We know we have a successful public demonstration when 55 police cars are dispatched to cover our event. Thursday, July 17 was SEIU’s Global Day of Action to take back the economy, and SEIU Local 521 members – from Fresno to Santa Cruz – blanketed the region with anti-KKR actions, from leafleting Toys “R” Us stores (owned by the private equity firm) to staging a rally at the KKR West Coast headquarters in Menlo Park. The afternoon protest drew more than 200 members, including those from Local 1021 and United Service Workers West 1877. "The wealth of CEOs like George Roberts -- who works right out of this KKR headquarters office behind me — is not, by itself, the problem," said Rachel Welch, a forensic chemist for Valley Medical Center in Santa Clara County. "The problem is that George Roberts and Henry Kravis—and other buyout CEOs—have built their wealth by exploiting tax loopholes and using a business model that can undermine workers and put companies at risk." Staged in more than 100 cities and 25 countries, the campaign action aimed to shine the spotlight on the little-understood world of private equity, the buyout barons who run it, and the tax loopholes that allow them to pay at a lower tax rate on their investment profits than nurses, janitors and social workers. To drive home the point, the Menlo Park rally included a special "guest appearance" from Mr. Roberts. Yes, someone donned a mask impersonating the publicity-shy executive. On stage, Wanda Wallace, a social services supervisor from Kern County, took the opportunity to give "Mr. Roberts" a civic lesson: "Forty-seven million people in America don’t have health insurance. KKR can do something about that by insisting that all the companies it owns provide healthcare for workers. They can use their power to reform our broken healthcare system. KKR: Will you use your power for good?" When "Mr. Roberts" shook his head, "No," the crowd booed. In the end, just as 200-plus members were ready to march around the KKR compound, a company representative was dispatched to meet SEIU Local 521 President Kristy Sermersheim, who delivered a giant check representing billions of dollars lost to taxpayers from loopholes that KKR has taken full advantage of over the years. Until KKR pays its fair share and adopts a code of conduct of good corporate citizenship, Sermersheim warned the company, SEIU members would be back. Video: KKR - Will they pay their fair share? Actions around the world, in pictures In the News, actions around the world: Union targets tax practices, Palo Alto Daily News, July 17 Union targets tax practices, Redwood City Daily News, July 18 Hundreds protest at MP offices of buyout firm, The Almanac Online, July 17 Media Advisory - Buyout Industry, KKR Worldwide Focus of July 17 Actions by Workers to "Take Back the Economy", July 18 Unions Worldwide Target K.K.R., New York Times, July 18 Global Actions Calling for Reform, MarketWatch, July 17 Take back the economy, Reuters, July 18 KKR Faces Union Protests Over Buyout Taxes, Bloomberg, July 21 SEIU protests at KKR headquarters, The Deal, July 21 KPFK radio in L.A., July 21 (to listen to this segment: 25:38-34:40) View the photo slideshow of this event and presentation: "Crush the Greed of the Buyout Barons" >> Stop the Greed Tax loopholes allow billionaires like Henry Kravis, a founder of buyout firm KKR, to pay their huge investment profits at a lower tax rate than nurses, social workers and secretaries. Federal and state treasuries are being depleted of billions of dollars in tax revenues because firms like KKR don't pay their fair share of taxes. We need those tax revenues to pay for critical public services. CalPERS, which takes public employee members' pension money and invests it, is a major investor with KKR. SEIU participants call on CalPERS to ensure that KKR pays its fair share of taxes and becomes a responsible corporate citizen. Want to learn more about KKR and fighting the War on Greed? Watch these videos! Abba-inspired protest at McCain Headquarters outside of Washington, DC For more information: www.BehindtheBuyouts.org www.july17action.org Take Action on Tax Loopholes Because of a tax loophole, buyout billionaires like Henry Kravis, the founder of buyout firm KKR, pay a lower tax rate than many teachers, nurses and firefighters. Please support legislation to close the loophole and generate almost $31 billion in much-needed revenue over the next 10 years, to pay for things like healthcare or middle-class tax relief. >> Sign the Petition Now!
Want to learn more about KKR and fighting the War on Greed? Watch these videos!
Abba-inspired protest at McCain Headquarters outside of Washington, DC For more information: www.BehindtheBuyouts.org www.july17action.org
Take Action on Tax Loopholes Because of a tax loophole, buyout billionaires like Henry Kravis, the founder of buyout firm KKR, pay a lower tax rate than many teachers, nurses and firefighters. Please support legislation to close the loophole and generate almost $31 billion in much-needed revenue over the next 10 years, to pay for things like healthcare or middle-class tax relief. >> Sign the Petition Now!