December 09, 2022
CEPR Co-director Eileen Appelbaum is a recognized expert on how Private Equity has permeated all sectors of our economy. From hospitals to hospice care, from toy stores to life insurance policies, Eileen has shined a light on how PE has infiltrated almost every aspect of our lives.
There has been some good news on the PE front recently. The proposed merger between the grocery store chains Albertsons and Kroegers was paused after Eileen and others pointed out that Albertsons’ former PE owners were set to receive a $4 billion payout. Republican and Democratic State Attorneys General quickly moved to try to block the payout that would have enriched billionaires at the expense of workers. Congress is holding hearings on the implications of the proposed supermarket consolidation. While the merger may still go through, the public is now better informed about the often hidden shady deals behind the scenes, thanks to Eileen and the unions representing grocery workers.
But there is much more work to be done. CEPR Data and Policy Analyst Matt Sedlar is looking into PE’s involvement in the disaster recovery industry. That’s right, the companies that are brought in to clean up after a disaster are increasingly owned by PE. There have been many horror stories of workers being shipped off to disaster areas, paid low wages, and left to find their way home after the work was completed. PE has found a way to use federal disaster recovery funds to its advantage, and Matt’s work will uncover how these companies are literally pulling a profit from the ashes.
Your donation to CEPR will help us continue to speak out against the bad actors and hold powerful PE firms accountable because no one should be able to get rich off the backs of people who are losing their homes or livelihoods.
A special thanks to everyone who has already supported our Spotlight campaign. We are most grateful.
