Comments by "alex smith" (@alexsmith-ob3lu) on "How Private Equity Consumed America" video.

  1. Excellent video! Reminds me of a family story… My old man worked as an HVAC Controls (BAS) technician for a corporation. His company that employed him was called “ESC Automation”. It got bought out by a private equity firm in the mid 2000s. As soon as the takeover was complete, half of his colleagues were laid off and the remaining employees got their wages slashed in half. So more people ended up quitting and before you knew, my old man was doing all the work and overtime work for cents on the dollar just to keep regular customers happy. After a few years of milking the corporation dry, the private equity firm sold everything to an investor who allowed things to be turned around in the company for the better. My old man was lucky and did not lose everything, but man, most folks out there are given a rotten deal with corporations these days.
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  2.  @HuyHTX  I get what you're trying to go at, but its gotten to the point where its getting impossible to just "hop around". Which is why many people (including myself) don't want to work at a corporate job anymore.
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  3. I hear you. The same thing happened to my old man who worked in a corporate job as a BAS technician.
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  4.  @jakel2837  He befriended some loyal customers over the years and wanted to continue to provide a high quality standard of HVAC control service to those customers. He was lucky that the vultures only bleed the company for several years before moving on. These days, private equity firms go all out in destroying a corporation after take over.
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