In the Matter of Staples/Essendant, Inc., File No. 1810180 #01530

Submission Number:
01530
Commenter:
Allison Love
State:
Virginia
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
I voice my STRONG and UNWAVERING opposition to a proposed merger of Sycamore Partners and another office supply chain. I oppose this because I have learned that these mergers are for the purpose of destroying good companies and making the obscenely wealthy investors even more wealthy. I have learned that private equity funds allow the wealthy to pool their money to buy out profitable companies, like Staples for example. The private equity fund then loads up the company with debt while slashing wages, benefits and jobs, all for the greed of wealthy investors! The gutted company is sold or shut it down, despite its success as a business and in spite of this move harming thousands of workers who lose their job in this shifty deal. Private equity related mergers are DESTRUCTIVE and WRONG. The FTC needs to step in and block this Staples merger, as it presents an unacceptable threat to competition.