Thirteen Ways You’re In Debt To The Company Store

That song 16 Tons reminds us how awful work conditions used to be before labor laws were enacted. Sadly, at the time, things like Ponzi Schemes and mergers of big money already existed.

The Great Depression ushered in a lot of protection for workers, such as the minimum wage and 40 hour work weeks. In the years that followed, other required benefits also came like social security, Medicare, worker’s compensation, and FMLA. The problem is that a lot of ground has been taken back by big businesses in the last 90 years.

We like to think that the company store no longer exists and our housing and goods we purchase aren’t bought on credit from the company for which we work. That isn’t necessarily the case. Ladies and gentlemen, I want to introduce you to the hedge fund. One in particular is The Blackstone Group. It acquired my former employer and believe it or not, I still owe my soul to them.

Here’s how:

1. 1. They own several healthcare companies. Those provide healthcare services. Whatever insurance doesn’t pay, you have to pay. I also worked for one of those companies.
2. 2. They own health insurance companies. Enough said!
3. 3. They own several hotel chains. If you travel, you give them your hard earned money. I even unknowingly joined the reward programs for two of them.
4. 4. They own Sea World, Legoland, Busch Gardens, and other prime vacation spots. Again, they are taking your leisure time and vacation money.
5. 5. They have real estate and mortgage investments. So, if you want to buy a house, yes, you can go through them.
6. 6. They own automobile supply parts companies.
7. 7. They own office supplies companies.
8. 8. They own financial companies that underwrite credit cards and bank accounts. Talk about your credit going to the company store.
9. 9. They own food companies.
10. 10. They own the Weather Channel.
11. 11. They are supporting Donald Trump’s re-election campaign. If you aren’t a Trump supporter, I suggest you look at ALL of their holdings and be careful where you spend your money.
12. 12. They have international real estate holdings. So, let’s say you want to quit your job with one of Blackstone’s companies and leave the country. Good luck with that!
13. 13. Last but not least, they just acquired Ancestry.com, which offers DNA and health data from your DNA (though I don’t recommend it). Now, they own your DNA if you’ve used that service. That’s something even Tennessee Ernie Ford couldn’t have imagined.