Re: Superb Harper's Article about the Life and Death of Hollywood
Posted: Tue Apr 16, 2024 5:39 pm
A little bit of this article alludes to how this is a phenomenon for the economy writ large, not just Hollywood. For Example: "Over the next decade, three asset-management companies—BlackRock, Vanguard, and State Street—would take over American business, becoming the largest shareholders of 88 percent of the S&P 500, the roughly five hundred biggest public U.S. companies. Private-equity firms—distinguished by their intent to sell the properties they acquire—would eventually be the backing for at least 7 percent of American jobs." The article also mentions a little bit about stock buybacks in Hollywood, which are rampant everywhere. A while ago, I mentioned on this site how Pfizer and Amgen have for years been spending more money buying back their own stocks than they were spending on all their drug research.