1212
TRU is still in Canada, but its starting to rapidly die all of a sudden.
this post was submitted on 29 Sep 2025
1212 points (99.7% liked)
Today I Learned
25013 readers
1387 users here now
What did you learn today? Share it with us!
We learn something new every day. This is a community dedicated to informing each other and helping to spread knowledge.
The rules for posting and commenting, besides the rules defined here for lemmy.world, are as follows:
Rules (interactive)
Rule 1- All posts must begin with TIL. Linking to a source of info is optional, but highly recommended as it helps to spark discussion.
** Posts must be about an actual fact that you have learned, but it doesn't matter if you learned it today. See Rule 6 for all exceptions.**
Rule 2- Your post subject cannot be illegal or NSFW material.
Your post subject cannot be illegal or NSFW material. You will be warned first, banned second.
Rule 3- Do not seek mental, medical and professional help here.
Do not seek mental, medical and professional help here. Breaking this rule will not get you or your post removed, but it will put you at risk, and possibly in danger.
Rule 4- No self promotion or upvote-farming of any kind.
That's it.
Rule 5- No baiting or sealioning or promoting an agenda.
Posts and comments which, instead of being of an innocuous nature, are specifically intended (based on reports and in the opinion of our crack moderation team) to bait users into ideological wars on charged political topics will be removed and the authors warned - or banned - depending on severity.
Rule 6- Regarding non-TIL posts.
Provided it is about the community itself, you may post non-TIL posts using the [META] tag on your post title.
Rule 7- You can't harass or disturb other members.
If you vocally harass or discriminate against any individual member, you will be removed.
Likewise, if you are a member, sympathiser or a resemblant of a movement that is known to largely hate, mock, discriminate against, and/or want to take lives of a group of people, and you were provably vocal about your hate, then you will be banned on sight.
For further explanation, clarification and feedback about this rule, you may follow this link.
Rule 8- All comments should try to stay relevant to their parent content.
Rule 9- Reposts from other platforms are not allowed.
Let everyone have their own content.
Rule 10- Majority of bots aren't allowed to participate here.
Unless included in our Whitelist for Bots, your bot will not be allowed to participate in this community. To have your bot whitelisted, please contact the moderators for a short review.
Partnered Communities
You can view our partnered communities list by following this link. To partner with our community and be included, you are free to message the moderators or comment on a pinned post.
Community Moderation
For inquiry on becoming a moderator of this community, you may comment on the pinned post of the time, or simply shoot a message to the current moderators.
founded 2 years ago
MODERATORS
I just love private equity
Eddie Lampert set the gold standard for corporate raiding in the 21st century when he orchestrated the Sears/KMart merger and then spent the next 18+ years liquidating all of Sears Holdings fixed assets.
Drowning the company in the bathtub on one hand while on the other, constantly crying to anyone who would listen about the struggles of retail. Buying up the retailers debt to create the public image of a benevolent shareholder who just wanted to offer lifeline after lifeline.
It took a lot longer than some of the smaller private equity takeovers. The combined organization was enormous at the time of the merger in 2004 and still very much financially viable. It's even possible that Lampert intended to make an earnest go at the retail business initially. Although I kind of doubt it. Either way, at some point he figured it was more profitable for him to slowly liquidate the business than continue trying to compete in a harsh retail environment.
It took years for creditors to figure out what was happening and the general public never really caught on. Lampert is a greedy bastard but I have to admire his incredibly patient handling of that whole situation, which was honestly brilliant.
20 years later, Sears and KMart have gone the way of Montgomery Ward, even if their websites are still functioning. Tens of thousands of people lost their jobs and Eddie Lampert is far wealthier than he was when he started.
load more comments
(1 replies)
yea shame - fuck bain and the mormons lol
A song as old as time
The thing that blow my mind is, who is loaning these Private Equity firms all this money?
They have to know how it works.