Private Equity Firms, Our New Corporate Masters?

By: Thursday July 9, 2009 1:30 pm

Workers returned Tuesday to the job at Stella D’Oro Biscuit Co. in the Bronx after a judge ordered the company reinstate the 136 employees who had remained strong throughout a brutal 11-month strike. But before they could even walk through the doors, they were greeted with the anti-union response by the company’s private equity firm owners, the 21st century’s mutation of the robber barons: Brynwood Partners announced it would shut down operations in October.

 

Broken Dreams and Cookie Crumbs

By: Thursday May 28, 2009 1:35 pm

When Brynwood Partners in 2006 took over the Stella D’oro factory in the Bronx, the Wall Street private equity firm had every reason to believe it would be easy to slash the wages, pensions, holidays and sick pay of the 136 bakery workers.

But the takeover brainos forgot one important fact: The workers are represented by a union, Local 50 of the Bakery, Confectionery, Tobacco Workers and Grain Millers (BCTGM).

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