Over the past four decades, private equity has become a powerful, and malignant, force in our daily lives. In our May+June 2022 issue, Mother Jones investigates the vulture capitalists chewing up and spitting out American businesses, the politicians enabling them, and the everyday people fighting back. Find the full package here.
After 16 years at the helm of Houdaille Industries, CEO Jerry Saltarelli wanted out. Since 1941, he’d poured his heart and soul into the company, starting out as a young lawyer and moving up the executive ranks. As CEO, he’d helped the company transform from a manufacturer of bumpers and shock absorbers into a nationwide construction and machine tools conglomerate.
With the company on solid footing, he was ready to retire, but there was a problem. Houdaille—cash-rich and with minimal debt—was the kind of company in vogue with the corporate raiders of 1970s Wall Street, and the New York Times declared that a takeover might prove “irresistible.” This would likely lead to restructuring and layoffs—bleeding the company of its value and tossing aside its way of doing business. Saltarelli wanted none of that. All he wanted was a way to sell his stake while keeping Houdaille independent, doing right by his colleagues, and protecting his legacy.
Source link to read more
Article source: https://article-realm.com/article/Business/22352-The-Smash-and-Grab-Economy.html
Comments
Reviews
Most Recent Articles
- Jun 20, 2022 Retail Automation Market size See Incredible Growth during 2030 by Eric Martin
- Jun 20, 2022 Fumigation Services Industry Insights, Trends, and Forecasts to 2027 by emma bey
- Jun 20, 2022 TruDiagnostic Coupon Code by cheryl trotter
- Jun 20, 2022 Public Safety Analytics Market growth & size, future innovations & forecast by 2028 by emma bey
- Jun 20, 2022 Covid-19 Impact on Medical Aesthetics Market Pegged for Robust Expansion by 2027 by Matt Easterlin
Most Viewed Articles
- 6740 hits How to Download and Install Facebook Messenger on Firestick by Hope Mikaelson
- 1464 hits Importance of Proofreading While You Write an Assignment by clara
- 1334 hits Brief discussion about Water by kavin prasath
- 984 hits Top UPSC coaching center in Chennai by raji
- 944 hits Everything About Garmin Express by Maria Cooper
Popular Articles
In today’s competitive world, one must be knowledgeable about the latest online business that works effectively through seo services....
74613 Views
Are you caught in between seo companies introduced by a friend, researched by you, or advertised by a particular site? If that is the...
30505 Views

Facebook, the best and most used social app in the world, has all the social features you need. However, one feature is missing. You cannot chat...
6740 Views

Walmart is being sued by a customer alleging racial discrimination. The customer who has filed a lawsuit against the retailer claims that it...
5930 Views
HP Officejet Pro 8600 is the best printer to fulfill the high-volume printing requirements. It supports the top quality printer which can satisfy...
5889 Views