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OFFICIAL VERIFIED

Private Equity at Work: When Wall Street Manages Main Street

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3.95
48,621 ratings · 5,537 reviews
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OFFICIAL VERIFIED

Private Equity at Work: When Wall Street Manages Main Street

3.95 48,621 ratings · 5,537 reviews
Discover Private Equity at Work: When Wall Street Manages Main Street by Eileen Appelbaum. Start reading today and explore ideas, insights, and experiences that stay with you.

Overview: Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street. Are these firms white knights that ride in to save failing businesses or are they predatory intermediaries that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of private equity firms, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economists Eileen Appelbaum and Rosemary Batt carefully evaluate a full range of evidence including original case studies, reviews of legal documents and media coverage, and a synthesis of existing academic scholarship to demonstrate the effects of private equity on American businesses. Their investigation shows that while private equity firms can have some positive effects on the operations and growth of small and mid-sized companies, the interventions of these firms more often than not lead to significant negative consequences for many American businesses and workers. While prior research on private equity has focused almost exclusively on the financial performance of private equity-owned companies, Private Equity at Work provides a new and invaluable roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit investors. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 unique companies representing at least 8 million employees have been purchased by private equity firms. More recently, however, private equity firms have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, and saddles otherwise healthy companies with debt. Appelbaum and Batt show that private equity firms financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies. These risky decisions include selling property assets, terminating contracts with unions, and outsourcing operations in order to cut costs. Because the law defines private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. Thus, any debts or costs of bankruptcy incurred fall on businesses and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms."

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Details & Genres

Economics Business Finance Private Equity Non Fiction Economics Finance Political Economy
Length N/A pages
Published March 31, 2014
ISBN-13 19524598

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Eileen Appelbaum
About the Author Eileen Appelbaum
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Eileen Appelbaum is a writer and avid reader based in the Pacific Northwest. Before pursuing writing full-time, they spent over a decade working in education. When not working on their next book, Eileen Appelbaum can usually be found hiking with their dog or trying out new coffee shops in their neighborhood.

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Jennifer Hall
Jennifer Hall April 29, 2024
I was pleasantly surprised. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Would probably read it again at some point.
Eric Walker
Eric Walker September 15, 2025
Finished it in a couple of days. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Would probably read it again at some point.
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Elizabeth Rivera
Elizabeth Rivera June 15, 2024
Honestly one of the better books I've read lately. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. A solid 5/5 for me.
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I liked it for the most part. The middle dragged a tiny bit, but the ending totally made up for it. Still a good book.
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Sharon Diaz March 25, 2025
I liked it for the most part. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. Enjoyable weekend read.
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Kevin Carter June 03, 2024
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Ashley Parker September 27, 2024
Pretty good overall. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. A solid 4 stars from me.
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Kenneth Lewis April 29, 2024
Glad someone recommended this to me. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Glad I picked this up.
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Lisa Nelson December 12, 2024
I was pleasantly surprised. The author did a great job wrapping everything up at the end. No weird plot holes left behind. A solid 5/5 for me.
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Barbara Lopez January 02, 2024
Glad someone recommended this to me. I loved how the story unfolded. It kept me guessing without being too confusing. Glad I picked this up.
Jennifer Allen
Jennifer Allen November 16, 2024
It was okay. It had some good moments, but the overall plot felt a bit disjointed in the second half. Probably won't read it again, but it was an okay way to pass the time.
Margaret King
Margaret King September 27, 2025
Pretty good overall. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. I'd probably recommend it to a friend.
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Lisa King December 18, 2025
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I was pleasantly surprised. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Will be looking for more from this author.
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Sharon Hill
Sharon Hill October 15, 2024
I was pleasantly surprised. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Worth the time and money.
Jennifer  Davis
Jennifer Davis July 02, 2024
I liked it for the most part. It held my attention, even if a few things were a little predictable. Not bad at all.
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Linda Martinez July 10, 2024
Finished it in a couple of days. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Will be looking for more from this author.
Edward Clark
Edward Clark January 12, 2025
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I liked it for the most part. Interesting premise and executed fairly well. Just a few slow chapters here and there. A solid 4 stars from me.
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Such a great read. I got really invested in the main character's journey. Everything just clicked for me. Will be looking for more from this author.
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Michelle Martinez March 11, 2024
Glad someone recommended this to me. I loved how the story unfolded. It kept me guessing without being too confusing. Definitely recommend it if you like this genre.
Jacob Hill
Jacob Hill October 16, 2024
Glad someone recommended this to me. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Would probably read it again at some point.
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Kimberly Allen April 14, 2025
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Carol Torres January 23, 2025
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Michelle Gomez June 07, 2025
I liked it for the most part. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. A solid 4 stars from me.
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I liked it for the most part. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. A solid 4 stars from me.
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A very satisfying read. I got really invested in the main character's journey. Everything just clicked for me. Worth the time and money.
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A very satisfying read. I loved how the story unfolded. It kept me guessing without being too confusing. Will be looking for more from this author.
Donna Garcia
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Honestly one of the better books I've read lately. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. A solid 5/5 for me.
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Glad someone recommended this to me. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Worth the time and money.
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Honestly one of the better books I've read lately. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Definitely recommend it if you like this genre.
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Such a great read. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Would probably read it again at some point.
Sandra Nguyen
Sandra Nguyen February 21, 2024
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It was just alright. It felt a bit repetitive in the middle. Could have been shorter. Might work better for someone else, just wasn't completely for me.
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Honestly one of the better books I've read lately. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Worth the time and money.
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Honestly one of the better books I've read lately. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Definitely recommend it if you like this genre.
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Gary Ramirez
Gary Ramirez February 19, 2024
I was pleasantly surprised. I loved how the story unfolded. It kept me guessing without being too confusing. Worth the time and money.
David Jackson
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Elizabeth Lopez
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Honestly one of the better books I've read lately. I got really invested in the main character's journey. Everything just clicked for me. Definitely recommend it if you like this genre.
Gary Ramirez
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I liked it for the most part. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. I'd probably recommend it to a friend.
Jessica Evans
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Edward Walker
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Kenneth Lewis
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Patricia Williams
Patricia Williams June 27, 2025
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Margaret Hall
Margaret Hall May 12, 2024
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Melissa Martin
Melissa Martin May 01, 2025
Finished it in a couple of days. I loved how the story unfolded. It kept me guessing without being too confusing. A solid 5/5 for me.
Eric Reyes
Eric Reyes August 04, 2024
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Dorothy Sanchez
Dorothy Sanchez November 27, 2024
Honestly one of the better books I've read lately. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Worth the time and money.
Steven Hall
Steven Hall November 09, 2024
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Richard Jackson
Richard Jackson December 10, 2025
Finished it in a couple of days. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Worth the time and money.
Paul Anderson
Paul Anderson February 01, 2024
Really enjoyed this one. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Definitely recommend it if you like this genre.
Cynthia Taylor
Cynthia Taylor April 07, 2025
Pretty good overall. It held my attention, even if a few things were a little predictable. Not bad at all.
Emily Lewis
Emily Lewis January 10, 2024
Glad someone recommended this to me. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Will be looking for more from this author.
Ashley  Parker
Ashley Parker February 16, 2025
Pretty good overall. It held my attention, even if a few things were a little predictable. I'd probably recommend it to a friend.
Anthony  Parker
Anthony Parker December 22, 2025
It was just alright. The pacing was a bit slow and I found myself skimming a few pages. It wasn't terrible, just okay. It's fine if you have nothing else to read.
Brian Baker
Brian Baker March 16, 2025
I was pleasantly surprised. I got really invested in the main character's journey. Everything just clicked for me. Definitely recommend it if you like this genre.
Emily Taylor
Emily Taylor May 10, 2025
Honestly one of the better books I've read lately. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Definitely recommend it if you like this genre.
Christopher Cruz
Christopher Cruz February 04, 2024
I liked it for the most part. The middle dragged a tiny bit, but the ending totally made up for it. A solid 4 stars from me.
Richard Lewis
Richard Lewis December 12, 2024
I have mixed feelings about this one. It felt a bit repetitive in the middle. Could have been shorter. It's fine if you have nothing else to read.
Margaret Hall
Margaret Hall June 22, 2024
Such a great read. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Would probably read it again at some point.
Christopher Scott
Christopher Scott September 27, 2024
Such a great read. The author did a great job wrapping everything up at the end. No weird plot holes left behind. A solid 5/5 for me.
Deborah Lopez
Deborah Lopez December 16, 2025
Glad someone recommended this to me. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Would probably read it again at some point.
Michelle Martinez
Michelle Martinez July 18, 2024
Really enjoyed this one. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Would probably read it again at some point.
Brian Clark
Brian Clark October 22, 2025
Good, but not quite perfect. I liked the main character, though some of the side plots were just okay. Not bad at all.
Stephanie Cruz
Stephanie Cruz August 31, 2025
A very satisfying read. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Glad I picked this up.
Kevin Lewis
Kevin Lewis March 10, 2024
Finished it in a couple of days. I got really invested in the main character's journey. Everything just clicked for me. A solid 5/5 for me.
Michael Green
Michael Green November 08, 2024
Honestly one of the better books I've read lately. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Glad I picked this up.
Daniel Flores
Daniel Flores October 05, 2024
I was pleasantly surprised. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Will be looking for more from this author.
George Wilson
George Wilson October 11, 2025
Honestly one of the better books I've read lately. I loved how the story unfolded. It kept me guessing without being too confusing. Would probably read it again at some point.
Stephanie Cruz
Stephanie Cruz February 21, 2025
Finished it in a couple of days. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Definitely recommend it if you like this genre.
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