Company gets bought off to private equity, strips the assets until bankrupsy. The government steps in and wants to support the employees to take the gutted business.
Im all for support of workers owned businesses.
But seems like the government isn’t dealing with the root cause here.
End result:
Private equity made money.
Good business was stripped out of assets.
Tax payers to support rebuilding.
So wait a minute,
Company gets bought off to private equity, strips the assets until bankrupsy. The government steps in and wants to support the employees to take the gutted business.
Im all for support of workers owned businesses.
But seems like the government isn’t dealing with the root cause here.
End result: Private equity made money. Good business was stripped out of assets. Tax payers to support rebuilding.
Just tax the private equity firms more.