**bhtooefr** @bhtooefr · 2018-03-27T10:00:31Z

bhtooefr @bhtooefr

guns, uspol-adjacent, vulture capitalists Show more

https://www.theroot.com/americas-oldest-gun-maker-goes-bankrupt-because-no-one-1824083254

So, a demand crash due to Trump's election certainly didn't help them, but the real reason is hidden in the article (and discussed in the comments) - Cerberus bought them on debt, stripped their operations to the bone, kept the profits, and saddled them with the debt.

Really, regardless of what you think of guns, that shit should be illegal - if you buy a company using debt, the debt should be your problem, not the company's.

Mar 27, 2018, 10:00 · Web · 1 · 1

**bhtooefr (car aspect)** @bhtooefr@fasterwhen.red · Mar 27, 2018, 10:03

**bhtooefr (car aspect)** @bhtooefr@fasterwhen.red · Mar 27, 2018, 10:03

Mar 27, 2018, 10:03

bhtooefr (car aspect) @bhtooefr@fasterwhen.red

uspol-adjacent, vulture capitalists Show more

Now this is moving to cars, so switching instances.

Look at what Cerberus did to Chrysler. (Granted, Chrysler was in really bad shape after Daimler-Benz's whole "merger of equals" bullshit that consisted of them raiding Chrysler's cash reserves and leaving them with old platforms.) But, Cerberus sure as fuck didn't help, and they got a big payday from the American taxpayer for running Chrysler into the ground.

**Stringbender** @Stringbender@mastodon.cloud · Mar 27, 2018, 11:33

**Stringbender** @Stringbender@mastodon.cloud · Mar 27, 2018, 11:33

Mar 27, 2018, 11:33

Stringbender @Stringbender@mastodon.cloud

Business sharks Show more

@bhtooefr Same is happening here in the UK. Especially retail sector. Company without a truly sustainable business is bought by a "saviour", by taking on debt, who then strips down the costs, and pay themselves massive bonuses from the remaining business funds while placing the debt on it. Vultures win big, creditors lose big. Blame goes on internet shopping making retail sector fail.