Private Equity Firms are Modern Day Vampires Sucking the Lifeblood Out of Our Society

Deadspin is the latest victim of private equity. Labor writer and activist Kim Kelly warns us that these 21st century “private equity vampires” have to be controlled.

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Author: phillyfinest369


43 thoughts on “Private Equity Firms are Modern Day Vampires Sucking the Lifeblood Out of Our Society

  1. I worked for a nice little healthcare clinic in the West that was taken over by a private equity vampire firm from the East. They bought us out and then turned around and began charging the doctors collectively 2 million dollars a year for a "management fee" – keep in mind this was a small clinic and that was pretty much all of their profit each year. The PE firm didn't care about patients they only cared about how much money they could suck out of the clinic. I worked in finance for the original clinic and the PE firm got rid of me because I called out their BS when they basically tried to steal more money from the doctors. When I left I was making more money than the doctors because their pay was based on profits of the clinic, but now all those profits went straight to the PE firms, so in actuality the doctors were making 0 and in fact building up debt owed to their draw so they were actually posting negative bonuses. I felt bad for the doctors and the patients. Whenever I interview with companies now I ask if there is any chance they will be taken over by a PE firm because I avoid them like the plague.

  2. Working in the dark to suck the "vital forces" (joy, beauty and harmony) out of human beings (hearts/love) is what qualifies as brilliance to vampires (ego/greed). But the hypocritical evangelical counting corpses (vampires) can't create joy, beauty and harmony (real intelligence) on their most brilliant (uplifting) day because the vampires (ego/greed) are ignorant (dead). That is why the hypocrital evangelicals have made an antichrist (anti-love) called Count (ing) Dracula their god and our president.

    The evangelical vampires are hiding behind the truth (love) to worship ignorance (absence of love) aka "greed".

    The hypocritical evangelicals are "using" Jesus (love) to manufacture "entitlement" to suck the joy out of life and devour the planet like a ravenous cancer.

    The truth said with the wrong intent is worse than all that lies invent.

  3. The people at Sears, Kmart and the former Toys R Us know all about how these private equity firms work. They buy these companies and because they aren't regulated, they borrow huge sums of money, steal that money, then declare bankruptcy. In a bankruptcy, employees are last on the list of creditors which means they get nothing.

  4. Deleted my prior comment, for I now listened to this video a 2nd time and fully understand it, which I hadn't the first time. Fine video interview! I wish you all success, Kim and others. The video does sometimes seem to go fast and it's ok with a 2nd trial, but it likely was why I wasn't sure the first time.

  5. Lookit if a media outlet, website, or other business can't pay the bills to the point they have to take VC money then they were dead anyway. Remember folks, in nature the vultures keep up the sanitation through feasting on the corpses and this is no different. It's capitalism working as designed and for those of us who invest in it it's working brilliantly!

  6. I suggest endless ridicule. These power people are kinda nutty and of brokenness so find the weak points and make the assholes look more the what they are. Endlessly. For all that was promised and pushed that could never have been, and for everything they destroy.

  7. Thank you,thank you, thank you. I can't wait to read the article. Myself and a few of my good customer / friends, started referring to them as the vampire class back in 2015, but not specifically private Equity firms. Basically everybody that's a hundred millionaire or above. We tried to get it going viral, but we don't have the spotlight or influence to do so, however I am so happy that you see them the way we do. If we look at it just on a basic level of logic, these vampires consume as much energy to live their self entitled lifestyle as thousand regular people. Fuck the #vampireclass

  8. I agree with the premise about private equity firm. But I also celebrate loudly when trash like Gawker and all its vomit inducing offspring, as well as other virtue signalers likeBuzzFeed, Vice lose money. (not a rassling fan but the Hulk Hogan trial was deliciously enjoyable)
    Propaganda with zero integrity or even a smidgen of balanced analysis. Its Breitbart for the SJW crowd.
    That Deadspin got screwed is a special joy. the company that spent its existence denigrating, insulting, making fun of athletes deserves to be fun of and all their smarmy writers can learn to code now.
    So I felt very conflicted about this episode.

  9. Trash article with no explanation of the economic incentives for dismantling these websites.
    Full of inflammatory insults, no details on the examples, and of course no articulated solutions.
    Sometimes RealNews really comes out with some garbage that hurts the cause.
    Too bad I donated to them this year.

  10. How do you destroy evil? In a democracy on who side is the government? If the government is there to represent the people, then the said government can't be in bed with the people's oppressors. Government have to find each and everyone of them vam-empires, and the destroy the evil. Reaganomics was a fantasy. No 1% should be above the government or controling any of the government institutions. They should all be to the service and wellbeing of the peoples. First things first, the evil vamps campaign dollars must become illegal. That's the door where the evil enters. The campaign dollars turn the government into quasi master that enslaves the people with all kind of oppressions. To repay these vampires with the life blood of these innocent peoples. If the government can destroy other countries through harden sanctions, then why can't sanctions work against these evil system that is draining the people daily bread and $ucking them dry? The evil can be destroy by the government. The question is; On who side is the government?

  11. I have the answer, we can start a separate economy decoupling from the capitalist system. America's economy has so much potential, there is still so much good money, jobs and services with which we can make a difference. For example the new green deal revolution project. We can work with the FED to create state/public owned banks, no stocks no dividends, only decent interest paid to savers gilts investors. Make the new economy like a high speed train network as a solvent trust, non-privatisable, workers get state pension and jobs are inheritable by children. One country two economic systems. So the Democrats must give The Bernie Alliance a chance.🤩

  12. Eeehhh, so there was a new owner for a sports news site, the new owner said "this is a sports news site, stop throwing in politics and political opinions."

    And you are acting as if someone bought MSNBC or something and said "ok, from now all I am killing all current and future stories that say anything bad about the president or republicans". That is absurd. Those are two very, very different things.

  13. Baby boomers didn't have this around when they were kids / young adults, now they're the vampires. BIG BOOMIN!

    Childhood / young American poverty is QUADRUPLE baby boomer poverty, that's just BIG BOOMIN! You don't hear about this on the big boomin media channels of CNN / FOX / MSNBC.

    The robber baron class was under control from 1940-1980, just enough time for the big boomer youth to "get theirs". Then they became the robber barons with their big boomin neoliberal / neocon economic brains. Just genius capitalists as far as the eye can see. You'll see this really come into focus over the next 4 years.

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