Even the CBC is making an article about it! 😅

  • chonglibloodsport@lemmy.ca
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    1 year ago

    CBC often does this with Business reporting. In their story about the InstantPot bankruptcy they neglected to mention that the reason the company was $500 million in debt is because they were acquired by a private equity firm who then took out a $500 million loan in the company’s name and used it to pay themselves a huge dividend, earning about $150 million in instant profit.