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Corporate greed This spring, 166 workers in Janesville, Wisconsin awoke to a nightmare. OpenGate Capital, the private equity firm that owns their employer, Hufcor, announced it was moving their plant out of Janesville – taking those workers’ jobs and livelihoods with it. It’s the biggest business closure in Janesville since the Great Recession. This isn’t just another story about corporate globalization or pandemic upheaval. It’s a story about predatory private equity run amok. In too many cases with private equity, big firms acquire businesses and squeeze them for cash, routinely causing bankruptcies. OpenGate Capital, a Los Angeles firm that amassed $5 billion in revenue during its first decade in business, has run exactly that playbook in Janesville since acquiring Hufcor in 2017.

United statesLos angelesTim cullenAndrew nikouGate capitalState senatorGolden guernseyFusion paperboardஒன்றுபட்டது மாநிலங்களில்லாஸ் ஏஞ்சல்ஸ்நேரம் கல்லன்வாயில் மூலதனம்நிலை செனட்டர்தங்கம் கர்ந்ஸீஇணைவு காகித அட்டை