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JPMorgan Chase to Buy American Idol?

Mar 30, 2010 - Reuters is reporting that the private equity arm of JPMorgan Chase is in talks to purchase the company that owns American Idol. Since anything these Wall Street banks touch these days turns to ruin, we have serious concerns on behalf of Idol fans everywhere. We decided to help you prepare by coming up with a list of top ten likely changes we'll see if Chase goes forward with this deal... Read more...

Laid-off Security Officers Crown Ken Lewis: 'Turkey of the Year"

Nov 24, 2009 - Seeing as how the end of Lewis's profit-driven rein as CEO of BofA is finally in sight, SEIU 32BJ members have decided it's high time to recognize Mr. Lewis...with a "Turkey of the Year" Award. Bank of America security officers will deliver a frozen turkey to the ousted CEO for his role in allowing the bank's security contractor to fire some 40 security officers working at BofA buildings in NYC right before the holidays. Read more...

King of Beers Cutting Costs on the Backs of Workers

Nov 06, 2009 - Cleaners at Anheuser-Busch breweries in Newark and Rochester recently found themselves without jobs, despite years of loyal service to the "King of Beers." The brewing behemoth has brought in cleaning contractors who seem bent on cutting costs for the $23 billion dollar multinational on the backs of the working people who keep their plants running and profitable. Read more...

"Shame, Shame, Shame on You"

Oct 25, 2009 - It's Day 2 of the annual meet-up of the American Bankers Association, and nearly a thousand taxpayers decided to facilitate a little meet-and-greet between the people that created the financial crisis (and got rich from it), and the people who paid the price for Wall Street's greed--and footed the bill to bail the banks out. Unfortunately, the banksters letting loose in the Sheraton's lavish ballroom couldn't be convinced to leave their posh party to attend our rally....but 40+ policemen and numerous onlookers did turn out. Read more...

Crash the Bankers' Party in Chicago

Oct 23, 2009 - If you could get all the architects of the banks/bailout scam together in one place, what would you say to them? Hurry up and decide, because they're all getting together in Chicago this weekend-- and we're headed there to meet them. The big bank execs are gathering in the Windy City for the American Bankers Association conference, for a 4 day celebration of wealth and opulence paid for by our tax dollars. Read more...

'80s Flashback: Average Workers' Pay > Average Financial Industry Employee Bonus

Oct 23, 2009 - In 1985, the average annual salary for all workers across the country was several thousand dollars higher than the average bonus: $19,000 to $13,970. Over twenty-five years later, the average Wall Street bonus has soared almost 14 times higher. Yesterday the Federal Reserve announced a plan to help lessen this wage disparity between Main Street vs. Wall Street, cutting executive pay by as much as 90 percent for CEOs at the seven biggest TARP recipients. Read more...

Big Banks & U.S. Chamber, There's a New Cop in Town

Oct 23, 2009 - Yesterday the House voted 39 to 29 to move forward with the creation of the Consumer Financial Protection Agency, to help put a stop to the dangerous and deceptive products and practices that got us into this mess. It was a sad day for corporations in the financial, insurance, and real estate sector--like the U.S. Chamber of Commerce & the Financial Services Roundtable--who spent a combined total of $321 million lobbying against federal reforms such as limits on bonuses and the creation of the Consumer Financial Protection Agency (CFPA). Read more...

Stop the Ken Lewis Bailout

Oct 07, 2009 - Despite helping to drive us into one of the worst financial meltdowns in history, it's been revealed that Bank of America plans to send Ken Lewis out the door with a $53.3 million pension on top of the hundreds of millions he's already made during his failed tenure as CEO. The Obama administration has appointed a 'pay czar,' Kenneth Feinberg, to make sure our tax dollars aren't being used to pay outrageous earnings to bank CEOs. Will you tell the pay czar to stop payment on the Ken Lewis bailout? Read more...

Wall Street Reform Must Not Be Stalled or Stopped

Sep 15, 2009 - "When Lehman Brothers fell, they took not just the rest of Wall Street, but all of Main Street, down with them. Yet, one year later, the greedy CEOs who caused the collapse are unremorseful, unrepentant, and virtually unchanged," said SEIU Secretary-Treasurer Anna Burger, following President Obama's speech yesterday on the anniversary of the collapse of Lehman Brothers. While the economy continues to recover, President Obama warned, "normalcy cannot lead to complacency." Read more...

Financial Wolves: Private Equity and the Banks

Aug 04, 2009 - Private equity firms are some of the most secretive, unregulated financial firms - and they want to buy up failed banks with taxpayers' money while keeping most of the profits for themselves. SEIU President Andy Stern wrote about these firms' plans on the opinion pages of the Wall Street Journal this morning. Read more...

Rep. Keith Ellison, Consumer groups to join bank workers speaking out against predatory sales practices, failed banking model

Jun 30, 2009 - Today, Rep. Keith Ellison (D-MN), the National Association of Consumer Advocates (NACA) and the U.S. Public Interest Research Group (U.S. PIRG) will join Bank of America workers to speak out against predatory sales practices and a failed banking model and call for reforms that protect frontline bank workers and consumers. Read more...

White House Plan to Cleanup Wall Street, Stabilize Economy & Protect Consumers is Strong First Step

Jun 17, 2009 - Today, Anna Burger, Secretary-Treasurer of the Services Employees International Union (SEIU) and a member of the President's Economic Recovery Advisory Board, issued the following statement in response to the White House's fiscal reform plan: "The White House plan is a significant first step towards reforming and holding accountable a financial system whose irresponsible, risky practices have destabilized our economy and devastated millions of hard working families..." Read more...

Judge Sotomayor's Nomination to the Supreme Court an Extraordinary Choice for Today and Tomorrow

May 26, 2009 - President Obama said he would appoint people to our courts who not only had brilliant legal minds, but who also understand how the law impacts the everyday lives of working families. Today he has fulfilled that promise by nominating U.S. Court of Appeals Judge Sonia Sotomayor to serve on the U.S. Supreme Court. Read more...

Sounds and Silence: Workers Memorial Day

Apr 30, 2009 - Every April 28, the international labor movement stops to commemorate the lives and sacrifices of workers who never made it home, and to renew the struggle for safer and healthier workplaces. Read more...

Liveblogging Bank of America's Annual Shareholder Meeting

Apr 29, 2009 - We liveblogged Bank of America's annual shareholder meeting starting at 10am EST until the very end when the meeting adjourned after 2pm. Read commentary and analysis on the meeting in which Ken Lewis' fate at Bank of America will be decided by shareholders. Read more...

BofA Stressed Out?

Apr 28, 2009 - The official stress test results don't come out until next week, but if BofA fails, the government may have to pour tens of billions more into the bank. Ken Lewis' mismanagement of the bank already has taxpayers on the hook for up to $199.2 billion. Read more...

SEIU Master Trust Demands Investigation of Billions in Payouts for Executives in 29 of its Portfolio Companies

Apr 21, 2009 - In letters addressed to the Boards of Directors of 29 major companies in its investment portfolio, the SEIU Master Trust--a consortium of pension funds with approximately $1.3 billion in assets--demand that the companies' boards overhaul their executive compensation structure so top executives do not reap bonuses and other incentivized pay rewards regardless of the companies' performance. Read more...

Fire CEO Ken Lewis: Sign Your Taxpayer Proxy

Apr 15, 2009 - While Bank of America's CEO, Ken Lewis, is calling for business as usual, taxpayers are calling for change. It's time for Bank of America to stop the policies and practices that helped crash our economy and hurts its customers with unfair fees and hidden costs. Read more...

Public Outrage Over Bank of America's Self-Serving, Predatory and Dangerous Practices Heats Up

Apr 08, 2009 - In recent weeks, there's been a growing chorus of public outrage over the lavish bonuses paid to bank executives like Bank of America CEO Ken Lewis, whose self-serving profit schemes and risky financial deals led to today's economic collapse. Read more...

Bank Workers Worldwide Speak Out Against "Hard Sell" to Customers

Mar 30, 2009 - In a teleconference briefing today, UNI Finance Global Union gathered bank employees from the U.S., UK, Brazil, and Denmark for a "special insider media briefing" on short-term, profit-driven banking procedures that put customers and economies at risk. Read more...

A Reality Check for AIG

Mar 19, 2009 - We've just returned from our local AIG headquarters here in D.C., where around 130 people stood in the rain to take part in our Take Back the Economy day of action. Demonstrators held signs, sang songs, and presented AIG with a "reality check" worth billions of dollars from the American people. Read more...

Putting Our Money Where Their Mouths Are

Mar 19, 2009 - Rather than focusing on paying the American people back, America's biggest banks have, instead, used their resources to lobby against measures that would improve the lives of their new investors - us. Here's a quick look at a few of these groups. Read more...

No economist needed to see the flaws in Secretary Geithner's latest TALF proposal

Mar 17, 2009 - SEIU's Anna Burger issued a statement yesterday commenting on Treasury Secretary Geithner's latest TALF proposal to invite private equity and hedge fund investors to a fire sale of bank assets--a fundamentally flawed plan Burger says is no more than a "return to the very same policies and practices that triggered the financial crisis in the first place." Read more...

SEIU's National Worker Mobilization for Employee Free Choice

Mar 05, 2009 - On Monday, religious leaders, and community allies will join hundreds of workers for a 3 p.m. rally across from the Chamber of Commerce to tell corporate CEOs to stop standing in the way of an economy that works for everyone. Read more...

'King Size Combo:' New Report Reveals Broad Toll on Taxpayers by Bailed-Out Bank Goldman Sachs and Its Holdings in Burger King

Feb 17, 2009 - As Congress and the Obama administration look to hold major banks that have received billions in federal bailout funds better accountable for their corporate practices, a report released today by SEIU on Goldman Sachs and its holdings in Burger King finds that the true total of taxpayer subsidies some of the banks are enjoying extends well beyond the monies they've taken through the Troubled Assets Relief Program (TARP). Read more...

New Private Equity Principles Just a Fig Leaf; Failed Attempt to Mask 'Greediness' As Usual

Feb 10, 2009 - Today, in coordination with the UN Principles for Responsible Investment (PRI), the Private Equity Council released a new code of responsible corporate practices. Read more...

Andy Stern on Leadership: "Big Business, Big Failures"

Feb 09, 2009 - "Too many leaders tried to justify their own or companies behavior rather than admit that the system they promoted that had made them wealthy, while creating gross inequities, and economic calamities was flawed," wrote SEIU President Andy Stern last week on the Washington Post's "On Leadership" online forum. Read more...

Contrast on the Hill: Country Club CEOs vs. Hardworking People on the Employee Free Choice Act

Feb 04, 2009 - In the halls of Congress, CEOs having their "Executive Lobby Day" are spreading lies and misinformation in order to keep wages down and perpetuate inequality. How do we know this? Because we went into one of their presentations at a CA country club and captured video of how they talk about defeating the Employee Free Choice Act. Read more...

Union Leaders Around the Globe Call for Immediate Private Equity Reforms to Avoid Further Economic Crises

Feb 04, 2009 - "For our global economy to thrive and grow again, corporations, governments, and non-state actors -- like labor unions -- must work together towards a system where competition is based on the quality and sustainability of goods and services provided, not... Read more...

Buyout debt threatens another financial and jobs meltdown

Feb 03, 2009 - As the Private Equity Super Returns conference got underway in Berlin, Philip Jennings, general secretary of UNI Global Union, Andy Stern, president of the Service Employees International Union (SEIU), Jack Dromey, deputy general secretary of UNITE, and John Evans, general secretary of Trade Union Advisory Committee (TUAC) to the OECD, gathered to demand immediate reforms to private equity in order to help avoid further economic crisis. The labour leaders warn that economic disparity and unfettered corporate greed have proven toxic for the economy and must be reformed. Government leaders must take action. Read more...

Tellers Make Change: Go to Bank of America Today at Noon

Jan 29, 2009 - Today, we're asking you to go to a Bank of America location to talk directly with employees about what's happening with their company - and why their CEO should be fired. Read more...

SEIU's Andy Stern: "Less social dialogue and more social change"

Jan 28, 2009 - "Financial manipulation, greed and deregulation have led to economic havoc," writes SEIU President Andy Stern in a op-ed today on Reuters. Stern will join over 40 Heads of State and 1,600 of the world's most powerful CEOs at the World Economic Forum in Davos. Read more...

"Let's 'Share the Wealth'" - Wall Street Journal weekend interview with Andy Stern

Dec 08, 2008 - America's most powerful union boss says Europe offers a good economic model...Read the Wall Street Journal's December 6 weekend interview with SEIU President Andy Stern. Read more...

States Risk Repeat of Wall Street Bailout with Private Equity Infrastructure Deals

Oct 06, 2008 - Increasing investment in infrastructure projects is critical to America's economic recovery, but states that partner with private equity firms on deals risk a repeat of the Wall Street bailout, according to a draft of a policy discussion paper authored by one of the nation's largest labor unions. Read more...

SEIU's Andy Stern: Fed Changes to Rules Restricting Private Equity Stake in Banks 'Wrong Move at Wrong Time for Our Economy'

Sep 23, 2008 - Andy Stern, International President of the 2-million member Service Employees International Union (SEIU)--the fastest-growing labor union in the Americas--issued the following statement today regarding rule changes by the Federal Reserve that make it easier for private equity firms to invest in the nation's retail banks: Read more...

AMERICA FOR SALE?

Jul 23, 2008 - Potential national security concerns are being raised over the growing links between foreign governments and secretive private equity buyout firms in a major new public awareness campaign being launched today. The campaign, sponsored by one of the nation's largest unions, SEIU (Service Employees International Union), calls for stronger federal oversight of arrangements where foreign government-controlled investment funds, known as "sovereign wealth funds (SWFs),"buy into private firms that own or invest in American companies responsible for defense, energy, and homeland security. Read more...

House Stands Up For Working People, Deals Blow to Buyout Industry

Jun 25, 2008 - In a rebuke to corporate buyout CEOs and their army of Washington lobbyists, the House of Representatives voted today to close a tax loophole that allows billionaire private equity managers to pay a lower tax rate than many middle-class Americans such as nurses or firefighters. Read more...

Workers Criticize Anti-Worker Policies and Poor Performance to LA Retirement Fund

Jun 17, 2008 - Worker and retiree advocates testified today about the structure and underperformance of the Lazard Mid-Cap fund, with $11 million in city money, and about the anti-worker policies at Lazard affiliated companies at a meeting of the Los Angeles Board of Deferred Compensation Administration. Read more...

CARLYLE GROUP BUYOUT OF BOOZ-ALLEN WOULD ADD BILLIONS IN SENSITIVE U.S. CONTRACTS TO PORTFOLIO PARTIALLY OWNED BY ABU DHABI GOVERNMENT

May 16, 2008 - Today's announcement that global buyout firm Carlyle Group will pay $2.54 billion for Booz Allen's government consulting arm demands immediate congressional attention to examine any national security implications and to clarify present and future control issues before the deal receives regulatory approval. Read more...

Advocates Call for Congress to Stand Up to Profit-Hungry Nursing Homes and Protect Seniors

May 15, 2008 - The nation's largest healthcare workers' union testified before Chairman Stupak's (D-MI-1) House Energy & Commerce Oversight Subcommittee today, calling for Congress to stand up to the powerful and profit-hungry nursing home industry and pass legislation that would improve the quality of care by ensuring that residents and taxpayers know who owns nursing homes, who is responsible for care at them, and how taxpayer funds are being used. Read more...

NEW SEIU REPORT ON SOVEREIGN WEALTH FUNDS AND PRIVATE EQUITY CALLS FOR MORE TRANSPARENCY OF SWF INVESTMENTS IN U.S. BUYOUT FUNDS

Apr 23, 2008 - Access, Decreased Transparency, a new report released today by the 1.9 million member Service Employees International Union (SEIU) to coincide with tomorrow's (April 24) U.S. Senate Committee on Banking, Housing and Urban Affairs Hearing on sovereign investments, calls on Congress to equip itself and the public with the tools necessary to make informed decisions about sovereign wealth fund (SWF) investment in United States private equity firms. Read more...

Workers, Residents' Family Members Confront Lazard Execs Over Concerns at Atria Senior Living

Mar 05, 2008 - Workers and family members of elderly residents at Atria Senior Living centers confronted private equity owner Lazard's executives outside their annual meeting of buyout fund investors today, demanding better care and wages at hundreds of facilities across the country. Read more...

SEIU Statement on the World Economic Forum Study on the Economic Impact of Private Equity

Jan 25, 2008 - Statement by Stephen Lerner, Director of SEIU's Private Equity Project, regarding the World Economic Forum Study on the economic impact of private equity: Read more...

Carlyle Group Sewer Sludge Business May Increase Health Risks to Communities

Dec 17, 2007 - People who live near the operations of a Carlyle Group sewer sludge business could be at an increased health risk if Carlyle does not provide information to those communities about toxins and other hazards associated with its business. Read more...

Carlyle Group Embrace of Abu Dhabi Undermining Respect for Human Rights

Dec 10, 2007 - As nations around world recognize human rights day today, the big money partnership of the Government of Abu Dhabi and global buyout firm the Carlyle Group is undermining respect for human rights Read more...

SEIU President Andy Stern Calls On States and Pension Funds to Ensure Investments Support Respect for Human Rights

Nov 30, 2007 - In remarks today at the Asia Society of Southern California, SEIU President Andy Stern raised concerns about Abu Dhabi's recent $1.35 billion investment in the Carlyle Group, saying sovereign wealth investment deals should not serve to underwrite human rights violators or anti-worker business practices, but instead work "to open markets and minds." Read more...

Congressional Leaders Schedule Hearings on Quality of Nursing Home Care

Nov 14, 2007 - The nation's largest healthcare workers' union applauded Congressional leaders for scheduling hearings on growing problems with nursing homes. Chairman Pete Stark's (D-CA-13) House Ways and Means Health Subcommittee will examine the effects of nursing home ownership on the quality of care, especially in light of Carlyle Group's takeover of Manor Care. Read more...

Congressional Leaders Schedule Hearings on Quality of Nursing Home Care

Nov 08, 2007 - The nation's largest healthcare workers' union applauded Congressional leaders for scheduling hearings on growing problems with nursing homes. Chairman Pete Stark's (D-CA-13) House Ways and Means Health Subcommittee will examine the effects of nursing home ownership on the quality of care, especially in light of Carlyle Group's takeover of Manor Care. Read more...

Hearings on Private Equity Ownership of Nursing Homes Open New Front for Embattled Buyout Industry

Oct 23, 2007 - The nation's largest healthcare workers union applauded U.S. Reps. John Dingell and Barney Frank today as they announced the first Congressional hearings on private equity ownership of nursing homes. The announcement today by the Chairmen of the House Energy & Commerce Committee and the House Financial Services Committee is the latest move by Congressional leaders this month to hold private equity firms accountable for the care, staffing, and conditions at nursing homes they own. Read more...

SEIU Applauds Bipartisan Leadership of Sen. Finance Committee in Push for Greater Oversight of Private Equity Takeovers of Nursing Homes

Oct 18, 2007 - The nation's largest healthcare workers union applauded the bipartisan leadership of the Senate Finance Committee today as it took new steps to hold private equity firms accountable for the care, staffing, and conditions at nursing homes they own. Read more...

Hundreds of Nursing Home Workers From Across the Nation Rally for Improved Nursing Home Care

Oct 17, 2007 - Two members of the group went inside the shareholders meeting as proxies-SEIU District 1199 President Dave Regan and Carol Lafferty, a nursing aide at a Manor Care facility in Beckley, West Virginia. Regan addressed Manor Care management and shareholders, calling on them to make specific commitments to work with the Carlyle Group to improve care and ensure safe staffing as part of the deal. Read more...

MEDIA ADVISORY: Nursing Home Workers From Across the Nation to Rally in for Improved Nursing Home Care

Oct 17, 2007 - Nursing home workers and their supporters from across the nation are traveling to Toledo, Ohio Wednesday Oct. 17 to rally for improved care at the nation's largest nursing home chain as the shareholders of HCR Manor Care vote to approve a $6.3 billion buyout of the company by global buyout giant, The Carlyle Group. Read more...

How Much Taxpayer Money Has The Carlyle Group Taken from the U.S. Treasury?

Oct 10, 2007 - Just how much taxpayer money has the Carlyle Group taken from the U.S. Treasury? The answer is a mystery, but there is no question that buyout giant the Carlyle Group employs sophisticated financial strategies to turn taxpayer dollars into executive profits and avoid paying its fair share of taxes. Read more...

SEIU Launches Multi-State Grassroots Campaign Calling on the Carlyle Group To Put Care Above Profits in Buyout of Nation's Largest Nursing Home Chain

Oct 03, 2007 - In an effort to improve care at nursing homes, the nation's largest healthcare workers union today is launching a multi-state grassroots campaign calling on global buyout giant the Carlyle Group to put care above CEO profits in the $6.3 billion takeover of nursing home chain HCR Manor Care. Read more...

Nation's Largest Healthcare Workers Union Calls for Congressional Hearings into Private Equity Ownership of Nursing Homes

Oct 02, 2007 - Concerned that the trend toward private equity ownership of nursing homes is diverting taxpayer money to enriching top executives and buyout firms at the expense of quality care, the nation's largest healthcare workers union is calling on Congress to take action to improve the quality of care, and hold private equity firms accountable for their ownership of nursing homes. Read more...

New York Times Exposes Harm to Seniors after Private Equity Buyouts of Nursing Homes

Sep 24, 2007 - A stunning front page expose by the New York Times Sunday details how cuts to staffing and operations at nursing homes bought by private equity firms across the country have enriched top executives and buyout firms but left residents worse off. Read more...

SEIU

Service Employees International Union
Change to Win Federation USA
Canadian Labour Congress
1800 Massachusetts Avenue NW
Washington, DC 20036
© SEIU | Privacy Policy

SEIU

Service Employees International Union
Change to Win Federation USA | Canadian Labour Congress
1800 Massachusetts Avenue NW, Washington, DC 20036
© SEIU | Privacy Policy