State of affairs: One very good example is a major hotel chain whose founding family sold out to private equity which let existing properties decay (through neglect) while focusing on new; then, the going public bit (can be characterized so many way) put 10s of billions in the pockets of the private equity people (and their cronies) who laughed on their way to the bank (which they own) while employees labor, in a Sisyphean manner, to keep customers (some of long time loyalty - stupid jerks that the clients are) happy so that they might return despite the deteriorating conditions. And, customer reviews, perhaps too strongly but perhaps not, all talk of the state of affairs not being up to the exalted name of the chains founder.
Posted on: Mon, 10 Nov 2014 14:10:20 +0000
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