FEATURE: ‘Barbarians at the gate’ enter the auto industry
There's nothing new about private equity firms, but the big groups are getting bigger and growing in influence. Seen by some as avaricious asset strippers with ever-increasing debt in pursuit of a quick buck, their supporters claim they are an essential part of modern capitalism and give busted companies a future. And your pension might depend on their continued success. Dave Leggett ponders their recent rise to prominence in the automotive sector.
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