Varney & Co. host Stuart Varney reacts to Sen. Elizabeth Warren claiming Roark Capitals purchase of the Subway food chain creates a sandwich shop monopoly.
During his “My Take,” Monday, “Varney & Co.” host Stuart Varney criticized Sen. Elizabeth Warren, D-Mass., after she praised the Federal Trade Commission for investigating whether a private equity firm’s purchase of the Subway food chain created a “sandwich shop monopoly.”
STUART VARNEY: There are times when socialists make fools of themselves.
Case in point Sen. Elizabeth Warren.
She is going after a sandwich shop monopoly — the horror.
ELIZABETH WARREN APPLAUDS FTC’S ‘SANDWICH SHOP MONOPOLY’ PROBE OF SUBWAY ACQUISITION
U.S. Senator Elizabeth Warren questions witnesses during a Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill. (REUTERS/Evelyn Hockstein / Reuters Photos)
Here’s the story.
Roark Capital runs several sandwich chains, including Jimmy John’s, Schlotzsky’s, and Arby’s.
Now Roark wants to buy Subway.
Warren thinks that creates a “sandwich monopoly” which will reduce competition and that, she says, will lead to “higher food prices.”
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She wants the Federal Trade Commission to investigate.
This is laughable.
The senator evidently thinks that any enterprise that grows by giving consumers what they want is bad.
But wait, this is not a monopoly. There are a million competitors up and down every high street in the land.
Subway sandwich store signage is seen on Water Street on August 21, 2023 in New York City. (Getty Images / Getty Images)
Gas stations and corner stores make sandwiches, don’t they?
If you count a hamburger as a sandwich, then McDonald’s, Burger King, and Wendy’s make for some pretty serious competition.
If Roark Capital takes Subway, it won’t create a monopoly.
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It creates a more efficient sandwich maker that can cut costs and slow down price increases.
That’s not the way Sen. Warren sees it. She’s a socialist, always on the lookout for the wickedness of capitalism.
She wants to tax your wealth before you make the money.
Millionaire businessman and television personality Kevin OLeary, a.k.a. Mr. Wonderful, predicts more bankruptcies after the FTX fallout, and discusses his $45 million investment in North Dakota.
She wants to make corporations get a license from the government before they can operate.
Socialists are never happy. There’s always something they need to crack down on.
It’s understandable, of course. Sen. Warren was a professor at Harvard.
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