In the Matter of Staples/Essendant, Inc., File No. 1810180 #00302

Submission Number:
00302
Commenter:
Terrance Hyk
State:
Minnesota
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
Private equity funds allow the wealthy to pool their money to buy out profitable companies, like Staples. The private equity fund then loads up the company with debt while slashing wages, benefits, and jobs, all to make more money for the wealthy investors. This type of activity does not benefit and instead harms the economy. It destroys competition which keeps prices competitive and destroys jobs. Thank you.