Comments by "alex smith" (@alexsmith-ob3lu) on "How Private Equity Plundered The American Economy | Ft. Adam Conover" video.

  1. Yep!! That’s what I did two years ago!! My parents and grand parents were constantly telling me that a white collar, corporate pathway is a great career choice; not so much anymore! Never am I gonna return back to the corporate world. Not unless these private equity firms are rid of.
    17
  2. This video reminds me of what my old man had to got through. He worked as a BAS technician doing HVAC Controls for a medium sized corporation (ESC Automation) for a few decades. Then suddenly, a private equity firm comes in a few months after the 2008 recession, buys up the entire corporation, and then begins selling off the company for higher profits. The moment the private equity firm took over my old man work place; half the employees were fired for so called “under performing”, and the other half of employees who remained had to work overtime (70+ hours per week) for no extra pay and no bonuses. My old man essentially became an overworked donkey slaving away for cents on the dollar until a private investor bought up ESC Automation Corp. from that private equity firm and allowed things to be turned around for the better.
    14
  3. I quit my corporate job as an engineering technician two years ago, because I started seeing things that were unsettling. If there were an actual “labor shortage”; why are wages stagnant, benefits nowhere to be seen, and educational training non-existent? I’m glad I left, since now we see in full effect, private equity firms destroying entire corporations for personal profits.
    8