Rite Aid selling pharmacy operations to CVS, Walgreens and others

[GiqueCee]

8. This whole situation reeks...

... of the stench of private equity. In true corporate fashion, Rite Aid over-extended itself with expansions that it lacked the infrastructure and resources to manage effectively. The fatal quest for endless and unlimited growth, no matter the cost, has been the death of more companies that we can count. They never learn. Then the vulture capitalists smell blood and swoop in for the kill.
The staff at our local Rite Aid has always been courteous, helpful, and friendly. They know me by name, and I know theirs. It pains me to see them victimized by corporate gamesmanship that couldn't care less about the adverse effects their actions have on the people who worked tirelessly to accommodate their customers and keep the business running smoothly.
After Rite Aid's first bankruptcy, the shelves were never again fully stocked, and now we're told that certain prescriptions will no longer be filled. We have, with some regret for the fate of those loyal Rite Aid associates, switched pharmacies to one that is fully employee-owned, and thus, hopefully, insulated from the malicious depredations of hedge funds and private equity.