Exactly. They sold out to get rich (or should I say *even* richer).
Exactly. They sold out to get rich (or should I say *even* richer).
In some instances, it was bankruptcy liquidations that resulted in a rent-seeker buying the "brand name" from the bankrupcy proceedings (to gain the "brand recognition" for their junk until enough people learn the "new X" brand is just junk).
So the original company owners never got rich, and a rent-seeker is just taking advantage of the "brand recognition" that name had built up over the years to make a quick buck for as long as they can squeeze blood from the corpse.
That certainly has the ring of truth about it; many thanks.
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