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Fred Mobster (lemmy.world)

submitted 7 months ago by [email protected] to c/[email protected]

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[–] [email protected] 3 points 7 months ago

That's what happened to brick and mortar companies any time a hedge fund gets a hold of them, it happened to Sears, it happened to McDonald's, and it's happening to Red Lobster, because in their minds, why make good products that people want to buy when they can make more money by owning land instead?

"We (McDonald's) are not technically in the food business. We are in the real estate business. The only reason we sell fifteen-cent hamburgers is because they are the greatest producer of revenue, from which our tenants can pay us our rent." - Harry J. Sonneborn, former McDonald's CEO