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Another casualty of private equity


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2018 Jan 25, 8:30am   7,947 views  34 comments

by HappyGilmore   ➕follow (0)   💰tip   ignore  

If anyone really wants to learn the lesson of Hostess--read this. It's not unions, it's private equity.

http://inthesetimes.com/article/20600/how-private-equity-killed-toys-r-us
"Vornado Realty Trust, KKR and Bain Capital financed 80 percent of the purchase of Toys “R” Us, so while the company sold for $6.6 billion, the trio only contributed $1.3 billion. As part of the purchase agreement, the companies also agreed to take responsibility for all of Toys “R” Us’s long-term debt obligations, which at the time totaled $2.3 billion. Once Toys R Us was taken over, however, the debt Vornado Realty, KKR and Bain used to acquire it was pushed back onto the company, skyrocketing its debt obligations to $7.6 billion."

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10   justme   2018 Jan 25, 12:45pm  

anon_8f378 says
Great--Same question as above. You've got evidence of this?


There is no evidence, only ideology.
11   Goran_K   2018 Jan 25, 3:56pm  

anon_8f378 says
Wrong.

1. Management agreed to union contracts. Of course workers asked for as much as they could get. That's called capitalism.
2. Unions actually agreed to reduced benefits when the company was in trouble. Management increased their own pay rather than increase investment in R&D.



Uh, that was exactly my point.

Unions and the leaders who support the unions are part of the corruption. This happens all the time. Look at how the Public Sector Unions in Illinois sucked the state dry in EXCHANGE for Democrat votes? The losers are the share holders, or in Illinois case, the taxpayers.

How is this not corruption?
12   Strategist   2018 Jan 25, 6:02pm  

anon_8f378 says
Wrong.

1. Management agreed to union contracts. Of course workers asked for as much as they could get. That's called capitalism.

That's called blackmail.

Goran_K says
Unions and the leaders who support the unions are part of the corruption. This happens all the time. Look at how the Public Sector Unions in Illinois sucked the state dry in EXCHANGE for Democrat votes? The losers are the share holders, or in Illinois case, the taxpayers.

How is this not corruption?

More blackmail.
13   Strategist   2018 Jan 25, 6:11pm  

This is how unions destroy progress, innovation, and companies.
https://www.cnbc.com/2018/01/24/labor-teamsters-want-to-ban-ups-from-using-drones-driverless-vehicles.html Union heavyweight wants to ban UPS from using drones or driverless vehicles
-----
14   Strategist   2018 Jan 25, 6:12pm  

Strategist says
This is how unions destroy progress, innovation, and companies.
https://www.cnbc.com/2018/01/24/labor-teamsters-want-to-ban-ups-from-using-drones-driverless-vehicles.html Union heavyweight wants to ban UPS from using drones or driverless vehicles


Fucking Blackmail. Union thugs belong in prison.
15   HappyGilmore   2018 Jan 25, 6:27pm  

Strategist says

That's called blackmail.


lol--is it blackmail when you ask your boss for a raise?

Strategist says
This is how unions destroy progress, innovation, and companies.
https://www.cnbc.com/2018/01/24/labor-teamsters-want-to-ban-ups-from-using-drones-driverless-vehicles.html Union heavyweight wants to ban UPS from using drones or driverless vehicles


You have bought so far into propaganda that you can't even see truth anymore. Of course unions are fighting to save jobs. That's their charter.

Strategist says
Fucking Blackmail. Union thugs belong in prison.


hilarious. Private equity thugs are the ones that really belong in jail. They caused 22,000 people to lose their jobs.
16   MAGA   2018 Jan 25, 6:31pm  

I like twinkies but then I am white.



17   anonymous   2018 Jan 25, 8:05pm  

HappyGilmore says
Strategist says

That's called blackmail.


lol--is it blackmail when you ask your boss for a raise?


Please go try that and report back what he says.

HappyGilmore says
Of course unions are fighting to save jobs COLLECT DUES. That's their charter.


There, more accurate.
18   Strategist   2018 Jan 25, 8:51pm  

HappyGilmore says
Strategist says

That's called blackmail.


lol--is it blackmail when you ask your boss for a raise?

If you can shut down the company if your demands are not met, yes, it's blackmail.

HappyGilmore says
Strategist says
This is how unions destroy progress, innovation, and companies.
https://www.cnbc.com/2018/01/24/labor-teamsters-want-to-ban-ups-from-using-drones-driverless-vehicles.html Union heavyweight wants to ban UPS from using drones or driverless vehicles


You have bought so far into propaganda that you can't even see truth anymore. Of course unions are fighting to save jobs. That's their charter.

By destroying a company? Like Hostess did? Sounds like they only jobs unions are trying to save are the jobs of the $1000,000.00K union bosses.

Strategist says
Strategist says
Fucking Blackmail. Union thugs belong in prison.


hilarious. Private equity thugs are the ones that really belong in jail. They caused 22,000 people to lose their jobs.

They create jobs and a high standard of living. why do you think we are better off than Venezuela?
19   Strategist   2018 Jan 26, 7:31am  

HappyGilmore says
Strategist says
If you can shut down the company if your demands are not met, yes, it's blackmail.


Strikes almost never shut a company down so then the answer is no. Good management plans ahead with contingency plans as they know it's a part of doing business.

Because management gives in to union blackmail. Giving in to them is a better alternative to a complete shut down. Unions know this, which is why their blackmail strategy works in the short run. In the long run the company suffers, along with jobs that could have been created, had the company been more successful.

HappyGilmore says
Strategist says
By destroying a company? Like Hostess did? Sounds like they only jobs unions are trying to save are the jobs of the $1000,000.00K union bosses.


See--that's where you're wrong. Despite all the evidence I've shown, you continue to believe your fantasy that the union destroyed the company. Open your eyes man! Open your mind! Read what has been posted here. Turn off the propaganda.

And we have shown you evidence that it's the union that screwed the company. Why do you think the company is more successful without the unions and their silly rules?

HappyGilmore says
There are many reasons why we're better than Venezuela

All those reasons boil down to one good reason. Socialism does not work.
20   HappyGilmore   2018 Jan 26, 8:28am  

Strategist says
ecause management gives in to union blackmail. Giving in to them is a better alternative to a complete shut down. Unions know this, which is why their blackmail strategy works in the short run. In the long run the company suffers, along with jobs that could have been created, had the company been more successful.


Nope--typically managers do union jobs or they bring in temps to do them. Or production is shifted to a different plant temporarily. Going on strike rarely pays off so unions are very reticent to actually do it. Companies often find that they didn't need so many workers once management has to do the jobs..

Strategist says
And we have shown you evidence that it's the union that screwed the company. Why do you think the company is more successful without the unions and their silly rules?


You've shown me ZERO evidence.

Strategist says
All those reasons boil down to one good reason. Socialism does not work.


And nobody is arguing that socialism is better. What's your point? (fyi--unions are not socialism)
21   Strategist   2018 Jan 26, 8:56am  

Hutch says
Strategist says
HappyGilmore says
There are many reasons why we're better than Venezuela

All those reasons boil down to one good reason. Socialism does not work.
Hey, did you know the socialist government under Chavez and Maduro view unions as a threat to their power. Is not favoring unions a path to socialism? Sure looks that way to me.


Even Socialists don't like unions. Wow.
Communists and socialists don't like unions because they are seen as selfish, only looking out for themselves at the expense of others.
22   Strategist   2018 Jan 26, 8:58am  

Hutch says
And we have shown you evidence that it's the union that screwed the company. Why do you think the company is more successful without the unions and their silly rules?


Not seeing this evidence you refer to. Only seeing your opinion's. Opinion is not evidence.


We had lots of threads and arguments on Hostess in the past. Here is the bottom line evidence that Zzyzzx already posted.
anon_8f378 says
23   anonymous   2018 Jan 26, 8:59am  

Goran_K says
HappyGilmore says
I've never heard of any member of management of a private company working with union leaders to the detriment of the company. That simply never happens.


Okay. I think there is an obvious lack of knowledge of reality here.


Come on guys, enough with the personal attacks. That includes you Goran, remember attack the message not the messenger. It's quite simple.
24   Patrick   2018 Jan 26, 9:00am  

True. Let's not talk about the other users specifically.
25   HappyGilmore   2018 Jan 26, 9:01am  

Strategist says
We had lots of threads and arguments on Hostess in the past. Here is the bottom line evidence that Zzyzzx already posted.


None of that is evidence of union killing Hostess. That is all how management killed Hostess.
26   HappyGilmore   2018 Jan 26, 9:03am  

Strategist says
ven Socialists don't like unions. Wow.
Communists and socialists don't like unions because they are seen as selfish, only looking out for themselves at the expense of others.


Socialism has no need for unions because government controls all mean of production and provides for citizens.

That is why claiming unions are similar to socialism is ridiculous.
27   Strategist   2018 Jan 26, 9:07am  

Hutch says
Strategist says
Because management gives in to union blackmail. Giving in to them is a better alternative to a complete shut down. Unions know this, which is why their blackmail strategy works in the short run. In the long run the company suffers, along with jobs that could have been created, had the company been more successful.


Again, opinion.

My opinion is that private unions are what made this country great. Giving rise to a large middle class and producing tremendous wealth for all. What you call blackmail others call collective bargaining same differnce except your desire to portray it in a negative light.

Public unions such as the police unions are the unions we need to fear.


There was a time when unions did some good by demanding safety, child labor laws, equal pay etc. We now have strong laws that protect workers from exploitation, thereby making unions useless. We need to fear all unions, especially public unions because those blood suckers cannot kill the animal they infest.
28   HappyGilmore   2018 Jan 26, 9:12am  

Strategist says

There was a time when unions did some good by demanding safety, child labor laws, equal pay etc. We now have strong laws that protect workers from exploitation, thereby making unions useless. We need to fear all unions, especially public unions because those blood suckers cannot kill the animal they infest.


Companies will always try to exploit workers to increase profits so we always need a strong voice for workers to counteract this. As union strength has weakened, you've seen wage growth for workers lag far behind productivity growth. All the gains are going to the owner class.

This is very bad for the economy.
29   Strategist   2018 Jan 26, 9:47am  

HappyGilmore says
Strategist says

There was a time when unions did some good by demanding safety, child labor laws, equal pay etc. We now have strong laws that protect workers from exploitation, thereby making unions useless. We need to fear all unions, especially public unions because those blood suckers cannot kill the animal they infest.


Companies will always try to exploit workers to increase profits so we always need a strong voice for workers to counteract this.

We already have a strong voice to prevent exploitation for everyone, not just a lucky few - Government

HappyGilmore says
As union strength has weakened, you've seen wage growth for workers lag far behind productivity growth. All the gains are going to the owner class.

Have you seen the ridiculous pensions government employees get? Retire at 55, full pay until they croak.
Seems to me it's the poor taxpayer who is getting exploited. Who will protect us?
30   HappyGilmore   2018 Jan 26, 10:27am  

Strategist says

We already have a strong voice to prevent exploitation for everyone, not just a lucky few - Government


There's nobody in the US government that's helping me get a bigger raise. Is there someone who helps you?

Strategist says
Have you seen the ridiculous pensions government employees get? Retire at 55, full pay until they croak.
Seems to me it's the poor taxpayer who is getting exploited. Who will protect us?


We're not talking about public employees. That is an entirely different topic.
31   zzyzzx   2023 Sep 11, 6:02am  

https://finance.yahoo.com/m/60fd4f24-cfe0-3167-a2fc-68a0bfd98f02/hostess-brands-stock-soars-as.html

Hostess Brands Stock Soars as Smucker Buying Twinkies Maker for $5.6 Billion
32   1337irr   2023 Sep 11, 6:26am  

zzyzzx says


https://finance.yahoo.com/m/60fd4f24-cfe0-3167-a2fc-68a0bfd98f02/hostess-brands-stock-soars-as.html

Hostess Brands Stock Soars as Smucker Buying Twinkies Maker for $5.6 Billion

Dang it! Should have bought some...oh well.
33   HeadSet   2023 Sep 11, 9:34am  

1337irr says

Dang it! Should have bought some...oh well.

Yep


34   AD   2023 Sep 11, 11:08am  

Strategist says

Have you seen the ridiculous pensions government employees get? Retire at 55, full pay until they croak.
Seems to me it's the poor taxpayer who is getting exploited. Who will protect us?


Not really. If they are under the Federal Employee Retirement System, then they only get 1% for each year of civil service if they retire before 62 (and 1.1% for each year if at age 62 or later).

If they retire at minimum retirement age they get FERS and a Social Security supplement, but I think it comes out to roughly 63% of salary if they worked for 35 years. However, they also get matching 401k through the Thrift Savings Program which is a great benefit also.

Federal law enforcement officers (LEO) like FBI and US Marshal Service have a better pension than non-LEO federal retirees, as I believe they get 2.5% for each year for the first 20 years of service, and 2% for each year for years 21 and later.

.

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