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.

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