13 April 2010
Rover gives a warning on the future of Corus
Bosses and some politicans are telling Corus steel workers on Teesside that the only way to save jobs is to look towards a buy-out by a private equity consortium. The workers should remember what happened at Rover Longbridge in Birmingham after a similar takeover.
16 June 2009
Business secretary Lord Mandelson’s plans to hand a chunk of the Royal Mail to a private equity firm are set to receive a blow on Friday, as 10,000 postal workers in London prepare to strike.
03 March 2009
A spectre from the 1990s is returning to haunt the streets of Britain—negative equity and the threat of home repossession. Only this time things could be much worse. The new Lloyds Banking Group, formed from Lloyds TSB’s rescue of HBOS last year, has said that over 543,000 customers owed more on their mortgages than the value of their homes.
04 November 2008
"There’s absolutely going to be a lot of pain to go around. The big question is how apocalyptic it will be."Josh Lerner, professor of investment banking at Harvard Business School on the credit squeeze facing private equity companies
21 October 2008
"Growth will be our mount, equity will be our companion, and social justice will be our destination."
23 September 2008
Alan Milburn, Health Secretary from 1998 to 2003
Alan Milburn is listed in his declaration of members’ interests at the House of Commons as a director of Covidien, which describes itself as "a $10bn global healthcare products leader". He is also a member of Lloydspharmacy’s Healthcare Advisory Panel. Milburn is an advisor to the European advisory panel of leading private equity firm Bridgepoint, which specialises in healthcare investments. Milburn declares his income from these senior appointments as over £30,000 a year from Bridgepoint; over £25,000 from Lloydspharmacy; nothing listed for Covidien; and a further over £20,000 as
29 April 2008
There is an institution that sacks trade unionists and allows its workers to stand for the fascist British National Party (BNP) in elections. It’s not a union-busting private equity company, but the government’s Department for Work and Pensions (DWP).