A private equity firm fucked up running a 188-year-old department store chain, which had survived two world wars and the Great Depression.So now low-paid retail workers are being told that they'll lose their jobs just weeks before Christmas.abc.net.au/news/2026-11-11/dav #auspol #capitalism @latestagecapitalism

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[–] 18 points 22 hours ago (3 children)

@ajsadauskas @aj @latestagecapitalism They didn’t fuck up: they extracted value to enrich the people they were meant to enrich. This is private equity working exactly as designed.

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  • [–] 14 points 1 day ago* (last edited 1 day ago) (3 children)

    Name a more iconic trio. private equity firms and a failing business.

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  • [–] 3 points 20 hours ago (2 children)

    @slazer2au @ajsadauskas Trump and failing casinos

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  • [–] 6 points 19 hours ago (1 child)

    @ajsadauskas @latestagecapitalism Private equity is a cancer that needs to be eradicated from the world by any means necessary.

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  • [–] 2 points 10 hours ago

    Agreed - every time I have been involved with a company sold to private equity, and unfortunately that's twice. Over a short span of years they squeeze what they can and then run it into the ground. Look at Ed Lampert who tanked Sears for the real estate value.

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  • [–] 3 points 1 day ago

    @ajsadauskas @latestagecapitalism this is not the first time DJs has gone belly up

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  • [–] 2 points 5 hours ago

    They didn't fuck up shit! That is what these things do it's their whole business model. Like the fucking mob. They run up tons of debt cash out and move on to their next victim.

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  • [–] 1 point 11 hours ago

    Nowhere in the news I came across the info about private equity. News are morally bankrupt.

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  • [–] 1 point 1 hour ago

    As designed

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  • [–] 1 point 4 hours ago

    Yeah they already did that to the bay too, 355 years old

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  • [–] 1 point 18 hours ago*

    Totally on board with the hate but maybe you might think about how pretty much every department store chain has collapsed in the last 20 years...

    Oh I see it's a fake account bot circle jerk post.

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