particularly in the 'old money' press. And while I have the rant wagon loaded, the press has become quite the monopoly over the last 30 years, no less than big tech and social media. Corporations have concentrated power, so little competition today. All the brands in each industry get gobbled up by a few - 2 or 3 or maybe 4 - companies. Shoes, power equipment, grocers, tires, auto parts/repair, then there are companies that run, pursue brands of brands. It is the way the tax code and capitalism is structured. If it's a good product, someone wants it. They pay up, keep the core, hollow it out financially, then refloat it as a public company or sell it to private equity which does the same thing. All the MBAs carving up financial assets. Chainsaw Al Dunlap was only the first.
My favorite examples are shoes and grocers. Grocers since the 1920s, shoes in the last 20 years. Belgium's Ahold was on the brink in the Great Recession, now they combined with Delhaize, they own many of our stores - Giant, Stop and Shop to name two. Shoes? Florsheim is no longer independent. Rockport got gobbled up by Adidas, and sold off I think. Every time they change hands someone's tweaking the products - cheaper, quicker replacement, higher prices. We are so screwed.
Happy Friday rant to you all!
= new reply since forum marked as read
