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Friday, November 20, 
10:38 pm

SEIU protests at KKR headquarters

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The Service Employees International Union is taking it to the streets once again. After months of targeting the Carlyle Group, the SEIU is expanding its list of targets to include other buyout shops. The next firm on their list: Kohlberg Kravis Roberts & Co.

As part of its campaign to get a tax hike imposed on the private equity industry, the SEIU is demonstrating outside KKR's New York headquarters Thursday and hopes to organize 100 protests in 25 countries where the firm has portfolio companies. Rhetoric between the private equity industry and its SEIU detractors has been heating up with each sides trading accusations about jobs, profits and taxes.

The SEIU has attacked LBO firms with charges of job cutting, making outsized profits and using tax loop holes. Private equity firms and others have responded that the industry creates jobs, makes portfolio companies more competitive and that the profits margins ultimately are delivered to the pension funds that make up the industry's limited partner base. - George White


See WSJ editorial on SEIU
See Dealscape post on SEIU protests
See Dealscape post on SEIU protests at Carlyle
See Dealscape: Meet Henry Kravis' cartoon alter ego






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