Yesterday, I took part in a radio debate on private equity following the news that Ford may be selling Jaguar and Land Rover to private equity firms.
The evidence is mounting against Private Equity firms, from the GMB's excellent report at the beginning of the month, to the Work Foundation's report earlier in the year which described private equity as "one of 21st century capitalism's most virulent new forms". There is clear trend when private equity management teams take over there are job cuts averaging 20%, pay rates go down, and as the GMB report showed often leads to companies being debt laden and pension funds going insolvent.
I've seen this first hand with the Gate Gourmet dispute, and earlier this year with NCP workers in Enfield. It is low paid workers who suffer so that obscene profits can be made by these private equity giants. I tabled EDM 1675 to highlight concerns about this potential sale of Jaguar and Land Rover and calling on the Government to intervene so that these workers do not suffer the same fate.
I also spoke today in an adjournment debate on Remploy factory closures, and am a sponsor of Linda Riordan's EDM 1583 opposing the closures. I called on the Minister to bring together the management and unions - who have done excellent work in proposing an alternative strategy, and of keeping MPs informed of their struggle to keep workplaces open for a very vulnerable group of workers.
I offer my solidarity to these campaigns.
10 Comments:
A couple of very worthy causes John.
As you have pointed out we are well aware what private equity company's are about and it is not the long term protection of jobs. Asset stripping is the name of their game and they will not give a toss as to the consequences.
I have emailed Gordon Marsden (my new MP) asking him to lend his support to your EDM.
On the Remploy issue they provide an exceptionally important service for perhaps the most vulnerable persons in our community. They provide meaningful employment and give these persons a worthwhile role where they can also contribute to the economy. It is very worrying the way things are evolving for this Company and attempts to reduce funding by Govt must be halted.
Lets hope a significant number of your Parliamentary colleagues have the conviction to support those workers affected by these cuts rather than a penny pinching Government when it comes before the Commons. It seems there is unlimited money available for the son of trident but when it comes to keeping disabled persons in work, the attitude is throw them on the scrapheap.
it was good on World at One yesterday I think it was when Marth Kearney pointed out that a cleaning lady now pays more tax than the priv equity firms!
Justify that Brown!
hi,
why does the government allow these leeches to do what they do? it would be interesting to see how many m.p's own shares in these companys! 'real' labour would never allow this!! it's time to kick 'new' labour into touch now Tory Blair is out and bring back the peoples labour party.
dsmith - we tried kicking new labour into touch but as they've privatised the ball, sold off the football ground, and given the police special powers to prevent anyone coming within 5 miles of the site of the intended kicking, it's proving difficult.
But there's a lot of us breaking through the police cordon, trespassing on the former-playing field-now-turned-luxury-housing-development-site having brought our own ball with which to do said kicking!
Heh good post mike.
let's put a few windows out with our ball while we're at it!
JC
Great work again John. It's great to know that there is member of parliament who actually cares about people and not boosting fat-cat profits. New Labour doesn't represent ordinary people, it represents global capital.
lets hope the Andrew Marr prog tonight reminds people how bad the Tories and then New Labour actually were/are...
I've heard Bliar is going to remain as a backbencher for the time being - but I just can't imagine him knuckling down and doing his constituency work properly after his jetsetting lifesttyle as PM! As well as being "glorified social workers", an unfortunate phrase I heard on the radio as they were saying that Blair wouldn't want to retun to be one, MPs have to give out prizes, open new buildings, attend funerals (especially if something awful such as atrain crash affects their constituency) and many other things in their role as local representative and often give up most of thier weekend to these sort of things as well as the enormous casework load that they have to juggle with Parliamentary business during the week - after being PM and international traveller/confernence attender etc for so long will TOny be able to take the pace without so many aides etc!!!
But I hope he has a go again at least for a while as he mind find himself back in the real world that his consciousness has lost while in Downing Street. However he must not be selective in what casework he actually takes on as the Tories are. I once went to a New Labour run regional training day for Parliamentary candidates and they seem to be saying it was ok for candidates not to follow up all the casework they pick up while canvassing etc so they could spend more time on canvassing I suppose but I thought this was disgraceful. Yes it does takes time to follow up people's problems with housing/flytipping or whatever but if you can't be bothered to do the work they need the people shouldn't elect you and you don't deserve to represent them. we need a PM who lives in the real world on this.
Also I believe the "levygate" enquiries are still going on so it could all still crumble for Gordon Brown...but I'm a bit worried as yet another article glamourising Cameron was in Glamour magazine this month probably hoping to catch the "high heel" vote as my joiunalist cousin would call it. The trouble is many young people are too young to remember the recent Tory government and believe the Tories, even on the NHS etc! as they know the government was wrong to go to war in Iraq. We on the left are tackling this with lots of initiatives involving younger people but I think more needs to be done though I'd rather not spend any time fighting the Tories if I can help it; I'd rather email to help persecuted trade unionist in Columbia and get New Labour to botcott the regime while it remians so bad nad lots of other things; or to have been at the Cuba Solidarity Campaign event tonight....hope it didn;t get thundered on!
Newsnight says Brown is going to appoint "talented" non-Labour people to the House of Lords and then make them junior ministers.
Totally unacceptable.
I've suggested a course of action for the left on my blog.
Buy Kamagra
Earn Google
M65 Jacket
Viagra Cialis
Cheap Kamagra
Cheap Viagra
Cheap Cialis
Make Money on Google
M65 Field Jacket
Airline Dog Carrier
Airline Dog Carriers
Viagra Cialis
Earn Google
Airline Dog Carrier
Airline Dog Carriers
Airline Approved Dog Carriers
ED Hardy Wholesale
Copy DVD Software
How to Send Fax
14k Yellow Gold
Redneck Costume
14k Gold Heart
Tandem Baby Stroller
0208sllrk The only word of Ashley is that he was in a Yankee prison for the last year of ugg classic cardy boots the war and a letter to Melanie telling her that he is on his way. One day, ugg Bailey Button he appears coming up the long road towards Tara. Melanie and Scarlett both rush to greet him, but Will stops Scarlett, ugg classic short boots saying, "Don't ruin the moment." ugg classic mini boots Scarlett reluctantly hangs back,ugg new arrival but is euphoric over Ashley's return.
Post a Comment
<< Home