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When you say that these businesses are being looted, what you mean is that their owners are being cashed out at an agreed-upon price.
by NotYourLawyer 3y ago
When you say that these businesses are being looted, what you mean is that their owners are being cashed out at an agreed-upon price.
- metabagel 3y agoCashing out by running a company into the ground is what we’re talking about here. The Tony Soprano “bust out” method.
- NotYourLawyer 3y agoBut the company belongs to the owners. If they want to sell it, it’s none of your business. If the new owners want debt financing, that’s none of your business either.
- freeone3000 3y agoI think there's a broad conception that businesses exist not just as a vehicle to earn money for their owners, but as a component of society at some scale. That a store is not merely a collection of goods, but a cultural touchstone, as the stores we visit and the goods we consume are the majority of our culture. As those goods vanish or are perverted, or as those stores shutter or become something different, there is a sense of grief and betrayal -- of a member of the community going away or breaking our trust. This doesn't align with any reasonable view of a collection of shares reflecting ownership components of a company selling overpriced soap. But I think this view of the world, of large corporations as society fixtures, explains why so many corporations are expected to "behave well", and why people are mad when they don't.
- NotYourLawyer 3y agoI mean. It’s ok to be sad when a store you liked fails. But the owners should, and do, get to decide what happens.