How Private Equity Plundered The American Economy | Ft. Adam Conover

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More Perfect Union

More Perfect Union

Күн бұрын

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@MattsMkia
@MattsMkia 10 күн бұрын
There have been several transactions with both strategic investors and private equity over the past 15 years since the Great Financial Crisis - oftentimes the PE component was not 100% and the capital raises were far less than $400 Million, money moves quickly from the hasty to the patient. The biggest hurdle for investors is maintaining mental control through losses, and investing in the right places at the right time
@winifred-k9e
@winifred-k9e 10 күн бұрын
That’s right! But trust me, Downturns provide plenty of opportunities for regular people to build wealth from the scratch. However, you may need to get some professional advice from an Investment planner if you need an aggressive return.
@richardhudson1243
@richardhudson1243 10 күн бұрын
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@JacobsErick-u8r
@JacobsErick-u8r 10 күн бұрын
Can i get a recommendation on who you are working with?
@richardhudson1243
@richardhudson1243 10 күн бұрын
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@LUCIASMITH-d1z
@LUCIASMITH-d1z 10 күн бұрын
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@zerosashes
@zerosashes 2 жыл бұрын
My company was purchased by a private equity firm years ago. At the time the popular talking point was “We’ll have deeper pockets to hire more people to grow our business with this investment.” Over the years, we saw jobs cut, no roles backfilled, the slow removal of our company culture in the ways they gave back to workers. Used to have a monthly birthday party for all birthdays, more company picnics and give aways, free food in the break room, an annual bonus, higher raises, etc. No more. They cut costs everywhere little by little mostly in employee benefits to create a false balloon in profits so we could be sold off to another company, giving the PE firm and any executives with a private equity holding a huge windfall. We were sold to IBM, which has been even worse. Our company as it was is no more… before this our company prospered for thirty years. Thanks for making this video. I wish it wasn’t so relatable 😢
@seanshingatok303
@seanshingatok303 2 жыл бұрын
This should be illegal
@Falla__
@Falla__ 2 жыл бұрын
Oh man... "over the years" hit hard here. Company I worked for was purchased by a M&A firm (backed by Private Equity) during the pandemic. There was no slow roll to killing our company culture, layoffs/jobs cut, no roles backfilled and just taking advantage of people that were loyal to what used to be.
@matthewedwards123
@matthewedwards123 2 жыл бұрын
Sounds just like my company I work for. Everything was good then now everything is falling apart. I don't know about what my company is invested into though.
@funveeable
@funveeable 2 жыл бұрын
Well that's what you get for voting for corrupt politicians that let this happen so they get a cut of profits at your expense.
@creditcardhelp8824
@creditcardhelp8824 2 жыл бұрын
I guess everyone needs to start their own company. Being an employee is rough
@Vondo4
@Vondo4 9 ай бұрын
I grew up in Indiana going to a grocery chain called Marsh. John Marsh was no saint, but from what I hear, you could work there full time until retirement with a reasonable quality of life and a pension for retirement. Eventually, Marsh was bought by private equity firm Sun Capital Partners. they cut full time staff to as much part time as possible, stopped buying local produce, and mismanaged the pension. They stole a good company from us, they even robbed Marsh retirees of their pension when they shut down. Then, the Sun Capital executives paid themselves bonuses while shuttering Marsh in 2018. If there is such a thing as pure evil, it's private equity
@frankfahrenheit9537
@frankfahrenheit9537 9 ай бұрын
Where are these 2nd amendment people when you need them?
@GENXJOPLIN
@GENXJOPLIN 9 ай бұрын
​@@frankfahrenheit9537 too busy sücking corporaté cöck and deep thróating boots because their parents were siblings and they got psyop'd by Fox News
@hillbilly4895
@hillbilly4895 9 ай бұрын
Jan 12, 2024 Kroger has partnered with private equity firm MidOcean Partners to form an investment company focused on exposing emerging CPG brands to consumers, the grocery chain announced Thursday.
@EdT.-xt6yv
@EdT.-xt6yv 9 ай бұрын
Bye, bed bath and beyond,,,
@kurisu7885
@kurisu7885 9 ай бұрын
@@frankfahrenheit9537 On the side of these firms because they believe they get to be one of the billionaires one day.
@manuelruiz9189
@manuelruiz9189 3 ай бұрын
My sister and I have been trying our utmost to keep my mom out of a nursing home for the last four years since she was first struck down with dementia. My mom is a retired nurse, and I remember my sister telling me she was terrified of ending up in a so called "care" facility. She was an old school nurse with years of experience accumulated since the late 60's. When she retired back in the mid 2000's she told us about the rapid deterioration, or rather, the collapse of the health care industry caused by privatization. I feel as though I've aged 10 years and I know it's only going to get worse as she deteriorates even further. I constantly worry about the next time she falls or wanders off. Seeing my once strong, tough as nails mom reduced to a drooling infant is indescribably soul crushing. This whole experience has changed my outlook on life be ause, I don't have anyone who will do what my sister and I are now doing for mom. I am very pessimistic about any kind of future. I'm 60, and am eligable to retire from my railroad job, but fear keeps me working. At least there I have some measure of control over my life.
@FemiNelson-sb1em
@FemiNelson-sb1em 3 күн бұрын
Omgosh, I'm so sorry for so much hardship. What's worse is Govt is so responsible & not one of our leaders do anything to stop this. Padre God help us all 🙏. "Sra Isa"
@kimberH1005
@kimberH1005 Жыл бұрын
I worked for Hertz for 22 yrs. We were the leader in the industry. Top market share. Solid financials. We were purchased by a private equity group in a leverage buyout. It destroyed the company. Thousands lost their jobs, customer service went in the toilet. The age of the cars on the road skyrocketed. Absolute destruction. Then they bought Dollar and Thrifty Rent a Car. Now 3 companies own all the brands you have heard of. Hertz went into bankruptcy entirely because of the private equity pirates. It was during covid but they had dug the grave long before that. It pisses me off to this day. I was proud of what I did for a living and these scumbags destroyed it for everyone. But a handful of people made a fortune while our careers were trashed.
@TheJagjr4450
@TheJagjr4450 9 ай бұрын
Usually the PE Firm is after something besides the business... such as the control of a large pool of retirement money profit sharing which they can use for their own market manipulation. The financialization and thus decoupling of vertically integrated businesses and THUS leveraging of many previously unleveraged assets has made the businesses much more likely to fail, additionally the vertical integration was typically a means of controlling material costs within a business's supply chain. I was in the pulp and paper industry and something I saw troubling which also served to significantly raise prices was the divestiture of pulp and paper company timber property. These were managed stands of timber which were routinely planted harvested and replanted, THIS forested land was utilized infrequently as it takes a decade or more in order to grow and harvest trees for pulpwood. The privately held family companies needed cash to pay inheritance taxes so they sold off some or all of their different NONCORE assets, ie TIMBER land, this increased their cost of pulpwood and caused a variability to the prices the mill had to charge in order to turn a profit. ALL FOR A ONE TIME GAIN which was NOT fully considered a to the rammifications 50 years down the road.
@MonkeyMind69
@MonkeyMind69 9 ай бұрын
I'm wondering what the companies who are being bought up by the PE Firms are getting out of this. Seems if it's a stable and profitable business before the PE Firm comes along, that it would be better to turn away their offer.
@EXRazeBurn
@EXRazeBurn 9 ай бұрын
​@@MonkeyMind69"Leveraged Buyout" You need to educate yourself on how the stock market works. They offered a lot more than the going stock share price for company stock and bought it from short sighted and greedy shareholders until they had a controlling interest in the company; at which point they could do whatever they wanted to it.
@MonkeyMind69
@MonkeyMind69 9 ай бұрын
@@EXRazeBurn...So what you're saying is that it wasn't negotiated and approved by the companies being bought out by the PE firms, but more like a hostile takeover?
@johntrott1872
@johntrott1872 9 ай бұрын
Hertz was bought by United Airlines in the 1980S and was forced to be sold off when Marvin Davis did a corporate raid of United this is nothing new
@tommyb52
@tommyb52 9 ай бұрын
To all who think that business tactics like those shown in the video should be illegal, remember the Golden Rule. "Those with the gold make the rules." The greed is ridiculous.
@sparkybob1023
@sparkybob1023 9 ай бұрын
i think it used to be illegal. Clinton 'The Glass-Steagall legislation describes four provisions of the United States Banking Act of 1933 separating commercial and investment banking.[1] The article 1933 Banking Act describes the entire law, including the legislative history of the provisions covered.'
@asnark7115
@asnark7115 9 ай бұрын
*"Those who print the fiat currency..."
@JM-er2yl
@JM-er2yl 9 ай бұрын
@@sparkybob1023That legislation was written under Bush Srs' Administration, but it took Bill Clinton to get it passed. BOTH sides are owned by the same greedy psychopaths.
@partysugar519
@partysugar519 8 ай бұрын
That's not the golden rule fool. Treat others the way you want to be treated I believe is the "golden rule". You are right about greed. Greed is the root of all evil.
@tommyb52
@tommyb52 8 ай бұрын
I know that's not the the real rule we were taught growing up. I quoted what was told to me by someone who is in small financial investing. It rang true then and still does today as to what is really running the world. @@partysugar519
@artificialgravitas8954
@artificialgravitas8954 9 ай бұрын
I remember my sheer disgust upon learning why ToysRus was no longer around The idea that the same kind of utter scumbags have simply gone on to ruin even bigger things is downright criminal
@rrmackay
@rrmackay 9 ай бұрын
Yes it is criminal and who is supposed to pursue and stop criminal behavior ? Government !
@churblefurbles
@churblefurbles 9 ай бұрын
@@rrmackay The same government outsourcing even domestic jobs by importing labor, sure.
@rrmackay
@rrmackay 9 ай бұрын
@@churblefurbles I wasn't commenting on their incompetence or downright corruption but rather pointing to who is responsible for doing the job. People always want to blame nameless investors or CEOs or companies that have enough players in them to not who is responsible. A government official has signed documents that they will be held accountable yet people complain about business.
@zhenyaka13
@zhenyaka13 8 ай бұрын
ToysRus couldn’t compete with Walmart, Target and online retailers. That’s what the closed.
@fastesteddiealive
@fastesteddiealive 8 ай бұрын
Absolutely nothing to do s it Zhen. Zero
@brandonvasquez1862
@brandonvasquez1862 8 ай бұрын
"When your entire economy is based on extracting value from the bits around producing a good or service rather than extracting value from the good or service itself, everything becomes impossibly expensive." - Gareth Dennis (paraphrased and reworded for clarity)
@innawoods2131
@innawoods2131 3 ай бұрын
Didn't he also get fired by way of a lord complaining very recently? Apparently for rightfully speaking out about safety issues at Euston underground train station.
@melaber77
@melaber77 Жыл бұрын
I’m a product of 2 now-retired teachers, and this makes my blood boil. My parents started in the 70s, so their retirement is pretty secure, but my stepmom switched to teaching in the 90s, and she got a way worse retirement deal. The gap between rich and poor has widened so much in just this generation that I do not see home ownership or retirement in my future, just debt. It’s incredibly depressing
@gildedpeahen876
@gildedpeahen876 8 ай бұрын
scary to think that these grimy companies own the retirement pensions of firefighters, teachers (like me), librarians, tradesmen, etc. even those in the public sector/unions are not safe from these evil people.
@michellefreeman1109
@michellefreeman1109 7 ай бұрын
Gen X is the first die at your desk generation
@michaeledwards2251
@michaeledwards2251 5 ай бұрын
@@gildedpeahen876 Watch the video "How Reagan Ruined Everything", and read the associated comments. It will give you a clue to the authors of the current situation.
@BlueDoginRedSoLa
@BlueDoginRedSoLa 3 ай бұрын
As political as I am, and as political as this subject should NOT be... It is political and these greedy, seething people are supporting the guy who has been, so far, convicted of 34 felonies. Two kinds of people: producers and parasites. Private equity firms are parasites.
@BobRooney290
@BobRooney290 3 ай бұрын
its actually not. the old generation used to be so loyal to corporations. and for what? they got nothing in return for it when private equity buys them out and destroys the company. i never stick around for more than 1 to 2 years. how do you think i got incredible raises? by taking a 2% increase likely worth a cup of coffee? or by looking for a new job that paid $10k to $15k more? i will never be loyal to any corporation. it's the only way i can keep getting a livable wage. they want to cheat and steal off my back? good luck with that. 1 week notice and i'm out after i find a better paying job.
@5133937
@5133937 2 жыл бұрын
There should be a law that you can’t buy out a company and then transfer the debt you used to buy that company to that company. That seems to be the crux of the problem. The PE firms have to keep that debt on their own books.
@theultimatereductionist7592
@theultimatereductionist7592 Жыл бұрын
LOGIC!
@JusticeAlways
@JusticeAlways Жыл бұрын
Makes total sense! And because it does...it'll never happen. 🙄
@jackhuffman9313
@jackhuffman9313 Жыл бұрын
Everything in this video is a consequence of exactly this
@eleSDSU
@eleSDSU Жыл бұрын
That is not the crux of the problem, it's just one of the financial instruments that allow this to happen in this manner, but without doing that it would still be possible, very profitable and just as harmful. If I learned one thing by working 10 years in our ministry of economics developing and implementing financial instruments is that banks and states will create whatever mechanism lobbyists from Capitalist tell them to, it's not the instruments, it's Capitalism itself.
@RussellD11
@RussellD11 Жыл бұрын
So I want to buy YOUR grocery store and you sell it to me for $1 Million, I take out a loan for $900k and obviously the collateral is YOUR grocery store... This happens like EVERY SALE BRO LOL....
@casualotaku3505
@casualotaku3505 9 ай бұрын
I got a feeling that totally happened to the company I worked for. We celebrated making 1 BILLION with a huge party and health fair where we got free food, prizes, and even flu shots if you wanted, then they got bought out and suddenly only 'executives' could use the employee cafeteria, my department got moved into a tiny building across the street, and two years later it went bankrupt.
@priley817
@priley817 6 ай бұрын
It was acted quite well what happens in the movie Wall street with Charlie Sheen.. that’s real life sharks like Gecko just rinsing people dry.
@Sean-ex9ip
@Sean-ex9ip 3 ай бұрын
​@priley817 wow! I was also thinking about that 1st movie while I was watching this video.
@LB-uo7xy
@LB-uo7xy 13 күн бұрын
Well how ELSE were they supposed to STEAL every item in that cafeteria and offices IF YOU GUYS WERE THERE? You gotta think about those mafia sharks too you know. Uh, so selfish of you. 😂
@HollyDutton-wz8fe
@HollyDutton-wz8fe 8 ай бұрын
When I first found out what private equity was, I was appalled and confused. I read that in private equity the company which is being bought is responsible for getting the loan, not the company that wants to buy said company. That is totally upside-down.
@beckyheinz7337
@beckyheinz7337 7 ай бұрын
Think reverse mortgages. Another predatory scheme.
@verenabecker2724
@verenabecker2724 2 жыл бұрын
The PetSmart comment made me realize that's the reason so many things changed for the worse while I worked there (in the petcare department, not the salon). So many infuriating, nonsensical regulations, requiring us to do double the work in half the time, taking away dedicated time for animal care and instead making us do all of it while also helping customers, which had a hugely negative impact on the quality of life of those animals. It was infuriating and beyond frustrating and part of what eventually made me decide to quit after many years of working there.
@VeteranVandal
@VeteranVandal 2 жыл бұрын
Capitalism ruins everything.
@alexcisneros2980
@alexcisneros2980 2 жыл бұрын
Wow. You're a quitter. Couldn't take a little adversity sweetheart? 🙄
@verenabecker2724
@verenabecker2724 2 жыл бұрын
@@alexcisneros2980 Nice try honey 😂
@alexcisneros2980
@alexcisneros2980 2 жыл бұрын
@@verenabecker2724 gotta shoot my shot ya know ¯\_(ツ)_/¯
@VeteranVandal
@VeteranVandal 2 жыл бұрын
@TendingSands nah, no worries, I was answering an arsehole there.
@evurohardware
@evurohardware Жыл бұрын
In other words if your company announced that they got bought by private equity, start looking for a new job
@NSA_test_server_59274
@NSA_test_server_59274 9 ай бұрын
And cutting phone lines and cat 6 in random locations
@Cpt.Phenom
@Cpt.Phenom 8 ай бұрын
@@NSA_test_server_59274 what does "cat 6 in random locations" mean
@ericbutler739
@ericbutler739 4 ай бұрын
​@@NSA_test_server_59274 Yuck
@alexsmith-ob3lu
@alexsmith-ob3lu 4 ай бұрын
Yep!! That’s what I did two years ago!! My parents and grand parents were constantly telling me that a white collar, corporate pathway is a great career choice; not so much anymore! Never am I gonna return back to the corporate world. Not unless these private equity firms are rid of.
@jackalclone1
@jackalclone1 3 ай бұрын
The sad truth is that a lot of PE actually EXPECTS and relies on this type of "voluntary attrition" in order to cut costs by offshoring those more expensive domestic roles. And, if they don't see the attrition they expect by their mere presence, then they start squeezing the employees that remain by slowly removing benefits, career advancement, raises, etc, until they're pressured to leave anyway.
@gabriellabelle3915
@gabriellabelle3915 2 жыл бұрын
Only bit you missed is them working with hedge funds to short the stock of the company to get another win in their hat!
@EroticInferno
@EroticInferno 2 жыл бұрын
And they failed with gamestop 🤣🤣
@gabriellabelle3915
@gabriellabelle3915 2 жыл бұрын
@@EroticInferno and AMC Apes strong together!
@ryansack6170
@ryansack6170 2 жыл бұрын
HODL and DRS GME / AMC
@nikkovalidor4890
@nikkovalidor4890 2 жыл бұрын
crypto bros seething and coping name a better combo
@ashleysimthi4852
@ashleysimthi4852 2 жыл бұрын
you all are socialism, Marxism or authoritarianism woke
@Tant
@Tant 8 ай бұрын
This happened to the pharma company I worked for. It got snapped up by private equity, then we were all laid off with no notice. Sorry, not getting that severance package we were promised. We got to keep our health care insurance for the rest of the month. Five days. It was actually illegal and the state said they were investigating, but nothing happened.
@TheHavnmonkey
@TheHavnmonkey 2 жыл бұрын
This video was great... but it barely scraped the surface of what happened to Toys R Us and other stores. If you are interested, there are numerous videos and articles written about it. In the meantime you may be asking yourself why is this allowed? Adam tried to explain it, but I think there is a much simpler way to show it: Ask yourself this question: When Toys R Us went out of business what did you hear about it? did you hear the business was mismanaged? did you hear that it couldn't keep up with Amazon? If that is what you heard, that is why this is allowed to happen. Private Equity firms put in a lot of effort to steer the initial narrative when the gut a famous business and it implodes in the public eye. They will spend millions on PR to make sure the first stories out shine the light in the wrong direction. After a few weeks when the truth comes out, most people have already accepted the initial story and moved on.
@aicram62
@aicram62 2 жыл бұрын
OK but if the company is doing well, why would they take a loan?
@henrimatisse7481
@henrimatisse7481 2 жыл бұрын
@@aicram62 the company is offered a loan that may seem to be on good terms. Toys R Us had stand alone stores, expensive to maintain and then COVID
@PS-dm1dq
@PS-dm1dq 2 жыл бұрын
@@henrimatisse7481 They were already bought out and going under well before covid though
@kevinbarnard355
@kevinbarnard355 2 жыл бұрын
@@aicram62 Companies take loans all the time, whether in debt or not. Most often in the hopes of expanding their business which requires more capital.
@Patryc
@Patryc 2 жыл бұрын
i feel like i heard about toys r us going bankrupt for like years on end
@SiriusMined
@SiriusMined Жыл бұрын
This is what happened to Hostess. THREE TIMES. Then, they blamed the debt on the employees.
@jessebrook1688
@jessebrook1688 9 ай бұрын
Now that's some good-quality gaslighting. I bet they buried it deep it corporate-speak, too.
@fmcg5364
@fmcg5364 9 ай бұрын
So that is why you could not find sno balls for so long, I have to check the package to see who owns them now
@spacelinx
@spacelinx 8 ай бұрын
@@jessebrook1688: I thought the same thing as you, except I thought of it as “master-level” gaslighting.
@wnose
@wnose 8 ай бұрын
Yes that makes sense. If only employees could work for free... No commitment today, it's a real shame.
@nolongerblocked6210
@nolongerblocked6210 4 ай бұрын
I worked for International Brands close to 20yrs ago, in the Midwest. It sucked, running lines baking/making Hostess products then switching the packaging & running Dolly Madison products. They were running with minimum crew members & everyone doing multiple jobs. I only stayed about 9-10 months... basically long enough to find a new job
@purplej12
@purplej12 Жыл бұрын
If it looks like the mafia, swims like the mafia, and quacks like the mafia, then it probably is the mafia. RICO when? IRS?
@HolyknightVader999
@HolyknightVader999 8 ай бұрын
The IRS is asleep.
@Saviliana
@Saviliana 8 ай бұрын
@@HolyknightVader999 Wrong, that mafia owns IRS in the first place.
@shellier1172
@shellier1172 6 ай бұрын
The IRS is obscenely understaffed. By design.
@davidmalkowski7850
@davidmalkowski7850 2 ай бұрын
Too busy pointing 87000 new agents at the middle class.
@friedpickle9828
@friedpickle9828 16 күн бұрын
​@@davidmalkowski7850That's just fear-mongering. Those agents were hired to go after super high income earners, it was literally in the bill.
@vernontk
@vernontk 3 ай бұрын
I was working at Toys R Us when they were bought by a private equity firm. It became a hopeless workplace where the only advancement available was to leave.
@drnapkins1
@drnapkins1 9 ай бұрын
My previous job got bought by private equity. Last year, they laid off literally over 60% of all hourly employees across the company. They just recently filed Chapter 11 Bankruptcy Protection
@DeaDiabola
@DeaDiabola 3 ай бұрын
The sad thing is that they just change their direction
@biometronome7010
@biometronome7010 2 жыл бұрын
In "Monopolized" David Dayen wrote about how the collusion of hedge funds and private equities is the main driver of monopolization. The system incentivizes it by making consolidation very lucrative for the parties involved. Bank "consultants" just sit at some meetings; easiest way to funnel wealth upward to people who do nothing for a living, and destroy the lives of workers in the process.
@Madronaxyz
@Madronaxyz 2 жыл бұрын
None of this would be possible if Ronald Reagan hadn't stopped enforcing our antitrust laws. No president since has started enforcing the antitrust laws again.
@stoodmuffinpersonal3144
@stoodmuffinpersonal3144 2 жыл бұрын
Someone needs a slap across the face cause this is cartoonishly phucked up.
@stoodmuffinpersonal3144
@stoodmuffinpersonal3144 2 жыл бұрын
@@Madronaxyz And we "Liberals," like to pin things on Trump. But. No presidents, right? That includes the democrats. This is horseshit.
@maxwell4431
@maxwell4431 2 жыл бұрын
@@Madronaxyz seems like they have made it historical to con the American public. "trickle-down reagonomics" - everyone seemed to believe this at one point. Now that we know it is pure load of BS, it's so engrained that we cannot seem to shift out of it
@davidgill3356
@davidgill3356 2 жыл бұрын
@@Madronaxyz Ask Apple or Microsoft about that….bullshit.
@PhilWithCoffee
@PhilWithCoffee 9 ай бұрын
This happened to the largest furniture retailer in Michigan, Art Van. They went from being in the black, owning all the land their stores were on (i.e. no debt), to completely bankrupt and shuttered in 2-3 years of being bought out by a PE firm. The smarter employees that had pensions jumped ship before this happened, but it screwed a lot of people over.
@neverendingstudent
@neverendingstudent 6 ай бұрын
Well crap, I remember seeing my local Art Van close. That was why? Jeez.
@PhilWithCoffee
@PhilWithCoffee 6 ай бұрын
@@neverendingstudent Yeah, Thomas H. Lee was the PE that bought it, and before it went chapter 11 it was purchased by another Private Equity based out of Texas who turned some of the stores into Love's Furniture (around 2020 or so). Just before it was sold to the Texas PE, Kim Yost (the CEO) jumped ship in 2019 to another company in Montreal. If you read Art Van's sales numbers in Furniture Today and similar publications they were killing it, but they built too much too fast and ended up collapsing. I heard there were some lawsuits a few years back, but I haven't been following them,. However, from what I understand Art was doing some pretty shady stuff (big surprise).
@innawoods2131
@innawoods2131 3 ай бұрын
Also how they killed Red Lobster; sold the land the restaurants were on, so then they had to pay rent. Also, they went from multiple shrimp suppliers to 1, which had enough influence on the board to cut out the others and set their own prices, and also pushed for the bottomless shrimp deals to be standard so they could move more shrimp. Never thought I'd find myself bitching about a shrimp mafia.
@rubynorman8868
@rubynorman8868 5 ай бұрын
My heart sank when I heard the statistic that “private equity” is responsible for the deaths of people, especially elders… what have we come to :(
@jamesodell3064
@jamesodell3064 2 жыл бұрын
The rules should also allow and encourage the bankruptcy courts to claw back the fees paid to these private equity firms.
@bluelunarmonkeytarot8533
@bluelunarmonkeytarot8533 Жыл бұрын
The courts are now corrupt as well so....
@devkrovil
@devkrovil Жыл бұрын
The companies that profit off of this, pay off politicians and judges so that doesn't happen.
@rrmackay
@rrmackay 9 ай бұрын
The rules probably contain some element of that but the DOJ is not enforcing the law against private equity so those laws are irrelevant.
@RyanChand-c5b
@RyanChand-c5b Жыл бұрын
I work in finance, this guy explained it in laymen terms but yeah the average person doesn’t understand how much of a sham finance i general is not just private equity
@amethystdream8251
@amethystdream8251 6 ай бұрын
It's frustrating, the finance field seems so tied to conceptualizations of manhood for men, and security/ aspirational husband material for women. I'm an artist myself, totally not in that world, and it is especially frustrating and poignant to observe what humans have been allowing to happen, over some very flawed concepts of what it means to be a man or woman - which got way too tied to money, something that is relevant to every human regardless of demographic.
@swagmassa6702
@swagmassa6702 2 ай бұрын
I agree. I'm in Finance too and the more I have learned about finance/markets, etc... the more I see how fucked up the USA system is in regards to wealth equality. 1. PE Firms using leverage and only taking limited risk on equity instead of debt. This is literally free marign wtf... AND THEY GET PAID FOR IT through interest. 2. Banks getting interest free loans from customers (Deposits, etc...), use that money to make money and barely give shit back to the depositors. Ex: Deposit $100 at the bank, bank uses $90 and invest into risk free t-bills. They earn a return and give you less than the t-bill rate return. 3. Large companies getting free bailouts for risk taking behavior. (See 2008 financial crisis...). Banks literally gave loans out to people with horrible credit scores KNOWING they would not be able to pay it off. Literally causing a fucking economic crisis worldwide. 4. Healthcare... The fact that there is barely any legislation that protects the fucking well being of human lives is disgusting. Trumps son in low raised the price of life saving medication from $5 to $2,000... So many other examples. I'm glad I'm in finance because you either get fucked or you do the fucking.
@adventofnull
@adventofnull 2 жыл бұрын
Private Equity sounds like a pretty good way to transfer wealth from the poor to the rich!
@NQUSTN
@NQUSTN 2 жыл бұрын
I'm pretty that's it's only purpose is to siphon money.
@shanescott8241
@shanescott8241 2 жыл бұрын
I think most of the seemingly more complicated financial mechanisms are just siphons that should be legal
@AskMiko
@AskMiko 2 жыл бұрын
Rewrite the laws and level of transparency so they can siphon money without people seeing
@DipayanPyne94
@DipayanPyne94 2 жыл бұрын
​@@shanescott8241U meant Illegal ??
@fourshore502
@fourshore502 2 жыл бұрын
bingo
@alexsmith-ob3lu
@alexsmith-ob3lu 4 ай бұрын
This video reminds me of what my old man had to got through. He worked as a BAS technician doing HVAC Controls for a medium sized corporation (ESC Automation) for a few decades. Then suddenly, a private equity firm comes in a few months after the 2008 recession, buys up the entire corporation, and then begins selling off the company for higher profits. The moment the private equity firm took over my old man work place; half the employees were fired for so called “under performing”, and the other half of employees who remained had to work overtime (70+ hours per week) for no extra pay and no bonuses. My old man essentially became an overworked donkey slaving away for cents on the dollar until a private investor bought up ESC Automation Corp. from that private equity firm and allowed things to be turned around for the better.
@kadu51044
@kadu51044 2 жыл бұрын
Wow... I normally take things like this with a grain of salt, until I have had a chance to cross reference with other sources, but when you worked for a company that was bought by a private equity firm, and literally watched everything that happened from the inside as an employee that was described in this video with your own eyes, you can say with 100% certainty, "Yeah, this is the real deal truth!"
@clarkpalace
@clarkpalace 8 ай бұрын
A grain of salt? So you dont believe it until it happens close enough , or to , you. U must be a rethug
@jaredoliver8684
@jaredoliver8684 2 жыл бұрын
'The marketing pitch is that these private equity investors are geniuses and are beating the public markets by leaps and bounds. When you dig a little deeper, when you lift up the rocks, you find out that these kinds of claims are untrue. They're flat with the public markets, or in some cases underperform... It's a terrific deal for the private equity managers. They put up very little money (10% on average). They get a huge amount of fixed fees. In the process, we've created a new plutocracy.' - Jeffrey Hooke, Finance Professor | Johns Hopkins Carey School of Business
@maxwell4431
@maxwell4431 2 жыл бұрын
It would seem finance guys spend all their time finding new ways to market products and financial deals that essentially defrauds and steals. It explains why while they only occupy 7% of the workforce they reap 25% of GDP. It's about time that we come up with better ways to counter
@MyBiPolarBearMax
@MyBiPolarBearMax 2 жыл бұрын
If you only risk 10% of capital, you can rip the company apart and destroy the other 90% of the company to get 11% back. There is an incentive to turn 90% of a company into 11% profit. Leveraged buyouts would be illegal in any sane, functioning society
@BartvandenDonk
@BartvandenDonk 2 жыл бұрын
Money isn't productive in any form. That's a problem. Making money from money is gonna kill the entire economy. Only new (or refurbished) products add value to the economy. It would be better if money wasn't wasted in making "more" money.
@BartvandenDonk
@BartvandenDonk 2 жыл бұрын
@@MyBiPolarBearMax The first thing such "investors" do is selling all assets and hire it back. It's what they do everywhere in the world. Even in places where they do not know what money is. Most of the time poor countries with starving people. And they still make a profit. How?...
@FilipCordas
@FilipCordas 2 жыл бұрын
That's just not true. PE funds outperform other investments by a large margin especially during crisis times like in 2008 and now. Due to the amount of leverage and little risk of having to pay anything when companies go bankrupt, they are extremely profitable for anyone investigating.
@KaritKtana
@KaritKtana 2 жыл бұрын
Wow, I personally lost a great job as a result of the domino effect of Toys R Us shutting down, and had no idea it was to do with PE!! The media at the time criticized Toys R Us for not investing in online sales as if they were irresponsible dummies
@ianpershing1200
@ianpershing1200 2 жыл бұрын
They were servicing so much debt from the purchase by PE that they couldn't afford to pivot to online sales.
@danielscott2839
@danielscott2839 2 жыл бұрын
And one of the private equity firms that took down Toys R Us was Bain Capital. Bain is a firm co-founded by Mitt Romney, previously the Massachusetts governor, 2012 nominee for president and currently the Utah Junior Senator.
@reycaribe
@reycaribe 2 жыл бұрын
ToysRus had an online presence for years. They were even at one time the exclusive toy supplier for Amazon back in the early 2000s and they were on eBay. They were too slow to ship, didn't focus online, and weren't cheap enough for Amazon but it's not like they never were online.
@slappyfun
@slappyfun 2 жыл бұрын
Yet another reason to see MSM more as PR firms than news outlets.
@peterwolf4230
@peterwolf4230 2 жыл бұрын
Toys R Us I believe was profitable before interest up until the end. It's just they couldn't service the massive interest so bankruptcy was better for them.
@TheoneGodfather
@TheoneGodfather 5 ай бұрын
You ever wonder how a politician turns into a multi millionaire on a yearly salary of around 150k?
@JustinWhyte
@JustinWhyte 2 жыл бұрын
This is the best KZbin video I have seen in a long time. Private Equity has done a number on my Family and me a few times. The last time was in the middle of the pandemic and I was killing it at my work. It doesn't matter how good you are. Americans want to believe that you can work hard and be successful, but Private Equity completely kills that idea. You're ballast, whether or not your ship is sinking. The teacher at the end is the absolute best. I was raising my fist with her. Thanks for making this.
@yolyrom7233
@yolyrom7233 2 жыл бұрын
Ikr
@LostLeftyLimb
@LostLeftyLimb 2 жыл бұрын
Well said.
@TheGbelcher
@TheGbelcher 2 жыл бұрын
It’s a nice narrative but it makes zero sense when you actually think about it. If private equity didn’t make money nobody would invest in it. Does anyone actually think the managers managing these pension funds are that stupid? This is framed completely wrong. The point of PE funds isn’t to beat the stock market, it’s to be an alternative, meaning not correlated not necessarily better every single year And these so called “hidden fees” aren’t hidden at all. They are well documented and easily discovered. If teachers and nurses want their pensions invested differently they should talk to their employers and unions. It’s that simple. There’s no conspiracy here. This is very misleading. Entertaining, but not completely or entirely true.
@stoodmuffinpersonal3144
@stoodmuffinpersonal3144 2 жыл бұрын
We would "torch and pitchforks," about this nonsense. This is getting exceptionally out of hand
@davidgill3356
@davidgill3356 2 жыл бұрын
Completely kills that concept, except it doesn’t. If you aren’t a publicly traded company or are and control enough stock to control the board there is nothing private equity can do. Alternatively there are many many people who have become very wealthy by building businesses and selling them to PE firms. Yes, people at the lower levels aren’t going to make out well, but they aren’t going to be lighting the world on fire working for a wage anyway.
@Robynhoodlum
@Robynhoodlum 9 ай бұрын
I started working at Petsmart in 2015 as a grooming assistant/ "bather". I quickly moved to small animals and stayed there for 3 years. We had a great store manager then who shielded the store from most of the BS. That said, I’m glad I left when he did. He got moved to a crappy store and then got fired for a grooming dog death (not his fault but someone had to be on the chopping block). I will tell you this, Grooming deaths are 100% due to time pressures. Most dogs are put in kennels with blowers to dry, allowing multiple appointments at a time. However, certain breeds CANNOT be put in these drying kennels or they will overheat. This is also why we weren’t allowed to accept sedated dogs (which led to owners lying about sedation). An overworked bather can forget to go back and turn off the dryer (which is what happened at the store mentioned above) or they can feel pressured to put a vulnerable breed in a dryer because 99.99% of the time the dog will be fine. 😢
@MT_24
@MT_24 4 ай бұрын
And this is why I groom my own dog
@AM-jb7oz
@AM-jb7oz 3 ай бұрын
OMG poor fur babies. I'm sorry to hear about the terrible working conditions.
@Fido-vm9zi
@Fido-vm9zi 3 ай бұрын
Omg....grooming deaths!!!
@--sql
@--sql 2 жыл бұрын
Such a pleasant surprise to see Adam Conover on this channel
@MakeWithMike
@MakeWithMike 2 жыл бұрын
I repair and help rather than sale ! But also look for long term clients rather than a one time deal, very skillful Subs make me full
@jpanokealii4502
@jpanokealii4502 2 жыл бұрын
Me too, always wondered what happened to Adam ruins everything
@stoodmuffinpersonal3144
@stoodmuffinpersonal3144 2 жыл бұрын
I feel like his one evening with a pre out Abbie Thorne may have slowly brought him back to the internet. That's my fan theory, anyway.
@Jinkypigs
@Jinkypigs 2 жыл бұрын
@@TheDarkstarSyndicate LOL. That failure that is the current Joe? LOL
@TadValente
@TadValente 2 жыл бұрын
Shouldn’t be too surprising; Adam is based, after all. Often collabs with explicitly Left-leaning content. Glad to hear him still calling out the BS.
@staticager526
@staticager526 7 ай бұрын
"Hi, I'm Adam Conover and this is Private Equity Ruins Everything"
@pixality7902
@pixality7902 2 жыл бұрын
Was pissed that my company was cutting corners in a highly regulated industry. Started investigating since we had recently been purchased. Owned by a private equity firm. I knew then that they were trying to make us look good in the short term (at the cost of the long term) to flip the company. I left and they were purchased again within a few months. Same shit is going down. Not nursing home/hospital but the same kinds of problems would result from cutting corners.
@lorrainelevis4406
@lorrainelevis4406 2 жыл бұрын
This Game of Companies u speak of has been going on since the late 90's. Tell me. What ever happened to BREAKING UP MONOPOLIES? Clear to see the Globalist massive takeover. Many scrambled to recoup a Proper source of income.in the 2000's. Many Good income workers scrambled and pushed into creatively opening businesses after the 2008 Crash. We Managed! We succeeded! Then The PLANDEMIC hit. ALL THESE people, people nearing retirement age, WERE INTENTIONALLY SHUT DOWN! AND stupid people stopped going outside from PROPIGATED MASS FEAR! PRAY SOMETHING BIG IS NEARING. 2023 WILL BE VERY INTERESTING! GOD IS GOOD! stand tall! Face truth and BE BRAVE!
@bradywilliams2951
@bradywilliams2951 2 жыл бұрын
Exact same thing happened where I used to work. They've been resold twice since I left 4 years ago.
@Blue_Azure101
@Blue_Azure101 Жыл бұрын
Was this a medical device manufacturer
@gabrieljordan8015
@gabrieljordan8015 9 ай бұрын
I wonder if this is why the media has spent so much time focusing on the FTX fallout. It helps to keep us distracted from what else is going on behind the scenes.
@driftingdruid
@driftingdruid 5 ай бұрын
wouldn't surprise me that this is what their PR millions are spent on
@JonMartinYXD
@JonMartinYXD 2 жыл бұрын
The thing with Taylor Swift is yet another reason why copyright law needs to be rewritten. Only people should be able to hold copyrights, copyright should last a fixed term (25 years at the very most), and there should be a 'use it or lose it' rule where the copyright is lost if the copyright holder isn't making the work readily available.
@eleSDSU
@eleSDSU Жыл бұрын
Yes, but there are already "use it or lose it" rules and they are completely worthless since the studios, labels, etc. will just make trash and give it the smallest release and attention to keep the rights. For examples please see Captain America and Fantastic Four versions from the 90s, the funniest examples of avoiding said rules, Captain America's helmet has fake ears.
@JonMartinYXD
@JonMartinYXD Жыл бұрын
@@eleSDSU Those movies weren't made for retaining copyrights, they were made to retain the movie rights that then cash-strapped Marvel sold to 20th Century Fox. The contracts contained use-it-or-lose-it clauses that would have the rights revert back to Marvel should Fox fail to make movies with them. Of course with Disney's acquisition of both Marvel and 20th/21st Century Fox that all became moot and an MCU Fantastic Four movie is in the works.
@goofusmaximus1482
@goofusmaximus1482 11 ай бұрын
We have that to move copyrighted works into the public domain. But that time frame is 95 years! Steamboat Willie just recently entered the public domain.
@juniorbitare3041
@juniorbitare3041 9 ай бұрын
I disagree. The length should be shortened for sure, right now it's ridiculous. However why would you not be able to sell your copy-write?
@JonMartinYXD
@JonMartinYXD 9 ай бұрын
@@juniorbitare3041 Selling copyrights almost invariably ends up going badly for the seller and the marketplace. Why should a copyright holder need to sell? They can grant a publisher permission to produce copies - on whatever terms are agreed - without giving up the copyright.
@bluegillmich
@bluegillmich 8 ай бұрын
We got sold off a couple of years ago ( large soda firm) , now we run the same business but without repairs to machines ( squeezing the profit)..we shall see how long we shall survive.
@ps1999
@ps1999 2 жыл бұрын
Absolutely right! JoAnn Fabrics was taken over in 2011 and the equity firm that bought them drove it right into the ground everything you said in your video happened at JoAnn's. They screwed full-time employs by reclassifying everyone's job and made a third of the full-time positions part time take or leave it. Continually cutting payroll hours on top of that every year to the point theft has gone through the roof some stores reporting 4% shrink or higher. I would be surprised if JoAnn fabric makes it through the year with out going bankrupt. There just aren't enough employs there to put product out on the sales floor. If it weren't for the mostly friendly and dedicated old timers of the staff, I wouldn't ever shop there again. That is just one company I can think of off the top of my head, that has been ruined by private equity. There needs to be federal regulation on these predatory capitalists, they are tanking our economy.
@julietardos5044
@julietardos5044 2 жыл бұрын
Holy $#!+. That explains why the local JoAnn's sucks so bad. Understaffed, always has a "now hiring" sign, but their website never has job openings. And their bathroom always stinks like no one ever cleans it.
@ps1999
@ps1999 2 жыл бұрын
Wow, sounds like it varied from store to store. The stores I am familiar with at least the staff tried to keep up, until about a year or so ago when the upper management attacked the full time staff again restructured the job titles again. After that the moral in the store was completely gone. Sears, JC Penny, how many other retailers are looking at such a bleak future because of such over sight and greed? I have seen many friendly faces of employees leave JoAnn's over the last year, they must know a lot more then they are letting on.
@safrizzell
@safrizzell 2 жыл бұрын
I was at a JoAnns yesterday. Your comment explains what happened to the store over the years. I just assumed everything went downhill with Covid, but things were getting bad long before the pandemic.
@ps1999
@ps1999 2 жыл бұрын
@@safrizzell Yep. Both of the stores near me I have shopped in the past have experienced the same stresses on the staff, cut backs to the point of break and beyond.
@rosariocannistraro3561
@rosariocannistraro3561 2 жыл бұрын
KMart / Sears/ Kay-bee toys ....the hit list goes on and on that they destroyed with these scams .
@andrewy9366
@andrewy9366 2 жыл бұрын
Something that is glossed over and not talked about, the people handing over pension money to these private equity funds. People are also paid a large some of money to oversee where large pension money is invested. Why are they also not being held accountable? Are they also getting a kickback for handing over teachers retirement money to shady equity firms?
@americanpatriot8996
@americanpatriot8996 2 жыл бұрын
Sum of money
@capngrace84
@capngrace84 2 жыл бұрын
Everyone wants to be the next Bernie Madoff
@yolyrom7233
@yolyrom7233 2 жыл бұрын
Well said!!
@andrewfiles4184
@andrewfiles4184 2 жыл бұрын
@Nicholas Time that wasn’t the question..
@Toddzmom01
@Toddzmom01 2 жыл бұрын
Who's actually saying OK to put money into PE? Where was Taylor's manager? Where were the finance people for toys r us etc? Seems a bunch incompetent people in businesses to fall for PE takeover.
@dbrxsdgo
@dbrxsdgo 2 жыл бұрын
Thanks for bringing this to light. Just another example of flat out greed. And again, as a society we've placed and glorified being wealthy, rich, etc. and all that we're told that it should mean. Insane.
@denelson83
@denelson83 Жыл бұрын
Why else do you think greed is one of the _seven deadly sins?_
@KawaiiFireMoon
@KawaiiFireMoon Жыл бұрын
Bring back Nobless Oblige basically with great power comes great responsibility. Be worth your worth
@stephenphillips6245
@stephenphillips6245 7 ай бұрын
Sears used to have profit sharing in the 50's the vulture company that bought them loaded them up with debt and sold the stores off for pennies...terrible ending for a decent company.
@Starflare5
@Starflare5 9 ай бұрын
I work for an absolutely great company called installation service Technologies . The owner of the company sold out to a private Equity Firm and within one year the company closed. I literally went from having a great job to having no job when I moved to California even though I was promised one because the company was in the process of closing. IST was the biggest in the industry at the time and the company was destroyed in one year.
@TAEYYO
@TAEYYO Ай бұрын
I'm confused. WHY do companies sell to private equity firms? It sounds like it means THEY are now paying to be bought? How would this ever be attractive to anyone? I just want to understand because it sounds completely absurd.
@crimsonwolf9099
@crimsonwolf9099 2 жыл бұрын
Is there even ONE major problem locally or internationally that is NOT caused, directly or indirectly, by the corporate system? I can't think of one.
@k31than
@k31than 2 жыл бұрын
Only crime a person is allowed [by the government] to commit is white collar crime.
@snmrrw
@snmrrw 2 жыл бұрын
earthquakes? really can't think of anything else lol
@SamanthaBartonYAY
@SamanthaBartonYAY 2 жыл бұрын
@@snmrrw well apprently climate change can impact small earthquakes so they can kinda be
@kathyborthwick6738LakotaEmoji
@kathyborthwick6738LakotaEmoji 2 жыл бұрын
Very well stated!
@rdean150
@rdean150 2 жыл бұрын
@@SamanthaBartonYAY Yep, the melting of the ice caps has caused a decrease in the downward pressure exerted on tectonic plates, allowing the plates to shift more easily, which leads to earthquakes. Also, in a more localized sense, fracking often directly leads to small earthquakes. It's been happening a lot in West Texas in the past couple of years, actually. That area never used to have earthquakes - it's not near any fault lines - but there have been dozens of small earthquakes in recent years because of the fracking.
@ts109
@ts109 2 жыл бұрын
The scariest thing i have heard in a long time is private equaty firms like blackrock funding and influencing AI ethics research in the leading universities.
@davisholman8149
@davisholman8149 2 жыл бұрын
I worry about the ones buying up new middle class houses by the thousands directly from builders - then renting them out. The average American cannot afford to buy in some cities - but will get stuck with Blackrock as their landlord.🤬
@juniorbitare3041
@juniorbitare3041 9 ай бұрын
Well Blackrock is not really a private equity company. However Blackstone is.
@TheRoland444
@TheRoland444 7 ай бұрын
What ethics?
@eyeseer1
@eyeseer1 3 ай бұрын
BlackRock along with State Street and Vanguard are in the same boat.
@Cross_Malaki
@Cross_Malaki 3 ай бұрын
Private Equity owns the company I work at. That's why your package gets thrown around so much. We're not paid enough care, not given enough time to do it right, and there aren't enough of us to correct either of these problems.
@kec7116
@kec7116 Жыл бұрын
For years I got Architectural Digest. In the 90s homes featured were owned by those who actually made things. By the 2000s it switched to homes owned by hedge fund and private equity. Having had a relative who worked at TWA where Carl Icahn took an iconic company and ran it into the ground for its pension and planes, I knew the trend I saw wasn’t good
@TitaniaBird
@TitaniaBird 2 жыл бұрын
I have seen firsthand how private equity kills businesses, because I used to work for Kmart. Kmart was bought out by Sears Holding Company in a leveraged buyout, and they cannibalized the company while I worked there. In particular, the electronic department, once one of Kmart and Sears' signature departments, was destroyed. Oh, they blamed online sales and digital game markets, but when they stopped shipping games and consoles, I knew they were sabotaging us. Then they moved in appliances to that area. Then they started a lease-to-own scheme that was poorly explained and didn't even work (and that targeted lower-income folks who weren't wise enough to realize how much of a scam they were). They spent no money on basic upkeep and upgrades; the cash registers were the same ones used at the Kmart I worked at's previous location in the '90s, just running only slightly less out-of-date software (and the machines crashed almost daily). It was no surprise when that Kmart died, except in that it lasted longer than I thought it would. It outlived Kmarts in larger cities, and the only reason for that is because there wasn't a Walmart or Target in town. (But there *were* Walmart Supercenters 20 miles away in either direction.)
@AllenFreemanMediaGuru
@AllenFreemanMediaGuru 2 жыл бұрын
My wife’s father worked many years at K-Mart corporate and when he retired they took away his pension money.
@davisholman8149
@davisholman8149 2 жыл бұрын
@@AllenFreemanMediaGuru Wow - how did they get buy with that?😡 I hate it when a regular hardworking American gets the shaft.
@donquique1
@donquique1 Жыл бұрын
Eddie Lampert from Goldman sachs bought them as a real estate play. He was not interested in making a good store, he wanted to sell the assets piece by piece.
@johndavis6119
@johndavis6119 2 жыл бұрын
This won't change until we get The Money out of politics. The Money won't allow anything to change here.
@THE-X-Force
@THE-X-Force 2 жыл бұрын
That is exactly correct. Citizens United must be reversed.
@eyeseer1
@eyeseer1 2 жыл бұрын
Politics has been bought and sold since Richard Nixon was compromised.
@kevmontgomery4849
@kevmontgomery4849 2 жыл бұрын
Won't happen because politics is about money
@TheRoland444
@TheRoland444 7 ай бұрын
Can't do that under the present system.
@eyeseer1
@eyeseer1 3 ай бұрын
Government is a corporation and the Federal Reserve is a corporation that controls your wallet.
@laurakrajnikburick2731
@laurakrajnikburick2731 5 ай бұрын
Those private equity firms are now doing this to county services such as water and electric services in states. They up the prices outrageously.
@jessiewilliams3845
@jessiewilliams3845 5 ай бұрын
Research government agencies that are outsourced and studies that show it is not cost effective. Fight against the sellout by government to robber barons. It is very expensive. Your county commission officials are so easy to plunder most have no executive experience. Vote for better, smarter candidates too.
@leelindsay5618
@leelindsay5618 2 жыл бұрын
The business loan sharks that work like payday loans include OnDeck - they literally charge $4000 on a $5000 loan...so you borrow $5000 and have to pay back $9000. How does that help a small business?
@yolyrom7233
@yolyrom7233 2 жыл бұрын
Omg
@CookieFACE123
@CookieFACE123 2 жыл бұрын
Bro if a business owner is stupid enough to take on a loan with such massive amounts of interest, then they deserve to go bankrupt.
@josephmarkese8563
@josephmarkese8563 2 жыл бұрын
That's why these assessments are like the Mob.
@eyeseer1
@eyeseer1 2 жыл бұрын
It doesn’t it’s usury and loan shark infiltration.
@TheUllrichj
@TheUllrichj 2 жыл бұрын
Desperate people make poor decisions. Also people don’t understand how interest is computed.
@k31than
@k31than 2 жыл бұрын
To think that I just finished watching a video [w/ Jon Stewart talking] about stocks and learned how evil hedge fund managers are, now I just learned about another evil in the form of private equities.
@stoodmuffinpersonal3144
@stoodmuffinpersonal3144 2 жыл бұрын
These guys may be worse. But we need both as much as we need Lyme disease. I hope these guys burn in hell for thousands of millions of years
@maxwell4431
@maxwell4431 2 жыл бұрын
wish finance is being taught in highschool. The kids these days with access to tools and ability to organize outside of class, can probably come up with some ingenious solutions. Wanting to organize anything while still having to work the 9-5 makes it tremendously difficult. they got us by the ba**s
@1O1O11
@1O1O11 2 жыл бұрын
@@maxwell4431 I used to teach an economics class for elementary school students. Gotta get them started young. 9 year old kids get really invested into their toy money, and nothing teaches them faster than when you take that money through predatory loans or other scams. They always came back the next week knowing "I'm not going to do that again..." At the very least they now know there is no such thing as free money. But then got the hell out of Shanghai, because the government locked us all inside for 75 days... Not the safest place to be a foreign teacher anymore.
@neolordie
@neolordie 2 жыл бұрын
@@maxwell4431 school is getting less and less funding every year, that's why no one has critical thinking skills in the us, the primary goal isn't to educate, it's to create workers, and they can lie about history in the process
@Glmorrs1
@Glmorrs1 Жыл бұрын
@@maxwell4431 From what I can tell, the kids these days do have a proposed solution, and it’s a pretty good one: Get rid of capitalism.
@graffitiwomen
@graffitiwomen 2 жыл бұрын
We gotta TAKE THE POWER BACK! I just looked up whether my employer was owned by a private equity firm, and 😌*sigh of relief*, they turned down an offer this spring! Thank goodness, because I actually like my job for once and am getting paid decently for my work.
@parvenhumdinger2245
@parvenhumdinger2245 2 жыл бұрын
where do you work
@lstump4482
@lstump4482 2 жыл бұрын
Makes sense that it isn’t owned by PE then
@funveeable
@funveeable 2 жыл бұрын
Nope. You will never get the power back. You have your anger aimed at the corrupt businessmen when it is the corrupt government that protects them. When the businessmen are removed, the corrupt government will remain to cover for the next billionaire that wants to extract your wealth. And you will attack the businessman all over again so the cycle can continue.
@ps1999
@ps1999 2 жыл бұрын
Absolutely you should know who you work for. I won't work for one of those again, twice I have been caught in as a company has been sold off to private equity, it reined both companies for the employees. If your looking for a job make sure that it's not private equity owned.
@directActionGaming-4u
@directActionGaming-4u 3 ай бұрын
This is giving me "Prager U but actually educational" vibes and I LOVE it!!!!!!
@alkaholic4848
@alkaholic4848 2 жыл бұрын
I worked at a retailer - Maplin Electronics (UK) - and saw all this happen first hand. I hadn't watched this vid at the time because it was many years ago, I had little understanding of financial systems, politics, stocks, equity, etc. But even then, I saw through it. I remember saying to colleagues hang on so Montague (the private equity firm) took out a loan to buy Maplin, and they would pay back (capital and interest) that loan with profits from Maplin, and the security on the loan is Maplin (assets). How is that ok!? They're basically taking a business in very good condition and plunging it into million pounds of debt with no benefit to the business, and without putting anything in themselves or taking any risks themselves. And sure enough over the next decade roughly we saw the initial boom as it was very profitable at the time, which they used to fuel unsustainable growth in order to sell the company for more than they bought it, then when it all caught up with them (it had changed hands by this time to another private equity firm) and went out of business they blamed competition from ecommerce, the recession, and various other excuses. The real reason - being screwed over by private equity owners and being run by incompetent managers - was swept under the rug.
@VeteranVandal
@VeteranVandal 2 жыл бұрын
Ah, but you see, the whole conversation about risks and rewards in capitalism is bullshit. Rich people simply are prevented from ever having risks.
@alishaygan9844
@alishaygan9844 2 жыл бұрын
@@VeteranVandal Absolutely! You nailed it with that one. From government bailouts to investing in secret structures like PE firms, they are guaranteed to not have to invest or risk their own money but reap all the financial windfall of other people’s life savings and life long work.
@rovermiles1
@rovermiles1 Жыл бұрын
Adam, the real issue here isn't the organizations doing the buyouts; it's the "supposed" top ranking executives and board members of these companies being bought out who are at fault. If your company is doing well, then why are you voting to take the buyout/loan? These private equity firms can't make you take the loan, the company and/ or the shareholders vote for it. Thank you for the educational moment as people ought to k ow that the purchased company can say no. The problem hurting these businesses is that everyone wants immediate returns (instant gratification). If top execs could look actually 5 - 10 years out, they'd probably vote "no" on these buyouts, but instead everyone looks at the quarters and annuals.
@watchm4ker
@watchm4ker 8 ай бұрын
The problem is that capital gains have supplanted dividends as a means of profiting from an investment. A leveraged buyout is *extremely* lucrative for the shareholders, as the PE firm can afford to inflate the price. Conversely, refusing such a buyout might lead to a revolt from shareholders hoping for a piece of the action, and tossing out execs until they find someone who *will* approve the deal.
@Treegona
@Treegona 2 жыл бұрын
I'm surprised this didn't cover how local newspapers are being hollowed out, and what damage that does to public discourse, accountability and ultimately democracy.
@danmallery9142
@danmallery9142 2 жыл бұрын
I think Adam did a video on that. Might check his channel
@CHMichael
@CHMichael 2 жыл бұрын
Do you still have a subscription to your local paper? If yes then you are in a minority.
@kichigan1
@kichigan1 Жыл бұрын
Thanks for mentioning this. In North Carolina, I have to go look for outside the state news to know about what's going on in here. The press pretty much is owned by people who don't want us to know.
@denelson83
@denelson83 Жыл бұрын
Billionaires do not want democracy. They want total control. They want world domination.
@tooltroll
@tooltroll 8 ай бұрын
Things will not get better until article 1, paragraph 1, clause 1, line 1 of the law is "Don't believe rich peoples' bullshit."
@kennethbaird968
@kennethbaird968 2 жыл бұрын
This is nothing less than a crime. It should be stamped out and punitive tax laws need to be bought in to claw back the money taken buy these crooks. The individuals who engineer this fraud have to be held to account . They mustn’t be allowed to hide behind an unjust law.
@oldtyger
@oldtyger Жыл бұрын
The problem is the crooked politicians in bed with these guys
@TheSoonToBePurgedJackMeHoff55
@TheSoonToBePurgedJackMeHoff55 Жыл бұрын
Maybe you shouldn't just believe everything this guy says
@angercatalyst
@angercatalyst Жыл бұрын
@@TheSoonToBePurgedJackMeHoff55 for real, this guy is wrong far more often than he's right, watch any of the debates he's been in and he folds every time.
@julietfischer5056
@julietfischer5056 Жыл бұрын
@@TheSoonToBePurgedJackMeHoff55- Do you have any counter to what he says? Evidence that this is _not_ how private equity firms operate?
@julietfischer5056
@julietfischer5056 Жыл бұрын
@@angercatalyst- Show us how private-equity firms do _not_ destroy companies, then.
@WolvenSpectre
@WolvenSpectre 2 жыл бұрын
They also buy companies that have lots of stores or locations that are valuable for lease to franchisees and when they get the business in a bad place they sell the most vauable pieces off to pay down debt AFTER making sure to pay themselves with bonuses and fees and well what do you know it doesn't lower the debt any. Also income is reduced and they have an excuse to lay off more people to pay down debts/reduce overhead and wait.... that's gone too.
@dorianodet8064
@dorianodet8064 2 жыл бұрын
You're digging a tiny bit of the finance world, but you could sum it up in a very single way : There is four way for investement firm to "beat the market" : 1 - Being good at gambling and/or finding undervalued companies (it's doesn't happen) 2 - Creating monopoly/sizing up companies until the economy of scale raise their benefit (Not great on the long run and it's harder to do since the market have been hugely consolidated already) 3 - Buying a struggling/underperforming company and restructurating it (This one can be good and performant, but it require a very skilled investor, not just a bunch of banker) and finally, the one we mosly see 4 - 5 to 10 years squeezing strategy : Buying a company which basic are strong enough to keep running even you squeeze the hell out of it, slowly destroying it in the process, and selling it before the crack show to a sucker or to the general stock market
@EpicMiniMeatwad
@EpicMiniMeatwad 2 жыл бұрын
Ah, capitalism. Where "profit motive" dictates nothing related to enhancing the human experience, it's merely a side effect.
@alexcisneros2980
@alexcisneros2980 2 жыл бұрын
Four ways are the best ways!
@lukazupie7220
@lukazupie7220 2 жыл бұрын
@@EpicMiniMeatwadyet this side effect is much better than socialism.. that is how powerful freedom is.
@dorianodet8064
@dorianodet8064 2 жыл бұрын
@@lukazupie7220 One day murican will make the difference between socialism and communism I hope. One day.
@funveeable
@funveeable 2 жыл бұрын
@@dorianodet8064 they are one and the same. Real capitalism has never been tried before so you never see how amazing it truly is.
@watamatafoyu
@watamatafoyu 8 ай бұрын
People think private equity naturally creates quality and good wages through market forces but instead it sacrifices those things to maximizie profit.
@LauraB.335
@LauraB.335 3 ай бұрын
Who actually thinks this? Sounds like what PE says to make them sound good to someone who doesn’t know the difference. I think they’re greedy MFers who can’t seem to get enough and are willing to destroy anything/anyone in the process.
@tinaperez7393
@tinaperez7393 2 ай бұрын
And it's not even using natural "market forces". They're using completely unnatural, artificial market forces - or rather available options - that private equity CREATED BY MAKING THOSE OPTIONS - OR "MARKET FORCES" LEGAL IN THE FIRST PLACE. There should be a term for it - ethical versus unethical capitalism. For when just because it's legal doesn't mean it's right, fair or just. - doesn't mean it SHOULD be legal.
@tbgold07
@tbgold07 2 жыл бұрын
Adam ruins private equity
@GoryionB
@GoryionB 9 ай бұрын
I've always said, "We have the best government money can buy."
@cebenify
@cebenify 2 жыл бұрын
Since Blackstone is a Private Equity Firm, I assume they used these methods to become the largest landlords in America. I don't mind screwing over landlords, but I don't need more corporate consolidation.
@grmpEqweer
@grmpEqweer 2 жыл бұрын
Iirc, that occurred after the 2008 crash. All those defaulted mortgages meant they cleaned up.
@noodletropic
@noodletropic 2 жыл бұрын
Try and screw Kushner, Donald or Blackstone and see what happens. But thieves like you, always pray on the weak.
@cebenify
@cebenify 2 жыл бұрын
@@noodletropic ah yes. Go and admire these capitalists and their pathetic companies. Don't notice when they come for your house too
@danmallery9142
@danmallery9142 2 жыл бұрын
Adam did a pretty horrifying video on Blackstone, as well.
@jessh4016
@jessh4016 Жыл бұрын
@@grmpEqweer And covid.
@JongiB96
@JongiB96 2 ай бұрын
"Dead puppies don't do it for ya? Well, how about hugely popular singer-songwriters?" Absolutely iconic quote.
@chrisneira4306
@chrisneira4306 2 жыл бұрын
it's awesome to see this channel grow
@Markhope-e3z
@Markhope-e3z 2 жыл бұрын
kzbin.info/www/bejne/bHiWn4qvpLZoebM
@LuisLopez2
@LuisLopez2 2 жыл бұрын
Not fast enough IMO
@TomHendricksMusea
@TomHendricksMusea 2 жыл бұрын
The paradigm is now corporations versus people for control of the government . Great video!
@elizabethtrue6376
@elizabethtrue6376 2 жыл бұрын
Buyout of America by Josh Kosman laid this out really well, in esp horrifying detail as it relates to healthcare
@sarahmanalapan8443
@sarahmanalapan8443 2 жыл бұрын
Could you link this ill try but im afraid ill loose you.
@metaleggman18
@metaleggman18 3 ай бұрын
Every corporation's goal is to increase profits and decrease debt. There's nothing unique about this to companies that are bought out. Private companies can do what they want, but public companies have a fiduciary duty to their shareholders, not their employees. Like this is the most insane way of avoiding saying we're in late-stage capitalism because you're still a devout capitalist, you just want your slice of the pie.
@gregoryrau3894
@gregoryrau3894 2 жыл бұрын
I'm really not sure how a governmental solution exists to this problem, when Adam just got done explaining why our lawmakers won't do anything about private equity.
@noodletropic
@noodletropic 2 жыл бұрын
How about not funding them blindly. Warren Buffett will not. You head in the video what he said.
@Fenriswaffle
@Fenriswaffle Жыл бұрын
I'm reminded that a company I worked for was bought out by a PE firm around the end of my employment there (Covid-19 pulled that rug out from under me). After years trying to get back with that company because it was genuinely one of the first I enjoyed working at, I find out by other channels that the entire department I had worked for had been outsourced. In retrospect I should have seen the writing on the wall when other departments were "gaining" outsourced employees, it would have certainly saved me a lot of time and grief. Thankfully I make more working an overall better job, but it sucks seeing what private equity does to hollow out companies and destroy them. This is also a wrinkle that I had never known about Toys'R'Us, I had assumed they just made the wrong choice when online commerce started becoming commonplace, but of course its more complicated and infuriating than that...
@Stev607aqr
@Stev607aqr 9 ай бұрын
This is literally the plot line of a Sopranos episode called "Bust Out". Tony and the boys take over a sporting goods store. The owner started with bad gambling debts. They took over the store and used all his credit etc.
@RicardaWindsheimer
@RicardaWindsheimer 2 ай бұрын
Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.
@SarachiWowa
@SarachiWowa 2 ай бұрын
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
@Agatha.wayne0
@Agatha.wayne0 2 ай бұрын
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
@Dave_East
@Dave_East 2 ай бұрын
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
@Agatha.wayne0
@Agatha.wayne0 2 ай бұрын
“Stacy Lynn Staples ” is the licensed adviser I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@GersderaNioer
@GersderaNioer 2 ай бұрын
Thanks for this. could easily spot her website just after inputting her full name on my browser. she replied my inquiry and we scheduled a consulting session sometime tomorrow.
@dayhefner
@dayhefner 2 жыл бұрын
“The actual investors in these funds aren’t billionaires; they’re people who actually matter.” 😂 Savage AF and I am here for it.
@wendwllhickey6426
@wendwllhickey6426 Жыл бұрын
No one in government gives a shit ,there getting paid with free health care.
@kylenolan3138
@kylenolan3138 2 жыл бұрын
I worked for 3 companies over 10 yrs but my office never moved. 2 LBOs. I was the last man out the door after selling off the minor assets and failing to find a buyer for the building. The last of these companies was a fortune 500 Co that had paid consistent dividends for 65 yrs. It went bankrupt.
@beastbest8110
@beastbest8110 2 жыл бұрын
I love this channel eye opener and I'm not surprised in regards to private equity all of it creative terms to rip u off quietly
@Hippitidippity
@Hippitidippity 23 күн бұрын
Can we also point out how these private equities are also purchasing up all of our homes in our neighborhoods to rent back for ridiculous prices leaving us less to buy in our communities
@richardmitchell8907
@richardmitchell8907 2 жыл бұрын
I am stunned. I had no idea such things were possible. I will be contacting my financial advisor next week to see where these firms are and if I have any connection to them in my portfolio. Thank you.
@unicornglamor7407
@unicornglamor7407 Жыл бұрын
Were you able to extract your portfolio from PE firms?
@darbyheavey406
@darbyheavey406 Жыл бұрын
Very little PE Exposure in retail investing.
@levistoner
@levistoner Жыл бұрын
I’d say the chances are 100% that your money is invested in funds managed by Black Rock. They are into everything.
@timwilson1750
@timwilson1750 Жыл бұрын
Pro-tip, you dont. Generally these guys are in PRIVATE market. Hence the name. So if you are dealing with typical advisor, you are not gaining exposure to any private equities...
@dareese6778
@dareese6778 8 ай бұрын
Advisor? Be careful.
@davidknightx
@davidknightx 9 ай бұрын
This happened to Albertsons. Everything Adam said happens happened to them. I saw it all first hand. I told the boss of my new job after I was laid off that I will quit if I ever I ever hear they sold themselves off to PE.
@kingpest13
@kingpest13 2 жыл бұрын
Don't let politicians tell you regulations are bad. No regulations is how you get superfund sites.
@lostbutfreesoul
@lostbutfreesoul 2 жыл бұрын
I will always find it strange when someone in government says 'let us have no power here....' "Politician behaving Sus here!"
@pktdbgnzwl
@pktdbgnzwl Жыл бұрын
No Regs is also how you get Predatory Lending.
@JusticeAlways
@JusticeAlways Жыл бұрын
@@pktdbgnzwl Borrow....and you'll die. 🙄
@winesap2
@winesap2 3 ай бұрын
So successful businesses go bankrupt, prices go up, wages go down, private equity walks away with a hefty profit, and then the taxpayers pay for the bankruptcy.
@TheOG-GG
@TheOG-GG 9 ай бұрын
Oh Adam I love you! Lifespan termination agreement 😂😂. These criminals are so good at marketing that the authorities don't even realize that they are criminals!
@linuxman0
@linuxman0 2 жыл бұрын
I lost my job with a popular web hosting service after it was bought out by a private equity firm shown in this video. The idea was sold as a way to help the company go private again. About 4 months later, I was shown the door!! I see now that this is becoming a bigger and bigger problem as this video has really opened my eyes.
@YuukitheMighty1
@YuukitheMighty1 2 жыл бұрын
today's episode in why capitalism screws us all.
@VeteranVandal
@VeteranVandal 2 жыл бұрын
Yet again.
@tinaperez7393
@tinaperez7393 2 ай бұрын
That's not true. Capitalism is and CAN be very good and useful. Capitalism has fueled most of the innovation and material, medical, and scientific & technogical progress in the world. What's needed is for people to understand capitalism in more nuanced ways. It's not that capitalism is bad or good, it's that there are different kinds of capitalism and it's the different kinds that are bad or good. Like the best, most healthy economies - where there's still a healthy profit incentive and incentives to make, build, create, innovate, make more efficient, solve problems etc. yet still have common sense necessary protections for workers that allow them to be safe, have a life, and thrive as well. Where businesses creators and owners and inventors can achieve the "American dream" but where so can most workers FOR those businesses. That sort of thing. And where the best societies are made of mixed economies of common sense, just and fairly regulated and fairly taxed capitalism with essential services being public sector (gasp "SOCIALIST!!!") like a schools, roads, other key infrastructure, trash and sewer, water treatment, municipal and state services, reasonable utilities, healthcare, prisons, police and military -- those things should not be for profit for obvious reasons - run and gun tape and pillage slave labor and private equity style corrupt, crony and unregulated (or not enough) capitalism, much less corrupt, price fixing, anti competition, monopolistic capitalism in those sectors would obviously be awful, and is now where that exists and would have and has serious consequences for the average person / citizens. So it's not that capitalism is bad (we have tech and modern medicine and I have contact lenses in large part because of capitalism), it's what KIND of capitalism do we want and should have? Because some kids are the rape and pillage run and gun exploitation of everything and everyone kind for the short or sometimes longer term profits of a very few. Or a fairer more just and equitable capitalism that works for everyone. -- Except that there might be a few less billionaires, much less multi multi billionaires and their future generations of family members who are inherited multi billionaires. It's the billionaire class that's controlling the political messaging in this country and that message is the excessively loud and blinding "socialism bad!" to the right and "capitalism bad!" to the left. -- purposefully distracting the masses fooled by this from the truth - that neither one is bad, it's how their used, what for and what KINDS of socialism and capitalism. Cuz a mix of the good kinds of both is the best and what America really needs to "be great again'. There's a huge difference between good capitalism and bad capitalism. You can see that in the comments here - so many stories of the good kind of capitalism - excellent, profitable, innovative, competitive and well managed companies and businesses that people were proud to work for and could even do well and retire well from working at, and then, the bad kind of capitalism - private equity - buying them out or rather leveraged buy out, and boom screw years later the company no longer exists because PE ran them into the ground and destroyed them.
@Metalbass10000
@Metalbass10000 Ай бұрын
Private equity firms are responsible for many of the housing problems in America, especially the increases in rents and home costs. Look it up.
@fetlock
@fetlock 2 жыл бұрын
So infuriating and so information packed, thank you.
@JusticeAlways
@JusticeAlways Жыл бұрын
Truly a very important video...wish more people would watch it.
@pblmrt
@pblmrt 9 ай бұрын
I see this happening not just in the US but outside of it as well in Central and Southern American countries. Some of these countries have leaders who will do anything to get American private equities to come over and say "It will grow businesses". The reality is that they won't and will be taken advantage of by the rich of the richest and lose a lot of services those countries need due to these tactics.
@ronjr831
@ronjr831 Жыл бұрын
The long ago robber barons are back with a vengeance ! Very good video. Thanks.
@stephansteele657
@stephansteele657 3 ай бұрын
It’s crazy that this video doesn’t even mention private equity’s involvement in, and negative effect on the housing market. These firms are predatory in every possible way.
@cinemaipswich4636
@cinemaipswich4636 Жыл бұрын
As Taylor Swift escapes her previous contract, she went and re-recorded all her music. No profits to those corporate vampire's and the new recordings are collectors items. There used to be lots of banks, finance co, insurers, cable co, telecoms, retailers, wholesalers, energy retailers, utility companies. Now there are less. Monopolies, Duopolies and the like, will take over your life.
@blueblousedesigns
@blueblousedesigns 2 жыл бұрын
I used to know a nurse's aid at a psych hospital who was once a PetSmart groomer. He said that the pay was the same per hour for both jobs. I didn't know the going rate back in 2012
@LostLeftyLimb
@LostLeftyLimb 2 жыл бұрын
It is literally a zero risk game they’ve created for themselves. It’s incredible that this is legal what so ever.
@christopherconcept926
@christopherconcept926 3 ай бұрын
There is risk…. Fund underperforms, investors redeem, Fund closes
@minder5066
@minder5066 4 күн бұрын
My wife has worked for her company for 10 years. A couple years ago it was bought by a private equity firm and it slowly started to crumble. She was laid off yesterday along with basically the entire American customer service team. The CEO was laid off. She was almost offered another position but they chose a different candidate, but that was a blessing in disguise because she never would have felt secure in her job. Once the CEO is laid off, nobody is safe. She got a $7,000 severance package which will be heavily taxed and she will never find a job that pays as much as she was making. 10 years of raises are gone and now she has to start over
@skyraider1656
@skyraider1656 Жыл бұрын
I used to work for a company that was bought out in the mid 1990’s by THE CARLISLE GROUP and by 2010 they went bankrupt. I was lucky, I retired 4 months before they went bankrupt. Eventually what was once an innovative company went out of business.
@foxstele
@foxstele 2 жыл бұрын
A good way to tell a company is about to go under, when they hire a hedge fund manager as CEO.
@donquique1
@donquique1 Жыл бұрын
Eddie Lampert at sears is the poster child. Kramer said he was a genius.....
@jamespossible2601
@jamespossible2601 2 жыл бұрын
I've been talking about this for years and most people think I'm being an idiot. Thank for this video, so damn important.
@NotWhoYouThoughtRU
@NotWhoYouThoughtRU 3 ай бұрын
I am 3:14 seconds into this video and the speaker is cracking me up! Dude, your mannerisms, your facial expressions, the shit and hair are fucking great! Seriously, not at all slamming you whatsoever!! There are some individuals who can pull off be animated but there are A LOT that cannot. You have that shit mastered to a “T” hard stop!😆
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Рет қаралды 170 М.