---------- Forwarded message ---------- From: Nurul E. <[email protected]> Date: Tue, Dec 13, 2016 at 6:11 AM Subject: FYI - NYTimes DealBook - How the Twinkie Made the Superrich Even Richer, part of "Bottom Line Nation" article series on PE Hi & FYI if not already seen, Epic tale of our extractive economy: Company with a beloved nostalgic brand delivering billions of expertly marketed empty calories, subsidized ingredients and sugar highs to millions of consumers expands, collapses, and becomes a vehicle to enrich a few upon its more modest rebirth. Legacy stakeholders left reeling. - Nurul =========== ".. Apollo Global Management and Metropoulos & Company.. spent $186 million in cash to buy some of Hostess’s snack cake bakeries and brands in early 2013. Less than four years later, they sold the company in a deal that valued Hostess at $2.3 billion. Apollo and Metropoulos have now reaped a return totaling 13 times their original cash investment. Behind the financial maneuvering at Hostess, an investigation by The New York Times found a blueprint for how private equity executives like those at Apollo have amassed some of the greatest fortunes of the modern era... ... The industry’s trade group, the American Investment Council, says it is sensitive to these issues as private equity’s role in the economy expands. The industry now controls huge swaths of the American work force: 4.4 million employees at over 7,500 companies, according to PitchBook, a private financial data platform. " By MICHAEL CORKERY and BEN PROTESS DEC. 10, 2016 MORE AT: http://www.nytimes.com/2016/12/10/business/dealbook/how- the-twinkie-made-the-super-rich-even-richer.html?_r=0 Bottom Line Nation Articles in this series will examine the growing influence of private equity investors — the “corporate raiders” of an earlier era — in daily American life. What is private equity? It’s an industry that now manages a sum greater than Germany’s G.D.P. -- Check out the Commons Transition Plan here at: http://commonstransition.org P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net <http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation>Updates: http://twitter.com/mbauwens; http://www.facebook.com/mbauwens #82 on the (En)Rich list: http://enrichlist.org/the-complete-list/