In the Matter of Staples/Essendant, Inc., File No. 1810180 #00838

Submission Number:
Nancy DeNazario
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
I used to joke that it's about 5 corporations that own the world. Now I feel that I was not far off the mark on that. It appears on the surface to be another facet of the very rich creating a very manipulated situation via their wealth and does not seem to benefit the growth of the country in any way that I am able to understand. This private equity allowance for the rich to buy and close companies doesn't seem to represent the majority of the people who live and try to make their way in this world. If this is allowed, it seems a short step to use the"private equity" ruling to legally apply money to certain businesses over others or funding certain candidates for office over others through overzealous contributions. Perhaps this would fairly easily extend to influencing governmental policy. There have already been mergers in this type of business - Office Depot and Office Max. It seems this is already on a continuum that allows the few to control the many. Government does not need to condone this, but to protect against it unless it can be proved by an impartial grouping to be to the benefit of all.