Because we have broken tax laws, the private equity firm can now profitably destroy this business, leaving everyone worse off except them. - ThreadSky

maxkennerly.bsky.social • 61 days ago

Because we have broken tax laws, the private equity firm can now profitably destroy this business, leaving everyone worse off except them.

Reposted from Chicago Tribune

BREAKING: Walgreens to be acquired by private equity firm for $10 billion

Comments

gentlewomanfarmer.bsky.social•60 days ago

They bought them for the data and our PII and PHI. Great.

catherine292862.bsky.social•61 days ago

A buy out to destroy a business and make money is just plain greed. Especially the size of Walgreens because sometimes Walgreens is the only store around for some populations. It doesn’t matter to me because I have lots of other options at this time, but this is just part of the Monopoly game.

bigbeeinfinity.bsky.social•61 days ago

Bankruptcy in 30 months and all stores closed within 36. Guaranteed.

lightspeedsara.bsky.social•61 days ago

I thought Trump and Musk had banned the use of the word “equity, because it’s part of that evil woke DEI? Let’s change “private equity” to say what it really is: “private robbery”, because these firms reorganize businesses to sell off the profitable pieces to their executives and let the rest die

treemendous.bsky.social•61 days ago

Wait. You mean that these private equity firms are just looking to make a profit? For themselves? Where’s my fainting couch?

venetianblond.bsky.social•61 days ago

Same thing as JoAnn Fabrics. Bought for $1.6 Bil. Filed for bankruptcy with new debt of *shuffles papers* $1 Bil and change.

lemarchand.bsky.social•61 days ago

Is that what happened to Toys “R” Us?

lightspeedsara.bsky.social•61 days ago

Yes

paddytimmerson.bsky.social•61 days ago

CVS monopoly guarantee

mmyotis.bsky.social•61 days ago

One has to wonder how many people in this equity firm also owns stock in CVS. Win win.

susanjane.bsky.social•61 days ago

Will private equity firms buy the Congress next? Or the rights to sell citizenship? Or our municipalities or open spaces, or neighborhood associations or toll roads or weather or children’s potential, or…

in-the-bunker.bsky.social•60 days ago

Yup! Bye Bye Walgreens.

dogsdadbod.bsky.social•61 days ago

It was $15B but then Martin Sheen walked in with some fucking app or another and the price came down a completely arbitrary amount because everything is fake and nothing matters

spartacussin.bsky.social•61 days ago

...wait what? How is Martin Sheen involved??

dogsdadbod.bsky.social•61 days ago

I know how pharmacies work

kevdog.bsky.social•61 days ago

The golden parachutes of the CEO and other executives should be confiscated.

nwgarcia.bsky.social•60 days ago

Correct. I can't understand why they are never mentioned in these stories. You can't buy something that's not for sale and they know what PE will do to the company.

sdrose.bsky.social•61 days ago

PE is evil

be-see.bsky.social•61 days ago

F#$% Walgreens they brought us Scott Walker and a bunch if other Garbage

nicolas.grumpycoder.net•61 days ago

*heavy sigh*

Welp, I guess it's time to find another pharmacy then...

joetheyogi.bsky.social•61 days ago

Guess this is all thanks to that massive loss from those stupid fridge doors.

ashleylynch.bsky.social•61 days ago

Isn't it great how whenever anyone hears private equity now they know it's over for the company?

eastslope.bsky.social•61 days ago

20 yr leases on most expensive 2004-2007 properties will be ending soon. Many will just naturally die, with no realistic back-fills in many locations. Might be able to release for way less than the current face rate.

And that's before the great assignment race.

Still, Sycamore sees some nugget...

shaidorsai.bsky.social•61 days ago

Not handing it to PE in any way, but based on my experiences with them, as well as the Street's, the C-Suite was already doing a bang-up job of destroying the business

shaidorsai.bsky.social•61 days ago

Wouldn't be surprised if this wound up like Toys-R-Us, where the real estate is in aggregate more valuable than the market cap of the company. There are 8500 stores in the country...that comes out to a little over a million per store acquisition cost.

eastslope.bsky.social•61 days ago

I'm not aware of a higher-payer for this property type.