency in '28! '28 is their year, baby!

Posted by: naturalfake

Not a fan of protest votes. Better to just leave it blank as there is little to no evidence that anyone even considers a protest vote. Same with sitting out elections in a boycott--Venezuela opposition tried that and Chavez and Maduro laughed their asses off. Neither would have let the opposition take power anyway but boycotting destroying any costs for the bastards cheating.

Posted by: whig at October 19, 2026 12:09 PM (E4rtv)

196 Trump noticed that Republican voters wanted things - less immigration, less regulation, less woke, and he campaigned on that and people liked it. The GOPe doesn't want to embrace that message and while slowly the GOPe is being weakened this is why the last congress for example did almost nothing

Given the size of the impending changes I foresee, especially in the Senate, I think the GOPe is more than weakening; it's facing extinction.

Posted by: Archimedes at October 19, 2026 12:10 PM (Riz8t)

197 There's evidence that the company went from making it's own food, fresh, to basically just reheating already-cooked food.
Posted by: Elric The Blade at October 19, 2026 11:56 AM (iFTx/)

And that was a major problem. I was willing to pay a premium for a treat sometimes when the food was good, but when the food wasn't good anymore (and there were rainbow rockers on the porch in June) I wasn't willing to go at all anymore.
Posted by: Polliwog the 'Ette at October 19, 2026 12:07 PM (lFFaq)
_________

Rainbow rockers? Unpossible! CB is supposed to be a Christian store!

I think in fairness, the company got hammered during Covid -- like many businesses that required in-person customers -- and never really recovered. So they panicked and started pinching pennies, and brought in a bunch of woke retards to try to turn it around. Of course, that only made it worse.

Posted by: Elric The Blade at October 19, 2026 12:11 PM (iFTx/)

198 Trump noticed that Republican voters wanted things - less immigration, less regulation, less woke, and he campaigned on that and people liked it. The GOPe doesn't want to embrace that message and while slowly the GOPe is being weakened this is why the last congress for example did almost nothing
Posted by: 18-1

Yep. The difference is that under Trump II, the resistance is now the Senate. In Trump I, the resistance was the House and Senate. GOPe is crumbling but not totally out for the count yet.

Posted by: whig at October 19, 2026 12:11 PM (E4rtv)

199 Morning, Buck, and Horde. Back at Peon Manor. All is well here. Coffee mug in hand.

Posted by: Alberta Oil Peon at October 19, 2026 12:11 PM (wSl27)

200 195 I'm pretty sure the Libertarians will win the Presidency in '28! '28 is their year, baby!

Posted by: naturalfake

Not a fan of protest votes. Better to just leave it blank as there is little to no evidence that anyone even considers a protest vote. Same with sitting out elections in a boycott--Venezuela opposition tried that and Chavez and Maduro laughed their asses off. Neither would have let the opposition take power anyway but boycotting destroying any costs for the bastards cheating.
Posted by: whig at October 19, 2026 12:09 PM (E4rtv)

I think the non technical term for that is called pouting.

Posted by: tubal at October 19, 2026 12:11 PM (Gqar8)

201 Walmart is cheaper then the mom and pop stores.

Is it better for the communities it goes into? That's harder to say because you run into a few problems:

1) Sometimes you need the mom and pop type of service and walmart cuts costs in part by NOT doing that. Need to know what kind of product will resolve X? No habla ingles!

2) What happens to the mom and pop local business types? Are there other venues? Or do they just...leave or give up?

3) Cheaper goods though ARE a good thing. Since the mass introduction of modern capitalism in the 1700s the costs of goods and services have dropped over time steadily. Instead of working all day to get enough food to eat you can get that food, and housing, and other necessities by spending less of your time working

Posted by: 18-1 at October 19, 2026 12:11 PM (sKqQm)

202 Go spend some time in a little burg like Vinita, Oklahoma and then try to convince the people who live there that they would be better off without their Walmart so that the local mom and pop stores could come back."

This.

Posted by: man at October 19, 2026 12:11 PM (pfXMo)

203 So there's little risk to scalpers, but larger harm to the second-hand purchasers who would be first-hand buyers if not for the scalpers. Harm to the original sellers as well; the item gets sold regardless, but they get zero "good will" for having a price point below the max people would pay, and they have to deal with returns as well (if the scalpers try to get their money back instead of losing on the second-hand sale).
Posted by: another anon at October 19, 2026 11:42 AM (4h45B)

There is the argument that the scalpers guarantee the sale of tickets to the venue, and then have a demand based price system worked out to match the market, and as long as there is no collusion in the system, they do a better job at getting tickets to the public at a decent price than Ticketmaster ever did.

Posted by: Kindltot at October 19, 2026 12:11 PM (rbvCR)

204 Nood.

Posted by: Nazdar at October 19, 2026 12:11 PM (NcvvS)

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