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Lý do các quỹ tư nhân không nên tồn tại?
03 Dec, 2023
ko bị kiểm soát, nên mua các công ty sản xuất và dùng những thủ thuật tài chính như trả cổ tức cao, trả lãi vay cho "chủ", "bòn rút" cho đến khi sập tiệm và đẩy công nhân ra đường hết, gây hại cho nền kinh tế...
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Earlier this month, a former Toys “R” Us employee named Sarah Woodhams confronted (đối chất) Democratic Presidential candidate Julian Castro. Woodhams told Castro about her experience at the corporation. She worked there for seven years, and then was laid off with no severance (trợ cấp thôi việc) because a set of private equity firms bought the company and looted (cướp phá) it. What she described is not an isolated instance (không phải trường hợp riêng lẻ), but an increasingly common one in America. Woodhams told Castro that “dozens of retail companies (công ty bán lẻ) controlled (bị kiểm soát bởi) by Wall Street have gone into bankruptcy (phá sản), including RadioShack, Payless, and Kmart,” with 15,000 jobs alone in Pennsylvania having disappeared (biến mất).
“Billionaires buy up these companies, make huge profits on our backs, and get away with it because there’s no financial regulation,” Sarah Woodhams explained. “As president, what will you do to hold private equity firms and hedge funds accountable for the destruction of our communities and livelihoods?”
...A private equity fund is a large unregulated pool of money run by financiers (nhà tư bản tài chính) who use that money to invest in and/or buy companies and restructure (tái cấu trúc) them. They seek to recoup (thu lại được; bù lại, bồi thường; tự bù đắp) gains (lợi nhuận) through dividend pay-outs (trả cổ tức) or later sales of the companies to strategic acquirers (cổ đông chiến lược) or back to the public markets through initial public offerings (chào bán công khai lần đầu). But that doesn’t capture the scale of the model. There are also private equity-like businesses who scour (sục sạo, sục tìm; lùng sục) the landscape for companies, buy them, and then use extractive (bòn rút) techniques such as price gouging (lừa đảo, lừa gạt) or legalized forms of complex fraud to generate cash by moving debt and assets like real estate among shell companies. PE funds also lend money and act as brokers, and are morphing into investment bank-like institutions. Some of them are public companies.
While the movement is couched in the language of business, using terms like strategy, business models returns of equity, innovation, and so forth, and proponents refer to it as an industry, private equity is not business. On a deeper level, private equity is the ultimate example of the collapse of the enlightenment concept of what ownership means. Ownership used to mean dominion (quyền thống trị, quyền chi phối, quyền chiếm hữu) over a resource (tài nguyên), and responsibility for caretaking that resource. PE is a political movement whose goal is extend deep managerial controls (quyền kiểm soát điều hành) from a small group of financiers over the producers in the economy. Private equity transforms corporations from institutions that house people and capital for the purpose of production into extractive institutions designed solely to shift cash to owners and leave the rest behind as trash. Like much of our political economy, the ideas behind it were developed in the 1970s and the actual implementation was operationalized during the Reagan era.
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