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As grocery chain is dismantled, investors profit but pensions are short millions
- masonic 8y agoAlthough the only politician the WP mentions is Romney, Sun Capital's 2018 candidate contribution recipients were more Democrats than Republicans[0]. [0] https://www.opensecrets.org/orgs/summary.php?id=D000030183&cycle=2018 https://www.opensecrets.org/orgs/summary.php?id=D000030183&c...
- dexwiz 8y agoThis story seems to repeat itself over and over again. Businesses owning business is a better business than running a business itself. Somehow these companies manage to shuffle around enough assets that they remove themselves from any sort of responsibility or liability. And the government seems complicit in it all. That said, if I was still betting on a pension today, I would be worried. Even if you manage to still have it intact by the time you retire, there is no guarantee it will last until you die. Even if the company is fine today, there is no telling if it will even exist in 10 years. I know there have been corporate take overs as long as there have been corporations, but has this form of investment firm buyout always existed?