America For Sale?
This week, SEIU began running radio and print advertisements in six states as part of an ongoing public awareness campaign highlighting the national security concerns raised by the growing links between foreign governments and private equity buyout firms. The ads – running in Virginia, Wisconsin, Alabama, Ohio, Michigan and Indiana – point out how foreign government-controlled investment funds, known as “sovereign wealth funds” (SWFs), are partnering with private equity funds to make huge investments in American companies that are responsible for important aspects of our national defense, energy, and homeland security. Because private equity firms are exempt from many of the public disclosure requirements that apply to public corporations, it is difficult to ascertain the size of the SWF’s holding or the manner in which decisions are made about the companies they own together, some of which are critical to national security.
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