Comment They bought my plumber! (Score 3, Informative) 39
Seems like there is too much money out there.
Famously, they’ve been buying up residential homes and apartments at a torrid pace, with all the fun that will bring.
But they are also buying up small service firms like my plumber (and funeral homes, and insurance agencies, and medical/dental practices, and). My plumber probably has 100 employees. So, not tiny, but not huge, either. I knew the guy who started it. He sold out. I suppose I can’t blame him. First thing I notice next time I need help? Hourly rates doubled. Parts much more expensive.
I get these PE masters of the universe are going to buying and selling companies. It’s what they do. But can they stay off Main Street?
We will wake up 10 years from Now and none of the local businesses you use will be locally owned. I think that’s a bad thing.
Spare me any talk that they are providing some sort of efficiency service here. I bet my plumber’s business is well run. What they found was that they could charge a lot more for worse service. That’s all.