Plunder: Private Equity's Plan to Pillage America

Private equity firms have acquired retailers, medical practices, prison services, nursing-home chains, and mobile-home parks using little of their own money, often leaving them bankrupt or shells of their former selves. Brendan Ballou's book "Plunder" explains how this is happening with the active support of the government, and offers an agenda for reigning in the industry.

Format: Hardback
Length: 368 pages
Publication date: 01 June 2023
Publisher: PublicAffairs,U.S.

Private equity permeates our lives, with companies like Blackstone, Carlyle, and KKR standing as some of the largest employers in America and boasting assets that rival those of small countries. However, a significant portion of the population remains unaware of the nature and workings of these firms. In his book Plunder, Brendan Ballou delves into the profound impact of private equity on American business, highlighting its detrimental effects on prices, quality, employment, and economic productivity. Through vivid anecdotes and detailed analysis, Ballou illustrates how private equity firms acquire a wide range of businesses, often utilizing minimal capital and evading debt and legal responsibilities. These firms often saddle acquired companies with substantial debts, leading to bankruptcy or a significant decline in their former glory, with far-reaching consequences for the communities that relied on them.

What is particularly alarming is Ballou's revelation of how this phenomenon is facilitated and even endorsed by various branches of government. However, as Ballou outlines in his agenda for reigning in private equity, there are steps that can be taken to mitigate its destructive influence. By increasing transparency, implementing stricter regulations, and promoting greater accountability, we can strive to restore balance and protect the interests of workers, consumers, and the broader economy.

In conclusion, Plunder offers a crucial perspective on the private equity industry, shedding light on its opaque practices and the profound consequences they have on our society. By raising awareness and advocating for reform, we can work towards a more equitable and sustainable business landscape.

Weight: 574g
Dimension: 161 x 244 x 32 (mm)
ISBN-13: 9781541702103