• 3 Posts
  • 116 Comments
Joined 2 years ago
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Cake day: June 17th, 2023

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  • You are not required to provide lunch. You are not expected to tip. You hired a service and you’re paying for it (I know your new windows weren’t cheap).

    You are required to be solicitous and helpful if they ask for help with something (move your car or kennel your dog). It would be nice of you to have a cooler full of water bottles and if it’s cold, hot coffee. You can also offer snacks or comfortable seating (lawn furniture set up, perhaps) if you want to impress them with how much you appreciate their work.

    If the crew really knocks you out with how awesome they are you can follow your heart and open your wallet but don’t think there is an obligation beyond normal niceties.





  • Private equity used to buy distressed firms then build value to sell. The new norm is buy anything and suck it dry then let it fold in on itself and take the money elsewhere.

    For example, the firm that bought Red Lobster leveraged everything their brand had to sell (cheddar bay biscuits in the grocery store). The individual stores which sat on company-owned land had their budgets re-configured to “pay rent” to the overlord which now owns everything including the land.

    The costs of advertising and company image maintenance were passed down to the stores as fixed costs that local managers had to account for in their budgets without impacting the owners of the name.

    No surprise that very few locations can turn a profit in that environment but the leeches at the top aren’t hurt by store closings.

    Private equity acquisition today is simply buying something of value to slurp it’s blood then discard the husk.