Basically in the 70s, 80s, and 90s, companies were raided by big money “investors”.Also, note their pensions. The replacement of pensions with 401(k)s and stock option retirement plans hurt the working class because they are dependent on the market and corporate behavior. Police still get pensions that are funded and guaranteed to hold a certain level. No police retiring in the next few years is worried about the crater the market took because they have unaffected pensions. They’d buy up a majority stock, oust the board, poach any particularly good business (sears got axed into like 5 brands IIRC), and then take the remainder and use short-term loans and leveraging to liquidate.
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Sell off before the drop, let the suckers deal with the fallout. This caused a ton of changes throughout the decades to combat it. Look up poison pill strategies, white knights, the origin of golden parachutes, etc. The main one on this topic is pensions, or rather any liquid assets. Pensions need liquidity to fund. As such, businesses put a target on their back to have them. Liquid assets are the easiest thing for raiders to steal. A lot of liquidity has been lost to this constant predatory behavior, nipping on businesses’ heels. Same in reverse. Unions are an inherent good because they achieve a balance between labor and ownership/management.
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