Adam ruins corporate mergers

[gloeden2]

In a few minutes, I'll be speaking before the FTC and the DOJ about the disastrous effects of mergers on entertainment industry workers and the diversity of content we the public have access to. Watch here: https://t.co/WA4QkWK5IZ
- Adam Conover (@adamconover) April 27, 2022
Comedian Adam Conover said despite being one of truTV's biggest shows, "Adam

Comments

[tanglespiders]

and would this merger/sale of WB to Discovery even be happening if Bill Hwang hadn’t driven up the stock of Discovery in a way that the SEC thinks is fraudulent?

[matsaurus]

It sucks but entertainment is certainly not exempt from the way business unfortunately happens, at least in the US. Having a story to tell is not enough to put dollars into these greedos' pockets. I appreciate him speaking about the jobs lost not just "his show" or "his platform" because I don't often see that.

[lurkurheartout]

I feel you Adam. My company merged into a giant corp less than 10 years ago. They just announced its q1 was 60+ billion (before interest and taxes) They gave the avg employee 2,5% raises that didn’t keep up with inflation. But every meeting they talk about inflation and how expensive everything is 🙃

[iburiedjohn]

When I worked at Borders, we had a CEO who was fired and given a $3million payout. Raises had already been frozen for a year at this point and the company laid off 1-3 managers in every store a few months later. I did the math once and the amount that once asshole was paid for being fired would have covered the salaries of everyone who was laid off for at least a year.

[el_natural]

This hurts me, Borders was my happy place when I was growing up. But the store close to us was one of the many that got shut down, so an extra fuck you to that CEO!!!

[iburiedjohn]

To be fair, they all got shutdown in 2011 hah

There were many bad CEOs and weird business decisions at Borders lol My favorite was that the Borders website was run by Amazon. Oh and the millions and millions of dollars they spent to remodel all the cafes to Seattle’s Best when the company was already in trouble. Our espresso machine cost $26,000 and the cafe ended up making less money after we converted because the regulars hated the changes. People came to Borders because it wasn’t Barnes and Noble. They didn’t want Starbucks lite lol

[ohwutevernvm]

Yep he articulated everything that in his Tiktok. Made so much sense especially in consideration of the black excellence media from the 80s to very early to late 90s (also made an huge impact on Y2K that got buried under the 🤑💰corporations). It was literally everywhere that became suddenly vanished within a blink of an eye. So with this on top just clicked with wtf has been going on over those years and to this very day. Like, it’s so jarring.

Musk could’ve end world hunger which he actually boasted about that offer to rub it up in our faces and he then fucked off to buy Twitter so to phone it in

[iburiedjohn]

When B&N was purchased by Elliott Management Company, I went down a hedge fund/billionaire rabbit hole and decided they are going to destroy the world lol

A hedgefund can literally buy up a nation’s sovereign debt and force them to pay through the courts. Paul Singer, the guy who runs Elliott, bought Peru’s debt and when the then-president tried to flee due to allegations of corruption and human rights abuses, Singer confiscated the president’s plane and offered to release the plane if the president ordered the treasury to pay the $58million owed. He took the offer and fled to Japan. These assholes have too much power.

[irajaxon]

that is utterly appalling and terrifying