Entries in Press Releases (14)
Workers, Activists Deliver Petition to Lazard Boss Bruce Wasserstein, Demanding Atria Improve Treatment of Its Workers on International Workers Rights Day
Underpaid workers from local Atria Senior Living facilities protested today outside the home of Bruce Wasserstein, CEO of Lazard, Ltd. One hundred and fifty workers signed and delivered a petition, demanding better pay and treatment at the hundreds of Atria facilities around the country. Workers also condemned Wasserstein for taking a $100+ million payday last year while knowing about poor conditions at some Atria facilities and poverty wages for the company’s employees.
Anthony S Jennings
in Press Releases
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Times Square Buyout Boom Highlights Private Equity Role in Growing U.S. Income Inequality
In Times Square the buyout industry is, literally, everywhere you turn. A new report by one of the nation’s largest unions, SEIU, shows a staggering concentration of private equity-owned companies at the “Crossroads of the World,” highlighting the increasing influence of the buyout industry and its role in the nation’s growing income inequality. The report, and an original, interactive map of the Times Square buyout boom is available at www.BehindtheBuyouts.org.
“Times Square isn’t all glitz and glamour. It’s filled with people making $8 an hour, without health care, working for the some of the wealthiest companies in the world,” said Stephen Lerner, Director of the SEIU (Service Employees International Union) Private Equity Project. “In Times Square and across the country, the wealthy buyout industry is an engine of economic inequality at a time when it’s harder and harder for working people to get ahead.”
Andrew McDonald
in Press Releases
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With billions at stake in Sallie Mae Buyout, SEIU, Students to Push J.C. Flowers, Big Banks to Support Student Loan Rate Cut
Coming just as Congress passed a new bill to cut nearly $19 billion from lender subsidies to pay for increased aid to college students, a new campaign will kick off Monday to bring the voices and stories of middle class and low-income families hard hit by soaring education costs and high interest rates to Congress and the private equity suitors of Sallie Mae (NYSE: SLM), J.C. Flowers, Bank of America, and J.P. Morgan Chase.
Renee Asher
in Press Releases, Sallie Mae, JP Morgan Chase, Bank of America, JC Flowers
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Concerns Growing over Private Equity Buyouts’ Impact on Students, Workers, the Environment
With debate growing in Washington and around the country about the impact of the private equity buyout industry on America, a new series of activities this summer led by one of the nation’s largest unions and community organizations will highlight the emerging concerns about buyouts on working Americans, communities, and the environment. For more info visit www.BehindtheBuyouts.org.
The slate of activities were announced in New York today by SEIU and the Working Families Party as buyout industry and Wall Street leaders gathered at the Wall Street Journal’s Deals & Dealmakers Conference at the New York Stock Exchange.
Andrew McDonald
in Press Releases, Bain Capital, Sallie Mae, ServiceMaster
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Alltel Execs Hit $2 Billion Buyout Jackpot with TPG Buyout; Stockholders Sue Over Conflict of Interest
TPG and GS Capital Partners’ $26.3 billion [1] buyout of Alltel (NYSE:AT), the fifth largest mobile phone operator, [2] raises serious red flags for investors concerned that company insiders, who stand to make nearly $2 billion from the deal, [3] did not act in the best interest of shareholders when they agreed to sell the company. To track the deal go to http://alltelrevealed.blogspot.com.
Renee Asher
in Press Releases, Alltel
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Tele-com Giant Providence Equity Partners $1.5B Buyout of USIS Raises Privacy Issues
With the purchase of USIS, Providence Equity Partners, who already control television, telephone, and Internet service provider companies, will gain access to personal government-issued information about millions of Americans. To track the deal, go to http://usisrevealed.blogspot.com.
USIS, which began as an employee-owned company, but is now the privatized arm of the Office of Personnel Management's Office of Federal Investigations, employs a web of independent contractors, many of whom work at home and are paid substandard wages and benefits, to provide background screening for government and private clients.
Renee Asher
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Private Equity Buyout Industry Must Change To Work Better For Working People Says SEIU President Andy Stern
The private equity industry should make changes to work better for working people, says Andy Stern, President of the 1.8 million-member SEIU (Service Employees International Union) in testimony today at a hearing on “Private Equity’s Impact on Workers and Companies” in the U.S. House of Representatives Committee on Financial Services.
“But if private equity firms will not take steps to change, Mr. Chairman, Congress should legislate,” says Stern in his testimony.
Andrew McDonald
in Press Releases
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