this post was submitted on 26 May 2024

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submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 0 points 3 months ago

That's what happened to brick and mortar companies any time a hedge fund gets a hold of them, it happened to Sears, it happened to McDonald's, and it's happening to Red Lobster, because in their minds, why make good products that people want to buy when they can make more money by owning land instead?

"We (McDonald's) are not technically in the food business. We are in the real estate business. The only reason we sell fifteen-cent hamburgers is because they are the greatest producer of revenue, from which our tenants can pay us our rent." - Harry J. Sonneborn, former McDonald's CEO

[–] [email protected] 0 points 3 months ago

Hedge funds are crazy and I am not smart enough to figure out the actual legality of them, however they seem like something that should be legal.

[–] [email protected] 0 points 3 months ago* (last edited 3 months ago) (1 children)

So what you're saying is that millennials killed red lobster? /s

[–] [email protected] 0 points 3 months ago (1 children)

Red Lobster was canceled because of woke.

[–] [email protected] 0 points 3 months ago

1:50,000,000 lobsters are split color gynandromorphs and the GOP doesn't like that something could be two sexes one bit so they cancelled Red Lobster.

[–] [email protected] 0 points 3 months ago

Someone needs to bail out these poor hedge funds 😭

[–] [email protected] 0 points 3 months ago

Prune those damned hedges!

[–] [email protected] 0 points 3 months ago (2 children)

Absolutely insane this is legal

[–] [email protected] 0 points 3 months ago

If it's a legitimate hostile takeover, the market has ways of shutting things down. /s

[–] [email protected] 0 points 3 months ago

Private equity firms and only planning a quarter out.

[–] [email protected] 0 points 3 months ago (2 children)

What a shame. Red Lobster, while not a great restaurant, was a fun restaurant, and a good place to get affordable luxury seafood.

[–] [email protected] 0 points 3 months ago (2 children)

It still boggles my mind how lobster went from so bad you couldn't even serve it to prisoners to a luxury food item.

What the fuck is wrong with our species??

[–] [email protected] 0 points 3 months ago (1 children)

If you were served a slurry of rotting, partially cooked lobster and lobster shell, you would probably still think it's gross.

Turns out it's better boiled, broiled, and served with tons of butter.

[–] [email protected] 0 points 3 months ago

Y'know that's fair. I guess I didn't really think about how it was served.

And with the way humans have been documented on they way they treat prisoners it shouldn't be so shocking to me.

[–] [email protected] 0 points 3 months ago

As soon as a hedge fund buys a company it's over. Run for the hills. I hope it doesn't happen to anyone.

[–] [email protected] 0 points 3 months ago (3 children)

Jesus. And chapter 11 protection means they erase debts, so this shit is free money but cheddar biscuits are sacrificed forever on this blood altar. I just want to talk to them.

[–] [email protected] 0 points 3 months ago (1 children)

I just want to talk to them.

But why do you need the golf club, xentoxis? What are you about to do?

[–] [email protected] 0 points 3 months ago

Drive the point home

[–] [email protected] 0 points 3 months ago (1 children)

Ah, take out a loan, pay ourselves, declare bankruptcy, walk away. Classic.

[–] [email protected] 0 points 3 months ago (1 children)

Fuck the banks giving these voltures loans to pull this shit.

We all end up paying for this with fees and loan costs.

[–] [email protected] 0 points 3 months ago

as long as it's anybody but them

[–] [email protected] 0 points 3 months ago (1 children)

Actually, a Thai seafood producer bought Red Lobster and made it sell products like shrimp at a loss so it could move more product, allegedly. Patrick Boyle does a good dive into it: https://youtu.be/BEDFNcsC0JI

[–] [email protected] 0 points 3 months ago (2 children)

Both are true. The land sale did great short term benefit, terrible 5 year turnout as the fun dries up and they can't afford rent at a lot of locations as easily. Then the seafood producer put the squeeze on em.

[–] [email protected] 0 points 3 months ago

I hate it when the fun dries up, but at least it lasted 5 years.

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