Season 1 · Episode 6

Episode 5: Strap In Girls It's Time For An Episode About Private Equity

February 25, 20261h 42mExplicit

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<html>On this episode of Tran Girlismo it's time to break down the First Brands collapse, so strap in for the most transgender explanation of shadow banking and private equity you'll hear this week. Also, Jordan fills Victoria in on Renault/Alpine's F1/WEC implosion. Then we exercise our right to make this podcast a little bit of a photography show because we wanna, and talk about private equity again in the context of the Kodak Alaris/Eastman Kodak split and the surprising direct distribution of Ektar and Ektachrome!Kodak if you're listening we'll both sell out for a pallet full of Ektachrome :)Referenced stories: <a href="https://www.motor1.com/news/787179/stoptech-ceasing-operations/" target="_blank">Raybestos shut down @Motor1</a> <a href="https://archive.ph/20200221021719/https://www.washingtonpost.com/business/2019/07/24/private-equitys-role-retail-has-decimated-million-jobs-study-says/" target="_blank">2019 study on private equity job loss impacts @WaPo</a> <a href="https://blogs.cfainstitute.org/investor/2024/08/02/private-equity-in-essence-plunder/" target="_blank">Private equity failure rate @CFA Institute</a> <a href="https://www.theguardian.com/business/2024/oct/10/slash-and-burn-is-private-equity-out-of-control" target="_blank">Private equity discussion @The Guardian</a> <a href="https://www.instagram.com/reel/DU33MUgiWo5/" target="_blank">Robert F. Kennedy Jr.'s video with Kid Rock and cold-dippin' jeans @Instagram HHS</a> <a href="https://youtu.be/K4yCXIZ32lk?si=gPT_Zo85B06p5fmN" target="_blank">The 1963 Salad Oil Scandal @Well There's Your Problem</a> <a href="https://www.theguardian.com/business/2025/oct/10/first-brands-wall-street" target="_blank">First Brands bankruptcy filing @The Guardian</a> <a href="https://www.dandodiary.com/2025/11/articles/director-and-officer-liability/first-brands-sues-its-founder-for-grievous-misconduct/" target="_blank">First Brands sues Patrick James @D&O Diary</a> <a href="https://www.reuters.com/world/us/first-brands-creditor-says-23-billion-simply-vanished-seeks-probe-2025-10-09/" target="_blank">First Brands creditors noticing their money is gone @Reuters</a> <a href="https://www.reuters.com/business/finance/first-brands-founder-patrick-james-his-brother-indicted-fraud-2026-01-29/" target="_blank">First Brands fallout @Reuters</a> <a href="https://dbrs.morningstar.com/research/464750/first-brands-bankruptcy-tests-coverage-boundaries-in-trade-credit-insurance" target="_blank">Morningstar DBRS report on First Brands collapse</a> <a href="https://www.justice.gov/usao-sdny/pr/first-brands-executives-charged-multibillion-dollar-fraud" target="_blank">Federal Indictment of the two brothers @DOJ</a> <a href="https://archive.ph/jxn99" target="_blank">Patrick James story about his secretive life @Financial Times (archived)</a> <a href="https://news.dealershipguy.com/p/tricolor-the-messy-collapse-of-a-subprime-auto-lender-explained-2025-09-16" target="_blank">Tricolor collapse @DealershipGuy</a> <a href="https://www.cnn.com/2025/10/16/business/jamie-dimon-us-economy-cockroaches" target="_blank">Jamie Dimon cockroaches quote @CNN</a> <a href="https://www.economist.com/finance-and-economics/2025/10/19/why-wall-street-is-fearful-of-more-lending-blow-ups" target="_blank">IMF $4.5 trillion dollar study @The Economist</a> <a href="https://www.thedrive.com/news/tech/recaro-files-for-bankruptcy-four-years-after-being-sold-to-private-equity" target="_blank">Recaro bankruptcy (Jordan meant Recaro, not Sparco) @TheDrive</a> <a href="https://www.autonews.com/general-motors/an-gm-first-brands-exposure-urgent-0210/" target="_blank">GM has urgent meetings with suppliers @AutomotiveNews</a> Also, apparently the <a href="https://www.caranddriver.com/news/a69958232/stellantis-traditional-plug-in-hybrids-discontinued-2026/" target="_blank">Pacifica PHEV did get canned apparently</a>???? But they still have the 2026 model for sale on their website. We're doing a full-bore Stellantis episode in the very near future though don't worry! <a href="https://www.thedrive.com/news/the-2023-dodge-hornet-stings-alfa-romeos-comeback-source" target="_blank">Alfa Romeo pissed off about Dodge Hornet @The Drive</a> <a href="https://www.formula1.com/en/latest/article/everything-you-need-to-know-about-the-new-f1-rules-for-2026.48bv0VTxhIlhrQXmxercXk" target="_blank">New engine rules for F1 @F1</a> <a href="https://www.autoweek.com/racing/formula-1/a62450438/renault-confirms-end-to-f1-engine-project/" target="_blank">Renault cans F1 engine program at the end of 2025 @Autoweek</a> <a href="https://en.wikipedia.org/wiki/Renault_Formula_One_crash_controversy" target="_blank">"Crashgate" controversy @Wikipedia</a> <a href="https://www.bloomberg.com/news/articles/2026-02-12/renault-s-alpine-drops-endurance-racing-to-focus-on-formula-1" target="_blank">Alpine canning WEC in exchange for increased focus on F1 @Bloomberg</a> <a href="https://www.caranddriver.com/news/a69851602/alpine-considering-american-market/" target="_blank">Alpine still flirting with America with a crossover @Car And Driver</a><a href="https://www.caranddriver.com/news/a69851602/alpine-considering-american-market/" target="_blank"> </a><a href="https://www.motorsport.com/wec/news/lamborghini-withdraws-from-wec-hypercar-and-lmgt3/10675259/" target="_blank">Lamborghini out of WEC @Motorsports Network</a> <a href="https://www.dpreview.com/articles/9968457398/eastman-kodak-has-resumed-direct-sales-of-consumer-film-after-more-than-a-decade" target="_blank">Eastman Kodak reintroducing direct distribution @DPReview</a> <a href="https://petapixel.com/2026/01/21/ektar-and-tri-x-are-now-being-distributed-directly-by-kodak/" target="_blank">Ektar and Tri-X sold directly via Eastman Kodak @Petapixel</a> <a href="https://medium.com/double-feature-the-stories-that-made-me/photo-essay-the-white-only-skeletons-in-kodaks-closet-4d8045fcf753" target="_blank">Kodak structural racism @Medium (Madeline M. Dovi)</a> <a href="https://www.dpreview.com/news/4062330467/kodak-photo-businesses-sold-to-private-equity" target="_blank">Kodak Alaris sold to Kingswood Capital @DPReview</a> Our intro music as always is off stella spazzatura's album Horse Tranquilizer Simulator, <a href="https://stellaspazzatura.bandcamp.com/album/horse-tranquilizer-simulator" target="_blank">which you can find on Bandcamp</a>!</html>

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