You never hear “Aw man, the new owners are awesome! Everything’s so much better now!”, it’s always a downgrade, usually a significant one. It’s never about improvement and always about cutting costs and leaving the buyee company to die.
You never hear “Aw man, the new owners are awesome! Everything’s so much better now!”, it’s always a downgrade, usually a significant one. It’s never about improvement and always about cutting costs and leaving the buyee company to die.
Probably never. Especially if it is a private firm (still, a shitty patriarchal hierarchy) being acquired by a “publicly” traded company (all of the downsides, but without the pretense of a “benevolent” patriarch who’s looking out for you, the wage worker, like a “family”). In a private firm, the third generation failson who owns it MIGHT decide that they can put off the second yacht for another couple of years. They MIGHT be personally fooled that some form of capital-labor peace is possible. They MIGHT hesitate to crucify some of the workers their dad personally introduced them to. When push comes to shove though, your ass is going out on the street long before they sell their boat. On the other hand, a “public” firm will turn the screws relentlessly, regardless of whether they are making record profits or facing hardship.
The trend of private firms going public seems to be reversing recently, though. It may be the culmination of years of stock buy-backs. I am sure this is not a good thing either. The concentration of wealth and power is still only going in one direction.
Taking a few steps back, these mergers and acquisitions are essentially the process through which industrial capitalism transformed into the monopoly capitalism / imperialism we know and love today. Despite all that masturbation about free markets and competition, we end up with only one company in any market segment. The consumers have nowhere else to go, and neither do the technicians / specialists doing the actual work.