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“The culture we have does not make people feel good about themselves. And you have to be strong enough to say if the culture doesn’t work, don’t buy it.”

we have to talk about systemic change. We can’t be content with individual actions.

Sun Capital was able to reacquire Friendly’s free of its pension obligations, without spending anything more than the money it had already lent out. Pensioners lost in this process because their payments were at risk of being cut. Many of the chain’s existing employees lost as well: 63 restaurants closed as part of the bankruptcy process. The Blake

Nearly a century ago, Congress concluded that the nation’s economic system could not survive as long as its most powerful companies were left to operate in the shadows. It took the worst economic cataclysm in American history to learn that lesson. The question now is what it will take to learn it again.

This system, which allows private-equity firms to succeed when their companies, customers, and employees fail, is broken.