JoAnne Fabrics is was a place where She Who Must Be Obeyed spent a good deal of time and money because JoAnne Fabrics had what she wanted. Almost every time.
Suddenly, it's BK? We are reliably told that the outlet on Bluemound Road turned into a "dump," but another one farther west in the metro area was well-run, clean, and had excellent inventory. The video linked below mentions that ninety-seven percent of JoAnne stores were profitable.
So why a bankruptcy?
After viewing this video, we took a quick-and-dirty look into JoAnne Fabrics' history, and sure enough, found TWO "private equity" (P.E.) firms in that history. (We did not look into whether JoAnne was forced to send "debt payments" to either of them.)
The noticeable deterioration in personnel and generally slovenly appearance of the Bluemound Road store lines up very well with the P.E. modus operandi.
By the way, the video mentions a "carried interest" tax-trick. That scam is targeted for elimination by Trump. Now you know why the Big Money Boyzzzzz are screeching about 'all the damage' that 'Trump is doing to the economy.' It's not THE economy; it is THEIR economy that will be damaged.
Maybe you think that all business practices that make money (without committing crimes) are GOOD business practices.
We disagree.
2 comments:
Nice to have a farmer in charge rather than vultures
Farmers cultivate
Vultures well eat on the death of the host
It's always a threat to THEIR democracy too.
Post a Comment