Can a private equity firm be trusted to take care of your children? Click here now to protect our kids!
Starting this year, tens of thousands of parents around the country will have no other choice. In June Bright Horizons, the third largest childcare center in the US, was sold to , a major private equity firm, with a poor track record of bankruptcy, layoffs and cost-cutting.
The $1.3 billion buyout endangers more than 600 centers serving over 70,000 children. It is no secret that private equity firms make money by saddling the companies they buy with hundreds of millions of dollars of debt. Just four years after it bought KB Toys, Bain Capital filed for bankruptcy, walking away with a 370 percent return on its investment.
Click here now to tell Bain Capital to that kids deserve better.
From Metro DC Labor Council
WORKERS, PARENTS RALLY FOR QUALITY CHILD CARE THURSYou can read more by clicking the link's above
Child care workers, parents and labor activists will rally Thursday at 11:30A to save quality childcare in the District. The workers - who work for Bright Horizons, the third largest child care center in the US - are fighting potential layoffs and cost-cutting measures after the purchase of Bright Horizons by private equity firm Bain Capital earlier this year.
"Companies bought out by Bain Capital have faced layoffs, cutbacks, closures, and bankruptcy while Bain came out ahead," says the Tell Bain to Put Kids First website.
"We're worried that Bain Capital won't do the right things for Bright Horizons children, parents, and staff unless we hold them accountable."
Workers and parents will demand that Bain invest in high-quality childcare, give parents and workers a say in decisions affecting them and their children, and commit to being open about its plans for Bright Horizons. For more info, click here.