SEIU Principles for the Private Equity Buyout Industry
1. The buyout industry should play by the same set of rules as everyone else.
- The industry should provide transparency and disclosure about their businesses, their deals, their income, their plans for the companies they buy and sell, and the risks of the debt they load onto portfolio companies
- The industry should invest in the health, security, and long-term prosperity of America by supporting equitable tax rates and the elimination of loopholes that increase the tax burden on working Americans
- The industry should work to build confidence in the securities markets by eliminating conflicts of interest and other potential abuses in their deals
2. Workers should have a voice in the deals and benefit from their outcome.
- Workers should have a seat at the table when deals are being made
- Private equity deals should create economic opportunities that align the long-term interests of everyone that builds the value of a company, from direct employees and contract workers to senior management
- Workers should have paychecks that can support a family
- Workers should have quality, affordable health care coverage
- Workers should have secure retirement benefits
- Workers should have a voice at work—meaning the freedom to join a union using majority sign-up without interference from any party
3. Community stakeholders should have a voice in the deals and benefit from their outcome.
- Buyout firms should play a proactive and constructive role in the communities affected by their deals
- Community stakeholders should be involved as deals are being made
- The private equity buyout industry and community stakeholders should use wealth generated by deals to improve the quality of life, the environment, the health, the safety, and the long-term stability of communities