There are so many things up in the air right now. School Openings, Corona Virus, Economy, Health Care, and Government Handouts that found the lawmakers leaving Washington with plenty on the table while they take their August leave. I made a T-shirt that reads: My hobby is watching Congress. There are little eyes in some letters. It really does seem that congress does take advantage of the American people by not really doing their job.
Doing as much research as I can while the summer heat and no car has me pretty much landlocked in the house while the Corona has its way with the world. There is some good to that. I have discovered why my Walgreens runs out of meds more often and seems to have some problems with certain merchandise that never was a problem before.
When I started ordering on line it was between me and my retail store. When I switched to online ordering with free shipping, I found out that I was talking to Boots Alliance. Boots Alliance is the Holding Company. Now, by reason of common sense, it must be another pharmacy in the picture some where. Well, as it would end up, yes, there is one.
Boots is the largest pharmacy in Great Britian. To make a long story shorter, The leverage buyout private equity firm known as KKR or Kohlberg Kravis and Roberts, love to acquire businesses and toss the enormous debt onto one of the companies. In this case, it was Boots. Such is the case with Boots when KKR structured the deal between Boots and Walgreens with Rite Aid in the mix. Rite Aid bought out all the Lane Drugs in the Great Lakes. I don't even want to know any more about how Rite Aid got there but it was through a buyout somewhere else. Not to mention the Eckerds (a subsidiary of J.C. Penny's ) buy out of their 1269 stores in Florida, Louisiana and Texas by CVS. Eckerds was the 4th largest pharmacy in the US at the time of the deal which also included Eckerds 1.3 Billion mail order business. The original company was worth $4.3Billion.
Yes, Rite Aid worked out a deal with Walgreens as a alternative to a merger by allowing Walgreens to purchase their 1900 stores except 8 states for a cool $4.4 billion that included 3 distribution centers.
Now, enter Amazon and Albertsons. Because of a government break up, Amazon bought on-line Pill Pak giving Rite Aid to grow its left over pickings it still owns. Albertsons is working with Amazon.com in the deal, it seems. This is, of course, old new...very old news, like two years ago.
What is even more surprising is that Blackstone and Carlyle and Bain Capital and Silver Lake Partners are all like KKR now. I can remember when KKR took Owens-Illinois, the glass maker, private and wrecked the company that was Headquartered in Toledo, Ohio. A lot of the employees have less to live on today as a result. But, as they say in mid-town New York, "You'll have that from time-to-time". Yes, you will, I guess. Yes, you will.
Some still call this American capitalization. I call it pure greed and greed never wins in the end.
Where Its Gonna Land Is Still Up In The Air!!!
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