Tuesday, August 8, 2017

Rapha bought by Walmart family

News that Rapha has finally been sold for a cool $200 mil has been reported.

Not everybody is happy it seems judging by some of the social media responses:

"I’ve been a Rapha fanboy for a long time. I am an RCC member, and am eagerly anticipating the opening of the club here in Los Angeles. But, this with the Waltons..they’re the family that begs for deregulation in every sense, fights any kind of unionization, pushes back on any increase in wages for their workers via minimum wage increases, and then has the audacity to fight the higher taxes that then subsidize the social safety net needed to buoy their underpaid employees lives and keep them solvent.
The capital for this deal was made entirely on the backs of those folks. 1,500,000 of them that work for an average of $13.69 an hour.
 The Waltons suck for reasons that are much bigger than cycling."

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