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Spot the 17 things in this article that made me shudder https://www.nytimes.com/2020/10/30/business/dealbook/dunkin-arbys-private-equity.html?action=click&module=Latest&pgtype=Homepage
And yes, "Roark Capital" is one of them. But the greater point is: This is the future the capitalists want for us. Wall-E. The entire world, one combination Pizza Hut and Taco Bell, which they can squeeze for synergies to create shareholder value.
PE is not coming to save the beloved, independent local restaurants that make life in your neighborhood unique and meaningful. It's up to us to make sure cities don't get hollowed out and repopulated with shitty chains that investors believe will "survive" the new era.
Isn't the point of beloved regional chains that they stay regional? Adding to their loyalty and brand value, retaining beloved status? Not if the PE hounds have anything to say about it. Stay strong Lynsi https://www.forbes.com/sites/chloesorvino/2018/10/10/exclusive-in-n-out-billionaire-lynsi-snyder-opens-up-about-her-troubled-past-and-the-burger-chains-future/?sh=702c451f4b9c
Kudos to @jasonwienerpc and the Main Street Phoenix Project who are among those trying to solve the problem and not just make money off of it. https://www.mainstreet.coop/
We need to bring these ideas into the mainstream and stop normalizing "creating shareholder value" alone as an acceptable framework for business behavior. The PE vultures are flying around just waiting to pick over the pandemic carnage. Get ready.
This is why the next NYC mayor needs to be a true progressive not in the pockets of corporate interests that would love to remake the city in this PE image. I lived through the El Bloombito years and watched 7-11s pop up... that's going to be NOTHING compared to the next 5 years
Keep an eye on every corporation that signed this letter. Let's see who they back. It's going to be a capitalist centrist "law and order" candidate who makes sure we keep a Pret on every corner so The Workers can get back to Midtown. https://www.nytimes.com/2020/09/12/nyregion/coronavirus-business-nyc-reopen.html
Here's a good recap of who's already in, including "outgoing Citigroup executive Ray McGuire." Mmm hmm. Here we go. https://www.cityandstateny.com/articles/politics/campaigns-elections/exclusive-carlos-menchaca-confirms-mayoral-campaign.html
