carpetbagger business definition

A newcomer or outsider who seeks influence or other personal gain. Carpetbaggers are often resented by others and may be perceived to lack long-term commitment. For example, an investor or group of investors acquire an initial stake in a business in an effort to overhaul the firm's finances and operations before selling the stake to others at a profit. The term originated during the Civil War when Northerners moved to the South in order to profit from reconstruction.