The death of Sidney, Nebraska: How a hedge fund destroyed 'a good American town'

By Charles Couger, Alex Pfeiffer | Fox News

Hedge fund forced Cabela's merger, decimated jobs in Sidney, Nebraska

Are hedge funds destroying rural America? 'Tucker Carlson Tonight' investigates.

SIDNEY, Neb. – Major Republican donor Paul Singer has very few fans in this town of 6,300 people, where 80 percent of voters backed Donald Trump in 2016.

“I hope Paul Singer is proud of what he did,” Tim O’Connell, a local lumberyard owner, told Tucker Carlson Tonight. “I don’t know how he sleeps at night.”

....

The town’s mayor, Roger Galloway, told Tucker Carlson Tonight that the merger cost Sidney 2,000 jobs.

The sale of Cabela's to Bass Pro Shops was announced in 2016, a year after Singer’s Elliot Management disclosed an 11 percent stake, and said Cabela’s should explore a possible sale. Singer has earned the title of the “world’s most feared investor” and became a billionaire through tactics described as “vulture capitalism."

After the sale announcement, the stock price surged and Singer’s hedge fund cashed out within a week. Elliott Management reportedly made at least $90 million.-- excerpt, rest at link above --

I watch Carlson regularly, but I distrust his form of populism. I'm not sure if this incident is a repeat occurrence or a one-off. I don't know much about hedge funds except that it seems that so many wealthy and sketchy people get their wealth from hedge funds. Soros, Epstein, etc.

I saw the segment. Seemed pretty clear to me. Not something that I support at all. (Nor do I support that creepy senator.)

Quote: Skeeter wrote in post #3

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Dunno about their connection to hedge funds, but leveraged buyouts have been infamous since the 80s. This Cabala/BPS thing seems similar to those.

I'm no socialist but I'll tell you this: I think its a mistake for rank and file conservatives to continue to reflexively defend the wealthy - its clear they care very little for us and in fact in many cases are doing our cause a great deal of damage in exchange. (I don't mean to imply this in any way is what you suggest, BTW! Just my editorial comment)

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Quote: Skeeter wrote in post #6

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I think so too & for years felt the same way. The truth of it is the left's attacks on 'the rich' are nothing more than their foot in the door on their way to fleecing the middle class.

But out here on the west coast the wealthy are in the forefront of the movement to 'Stalinize' California. Almost to a person they are poisonous and it's obscene that people who think as we do would lift a finger to defend them unless on solid Constitutional grounds.

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