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Corporate greed


Corporate greed
This spring, 166 workers in Janesville, Wisconsin awoke to a nightmare.
OpenGate Capital, the private equity firm that owns their employer, Hufcor, announced it was moving their plant out of Janesville – taking those workers’ jobs and livelihoods with it. It’s the biggest business closure in Janesville since the Great Recession.
This isn’t just another story about corporate globalization or pandemic upheaval. It’s a story about predatory private equity run amok.
In too many cases with private equity, big firms acquire businesses and squeeze them for cash, routinely causing bankruptcies. OpenGate Capital, a Los Angeles firm that amassed $5 billion in revenue during its first decade in business, has run exactly that playbook in Janesville since acquiring Hufcor in 2017. ....

United States , Los Angeles , Tim Cullen , Andrew Nikou , Gate Capital , State Senator , Golden Guernsey , Fusion Paperboard , ஒன்றுபட்டது மாநிலங்களில் , லாஸ் ஏஞ்சல்ஸ் , நேரம் கல்லன் , வாயில் மூலதனம் , நிலை செனட்டர் , தங்கம் கர்ந்ஸீ , இணைவு காகித அட்டை ,