National news segment centers around challenges in Sidney, Nebraska
SIDNEY - A national television piece on Fox News Tuesday night featured Sidney, Neb. and how a hedge fund destroyed a "good American town."
"Tucker Carlson Tonight" spoke to Mayor Roger Gallaway, business leader Tim O’Connell, Economic Development Director Melissa Norgard and former Cabela's employees.
A year after hedge fund manager Paul Singer, of Elliot Management, disclosed an 11 percent stake in Cabela's, Bass Pro Shops announced it would purchase the outdoor retailer. The merger was finalized in 2017 and Sidney has lost nearly 2,000 jobs since.
Carlson said during the segment, which lasted nearly 11 minutes, Singer earned the title of the “world’s most feared investor” and became a billionaire through tactics described as “vulture capitalism."
After the sale of Sidney's main employer, the stock price surged and Singer’s hedge fund cashed out within a week. Elliott Management reportedly made at least $90 million.
"We still have great facilities, great infrastructure and great people," Gallaway told News Channel Nebraska on Nov. 6. "We'll make a great home for somebody."
Sen. Ben Sasse, R-Neb., has never commented on what happened to Sidney, according to Carlson. Carlson reported Sasse received the maximum donation from Singer for his 2014 campaign.
Neither Sasse's office, nor Elliott Management, commented on the story.
View the full video HERE.
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