Subnostr

They didn't even bother to clear their former employees' sensitive personnel records out of the unlocked filing cabinets before they scarpered:

https://memex.craphound.com/2018/09/23/exploring-the-ruins-of-a-toys-r-us-discovering-a-trove-of-sensitive-employee-data/

But as flashy as the Toys R Us caper was, it wasn't the worst. Private equity funds specialize in buying up businesses, loading them with debts, paying themselves, and then leaving them to collapse.

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Cory Doctorow 2y ago

They're sometimes called #VultureCapitalists, but they're really #VampireCapitalists:

https://www.motherjones.com/politics/2022/05/private-equity-buyout-kkr-houdaille/

Given a choice, PE companies don't want to prey on sick businesses - they preferentially drain off value from *thriving* ones, preferably ones that we *must* use, which is why PE - and KKR in particular - *loves* to buy health care companies.

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Cory Doctorow 2y ago

Heard of the "surprise billing epidemic"? That's where you go to a hospital that's covered by your insurer, only to discover - after the fact - that the #EmergencyRoom is operated by a separate, PE-backed company that charges you thousands for junk fees. KKR and #Blackstone invented this scam, then funneled millions into fighting the #NoSurprisesAct, which more-or-less killed it:

https://pluralistic.net/2020/04/21/all-in-it-together/#doctor-patient-unity

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