I have to see anyone lose a company because so many innocent people lose also. But a hit that size will hurt and I think people won't trust them as much. Just my 2 cents
Sorry. I was using sarcasm. As in people ask that type of question without reading the thread. My wife says I’m not funny. I think my sense of humor is an acquired taste.
Celadon Gets $165 Million Infusion From Luminus Management A surprising source of capital to a company struggling so bad. Celadon is basically .2% away from being controlled by a private equity group now which is kind of worst-case if you are a driver wanting a good pay. Currently should be good news to Celadon drivers looks like you might get a lot of new equipment.
That's not good news,that's bad news. Seems like every one of these companies that Go out of business,where bought by a private equity Group a year beforehand. It's almost a death sentence.
private equity firms are the next circle of the vultures in late stage capitalism....it's way smaller risk for the firms whilst the company that has been effectively temporarily bailed out is often collapsing under the debt repayments/dividends/transaction fees that the private equity firms demand....in one sense, sure, it's brilliant--pick over the fleshy part of the bones of a dying animal.....ultimately, to me, it just shows how far our value systems have gone off the rails.....hunger games scenarios seem not so far off. When Buyout Firms Step in, Watch Out
There is no such thing as "late stage capitalism". Private equity firms are in this to make money, just like anybody else. The only way they get in is if some management team convinces them that they are a good investment. The reason so many of these ventures fail is because the trucking company they took a chance on was a dog with fleas to begin with - otherwise they wouldn't have needed to seek this kind of funding in the first place. If there was some magic pile of wealth to be raided and carried off then why wouldn't the original owners have done it? Why give it to some third party equity firm?
