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dependencyinjection

@ dependencyinjection @discuss.tchncs.de

Posts
7
Comments
723
Joined
3 yr. ago

  • TIL that Toys R Us wasn't killed by competition, but by private equity companies

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  • We should note that Toys R Us was also struggling at the time, although they would have had a better chance of success by not having 300-400M a year in debt payments to make; they could have used that to improve customer service and stuff.

    I’m not defending the LBO here, just adding a little context.

  • TIL that Toys R Us wasn't killed by competition, but by private equity companies

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  • below is a reply to a comment I made below, pasting here as I find it crazy how this went down and is allowed.

    For those curious I did a little digging. I’m on mobile so won’t be going in and out to add company names etc.

    Basically, the private equity firms got together and said let’s buy Toy R Us for $6.6B but we only want to use say 300M of our own money and get a loan for the rest.

    Then they bought Toys R Us but made them sell all assets to equity firms which then leased them back to Toys R Us so they could pay back the loans. This means Toys R Us are paying hundreds of million a year to cover loans and can’t put that money into making a better business.

    The private equity firms also made Toys R Us issue dividends in the hundreds of millions so private equity can make money.

    In the end private equity walked away with over $1B in profit whilst Toys R Us declared bankruptcy with $5B still left to pay.

    What a fucking insane system. Like how many people lost their jobs so these ghouls could make some extra cash off its downfall.

    And people think I’m crazy for making my life harder by not shopping at places like Amazon or being a pirate and not giving money to Netflix etc.

    I feel I am living in crazy land. Like the Uk has all our pensions and shit tied to the damn stock market, ensuring we can never really leave this system.

  • TIL that Toys R Us wasn't killed by competition, but by private equity companies

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  • Not at all.

    Just go look it up it was a leveraged buy out (LBO) and was the main factor in its collapse.

    Edit: For those curious I did a little digging. I’m on mobile so won’t be going in and out to add company names etc.

    Basically, the private equity firms got together and said let’s buy Toy R Us for $6.6B but we only want to use say 300M of our own money and get a loan for the rest.

    Then they bought Toys R Us but made them sell all assets to equity firms which then leased them back to Toys R Us so they could pay back the loans. This means Toys R Us are paying hundreds of million a year to cover loans and can’t put that money into making a better business.

    The private equity firms also made Toys R Us issue dividends in the hundreds of millions so private equity can make money.

    In the end private equity walked away with over $1B in profit whilst Toys R Us declared bankruptcy with $5B still left to pay.

    What a fucking insane system. Like how many people lost their jobs so these ghouls could make some extra cash off its downfall.

    And people think I’m crazy for making my life harder by not shopping at places like Amazon or being a pirate and not giving money to Netflix etc.

    I feel I am living in crazy land. Like the Uk has all our pensions and shit tied to the damn stock market, ensuring we can never really leave this system.

  • Deleted

    Permanently Deleted

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  • Furthermore, we then tie it all into the stock market and link our future pensions to that. So we can never really change the system otherwise everything will collapse.

    It’s like a house of cards.

  • mememe

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  • Viscous is the word you’re looking for.

  • Donald Trump Threatens to Sue ABC Over Jimmy Kimmel's Return

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  • He has the second highest figures for late night behind Colbert.

  • Anti-vaccine groups melt down over RFK Jr. linking autism to Tylenol

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  • Hopefully. Mans a danger to society.

  • Squeeky clean

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  • Exactly. As someone from the UK, I find it nothing more than placating to public pressure, but don’t get it twisted we are still selling them weapons and running recon flights for Israel to then murder people.

  • What are your "must-watch" movies?

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  • Hey I’m glad you actually took my recommendations.

    Totally get that with Whiplash it’s a tough watch. Funnily I’m not that artsy myself I was more drawn to both Fletcher and Miles as I found them fascinating but understandable that it’s not for everybody.

    Yeah I get what you mean about No Country for Old Men and how it’s not your typical the “the bad guy always wins” cliche; frankly to suggest that’s indicative of real life is kinda insulting from Hollywood lol.

    Awesome. I hope I can make it 2/3 in my favour with There Will Be Blood.

    Whilst I’m here I saw Warfare recently and thought it was amazing. Basically super realistic to war and less Hollywood. Not graphic realism so much, although a little gore, but more the mundane side of war and the complete chaos. Really fascinating.

  • What are your "must-watch" movies?

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  • I wonder did you watch anything?

  • Those were the days

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  • Because you don’t know how he controls electrons? He’s just got rizz.

  • Disney+ cancellation page crashes as customers rush to quit after Kimmel suspension

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  • I don’t believe my government does. I’d have to check the UK though.

  • Disney+ cancellation page crashes as customers rush to quit after Kimmel suspension

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  • But they won’t really care, in a moral sense, they’ll just do what helps them make money. They’re all soulless.

  • Disney Plus Subscribers Quit in Droves Over Jimmy Kimmel Axe

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  • I assume Facebook. We all realised after that that social media was an evil business.

  • FCC's Carr says Jimmy Kimmel appeared to 'mislead' public on Charlie Kirk killing

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  • Don’t think many people in here have those. I certainly don’t and don’t shop at massive corporations either if I can help it.

  • Bernie Sanders becomes first US senator to say Israel committing genocide in Gaza

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  • Let’s reverse the roles. Would you support the genocide of Israel to root out some terrorist?

    All the while you’re making new terrorists by killing innocent people. If you killed my family you best believe I would join Hamas.

  • How do you discreetly look at your phone during work?

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  • Fortunately I don’t have to.

  • Pilot dies after plane carrying nearly 200kg of SpaceX-branded cocaine crashes in remote Brazil

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  • Just Teddy still funding those wars in South America.

  • Cloudflare outage due to excessive useEffect API calls

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  • This thing is so common too. Even the linter in my IDE will complain about a missing item in the dependency array and I can see immediately that this will cause an infinite loop. Have to disable the linter for that line.