Capitalism is great, but things can get problematic when a for-profit private company attempts a hostile takeover of a community’s public institution. For months, the mega private equity Library Systems & Services targeted Samuels Public Library of Warren County, Virginia. However, the local residents of the county weren’t having it. “They tried to take this library away from the community, and the community said no,” says the director of Samuels Public Library. “This is what happens when people show up,” he expressed, detailing how members of the community did everything in their power to stop the library’s privatization. Public libraries “should stay public, local, and open to all,” as the director puts it.
Upon hearing the news about this attempted takeover of a local public library, online users were not happy. “Private equity is such a cancer. We can’t have anything nice, can we...” complained a top commenter on Reddit. Another person responded, saying how being bought by private equity is a “night-and-day” change, with ownership “wanting to acquire and retain talent to ownership wanting everyone to quit without having to do layoffs.” No doubt, if Library Systems & Services had taken over Samuels Public Library successfully, many of those working at the institution would have found their employment in jeopardy.
While avoiding acquisition from Library Systems & Services is a victory for Samuels Public Library, “the real villain is the county,” as one Redditor puts it. According to the library’s director, it was the Warren County Board of Supervisors’ decision to cut funding for the library that caused private equity to swoop in with hopes of acquisition. As a result, “its future remains uncertain,” with Samuels Public Library operating on emergency funds to stay afloat and service its community. It is likely the funding and budget cut came about as a result of DOGE’s effect on the country.
“When politicians fail to protect valuable institutions that are public, they have violated their oath of office,” an individual states, criticizing those in power for allowing private equity to simply take what it wants.
