United Steelworkers to protest Friday at private equity firm

The rally will take place at noon Friday, Sept. 5, at the headquarters of Wayzata Investment Partners, 701 E. Lake St., Wayzata. A caravan to the rally will leave the Minneapolis Labor Center, 312 Central Ave., at 11 a.m. Contact Rachel Bennett Steury, rsteury@usw.org for more information.

As part of the protest, participants will seek to speak to the Patrick Halloran of the private equity firm.

The Steelworkers, the St. Paul Regional Labor Federation, Minneapolis Regional Labor Federation, Minnesota Fair Trade Coalition and the Minnesota AFL-CIO "are joining forces to demand Private Equity Groups like Wayzata Investment partners be accountable to the communities and the lives they affect," organizers said.

The Halsey Mill in Halsey, Oregon, was "a strong union paper making facility" until it was bought by Wayzata Investment Partners three months ago, the Steelworkers said.

"Employees with a combined total of 1,511 years of experience were fired and forced to \’re-apply\’ for their jobs and had to take steep cuts in wages — some up to 28%," said the Steelworkers union, which represents workers at the mill. "They also lost their health insurance in the Private Equity purchase.

"We hope that Patrick Halloran will negotiate in good faith, but we have reason to be concerned. Often times these private equity firms are run by wealthy investors who buy companies, put them deeply in debt by borrowing against assets and using the money for themselves, then converting the companies back to public corporations that are double trouble for the economy. They often slash benefits and wages for everyday workers like those at the Halsey Mill, then they and their billionaire executives avoid paying their fair share of taxes."

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