Bonus babies | Arkansas Blog

Monday, June 18, 2007

Bonus babies

Posted By on Mon, Jun 18, 2007 at 2:46 PM

The Service Employees International Union, which has become a strong voice in the immense gulf between wages at the bottom and top of corporate ladders, has now turned its attention to Alltel and the $2  billion jackpot the union says company insiders will hit if the $26 billion private buyout deal of the company is completed.

The SEIU has put up a website on the deal here.

Says an SEIU news release:

At issue is the basic conflict between managers and directors of public companies who owe a fiduciary duty to maximize returns to shareholders during private equity buyouts, but who frequently stand to personally gain millions from the deal. More than one commentator has suggested this inherent conflict should be regulated by prohibiting management participation in buyouts. In addition, the big private equity firms are now the largest customers and generators of fees to the global investment banks and commercial banks for their stock and bond underwriting, bank lending and investment banking advisory services. These multifaceted relationships with firms such as Goldman Sachs, Merrill Lynch, and JPMorgan Chase led Robert Kindler, vice chairman for investment banking at Morgan Stanley, to say at a recent panel at the Corporate Law Institute at Tulane University, “We are all totally conflicted—get used to it.”

Alltel is the subject today, in other words, but it's happening all over.


Sign up for the Daily Update email
Favorite

Comments

Subscribe to this thread:

Add a comment

More by Max Brantley

Readers also liked…

  • Speaking of the Clinton Foundation: Returns in maize and beans

    A reporter for Politifact, the Pulitzer Prize-winning fact-checking organization, sent a reporter to Africa to see where money given to the Clinton Foundation has been put to work. He found tangible results.
    • Sep 6, 2016
  • Women's March planned in Arkansas to mark Trump inauguration

    Speaking of Donald Trump and in answer to a reader's question: There will be a women's march in Arkansas on Jan. 21, the day after inauguration, as well as the national march planned in Washington.
    • Dec 30, 2016
  • Your daily dose of Jason Rapert

    Sen. Jason Rapert really, really didn't like it when a KATV reporter asked him about the hypocrisy of his political arguments.
    • Feb 4, 2017

Most Viewed

Most Recent Comments

  • Re: Jan Morgan and Rep. Dan Sullivan slapped with ethics complaint

    • I haven't seen a lot of personal or career information about candidate Jan Morgan either…

    • on April 22, 2018
  • Re: Earth Day open line

    • Netanyahu blasts fake news on police interrogation in corruption case The Israeli prime minister slams…

    • on April 22, 2018
  • Re: Earth Day open line

    • Natalie Portman says to skip Israeli ceremony due to Netanyahu speech. Let me speak for…

    • on April 22, 2018
 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation