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Hedge funds, Red Lobster, and uncontrolled free market

fordguy

blah.
Joined
Nov 24, 2022
Member Number
5787
Messages
285


Free market is great and all, but are we at the point where private giants are basically going to own everything in the coming years? Not sure I am down with that, doesnt leave anything for anyone else
 
They used to be owned by a giant but we're sold off in 2014. What's your point?
 
I've never ate at Red Lobster but was encouraged to apply for a freezer warehouse gig in New Jersey. The idea of commuting was a turn off- 🦞
 
I haven't eaten there in years, last time I went the fish tasted like plastic.
An article I read this morning said their all you could eat shrimp was made perminate on the menu instead of just being a promotion, and they claimed that contributed to their down fall
 
it is the challenging part of what capitalism can become... subsumption. the goal of the game is to have all of it. Whatever it is, if it has value, the goal is to own it and control it. Corporations are in business to make money. The way that is done is subsumption. Take it all, wring the value out of it, move on.

Red Lobster was a corporate creation from the beginning. It was created to make money, not dinner.

A woman I know creates menus for corporate chain restaurants. She figures out what people can want and then she figures how to show it to them, how to entice them and ensures that the margins for the meals are within bounds of maximizing profit.

The story on the local news here is that the 'all you can eat shrimp' offer was what caused Red Lobster to collapse. I am 100% sure that is bullshit.

Looking at the track record of who owned it, people squeezed the life out it and then they are liquidating and will make money off even the collapse.
 
fordguy said:
Free market is great and all, but are we at the point where private giants are basically going to own everything in the coming years? Not sure I am down with that, doesnt leave anything for anyone elelse
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That's the risk everybody talks about.

It also never happens, mega Corp can't maintain itself. Mega Corp regularly changes.

Without the government interference, there's very little that mega Corp can do to leave out others :rasta:

Just today, all I could think about was how that dastardly Carnegie robber baron was keeping me down. Preventing my success.

Story as old as time whenever the government wants to justify their growth, fraud and abuse
 
I guess the Covid lockdowns are finally catching up to the profit and loss ?

Or the Biden flation has wiped out the profit margins ?

I don’t know how much they’ve raised prices but it seems every restaurant has doubled prices since biden .

I can’t eat real butter so I haven’t been to the lobster in a while .


I’m surprised the one near me is still open

It’s been there for decades .
40 years probably .

But a new place called “the Juicy Crab opened near by and is really really busy .



Companies figure out ways to buy something and wrong every dollar out and toss the shell .

Isn’t that why this new site was created ?

A company that figured out how to buy websites and wrong every dime out and throw away the shell of what’s left ?

I’m not into high finance , so I don’t really understand how you pay for something and make money destroying it , other than parting out cars .
That I understand , you can almost always buy the entire car for less than just the engine cost .

Last time I needed an engine , it was cheaper to buy the whole car , take the engine out and scrap the rest , than it was to buy Just the engine .

I assume that’s what happens with a lot of corporate takeovers .

Whatever VS paid for the old site , then managed to make that back X10 before they destroyed and discarded the old site ?
 
jpmassey said:
I don't think I have even seen a red lobster in a decade. It was the 'nice' place to go circa 1998.
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I thought it sucked even back then. There were LOTS of much better seafood places for comparable or less $$$$$$ available in San Diego.
 
I got a gift card from RL there isn't one two hours from here. I finally regift it then read about the bankruptcy a few day later :laughing:

Your not paying for just the engine, your paying for it being removed, tried to explain that to some stars in his Eyes I know what I have under the hood of a rotbox benz, I said Fine I'll pay that but first pull it and make it run on a pallet. Aww that's too much work and I don't have a cherry picker, Well that's why the whole car is only worth $500 to me.
 
Am I the only one here that likes Red Lobster? Their bloody marys are some of my favorite. I agree their food just isnt what it used to be. I might eat there once every other year.

I also like Long John silvers. So I must be a freak. It seems nobody else does since most of them are shutting down too.
 
fordguy said:


Free market is great and all, but are we at the point where private giants are basically going to own everything in the coming years? Not sure I am down with that, doesnt leave anything for anyone else
Click to expand...


Haven't been to one in years. But the food was crap when we did go.

Outback is closing a bunch. Again, food was mediocre when we went the last time.

Tons of restaurants are closing, a lot blame it on Covid which I'm sure didn't help at all. But, if you look at the plethora of chain restaurants and so many have at best mediocre food, what do you expect?

Add in Bidenflation and Covidiocy and this shouldn't shock anyone. It isn't the free market either when the .gov forces you to shut down indoor eating for the common cold.

We went to Bonefish Grille last summer, used to be a favorite that we'd go to once a year or so. Probably less since we don't eat out much. Portions were way smaller and prices were higher. Wife and I said to each other, we won't be back.

I know it sucks for the restaurants, but if you're going to raise your prices so much to cover inflation, keep the portion sizes the same.

That is the free market, raise prices and decrease portion sizes even when the food is good, lose customers.
 
KungFooMASTA said:
I also like Long John silvers. So I must be a freak. It seems nobody else does since most of them are shutting down too.
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I love Long John Silvers.

You ever seen a Long John Silvers lite? They pair them with a KFC or Taco bell or whatever. Entire menu is just the deep fried shit so other than having freezer space and an another fryer the cost of offering all that shit on an ongoing basis is negligible and the start up costs are fuck all because it's just a sign and some more TVs for the menu (I assume there's some fees as well). I think it's a marvel of efficient business. :laughing:
 
Haven't been to Red Lobster in a decade at least. Thought it was ok for what it was. I'm not a seafood nut even at high end seafood restaurants. Not a Sushi lover either. Most if not all long John Silvers in CO are gone. I like Fish n chips so I used to go there sometimes. See ya!
 
KungFooMASTA said:
I also like Long John silvers.
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arse_sidewards said:
I love Long John Silvers.
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Me too!! I preferred the seafood platter w/hush puppies over McDonald's next door (they are still there, huh) but sometimes the waiting times at lunch hour took a while to get your food. They closed down... 😳

Another favorite was Arthur Treacher's Fish & Chips when I was a kid, they didn't stay long/closed down- 🥺
 
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