Private Equity Stakeholder Project

The Private Equity Stakeholder Project supports workers, communities and other stakeholders impacted by private equity and private funds investments

[Private Equity Stakeholder Project @PEstakeholder]

PESP believes that the need for accountability and transparency in the private equity industry is more important than ever, and transcends electoral politics. Our full statement on the 2024 election: https://t.co/Xz171zSyKj

[Richard Christopher Whalen @rcwhalen]

The Fed’s rate hike is expected to wreak havoc on private-equity funds already struggling to sell companies and return cash to investors https://t.co/pvONb4DG2A via @WSJ | And the Fed will not ride to the rescue. Deficit makes this impossible.

[Dr. Glaucomflecken @DGlaucomflecken]

This is the federal version of legislation we have in Oregon. The law was tested earlier this year, when Peace Health attempted to replace their local, independent EM group with ApolloMD, a national corporate management group based in Atlanta. The EM group sued and won. The law works.

This is a way to protect independent physicians and preserve physician autonomy. Is the law perfect? No. One of the criticisms I keep seeing is that it doesn’t address non-profit hospital direct ownership of physicians, and that is true.

The Oregon law originally included hospitals, but the American Hospital Association lobby went nuclear and received an exemption for non-profit hospitals, much to everybody’s dismay.

One thing that is unique to the Oregon law and, now, this federal legislation is that it targets the MSO-PC model that so many hospital systems use to supplant independent physician practices. This is not just about private equity. This legislation is fighting a practice model that gives non-physician, corporate influence over clinical decision making.

We have dozens, if not hundreds, of examples of hospitals canceling contracts with high functioning, local, independent physician practices, and handing those contracts to these national corporate groups, who then staff hospital departments with temporary physician, NPs, and PAs with no institutional knowledge and no investment in the community.

Even though this legislation may not apply to hospitals directly employing physicians, it does give independent physician practices more leverage with the hospitals they serve. This bill also gets rid of non disparagement agreements and non competes.

If passed, this would be a huge win for independent physicians and communities who get to keep their local doctors.

[Private Equity Stakeholder Project @PEstakeholder]

😷 In the U.S., air pollution from PE-backed extraction, coal plants, and LNG infrastructure is linked to an estimated 584,000 instances of asthma symptoms and at least 1,000 premature deaths each year. Learn more: https://t.co/wqnWCvAAgP

[Private Equity Stakeholder Project @PEstakeholder]

NEW: The Workers + Jobs team at PESP have released a report digging into labor issues at the world's largest carrot grower, private equity-owned Grimmway Farms. In the years since its acquisition by Teays River Investments, Grimmway has faced lawsuits and fines for its treatment of workers, including over $145,342 in OSHA fines. https://t.co/Gf881c2WEu

[New York Communities for Change @nychange]

📸 Weekly canvassing in Sunset Park, Brooklyn to urge Hochul to stop the proposed Gowanus fracked gas power plant.

If private equity gets its way, we get higher utility bills & more air pollution.

We were joined by @marcelaforny & @CMAlexaAviles, thank you! 441 ⬇️

[Private Equity Stakeholder Project @PEstakeholder]

The Hormuz crisis is a real-time example of the geopolitical risks tied to fossil fuel investments.

Our new Private Equity Climate Risks Scorecard examines how PE firms are exposing their investors to these risks across their global energy portfolios.

https://t.co/xzyEBzex04

[FT Energy @ftenergy]

Hormuz crisis threatens to undermine long-term LNG demand https://t.co/c7nIcPhPOK

[Private Equity Stakeholder Project @PEstakeholder]

Private equity firms and other corporate investors should not get to decide how doctors practice medicine. -Michael Fenne, Senior Policy Coordinator at PESP.

https://t.co/ejqdXebvcA

[More Perfect Union @MorePerfectUS]

HUGE: Elizabeth Warren, AOC, and other members of Congress have introduced a bill to push private equity out of healthcare.

The Stop Corporate Takeovers of Physicians Act would make it illegal for private equity, insurance companies, and other for-profit corporations to own or control medical practices.

It would also close state-level loopholes that private equity firms have snuck through, prohibit corporate interference with clinical decisions, and more.

[More Perfect Union @MorePerfectUS]

HUGE: Elizabeth Warren, AOC, and other members of Congress have introduced a bill to push private equity out of healthcare.

The Stop Corporate Takeovers of Physicians Act would make it illegal for private equity, insurance companies, and other for-profit corporations to own or control medical practices.

It would also close state-level loopholes that private equity firms have snuck through, prohibit corporate interference with clinical decisions, and more.

[More Perfect Union @MorePerfectUS]

BREAKING: The House of Representatives has voted to hold billionaire and former Apollo Global Management CEO Leon Black in contempt of Congress for refusing to comply with subpoenas issued by a committee investigating convicted sex offender Jeffrey Epstein.

[Global Alliance for a Sustainable Planet @gaspworld]

Top 20 private equity firms' energy portfolios emit 1.5bn tons #GHGs/year->any country except China, US, India, Russia.
Firms manage $7.3tn in assets; own 15,000 miles of pipelines & 124GW fossil fuel capacity. Report: @PEstakeholder.
https://t.co/XHY51cubNq

[Private Equity Stakeholder Project @PEstakeholder]

Global emissions are up and private equity is one of the culprits. 20 private equity firms are responsible for producing an estimated 1.5 gigatons of CO2 emissions annually. Check out the Private Equity Climate Risks scorecard with the full report here: https://t.co/wqnWCvAAgP

[Private Equity Stakeholder Project @PEstakeholder]

At a time when 20 private equity firms emit more CO2 emissions than all countries but China, India, Russia, and the U.S.

1.5 gigatons annually to be exact.

https://t.co/GMNfHkvyJq

[The New York Times @nytimes]

Breaking News: The E.P.A. is said to be planning to announce that the U.S. will no longer limit climate pollution from power plants. https://t.co/AAvQwDUyIw

[Private Equity Stakeholder Project @PEstakeholder]

Private equity firm Stonepeak being forced to sell its airline that provides ICE deportation flights in order to buy Chicago parking meter operator

[Heather Cherone @HeatherCherone]

BREAKING: A deal has been reached that will allow Chicago’s parking meters to be sold to an investment firm, which has agreed to sell an airline that has been carrying out deportations for the Trump administration, 5 alderpeople announced. @wttw https://t.co/hEuqEdjfIc

[Private Equity Stakeholder Project @PEstakeholder]

NEW: Just 20 private equity firms’ energy portfolios produce an estimated 1.5 gigatons of greenhouse gas emissions annually. Compared with countries’ fossil fuel emissions, that would rank 5th globally, behind only China, the U.S., India, and Russia. https://t.co/kBeFRg7L19

[Private Equity Stakeholder Project @PEstakeholder]

The saga continues for these former private equity owned hospitals

[Lisa Schencker @lschencker]

Judge plans to appoint receiver to take control of West Suburban and Weiss hospitals https://t.co/cYdGFCj3s1

[Private Equity Stakeholder Project @PEstakeholder]

PE firm EIG owns a stake in the Aramco pipelines including the east-west crude pipeline.

Private equity firms have spent years acquiring pipelines, terminals, tankers, and other fossil fuel infrastructure assets across the Middle East and other geopolitically sensitive regions.

As conflicts disrupt major energy chokepoints, those risks are no longer theoretical.

[Francesco Sassi @Frank_Stones]

Smoke is rising from the East-West pipeline, the main oil pipeline available to Saudi Arabia to avoid the Strait of Hormuz.

The Houthis are stepping up a massive offensive against Ryihad.

We are really close to a major oil price spike and global energy shockwave.💥🇸🇦🇾🇪🇮🇷🧵

[Private Equity Stakeholder Project @PEstakeholder]

In Washington state, Canadian private equity firm Instar is facing criticism for its treatment of immigrant workers at Windmill Farms and its operation of ICE deportation flights. https://t.co/XX6OR0QVrI

[Heather Timmons @HeathaT]

Private equity funds are sitting on a “record number of unsold companies, many of which they’ve been unable to sell … or at least unable to sell at the prices that they’re looking for” says @PEstakeholder's Jim Baker

[Private Equity Stakeholder Project @PEstakeholder]

Given the private equity industry's controversial interest in utilities and its track record of putting quick profits above all else, the Michigan Public Service Commission should reject the proposed sale of 13 hydroelectric dams to an out-of-state PE firm. https://t.co/eZwGQtaSyP

[Ben Inskeep @Ben_Inskeep]

UPDATE🚨: We @cacindiana submitted testimony with shocking findings:

NIPSCO has been DOUBLE-CHARGING >4,000 gas customers for usage, potentially for DECADES.

NIPSCO concealed this problem for >1 year from customers after discovering it.

NIPSCO is refusing full refunds! 🧵