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Union Report Calls for Transparency in Buyouts

WASHINGTON — Raising concerns over “negative impacts” for workers and communities at businesses bought out by private equity concerns, the Service Employees International Union here released a report calling for more transparency and regulation for large private buyout firms and for workers and community stakeholders to have a voice in their deals. The report, which includes a critical look at five large private equity deals and a related website,, will “challenge the private equity buyout industry” to work together to create opportunities, the SEIU said, while becoming a clearinghouse for information on the buyout industry for workers and communities. “While we welcome an informed debate about the role of private equity in the global economy, we don’t think that isolating five transactions out of the more than 3,000 private equity acquisitions between 2004-2006 accurately reflects the private equity market,” Douglas Lowenstein, president of the Private Equity Council trade group, said in a statement.