Private equity giant Blackstone’s recent IPO raises serious questions about the impact that private equity companies—known for recent high profile buy-outs of public companies such as Equity Office Properties, Michaels Crafts Stores, Cadbury Schweppes Beverages and La Quinta Inns —have on the national economy, investors, and workers. A new blog www.blackstonerevealed.blogspot.com will track the Blackstone IPO .

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from the Private Equity Central blog

If there is one thing private equity firms have learned in the last few years, it is that with bigger deals comes increased scrutiny. Backlash against private equity continues to gain momentum, as the Service Employees International Union launched their anti-Blackstone Group blog on Tuesday. The union’s blog, www.blackstonerevealed.blogspot.com, was created to track Blackstone’s initial public offering, but it will also cover the industry as a whole, according to Andrew McDonald, a spokesperson for SEIU.

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from the Dealscape blog

Service Employees International Union has launched a blog dedicated to The Blackstone Group LP's planned initial public offering. Stephen Lerner, assistant to the president at S.E.I.U., told PE Hub's Dan Primack the purpose of the blog is "to help disburse wealth down the employment ladder" at Blackstone portfolio companies.

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from the PE Hub blog
 
It is the SEIU’s first-ever blog dedicated to anything besides organizing campaigns (although it once had a website called GTCRwatch.com), and promises to keep tabs on an offering that SEIU spokeswoman Renee Asher says “could have a huge impact on the economy and workers.” Asher says that SEIU has no positive or negative opinion on the IPO, but a quick read of the blog indicates a giant dose of skepticism. Perhaps most interesting, SEIU expresses concern about how Blackstone will not provide financial guidance.

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