This is vulture capitalism at its very worst. These firms buy up companies, cut costs and workers, have no idea as to how relationships with the franchisees clients work and how important they are, destroy the human element and then turn around and sell it for a large profit. This happened with my father’s company. A private firm bought it, combined it with another company — which was struggling badly — put the other company’s CEO I charge of my dad’s firm and the fired him and me. They then turned what was once a well-run, relationship-built firm into some kind of monstrosity and sold it to a sucker for over 300 million dollars. Dad’s company never recovered and barely makes a profit. The good thing is my father made enough on the same to retire and live easily for the rest of his life. By the way, the company that bought the new monstrosity lost so much money on the deal they had to sell it just a couple of years later!

This is vulture capitalism at its very worst. These firms buy up companies, cut costs and workers, have no idea as to how relationships with the franchisees clients work and how important they are, destroy the human element and then turn around and sell it for a large profit. This happened with my father’s company. A private firm bought it, combined it with another company — which was struggling badly — put the other company’s CEO I charge of my dad’s firm and the fired him and me. They then turned what was once a well-run, relationship-built firm into some kind of monstrosity and sold it to a sucker for over 300 million dollars. Dad’s company never recovered and barely makes a profit. The good thing is my father made enough on the same to retire and live easily for the rest of his life. By the way, the company that bought the new monstrosity lost so much money on the deal they had to sell it just a couple of years later!

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