where I live wage theft has a minimum sentence after a certain amount, but the shareholders and board members that push the bosses to do it are the ones who need to change, they will always find someone to do it
Apparently they don’t go to jail for stealing all or part of your prescriptions either. It has happened to me at both Walgreens and Walmart. I no longer trust or use either pharmacy and count all my pills as soon as I get home from picking up a prescription.
The only reason a company like Walgreens is struggling is because they do everything they can to cut corners while those at the top pay themselves nice fat checks ! Something as essential as a drugstore should be successful jo matter what as it needed by the communities it provides to!
Google Ros Brewer who in 2.5 years took home close to $80 million and ran the company to ground. Where’s the effin accountability? CEO and CxOs come and go make their 10s of millions and vanish…
@@johnstamos1542 if some billionaire buys up the competition and jacks up their prices too, what are you going to do? 2x is the new price now. Just call it "inflation."
That’s the end goal of Capitalism, to make humanity destroy itself just so a select handful of them can have a higher imaginary number that won’t matter in the long run.
Failing or just not meeting ridiculous standards of profit growth? And they have been purposely understaffed for years now. Ask anyone who worked there. Also explains why hot topic has been so sterilized and corporate for a while now. Shameless profits over anything else as per usual. Private equity is a symptom, not the full cause of our woes.
@@jamipatton5673they literally expect the store to be operated as if they have an SFL, 2 floor workers and a CSA when they only pay to have that 1 SFL and a CSA on staff at any given point
They literally violate federal law as far as lunch breaks go, they dont have the coverage for an SFL to take a 30 min lunch break. Were expected to run an 8+ hr shift alone
I swear those private equity morons might be the dumbest people to ever exist …. Like no concept of long term wealth or future of their own clients or companies….like dumbass if you keep destroying the economy your money will be worth less and people will be competing for your destruction
Understaffed is putting it lightly…all the pharmacies wanna go without brick & mortar. That’s why they are slowly making them worse & worse. Support your local pharmacists.
That assumes you have a neighborhood pharmacist. The last one closed when the owner retired. Sadly, my closest pharmacy, a neighborhood Rite Aid closed after 25 years. The CVS in the nearby Target closed about 2 months later. If the Walgreens closes, I'll have a 15 minute walk to a CVS. Not terrible, but not the 2 minute walk I used to have.
The thing is though all of the corporate pharmacies have purposely put the neighborhood pharmacies out of business. Often they will buy the neighborhood pharmacies just to shut them down or turn it into a corporate Pharmacy. Corporate pharmacies like CVS will work with health insurance companies to push people towards CVS instead of the small business owned pharmacies. Then they turn around and keep the CVS Bare Bones staff so that the pharmacists are doing their jobs plus Running part of the store putting up stock etcetera things that are usually done by other store personnel. Our best chance of improving things is pushing more people to not only vote but educated voting and getting good people to run for local political offices. We have to get rid of these corporate politicians both Democrat and Republican!!
CVS has bought every independent pharmacy in my town and either moved in or shut them down. The Walgreens replaced a Burger King and faces the CVS on the corner of happy and hellbound. 😮
My daughter worked at Goody’s. The Founder sold all his shares to a private equity. They loaded it up with debt then filed for bankruptcy. The end result all of the stores closed inventory was liquidated. My daughter was supposed to get a promotion instead she needed a new job. If you hear Private Equity then you will know the end is near.😮
Sister in law just left a chronically understaffed and barely functioning Walgreens pharmacy desk after like 2 months. They barely paid her over minimum wage as a tech, which just seems backwards since they need education and training for a job like that, you’d think they’d make more than cashiers.
Same. I was a certified and state registered tech at Walgreens for years and yet I got paid less than some kids still in high school that did fast food next door. Walgreens doesn't care about it's employees, and they don't care about safety.
Pharmacy Technicians are underpaid, overworked and undervalued. Pharmacists make over 100k, meanwhile techs often make 40k +/-. Especially if you work in a hospital where if we make mistakes we can potentially harm the patient. Yet we're treated like our role doesn't matter in healthcare. CNAs, Lab techs and pharm techs are the lowest on the totem pole despite being vital roles in healthcare. If anyone ever considers becoming a pharm tech -- DON'T DO IT.
Man, do you want monopolies or do you want a market where new companies have a chance? I don’t care about those companies going under. The more I listen to leftists, the more it seems they want corporate control.
Has private equity ever improved a company or industry, or does it always just make it worse, milk it dry, and strip it for parts? Genuinely asking because I don't know.
@@polydex108 The Private Equity actually interested in turning a company around without saddling it with mountains of debt and doing all the shady typical PE stuff exists, but it’s much more rare than the typical PE you’re describing
I was literally wondering about the state of the company after finding out yet another formerly successful store is closing next month. I worked for Walgreens in the past and would be begging on the street before going back, as it would be safer and less degrading. I'm sorry to everyone who are stuck with them because of their insurance or proximity, and for all the staff.
The problem is the stock market. That whole system is killing everything and it needs to be fixed. I suppose making it illegal to secure loans against stock holdings would be a powerful first step, but too many billionaires would stop that immediately.
It's almost as if the private ownership of enterprises has lead to nothing but extraction and concentration of wealth into very few hands, at the expense of everything everyone else.
@@sunshinegirl1217 Insurance companies often have pharmacy affiliates. For example, I can only have my RXs fully covered at CVS. It's an annoying situation & I'm not surprised it extends to Medicare.
@sunshinegirl1217 certain Medicare plans themselves might be partners with specific pharmacies where you get "cheaper" meds from and nowhere else. Or they might have a med that is accepted by their plan that only Walgreens has because they have deals with the pharmaceutical companies themselves. It's legit annoying and locks in patients who would move to another pharmacy if they could. Insurance sucks so much 😫
I quit using Walgreens as my pharmacy several years ago after someone on their staff stole some of my medication, and I had to make a police report because even though they did a count which verified my claim, they did not give me the pills that were stolen. That happened twice with Walmart’s pharmacy years prior to the Walgreens incident. They gave me 30 pills instead of 90, but at least on that occasion, after I called them, they did a count and came up with the other 60. On the other occasion, I came to get my refill that was supposed to be in their files, and they claimed I’d already filled it, which I hadn’t. I reported that incident to the pharmacy review board and quit using the Walmart pharmacy. Since then, I always count my pills which is how I caught the Walgreen’s theft. They hire unqualified staff so can’t be trusted. Do they even bother to do background checks? Prior to these incidents, I never thought to count my pills.
How is paying their employees more going to help a darn thing? They’re understaffed as was the claim. You don’t magically raise people’s productivity with a raise. You demonstrate the hard work first, then raises come. Maybe you meant to ask for Walgreens to pay more employees?
@@nickthompson1812 Uhmm if you pay your employees poorly, nobody is going to want to work there. You can't recruit if your wages are below industry standard.
Almost like that's how capitalism works; it's exploitation without reparation. The less they can get away with paying workers, the more wealth the employer class can horde from everyone.
Sycamore will load Walgreens with as much debt as the banks will grant them, pay themselves massive bonuses with that borrowed money, and let Walgreens slide into bankruptcy. It's their business formula.
Even with Walgreens buy-one-get -one-free offers, there is no compelling reason to buy prescriptions or even supplements there. Barebone staffing and exorbitant prices... ummm... I'll pass!
Walgreens and CVS both just need to lower prices on par with grocery stores literally across the street and their problems go away. Why am I going to spend 50% more for anything they have in the store when I can just get it at the market price across the street? The idea that they need private equity to fix this is laughable.
They closed the store near me and now the local auto parts store is closing. All the conveniently located businesses in my neighborhood are shutting down even though demand has not decreased.
They tried hard to deliver shareholder value, and now they're being forced to sell out and giving shareholders a possibly underwhelming result. Even for shareholders M&A sucks because it limits what you can make, and if you've held a position long enough, it'll seal the deal that you're going to lose money on your investment. Overall, capitalism is really a tool right now to make a select few with godly power while also relieving them from responsibility for their actions. Everyone is getting effed
I pledge allegiance, to the flag, of the Corporate States of America. And to the Oligarchy, for which it stands, one nation, under Capitalism, for Liberty and Justice for the 1%. Amen
We have had so many stores closed because they were bought by private equity. It is their way to consolidate stores into just a few choices with higher prices and less choices. Buy from employee owned and B companies as much as possible. We know what is going on soo.. what can we do to stop? it
Yes, employee owned is something I like to support. Good point! We use Winco for groceries. It has worked pretty well for us. They are employee owned. I wished more businesses had the foresight to run this way. Winco doesn’t offer pharmacy services but we have no trouble getting that from Costco (which you don’t have to have a membership to use the pharmacy for those that don’t know … it’s open to the public.)
Paying them in stock promotes cost cutting. Not all cuts are bad but too much tanks a business. I remember when CVS and Walgreens couldn't open new locations fast enough. Lots of landlords are stuck with empty buildings now.
Its not ceos. Ugh. I mean i don't agree with the high pay either. But mathematically the ceo pay could be doubled and it wouldn't even matter. Ceo pay is rarely the problem.
Google Ros Brewer who in 2.5 years took home close to $80 million and ran the company to ground. Where’s the effin accountability? CEO and CxOs come and go make their 10s of millions and vanish…
@dgdave2673 No Stefano Pessina is the primary culprit here and has been running the company into the ground for the last 20 years…He siphons off money the company as the primary share holder e.g makes ridiculous cost cutting measures that benefit him. The execs he hires are just there to clean up his mess and take the fall so the board doesn’t blame him. He’s too much of a control freak to give her any real power anyway. The village MD mess was his idea to begin with; any real changes that are going to happen at the company will have to come at his removal. Otherwise it’s like steering an oil tanker
Glad that's not where I get my prescriptions (even though they are the closest Pharmacy to where I live). They have been going down hill for years and at one point were rotating a single pharmacist between 5 stores in our area (basically one day at each store) as they could only afford to keep 1 on staff between the 5 stores in a 20 mile radius. Bankruptcy Liquidation coming up I guess within 5 years of this takeover if it happens.... knowing the reputation of the Equity firm.
What they do is what happened with GameStop as well. They short the company so much, there becomes almost no hope for them to come back as those investors are hopeful for their downfall. It's actually quite sad because if a company has any downfall, they attack it like sharks until it finally dies
I must say I've generally had a positive experience with neighbohood Walgreens, where I lived, and worked, even in ghetto areas; nice, helpful employees, and good deals, especially on clearance candy and stuff after holidays🤶🎅fairly often, as well...!!! Holiday best wishes and blessings to the employees I hope things work out to the positive 🙏🙏🙏
Maybe they shouldn't charge exorbitant prices on their merchandise: bandaids, peroxide, antibiotic ointment, vitamins-- you shop at any chain pharmacy and buy three or four things and the bill is $40, or $80.
Duh. Their shelves are more like a Museum of Yesterdays stuff because they are unaffordable. They sell Dope and that's all they got going for them. Worst Business plan in the History of Mankind. If they had smaller stores and more efficient and friendly staff; they would do better. But they still have to compete with Walmart, so Remodeling into a Restaurant would be more profitable.
They not just equity company but stock driven company were many companies have gone bankrupt other are kicking out CEOs that actually do want improve live of it workers due fact it ruins profits getting rid of high dividends and stock value.
There's 3 Walgreens in my small city, 1 has already closed and we could do without the other. We still have 2 CVS, and 4 others, serving 15k population. Id say the market is currently over saturated.
There needs to be a reliable and transparent app with credible experts who review products and companies about the services and their effect on the environment and the people
How do you fix it? The entire model of Walgreens is predicted on the idea of a centrally located pharmacy/jumbo corner store that caters to the occasional wealthy person in a rush, while being the overpriced grocery alternative to poorer folks who are not as mobile. Once the money completely left the Walgreens adjacent neighborhoods, the business can't actually be sustained by the limited supply of soccer Mom's hitting the south central district once a month.
I used to coupon there and they have pushed me away with constant coupon policy changes but I know the coupon community was brining them lots if business! I also use there pharmacy about 40/60% of the time but since several other chains have left my area and Walgreens took the majority of there patients and they closed their 2nd smaller store it has gotten very un-neighborhood friendly and they appear to have lost lots of pharmacy customers as well. I was told my store is one of the busiest on the whole east coast!
They overfilled my prescription last time I sent there. They felt over pressured to get me my prescription quickly, when I wasn't even tripping about time
CVS is also not looking great. Several in my area shut down. My current one, the staff did a mass walk out. Its horrible, employees should be able to make a living and not be over worked. And PEOPLE NEED THEIR MEDS. Some people genuinely need their meds as a life or death situation. Closing pharmacies or pharmacies that are not safe is a massive human rights issue. I genuinely don't know where I'm going to go as these options dwindle down. Its something i need to talk to my dr about because something like in-clinic pharmacies might be the only option soon.
dude i was hired in one, the guy non stop complained to me while i was doing paperwork to start working 😭half the equipment was literally broken it was just a depressing environment everyone looked dead inside and he told me that corporate wanted to save 1 billion dollars so they’re cutting off essentials 😊
My Walgreens used to be so good, service/products and happy employees.. they even used to ask. "Did you find everything you were looking for today?" Yes was usually the answer. CVS half a block away.. most people went to CVS just for prescriptions.. now I stop at CVS.. if even for cat food... because I know Walgreens won't have any
Everything in a Walgreens is way too expensive. And being perpetually understaffed, they're often not stocked properly or messy. It may be the case that convenience stores just aren't nearly as profitable post-delivery era.
Yeah my prescription insurance has Walgreens as our 90 day script pharmacy and recently they had emergency closings of their pharmacy twice. And I was like what could be an emergency in a pharmacy fire or theft. So I asked bc I was so curious. It was lack of pharmacists to msn the pharmacy!!! It makes sense now if things are that bad that no one probably wants to work there. But their store doesn’t look as bad as the Riteaid did during bankruptcy proceedings. That was depressing. So I guess goodbye Walgreens. Horrible these rich money maker scheming corporations are a cancer!
This seems weird because I know someone we used to work at Walgreens and they said they would buy prescriptions for pennies and really mark them up. So how are they struggling? I’m glad that person doesn’t work there anymore.
They want all online shopping, no in store! I will be done with all the stores except food. If they put online, they'll really be ripping off their customers.
America is not a country, It's a business. Money trumps integrity and peoples lives and livelihoods.
Your oppression is their profession
we made company towns illegal so they made a company country
It's engineered that way
Well put 100% accurate.
A corporation without question!
Always has been
people go to jail for petty theft, but not Wage theft.
Starting a business to hide behind is a genuinely effective way to commit crimes and get away with it
If you steal enough money from poor/average people, it stops being a crime.
where I live wage theft has a minimum sentence after a certain amount, but the shareholders and board members that push the bosses to do it are the ones who need to change, they will always find someone to do it
Cough....UBER...cough, cough
Apparently they don’t go to jail for stealing all or part of your prescriptions either. It has happened to me at both Walgreens and Walmart. I no longer trust or use either pharmacy and count all my pills as soon as I get home from picking up a prescription.
Odd how these companies are declaring bankruptcy in the same year they give their CEO's and board members multimillion dollar bonuses.
Most of the labor costs are regular employees. Not ceos ;)
@@pdxmusl1510Regular employees are not getting multi-millionaire bonuses. I'm guessing.
@@pdxmusl1510ur a bit dull huh?
Yep, this is the most corrupt legal process to transfer wealth from the bottom to the top.
@@pdxmusl1510 lies, damned lies and statistics.
The only reason a company like Walgreens is struggling is because they do everything they can to cut corners while those at the top pay themselves nice fat checks ! Something as essential as a drugstore should be successful jo matter what as it needed by the communities it provides to!
A bottle of cough syrup there is literally 2x the cost of my local pharmacy, it seems like a pretty clear bad business model
Google Ros Brewer who in 2.5 years took home close to $80 million and ran the company to ground. Where’s the effin accountability? CEO and CxOs come and go make their 10s of millions and vanish…
And the hedge fund is going to be much worse.
No, the issue is there’s too many pharmacies. Too many chains expanded too much.
"because they are capitalizing"
@@johnstamos1542 if some billionaire buys up the competition and jacks up their prices too, what are you going to do? 2x is the new price now. Just call it "inflation."
We are actively destroying our own future in real time, it’s dumbfounding
That’s the end goal of Capitalism, to make humanity destroy itself just so a select handful of them can have a higher imaginary number that won’t matter in the long run.
the ones doing the destroying are not the ones whose futures are at issue. this "we" you speak of, it misleads you.
Walgreens isn’t good for you. It’s only there to sell you fake food and pseudo science medication
It is very funny, and i do not feel bad. Cats and dogs have better manners than humans. Get mental help, bud.
Correct.. we the people have allowed it to happen!
Failing or just not meeting ridiculous standards of profit growth? And they have been purposely understaffed for years now. Ask anyone who worked there.
Also explains why hot topic has been so sterilized and corporate for a while now. Shameless profits over anything else as per usual. Private equity is a symptom, not the full cause of our woes.
You nailed it- I'm a walgreens employee and it is deplorable how few hours they give us
@@jamipatton5673they literally expect the store to be operated as if they have an SFL, 2 floor workers and a CSA when they only pay to have that 1 SFL and a CSA on staff at any given point
They literally violate federal law as far as lunch breaks go, they dont have the coverage for an SFL to take a 30 min lunch break. Were expected to run an 8+ hr shift alone
I swear those private equity morons might be the dumbest people to ever exist …. Like no concept of long term wealth or future of their own clients or companies….like dumbass if you keep destroying the economy your money will be worth less and people will be competing for your destruction
Understaffed is putting it lightly…all the pharmacies wanna go without brick & mortar. That’s why they are slowly making them worse & worse. Support your local pharmacists.
That assumes you have a neighborhood pharmacist. The last one closed when the owner retired. Sadly, my closest pharmacy, a neighborhood Rite Aid closed after 25 years. The CVS in the nearby Target closed about 2 months later. If the Walgreens closes, I'll have a 15 minute walk to a CVS. Not terrible, but not the 2 minute walk I used to have.
The thing is though all of the corporate pharmacies have purposely put the neighborhood pharmacies out of business. Often they will buy the neighborhood pharmacies just to shut them down or turn it into a corporate Pharmacy. Corporate pharmacies like CVS will work with health insurance companies to push people towards CVS instead of the small business owned pharmacies. Then they turn around and keep the CVS Bare Bones staff so that the pharmacists are doing their jobs plus Running part of the store putting up stock etcetera things that are usually done by other store personnel. Our best chance of improving things is pushing more people to not only vote but educated voting and getting good people to run for local political offices. We have to get rid of these corporate politicians both Democrat and Republican!!
@@fdm2155 LOL
CVS has bought every independent pharmacy in my town and either moved in or shut them down. The Walgreens replaced a Burger King and faces the CVS on the corner of happy and hellbound. 😮
I would if they were halfway competitive.
My daughter worked at Goody’s. The Founder sold all his shares to a private equity. They loaded it up with debt then filed for bankruptcy. The end result all of the stores closed inventory was liquidated. My daughter was supposed to get a promotion instead she needed a new job. If you hear Private Equity then you will know the end is near.😮
Sister in law just left a chronically understaffed and barely functioning Walgreens pharmacy desk after like 2 months. They barely paid her over minimum wage as a tech, which just seems backwards since they need education and training for a job like that, you’d think they’d make more than cashiers.
Same. I was a certified and state registered tech at Walgreens for years and yet I got paid less than some kids still in high school that did fast food next door. Walgreens doesn't care about it's employees, and they don't care about safety.
Pharmacy Technicians are underpaid, overworked and undervalued. Pharmacists make over 100k, meanwhile techs often make 40k +/-. Especially if you work in a hospital where if we make mistakes we can potentially harm the patient. Yet we're treated like our role doesn't matter in healthcare. CNAs, Lab techs and pharm techs are the lowest on the totem pole despite being vital roles in healthcare. If anyone ever considers becoming a pharm tech -- DON'T DO IT.
Buh-bye Walgreens. Private equity killed Sears, K Mart, Toys R Us, and any anchor store found in a mall circa 1987.
Private Equity killer K-mart and Sears? I thought Eddie did that all on his own…
@@DaivG steve mnuchin helped kill sears for profit
Man, do you want monopolies or do you want a market where new companies have a chance? I don’t care about those companies going under. The more I listen to leftists, the more it seems they want corporate control.
Has private equity ever improved a company or industry, or does it always just make it worse, milk it dry, and strip it for parts? Genuinely asking because I don't know.
@@polydex108 The Private Equity actually interested in turning a company around without saddling it with mountains of debt and doing all the shady typical PE stuff exists, but it’s much more rare than the typical PE you’re describing
Corporations own and operate America!😢
No... America is a collection of people who are allowed to own and operate businesses and own property.
They and Tax Payer Funded Bureaucrats.
America and every town, city, state are corporations. Look it up for yourself. This world is run by contracts.
I was literally wondering about the state of the company after finding out yet another formerly successful store is closing next month. I worked for Walgreens in the past and would be begging on the street before going back, as it would be safer and less degrading. I'm sorry to everyone who are stuck with them because of their insurance or proximity, and for all the staff.
Sounds like Walgreens and Dollar General have the same Owners👹
Private equity firms should be regulated out of business....they only pick over the corps for what may have been left for vendors or employees
The problem is the stock market. That whole system is killing everything and it needs to be fixed. I suppose making it illegal to secure loans against stock holdings would be a powerful first step, but too many billionaires would stop that immediately.
"...too many billionaires "
It's almost as if the private ownership of enterprises has lead to nothing but extraction and concentration of wealth into very few hands, at the expense of everything everyone else.
My parents are on medicare and they are required to get their prescriptions from walgreens, so that adds an extra layer of yikes
what kind of medicare requires them to do that?
@@sunshinegirl1217 Insurance companies often have pharmacy affiliates. For example, I can only have my RXs fully covered at CVS. It's an annoying situation & I'm not surprised it extends to Medicare.
@sunshinegirl1217 certain Medicare plans themselves might be partners with specific pharmacies where you get "cheaper" meds from and nowhere else. Or they might have a med that is accepted by their plan that only Walgreens has because they have deals with the pharmaceutical companies themselves. It's legit annoying and locks in patients who would move to another pharmacy if they could. Insurance sucks so much 😫
The part that is being privatized.@@sunshinegirl1217
medicare advantage?
I quit using Walgreens as my pharmacy several years ago after someone on their staff stole some of my medication, and I had to make a police report because even though they did a count which verified my claim, they did not give me the pills that were stolen.
That happened twice with Walmart’s pharmacy years prior to the Walgreens incident. They gave me 30 pills instead of 90, but at least on that occasion, after I called them, they did a count and came up with the other 60. On the other occasion, I came to get my refill that was supposed to be in their files, and they claimed I’d already filled it, which I hadn’t. I reported that incident to the pharmacy review board and quit using the Walmart pharmacy.
Since then, I always count my pills which is how I caught the Walgreen’s theft. They hire unqualified staff so can’t be trusted. Do they even bother to do background checks? Prior to these incidents, I never thought to count my pills.
What pills?
interesting....I had a refill filled today and never thought about verifying the pill count. I will start doing that from now on.
Minimum wage workers
I remember, my grandpa had to count his pills.
No, they are DEI hires trained in store to become licensed pharmacy techs.
They rather go out of business sucking all blood left than pay their employees fair wages 😂😂😂
How is paying their employees more going to help a darn thing? They’re understaffed as was the claim. You don’t magically raise people’s productivity with a raise. You demonstrate the hard work first, then raises come.
Maybe you meant to ask for Walgreens to pay more employees?
@@nickthompson1812 Uhmm if you pay your employees poorly, nobody is going to want to work there. You can't recruit if your wages are below industry standard.
fair wages????.....what company pays their employees fair wages??
Almost like that's how capitalism works; it's exploitation without reparation. The less they can get away with paying workers, the more wealth the employer class can horde from everyone.
Sycamore will load Walgreens with as much debt as the banks will grant them, pay themselves massive bonuses with that borrowed money, and let Walgreens slide into bankruptcy. It's their business formula.
Most times you won't have a choice about where you can fill your prescriptions because your insurance will dictate where you can go.
Oh yeah, there is no such thing as a good private equity firm.
Thats not true. Without private equity firms most of the companies you like wouldn't have existed.
@@pdxmusl1510 Nope.
They overprice everything why would anyone ever shop there why would I go there and buy something for 10$ when my grocery store has it for 4$
Even with Walgreens buy-one-get -one-free offers, there is no compelling reason to buy prescriptions or even supplements there. Barebone staffing and exorbitant prices... ummm... I'll pass!
I love my local Walgreens. They are understaffed but prices are BETTER than my grocery store (in the same plaza).
NOTHING on earth has gotten better after a private equity firm bought it. This will be the beginning of the end
End of hopefully you being a drama queen. Actually look up what a private equity firm is and what it does.
They lost all my business when they penalized me with higher prices for not getting their shopper's card. They need to go our of business anyway.
Walgreens and CVS both just need to lower prices on par with grocery stores literally across the street and their problems go away. Why am I going to spend 50% more for anything they have in the store when I can just get it at the market price across the street? The idea that they need private equity to fix this is laughable.
Its not meant to fix it but to destroy it.
And look at who you just voted in...and the options that were provided.
Don't need to wonder why Luigi exists.
Thanks for naming Sycamore
Now to make those who fund these acquisitions!
The American healthcare system is all about money money money. That's why a public insurance option for all is vital.
When private equity gets ahold of a company, they strip it like a stolen car.
They closed the store near me and now the local auto parts store is closing. All the conveniently located businesses in my neighborhood are shutting down even though demand has not decreased.
My father, born in 1918, used to say "Take down the flag and put up a dollar sign". Do we have to collapse to correct our ways?
Yes. I think that's where we're headed. 😢 It'll affect all of us.
Your channel is where quality content comes first. Continue to delight us with your amazing videos!😁💫😘
They tried hard to deliver shareholder value, and now they're being forced to sell out and giving shareholders a possibly underwhelming result.
Even for shareholders M&A sucks because it limits what you can make, and if you've held a position long enough, it'll seal the deal that you're going to lose money on your investment.
Overall, capitalism is really a tool right now to make a select few with godly power while also relieving them from responsibility for their actions. Everyone is getting effed
I work at Walgreens bro fml
Yea they gotta get rid of that evil company!
Way more than that. We need to get rid of capitalism. Profit is not earned - Profit is theft.
Look at the list of top pharmacy chains.
@AtomicBuffalo Top 5 best- Good Neighbor, Sam's Club,Publix, Amazon & CVS! Your point is?
Those are not Private Equity firms but liquidators hiding under the Private Equity Firm name.
Private equity ruins everything.
I pledge allegiance, to the flag, of the Corporate States of America. And to the Oligarchy, for which it stands, one nation, under Capitalism, for Liberty and Justice for the 1%. Amen
😂😂😂😂😂
We have had so many stores closed because they were bought by private equity. It is their way to consolidate stores into just a few choices with higher prices and less choices. Buy from employee owned and B companies as much as possible. We know what is going on soo.. what can we do to stop? it
Yes, employee owned is something I like to support. Good point!
We use Winco for groceries. It has worked pretty well for us. They are employee owned. I wished more businesses had the foresight to run this way. Winco doesn’t offer pharmacy services but we have no trouble getting that from Costco (which you don’t have to have a membership to use the pharmacy for those that don’t know … it’s open to the public.)
Private Equity firms should be banned or so heavily regulated, it’s not worth existing.
Sounds like Bain Capital. They had the same track record
If the free market can't handle the task of providing medication safely and timely, then it's time for a public option.
Maybe not give your Ceo such an excessive amount
Paying them in stock promotes cost cutting. Not all cuts are bad but too much tanks a business. I remember when CVS and Walgreens couldn't open new locations fast enough. Lots of landlords are stuck with empty buildings now.
Its not ceos. Ugh. I mean i don't agree with the high pay either. But mathematically the ceo pay could be doubled and it wouldn't even matter. Ceo pay is rarely the problem.
Bad management, brewer got paid $15M. For what?
Thank you for your professionalism and talent. Your videos are always impressive.🍄☝️🍦
Google Ros Brewer who in 2.5 years took home close to $80 million and ran the company to ground. Where’s the effin accountability? CEO and CxOs come and go make their 10s of millions and vanish…
And none of them went to jail after the 2008 financial plundering, remember?
@dgdave2673 No Stefano Pessina is the primary culprit here and has been running the company into the ground for the last 20 years…He siphons off money the company as the primary share holder e.g makes ridiculous cost cutting measures that benefit him. The execs he hires are just there to clean up his mess and take the fall so the board doesn’t blame him. He’s too much of a control freak to give her any real power anyway. The village MD mess was his idea to begin with; any real changes that are going to happen at the company will have to come at his removal. Otherwise it’s like steering an oil tanker
We have a term for this. It's called vulture capitalism.
Walgreens has great difficulty filling even regular prescriptions without problems, digital errors, and mistakes. I changed pharmacies.
It never ends well when private equity takes over the company. They cut cut cut until there’s nothing left. 😂
Same thing with Kroger's pharmacy.
Another reason why we need universal Health Care. We can regulate the market with universal Health Care
HAha Trump wants you to have NO health care at all! 😂
They are called vulture capitalist, that's what mitt Romney is with bain capital
Yeah, PE, because they make everything better. At this point, if we were a responsible society we'd outlaw Private Equity.
Glad that's not where I get my prescriptions (even though they are the closest Pharmacy to where I live). They have been going down hill for years and at one point were rotating a single pharmacist between 5 stores in our area (basically one day at each store) as they could only afford to keep 1 on staff between the 5 stores in a 20 mile radius. Bankruptcy Liquidation coming up I guess within 5 years of this takeover if it happens.... knowing the reputation of the Equity firm.
How are they struggling lol. They basically have a monopoly, pay their workers basically nothing and rip or the elderly.
😂Oh hey. I forgot to tell you.
We have somewhat less than four years before pretty much everybody is homeless😂
And donnie ain’t gonna fix it.
No one will fix it. Not in politics from either party, anyway. It's a big club and they're ALL in it.
It will be weird to live in a world where my youngest probably won't remember WALGREENS 😐
This is what happens when you let big companies eat up the little companies…one, very large, sick company.
#LateStageCapitalism
What they do is what happened with GameStop as well. They short the company so much, there becomes almost no hope for them to come back as those investors are hopeful for their downfall. It's actually quite sad because if a company has any downfall, they attack it like sharks until it finally dies
That’s funny those are companies I didn’t know were bought out but I had stopped shopping there because they started to suck
The Hot Topic comparison at the end went over my head.
Private equity will definitely permanently sink Walgreens. That’s basically all they do.
Walgreens used to be so great! One stop shopping for so much. Now it’s going downhill. 😢
I must say I've generally had a positive experience with neighbohood Walgreens, where I lived, and worked, even in ghetto areas; nice, helpful employees, and good deals, especially on clearance candy and stuff after holidays🤶🎅fairly often, as well...!!!
Holiday best wishes and blessings to the employees I hope things work out to the positive 🙏🙏🙏
Maybe they shouldn't charge exorbitant prices on their merchandise: bandaids, peroxide, antibiotic ointment, vitamins-- you shop at any chain pharmacy and buy three or four things and the bill is $40, or $80.
Here 🏴 there's no prescription charges at the pharmacy. I understand this the same in Wales 🏴
🇬🇧
True but you can't get half of the meds available in the US 🇺🇸
@chiaralistica
What do you mean? I doubt this.
I don't even get why anyone shops there anyways. Everything there (especially medications) are so much more expensive than everywhere else.
we're gonna end up with just walmart and amazon if these people have their way.
Well, I know where I won’t be shopping in the future.
The Walgreens I use keeps temporarily closing randomly for a few hours out of nowhere. We're assuming they don't have staff to cover shifts.
Duh. Their shelves are more like a Museum of Yesterdays stuff because they are unaffordable. They sell Dope and that's all they got going for them. Worst Business plan in the History of Mankind.
If they had smaller stores and more efficient and friendly staff; they would do better.
But they still have to compete with Walmart, so Remodeling into a Restaurant would be more profitable.
They not just equity company but stock driven company were many companies have gone bankrupt other are kicking out CEOs that actually do want improve live of it workers due fact it ruins profits getting rid of high dividends and stock value.
Good riddance! Nothing good about Walgreens or CVS! Both are overpriced dumps!
There are "pharmacy deserts" where there are now pharmacies for poor or isolated people.
This is welcoming and heartwarming. I am so glad these closings are happening.
There's 3 Walgreens in my small city, 1 has already closed and we could do without the other. We still have 2 CVS, and 4 others, serving 15k population. Id say the market is currently over saturated.
Where is Congress? They need to end equity investor buyouts and destroying of businesses.
It's called "vulture capitalism". There's actually a name for it.
We need laws against firms like this owning anything
There needs to be a reliable and transparent app with credible experts who review products and companies about the services and their effect on the environment and the people
How do you fix it? The entire model of Walgreens is predicted on the idea of a centrally located pharmacy/jumbo corner store that caters to the occasional wealthy person in a rush, while being the overpriced grocery alternative to poorer folks who are not as mobile. Once the money completely left the Walgreens adjacent neighborhoods, the business can't actually be sustained by the limited supply of soccer Mom's hitting the south central district once a month.
I used to coupon there and they have pushed me away with constant coupon policy changes but I know the coupon community was brining them lots if business! I also use there pharmacy about 40/60% of the time but since several other chains have left my area and Walgreens took the majority of there patients and they closed their 2nd smaller store it has gotten very un-neighborhood friendly and they appear to have lost lots of pharmacy customers as well. I was told my store is one of the busiest on the whole east coast!
Here in Texas both Walgreens and CVS’s have been closing. I give it another 1 year before they all close.
They overfilled my prescription last time I sent there. They felt over pressured to get me my prescription quickly, when I wasn't even tripping about time
CVS is also not looking great. Several in my area shut down. My current one, the staff did a mass walk out. Its horrible, employees should be able to make a living and not be over worked. And PEOPLE NEED THEIR MEDS. Some people genuinely need their meds as a life or death situation. Closing pharmacies or pharmacies that are not safe is a massive human rights issue. I genuinely don't know where I'm going to go as these options dwindle down. Its something i need to talk to my dr about because something like in-clinic pharmacies might be the only option soon.
dude i was hired in one, the guy non stop complained to me while i was doing paperwork to start working 😭half the equipment was literally broken it was just a depressing environment everyone looked dead inside and he told me that corporate wanted to save 1 billion dollars so they’re cutting off essentials 😊
My Walgreens used to be so good, service/products and happy employees.. they even used to ask. "Did you find everything you were looking for today?" Yes was usually the answer. CVS half a block away.. most people went to CVS just for prescriptions.. now I stop at CVS.. if even for cat food... because I know Walgreens won't have any
Rite Aid just came out of bankruptcy.
At least we are maintaining standards in the Pharmacy.
As a former Walgreens employee, I'm over the moon at this news. Switch to a different pharmacy y'all so we can make s'mores with this dumpster fire
Everything in a Walgreens is way too expensive. And being perpetually understaffed, they're often not stocked properly or messy. It may be the case that convenience stores just aren't nearly as profitable post-delivery era.
As it is, Rite Aid has all but shut down. Walgreens is CVS's only competition beyond supermarket pharmacies.
I never shop at Walgreens. Never have, never will.
You’re gonna see laws that allow certain psychedelics to only be sold through certain pharmacies which happen to be the size and shape of Walgreens
Even British companies are owned by American private equity.
Who can sue Sycamore partners? How can we create higher penalties for private equity firms? When fees don't work, what do we the people do next?
Medicare for all!
DG employee here. I feel their pain.
Yeah my prescription insurance has Walgreens as our 90 day script pharmacy and recently they had emergency closings of their pharmacy twice. And I was like what could be an emergency in a pharmacy fire or theft. So I asked bc I was so curious. It was lack of pharmacists to msn the pharmacy!!! It makes sense now if things are that bad that no one probably wants to work there. But their store doesn’t look as bad as the Riteaid did during bankruptcy proceedings. That was depressing. So I guess goodbye Walgreens. Horrible these rich money maker scheming corporations are a cancer!
This seems weird because I know someone we used to work at Walgreens and they said they would buy prescriptions for pennies and really mark them up. So how are they struggling? I’m glad that person doesn’t work there anymore.
They want all online shopping, no in store! I will be done with all the stores except food. If they put online, they'll really be ripping off their customers.
That’s my concern too.
It's odd just how destructive these PE companies have been.
My company insurance plan requires Walgreens as their only pharmacy in network. This is a major problem.