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USM’s Michael Hillard quoted in New York Times story on Superrich

Photo of professor Michael Hillard

Michael Hillard, a USM economics professor and the executive director of its new Food Studies program, was quoted Dec. 10 in a prominent New York Times story on profits among private equity firms.

The investigative story, “How the Twinkie made the Superrich even Richer,” showed the change in fortunes for investors and everyday workers when the production of Twinkies cakes was halted and restarted again.

“People understand jobs going to China,” Hillard told the Times. “But no one has ever heard of these private equity firms that come in and do all this financial engineering. It is much more complicated and less visible.”

The story was written by reporters Michael Corkery and Ben Protess. Read the full story here.