Kevin Severud<p><span class="h-card" translate="no"><a href="https://mastodon.social/@GPJohnston" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@<span>GPJohnston</span></a></span> We've been watching this play out since the '80s, right?<br>- Purchase company<br>- Extract assets<br>- Leave shell of company behind<br>- Xfer all wealth to senior Execs/Board<br>- Fire employees and let the carcass decay</p><p>I'll reference Carl Icahn as a prime example.</p><p>This may or may not be quite the exact fit for the mismanagement (or willful management) of Rite Aid but it's in the ballpark.</p><p>Unregulated fraud and grift at the end of the day.<br>"It's all legal!" Yup, cuz the crooks wrote the law.</p><p><a href="https://social.vivaldi.net/tags/CorporateRaider" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CorporateRaider</span></a> <a href="https://social.vivaldi.net/tags/LBO" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>LBO</span></a> <a href="https://social.vivaldi.net/tags/PrivateEquity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PrivateEquity</span></a> <a href="https://social.vivaldi.net/tags/VentureCapital" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>VentureCapital</span></a> <a href="https://social.vivaldi.net/tags/WashRinseRepeat" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WashRinseRepeat</span></a></p>