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View Diary: Corporate Life In The Rearview Mirror: Mergers & Hackquisitions (57 comments)

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  •  I worked for a mutual health insurance company. (4+ / 0-)

    The CEO decided to take it public, and retired with a fat deal.  The new executive team shopped the newly ublic company around, engineered an acquisition by a national health insurance company, and then got a golden deal for themselves.  Then the new owner was itself acquired by another national health insurer.  

    All this in the space of three years, with each new acquisition shaving a portion of the staff while doling out huge payouts to the redundant executives.

    Play chess for the Kossacks on Chess.com. Join the site, then the group at http://www.chess.com/groups/view/kossacks.

    by rhutcheson on Wed May 15, 2013 at 12:45:43 PM PDT

    •  Ouch! That's one reason why (3+ / 0-)
      Recommended by:
      rhutcheson, ozsea1, radarlady

      I refer to these events as "hackquisitions". Once your firm gets pulled into the corporate chop shop, it's often worth more for parts than as an intact company.

      The sorrow of these acquisitions and "rebranding" is that corporate names and reputations that have endured for decades (or in some cases, over a century) are stripped away as part of the employee "reprogramming". The new company has no name recognition, bewildering the customers and the marketplace.

      Those who do not understand history are condemned to repeat it... in summer school.

      by cassandracarolina on Wed May 15, 2013 at 12:50:33 PM PDT

      [ Parent ]

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