Tucker Carlson discussed the greed of vulture capitalist Paul Singer on his show last evening. He said the average American never heard of him but he is a rock star in Washington who has tremendous influence over Republicans. He is a big donor.
As a hedge fund manager, he has also done some serious damage to small town America.
Mr. Carlson gave an example of the damage Singer is doing with a story about Cabela’s. Cabelas sold its company to Bass Pro Shops back in 2016.
Cabelas was located in the small town of Sidney, Nebraska where they employed nearly 2,000 people. All of the employees lost their jobs after the sale.
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Tucker reports that Singer purchased an 11% stake in Cabela’s back in 2015, then pushed the board to sell even though they were bringing in around 2 billion a year in gross profits. Fearing a lengthy lawsuit from Singer, Tucker says the company decided to look for a buyer and then sold to Bass Pro Shops.
Then, a week after the sale went through, Singer cashed out as the stock price soared, selling his stocks for $63 a share that he’d bought for $38 a share, making his hedge fund over 90 million.
Tucker contacted Nebraska Senator Ben Sasse for his opinion of the sale and of Singer, but no one got back to him. Singer is one of Sasse’s biggest donors.
One has to wonder if Mr. Singer is a Republican at all, but rather, just another crony capitalist/socialist buying influence.
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