Disposable America

Global competition and offshoring enabled by containerized trade was responsible for some of the trouble American manufacturing encountered in the 1970s and 1980s. But the wholesale restructuring of the economy by private-equity firms to narrow the beneficiaries of business operations contributed mightily to the resentments still resounding through the country today. The straw, like everything else, was swept along for the ride. (View Highlight)

The sale was a boon for Maryland Cup’s shareholders, but the company did not fare well under the new management. Following the transaction, the Baltimore Sun relates, Maryland Cup executives flew to dinner with Fort Howard’s hard-charging CEO, Paul Schierl. He brought out a flip chart, on which he’d written the company’s “old” values—“service, quality, responding to customers.” He turned the page to show the company’s “new” values—“profits, profits, profits.” It’s like a scene out of Tommy Boy, or a socialist’s fever dream. (View Highlight)