domingo, 6 de abril de 2008

Good on Hillary and Bill.

Gotta admit that when I read this in the Wall Street Journal, was ready to attack the Clintons:

From 2003 to 2006, the couple also appeared to receive at least $12.5 million from Mr. Clinton's relationship with Yucaipa Cos., the Los Angeles investment firm run by his longtime friend, billionaire Ronald Burkle. For 2007, the campaign said the couple received $2.75 million from "partnership income," but didn't specify the source.

But then I read this about Yucaipa and changed my mind:

  • The Yucaipa Companies is a premier private equity investment firm that has established a record of fostering economic value through the growth and responsible development of companies.

  • As an investor, Yucaipa works with management to strategically reposition businesses and implement operational improvements, resulting in value creation for shareholders, customers and employees.

  • Since its founding in 1986, the firm, based in Los Angeles, has completed mergers and acquisitions valued at more than $30 billion.

  • Yucaipa and its founder Ron Burkle have forged a reputation for dealing favorably and fairly with unions. The company’s philosophy: Give workers strong wage and benefits packages and you’ll improve productivity and consequently, the bottom line.

  • "He's probably the best employer we ever dealt with," Ricardo Icaza, President of the Los Angeles local of the United Food and Commercial Workers, told the San Francisco Chronicle. UFCW negotiated a number of labor contracts with Burkle when he owned supermarket chains like Ralphs and Food 4 Less.

  • Burkle has marched with the United Farm Workers and has long been a friend to unions, which have given him many awards. Most recently, Burkle and his Yucaipa Cos. spearheaded a bid for the 12 Knight Ridder papers put up for sale last year by McClatchy Co. The bid, though not successful, was backed by the union representing workers at many of those papers.

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