Comment on Bloodbath Ahead For EA As It Looks To Cut $700 Million In Annual Costs Under Saudi Arabia
LurkingLuddite@piefed.social 1 month agoYes. Just like a farmer can make money butchering their cattle, these private equity type fucks always find a way to pocket every penny.
Aceticon@lemmy.dbzer0.com 1 month ago
It’s even better than that: it’s buying the farm by indebting the farm itself to then butcher the cattle, sell all buildings, sell the lands and sell the tractors, keeping the money.
Private Equity keeps the money from selling the valuable parts of the company whilst the debt is owed by the company, which is now bankrupt and if they properly use Bankruptcy Law they might even manage to extract a bit more money out of the rotting corpse.