[P2P-F] Fwd: FYI - NYTimes DealBook - How the Twinkie Made the Superrich Even Richer, part of "Bottom Line Nation" article series on PE

[Michel Bauwens]

---------- Forwarded message ----------
From: Nurul E. <ne_atl at onebox.com>
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.



-- 
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