Greenman's Occasional Organ

Ecosocialist. Syndicalist. Critical Techno-Progressive.

Sunday, June 10, 2007

A Workers' Guide To Private Equity Buyouts

Private equity buyouts and their implications are a hot topic in TU circles at the moment - the IUF (The International Union of Food, Agricultural, Hotel, Restaurant,Catering, Tobacco and Allied Workers' Associations) based in Geneva, have published an interesting guide to the issue which can be read and downloaded by clicking the link on this IUF page.

The IUF first drew the attention of the international trade union movement to the growing scale of private equity buyouts in the context of the "financialization" of corporate investment to deliver maximum short term financial returns to shareowners. The secretariat has briefed UK and European parliamentarians on the threat of private equity, established a unique website on private equity in the IUF and other sectors and assisted affiliates in responding to private equity buyouts.

Last week the GMB union accused the private equity industry of raiding workers’ pensions and dumping liabilities into insolvent pension funds

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At 1:04 pm, Anonymous ilanit said...

Los Angeles private equity and hedge fund borrowing are the main things propping up the stock market these days. That won't last forever, but for now it's hiding the real economic damage that is being done.The tax issue is valid, and something most people can understand, but the real tragedy of the current situation is much more complex.


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