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Not saying it's not a viable possible strategy for the investor, but that it's perhaps a suboptimal strategy if greater net profits were desired long-term.
We sometimes don't even hear the names of the companies, just "private equity".
Do we need to systematically trace and publish which individuals and institutions benefit from the nasty companies?
Earlier quoted context omitted.
Private Equity really is a pox on society. One reason they may not be able to hire is that they paid a ton to buy out all the competition and now have a bunch of investors wanting to see high rates of return. That requires cutting staff and raising prices. I'm all for a free society that allows private parties to make agreements, but PE is by definition all about breaking markets by creating a monopoly where they hav…
> Private Equity really is a pox on society. Every single non-public business is "Private Equity". How is every single small business in the entire world "a pox on society"? Perhaps you mean "short term thinking" is a pox on society? Or in, like in this case, a duopoly is the issue? If there were 10 such companies a reputation for slow repair would drive people to other suppliers and things would rapidly get better.
But even more frustrating than that? NSM continued sending me phony bills for parts that I did not order. I just trashed them until it went to collections. (Fortunately, the collection agency they use is even more incompetent than they are, and I've been able to put them off with standard anti-collections form letters.)
I figured I'd go with Numotion when insurance is ready to re-up me for a new chair, but reading this article, it doesn't seem that would be any better.
Louis Rossmann interviewed the founder of the project here: https://www.youtube.com/watch?v=eaAj59025Kk
Almost as troubling, from the article "Customized wheelchairs typically last five years, but most chairs need a major repair or two during that time." What the actual fuck? Power wheelchairs run the spectrum for a few thousand USD to ten thousand plus. And they only last ~5 years, and even then with several major repairs in that period? That sounds like an absolutely atrocious durability/reliability record.
Think about it. For many users, they're in these chairs 12+ hours a day. They're not cars that get driven for an hour a two a day.
Private equity discovered that regulations, compliance requirements, & other similar barriers to entry are the most effective 'moats' which allow businesses to raise prices and have little impact on demand; they are now exploiting this 'hack' ruthlessly.
PE is responsible for PE's actions. If these services and goods decline under PE, with the same regulations as before, then the cause is clear.