About three years ago, I wrote a blog about a trip we took to the beach. In that blog, I discussed how gutted our small town and cities had become. I also explained how these towns and small cities were littered with empty storefronts, empty factories, and run-down empty houses.
Has any of this changed, gotten better, or has it improved? In some aspects, it has and then again some cities or towns are still suffering from lack of jobs.
Is the economy still the culprit? I don’t think so, not in the way it was before. The improved economy has given way for a new way for small towns and cities to be depleted, left on life support, and nearly dead.
What is this new way that these small towns are being drained and left for dead? It is called vulture capitalism.
Have you heard of it? I only recently did myself. Large hedge fund companies come in, buy tons of stock at a low price, and influence the way a company they now own stock in conducts business. They don’t do it for the traditional thoughts of making things better for the community, its employees, etc., but do it strictly for all the money they will make.
These hedge fund companies are wealthy. I am talking about billion-dollar companies. They force the sale of large companies by purchasing large amounts of stock in that company then proceed to influence the current owners or board. This influence and pressure to sell will bring negative changes to its employees and in turn, the community and other businesses. The new owner that takes over will get rid of employees, often make employee benefits disappear, and they cut costs in every possible way.
This, in turn, affects its former employees. They no longer have a job, which in turn affects the other business in that community. That former employee no longer provides business to local grocery stores, building supply stores, etc. That one employee who loses a job has a negative trickle-down effect on other companies in that same community.
Now that negative trickle-down effect was multiplied in that same community by 2,000. That is how many people lost their jobs in that same community. When Cabala’s was forced to sell to Pro Bass Shop, 2000 people in the same town were instantly out of work.
Cabela’s was forced by the hedge fund company to sell even though they had a profitable business. While this sale was happening, the hedge fund company sat back and watched as the stock they owned in Cabela’s went from $38 per share to $68 per share. Once the stock rose, the hedge fund company bailed. They sold their soaring stocks, making a cool $90 million.
Once the hedge fund company was gone, the community was left to suffer the consequences of the decisions that they had no choice in making. They were left holding the bag while the hedge fund company walked away with millions and their plans to take over and destroy the next company and town.
Allowing these hedge fund companies to destroy the lives of innocent Americans should not be permitted. There should be some way to hold these hedge fund companies liable for destroying the lives of innocent Americans. There should be some way these Americans can regain their lives and livelihoods back.
Our President often talks about improving the lives of all Americans. I know in my heart that he means it. Often things happen, and we are left with no information that these things ever took place. Our media no longer brings attention to important stories/issues of people or companies that single-handedly destroy the lives and communities of our fellow Americans.
We have to demand better from our media. We need to ask our President to eliminate the carried interest tax loophole that enriches these hedge fund companies. After all, this was one of his promises.
We need to demand that vulture capitalism be banned in America. We need to request the change in our tax codes that allows these million dollar companies to pay little to no taxes.
If this can happen in one particular town in America, this can happen anywhere in America.
America has always done wonderfully with capitalism. Many Americans have achieved the American dream. Many more Americans will continue to pursue the American dream, but then, some are still suffering from poverty. They are still struggling and living paycheck to paycheck.
When did money and power become more important to America than God? When did massive greed take over the hearts of so many people and force, so man men to turn their worship of God to money?
We have to do better for all Americans. All Americans deserve the ability to achieve the American dream. If you wonder what exactly you can do about this, wonder no more. Contact your Congressperson, write the President, or write your Representative. Don’t just call or write once and call it a day. Try calling or writing multiple times. Also, contact the media channel you watch and demand more relevant stories. These types of stores would include stories that impact our fellow communities and our fellow Americans. We have to do something to help our American family.