In the Matter of Staples/Essendant, Inc., File No. 1810180 #01925

Submission Number:
01925
Commenter:
William Barr
State:
Texas
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
As an older American, I have long watched the damage and destruction private equity firms and other corporate players have visited on our country. As this Commissions guiding purpose is to "Protect consumers and competition by preventing anticompetitive, deceptive, and unfair business practices" -- I am asking that you fulfill your duty by blocking this merger of Staples and Essendant. There is not a benefit to consumers (definitely less competition) and the general impact to the public is also negative for those employees who are laid off and the impact on American communities. I am a frequent visitor to Lufkin, Texas, the former home of Lufkin Industries that was bought out by their larger competitor, General Electric. GE bought them to shut them down and eliminate the competition --and the city of Lufkin has suffered from that decimation of the skilled middle class jobs that were taken away. To turn a blind eye to the games played by private equity in their buying and then selling off thriving parts of successful businesses, maxing out that business's loans, and then declaring bankruptcy after hauling away the spoils from the sales of assets and the loan monies --is to condone a corporate criminality against the American people. I hope you are not so naive as to believe capitalism does not require robust regulation and enforcement to maintain healthy competition. And when it comes to regulation of capitalism, the buck stops here with you. Please do your duty and help save America for all Americans.