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...

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...

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...

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...

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...

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...

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...