Apple News In Conversation

What happens when private equity takes over your hospital, your house, and your job

Jun 26, 2025
In this engaging discussion, journalist Megan Greenwell, author of "Bad Company: Private Equity and the Death of the American Dream," sheds light on the often opaque world of private equity. She reveals how acquisitions can devastate communities, using poignant stories like that of a former Toys R Us employee. The episode also highlights grassroots efforts, like those in Riverton, Wyoming, where locals fight to reclaim healthcare services. Greenwell calls attention to the pressing need for transparency and regulatory reform in the private equity landscape.
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ANECDOTE

Liz's Career at Toys R Us

  • Liz worked at Toys R Us after private equity firms KKR and Bain Capital acquired it and initially thrived there.
  • She supported her family on a low salary and was a high-performing employee until the company's decline.
INSIGHT

Financial Burden Hurt Toys R Us

  • Private equity firms loaded Toys R Us with debt and sold its real estate, adding heavy rent costs.
  • This financial burden drained resources, leaving no money to invest in store improvements or customer experience.
ANECDOTE

Liz Organizes Severance Fight

  • After Toys R Us closed, Liz led protests and spoke at pension board meetings to demand severance for laid-off workers.
  • These efforts eventually pressured private equity owners to pay a hardship fund, giving Liz about $6,000, less than she was owed.
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