Entries in News Coverage (8)
Private equity's a part of it, New York, New York
FROM USATODAY.COM
Times Square, the tourist mecca dubbed the "crossroads of the world," may be more accurately nicknamed LBO Lane or Buyout Boulevard.
That's because private-equity firms, the new kings of Wall Street, have been buying up large slices of Corporate America the past few years. And Times Square, best known for its hyperkinetic 42nd Street and ball-dropping bash on New Year's Eve, is no exception.
Behind the Buyouts WebMaster
in News Coverage, USA Today
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ServiceMaster Shareholders, Coalition of Religious Leaders, Environmentalists, SEIU to Call on CD&R in Shareholders Meeting to Make TruGreen 'Truly Green'
Citing the public health and environmental dangers of lawn care pesticides used by TruGreen ChemLawn and its parent company ServiceMaster, a powerful coalition of religious leaders from around the nation, regional and national environmental groups, as well as workers will hold a prayer vigil outside the June 28th Shareholder meeting being held in Chicago.
Following the vigil, a delegation of religious leaders will attend the shareholders meeting in order to meet with representatives of ServiceMaster (NYSE: SVM) new owners, private equity giant Clayton, Dubilier & Rice. Religious leaders will ask CD&R to immediately take steps to safeguard the nations' children and pets by directing ServiceMaster to curb its pesticide use and "Be Truly Green."
Anthony S Jennings
in News Coverage, ServiceMaster, CD&R
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Private equity and unions
video from CNBC
Anthony S Jennings
in News Coverage, CNBC
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US union warns of private equity damage
from the Guardian (UK)
by Philip Inman
Private equity firms are reshaping the American economy to the detriment of workers and local communities, one of the largest trade unions in the US said today after publishing a report into the industry's growing influence.
The almost 2 million-strong Service Employees International Union said the booming private equity buyout industry had turned back the clock on community involvement and workers rights. In a dossier documenting deals in the US over recent years, the union highlighted buyout deals that it argued left companies "hollowed out" or even bankrupt. Others saw gains that were paid exclusively to the new private equity owners.
Andrew McDonald
in News Coverage, The Guardian
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SEIU says workers need say in buyouts
from Pensions & Investments
Workers and community stakeholders should have a say in buyout deals and benefit from their outcome, according to a report released today by the Service Employees International Union, Washington.
Behind the Buyouts WebMaster
in News Coverage, Pensions and Investments
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Major U.S. union issues private equity warning
from Reuters UK
by Michael Flaherty
A large U.S. union issued a report on Tuesday warning workers about the loss of jobs from private equity deals, and calling on the buyout industry to be more open.
The report by the 1.8 million-member Service Employees International Union (SEIU) aims to call attention to the massive wave of corporate buyouts by private equity firms.
The pace of U.S. deals and the great profits accumulated by private equity executives has sparked concern among unions that buyout firms are gaining profits at the expense of workers.
Anthony S Jennings
in News Coverage, Reuters
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Private Equity's Bottom Line for Workers
Sam Zell and Andy Stern each have an idea for making sure that when companies are taken private, employees get some of the benefits if things go well.
Zell's idea is to use about $8 billion of borrowed money to buy Tribune Co., a badly run media company in a declining industry, which he would then recapitalize and restructure into an employee stock-ownership plan. When his financial alchemy is completed, employees will control 60 percent of the stock in the new, privately held Tribune, while Zell will control 40 percent.
Andrew McDonald
in News Coverage, Washington Post
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