i was talking to regional manager about it the weekend before last and he mentioned that kmart has relatively good pay and benefits and that, that what was ultimate brought them down.
Vulture capitalism. These VCs come in and take out a huge loan to buy these established companies, then the company becomes responsible for paying the loan, and the company also pays the VC “management fees” then when the company is a hollow husk of what it used to be they start selling off assets and closing stores. Kmart, Sears, Toys R’ Us, Circuit City, Party City, Payless, etc etc etc. This is how Thiel made his Billions and what Vance did before pretending to be a politician. Lately they’ve been going after the funeral home industry and veterinary clinics.
literally rich; he was talking about his vacation home (as in more than one home) and it made me wonder if he was detached from the reality of the ordinary kmart workers.
i was talking to regional manager about it the weekend before last and he mentioned that kmart has relatively good pay and benefits and that, that what was ultimate brought them down.
was this true in your experience?
Damn employees expecting to be fairly compensated for their labor. Don’t they know they’re literally stealing from the executive’s bonuses?
that’s why i asked; working in retail myself taught me that upper management was detached from reality and i suspect that was the case here was well.
Vulture capitalism. These VCs come in and take out a huge loan to buy these established companies, then the company becomes responsible for paying the loan, and the company also pays the VC “management fees” then when the company is a hollow husk of what it used to be they start selling off assets and closing stores. Kmart, Sears, Toys R’ Us, Circuit City, Party City, Payless, etc etc etc. This is how Thiel made his Billions and what Vance did before pretending to be a politician. Lately they’ve been going after the funeral home industry and veterinary clinics.
LOL that’s rich, yeah you know who else has relatively good pay and benefits - a whole slew of companies, retail or otherwise.
literally rich; he was talking about his vacation home (as in more than one home) and it made me wonder if he was detached from the reality of the ordinary kmart workers.
Detached from reality. Period.
It was almost certainly venture capitalists or excessive bonuses and dividends that brought it down, just like usual.
if was if this guy was any sign.