Might Blackstone end up owning key things every American needs?

[GON]

Just received an e-mail that Blackstone plans on acquiring New Mexico's largest electricity provider, PNM services more than 500000 residential and business customers across the state.

TXNM Energy, PNM's parent company, filed an application to be acquired by Blackstone Infrastructure. We encourage you to read the Customer Notice to find more details.

This is fascinating. Since the 1980s, the reduction of competition in markets with barriers to entry have been making unstoppable gains. From broadcasting to healthcare to energy--- might oligopolies dominate every aspect of American commerce? Or even more- maybe monopolies?

Oligopoly is an economic market structure in which a few large firms dominate an industry or market. These firms have significant influence over prices and output. The term comes from the Greek words oligo (meaning "few") and polein (meaning "to sell").

In economics, a monopoly is a market structure where a single seller or producer dominates the entire market for a particular good or service. This single entity has significant market power, allowing it to control prices and output with little to no competition or viable substitutes. Monopolies are characterized by barriers to entry that prevent other firms from competing, and they can lead to high prices and reduced consumer choice.

 

[Klutch9]

Do to mean BlackRock? Unless the UOA industry is booming I don’t think Blackstone can afford to own that much.

 

[GON]

Do to mean BlackRock? Unless the UOA industry is booming I don’t think Blackstone can afford to own that much.

Blackstone is a global investment management firm, headquartered in New York City, that specializes in alternative assets like private equity, real estate, credit, and hedge funds. Founded in 1985, it is the world's largest alternative asset manager, managing over $1 trillion in assets for institutional and individual investors. Blackstone's business model involves building or acquiring companies to improve their performance and then selling them for a profit.

Blackstone is the world's largest alternative asset manager, focusing on private equity, real estate, and credit, where it actively owns and operates companies and properties. In contrast, BlackRock is the world's largest asset manager that primarily manages money for others through public market investments, such as ETFs and index funds, without taking active ownership of the underlying assets.

 

[4wd]

Blackstone is a global investment management firm, headquartered in New York City, that specializes in alternative assets like private equity, real estate, credit, and hedge funds. Founded in 1985, it is the world's largest alternative asset manager, managing over $1 trillion in assets for institutional and individual investors. Blackstone's business model involves building or acquiring companies to improve their performance and then selling them for a profit.

Blackstone is the world's largest alternative asset manager, focusing on private equity, real estate, and credit, where it actively owns and operates companies and properties. In contrast, BlackRock is the world's largest asset manager that primarily manages money for others through public market investments, such as ETFs and index funds, without taking active ownership of the underlying assets.

BlackRock was founded in 1998 - just a stones throw away

 

[RooflessVW]

Might oligopolies dominate every aspect of American commerce? Or even more- maybe monopolies?

Is this something you're only now realizing?

https://hbr.org/2017/12/the-rise-fall-and-rebirth-of-the-u-s-antitrust-movement

 

[Brian123]

Blackstone is a global investment management firm, headquartered in New York City, that specializes in alternative assets like private equity, real estate, credit, and hedge funds. Founded in 1985, it is the world's largest alternative asset manager, managing over $1 trillion in assets for institutional and individual investors. Blackstone's business model involves building or acquiring companies to improve their performance and then selling them for a profit.

Blackstone is the world's largest alternative asset manager, focusing on private equity, real estate, and credit, where it actively owns and operates companies and properties. In contrast, BlackRock is the world's largest asset manager that primarily manages money for others through public market investments, such as ETFs and index funds, without taking active ownership of the underlying assets.

Maybe we can get them to buy Fram and bring back the Ultra and make it Wire Backed.

 

[The_Jeff]

Blackstone is the world's largest alternative asset manager, focusing on private equity, real estate, and credit, where it actively owns and operates companies and properties. In contrast, BlackRock is the world's largest asset manager that primarily manages money for others through public market investments, such as ETFs and index funds, without taking active ownership of the underlying assets.

Well this sounds like a match made in heaven, looking forward to the merger.

 

[Cujet]

End stage capitalism. Where conglomerates purchase every viable business in sight, discontinue less profitable products and services. Then instantly quadruple the price of existing products. We've seen this trend for a full century. However it has finally come to fruition and encompasses everything.

From homeowners and auto insurance to aircraft parts and services. Many costs are way out of line. Lunch for two can reach $100 now, and all the food comes from Sysco or Cheney Brothers.

 

[RooflessVW]

End stage capitalism. Where conglomerates purchase every viable business in sight, discontinue less profitable products and services. Then instantly quadruple the price of existing products. We've seen this trend for a full century. However it has finally come to fruition and encompasses everything.

From homeowners and auto insurance to aircraft parts and services. Many costs are way out of line. Lunch for two can reach $100 now, and all the food comes from Sysco or Cheney Brothers.

Squeezing infinite growth out of a finite system.

There's only a few winners.

 

[Astro14]

Time to join @JeffKeryk in the solar revolution before they raise your rates!

 

[fdcg27]

Finding new investment opportunities is both hard and risky, but this is where real GDP growth comes from.
Buying existing operations (usually using heavy leverage) and squeezing them for a little more juice is both easier and safer but does nothing to promote growth.
Real engineering versus financial engineering.

 

[JeffKeryk]

End stage capitalism. Where conglomerates purchase every viable business in sight, discontinue less profitable products and services. Then instantly quadruple the price of existing products. We've seen this trend for a full century. However it has finally come to fruition and encompasses everything.

From homeowners and auto insurance to aircraft parts and services. Many costs are way out of line. Lunch for two can reach $100 now, and all the food comes from Sysco or Cheney Brothers.

I would certainly like to see more competition, heck any competition, to our home energy supplier. One company holds all the cards... What's a poor boy to do?

Perhaps technology can provide solution?

 

[Passport1]

Oligopoly is an economic market structure in which a few large firms dominate an industry or market

The duopoly, not the monopoly is the most common form of the oilgpoly. Think of the two defense aviation companies producing Navy/AF fighter jets. They have basically one customer (if other countries not counted because the US government sells to them).

 

[Cujet]

Time to join @JeffKeryk in the solar revolution before they raise your rates!

Huge fan of properly done rooftop solar w/LiFePO4 batteries and at least 2 synchronized inverters. DIY prices now compete well.

 

[JeffKeryk]

Time to join @JeffKeryk in the solar revolution before they raise your rates!

According to the Google, PG&E's electricity rates have increased by 41% in the last 3 years and 101% in the last 10 years, surpassing inflation.

Sometimes you get lucky.

 

[Cujet]

According to the Google, PG&E's electricity rates have increased by 41% in the last 3 years and 101% in the last 10 years, surpassing inflation.

Sometimes you get lucky.

Note to others: The trend lately is for utilities to not pay for the power a homeowner produces. Unlike the recent past. The idea that you can simply 'run the meter backwards' when the sun is shining is no longer valid.

Hence my love for a system with modest batteries and inverters. You provide as much of your own power as you choose, when you want it. Here in FL, the sunshine can run a daytime AC without having to 'spin the meter backwards', so to speak. Sized right, you can somewhat beat the system.

 

[JeffKeryk]

Note to others: The trend lately is for utilities to not pay for the power a homeowner produces. Unlike the recent past. The idea that you can simply 'run the meter backwards' when the sun is shining is no longer valid.

Hence my love for a system with modest batteries and inverters. You provide as much of your own power as you choose, when you want it. Here in FL, the sunshine can run a daytime AC without having to 'spin the meter backwards', so to speak. Sized right, you can somewhat beat the system.

Absolutely true, at least here. I am on the NEM2 (Net Metering) schedule that pays about 36 cents per kWh for generation. My YTD NEM electricity charges are $151; I will have a true up in March for about $70 perhaps, depending.
NEM2 ended in April 2023; NEM3 pays wholesale for generation, about 3 cents per kWh. NEM3 killed solar in CA; only the big companies like Sunrun still exist. Today you need a battery to have it make sense which doubles the project cost, and the breakeven point.

My NEM2 plan expires after 20 years. By then, the insane energy costs should have forced a solution. Otherwise, who the heck knows what prices will be? Regardless, we need to do better.

 

[Skippy722]

I would certainly like to see more competition, heck any competition, to our home energy supplier. One company holds all the cards... What's a poor boy to do?

Perhaps technology can provide solution?

Same with us. Blackstone purchased a "minority" stake in our provider, granted they were already publicly owned and coincidentally the highest rates in the state. It has only gotten worse.

 

[GON]

@JeffKeryk posts in this thread brought up a concern. Maybe highly unlikely, but nonetheless we have all seen a lot of unlikely things happen in our lifetime.

What if the sale of a utility allows the cancellation of solar residential contracts to sell energy to a utility?

Lawyers and lobbyists can do magical things.

 

[JeffKeryk]

@JeffKeryk posts in this thread brought up a concern. Maybe highly unlikely, but nonetheless we have all seen a lot of unlikely things happen in our lifetime.

What if the sale of a utility allows the cancellation of solar residential contracts to sell energy to a utility?

Lawyers and lobbyists can do magical things.

Infinity Energy, out of Rocklin, earned my business with a great deal on my solar project. They are no longer in business due to NEM3.
Yup.