Closed petition Ban private equity firms from buying businesses

Closed on 29 October 2014

Ban the sale of businesses to private equity firms. The sale of businesses should be about the long term and the preservation of jobs, they should be about investment in assets including people. The first consideration for private equity firms is the reduction in labour costs. Merging jobs,dissolving jobs and creating a tempory workforce with little in the way of rights,wages and the ability to provide a future for themselves. Purchasing a business for a fast profit is a game that should be off limits. The casino style of business these people are involved in does not benefit anyone save for the few, the loss of jobs,skills and investment in people creates huge problems for individuals and communities alike. As casino banking should be seperate from high street banking, so should the practice of buying a business with debt for the purpose of asset stripping, reducing the workforce to agency labour for the sole purpose of generating a quick profit.