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Annmarie Reinhart Smith, Who Battled for Retail Workers, Dies at 61
After nearly three decades with Toys “R” Us, she helped lead a fight by employees for severance pay from the bankrupt company. She died of Covid-19.
Annmarie Reinhart Smith took on the corporate owners of Toys “R” Us after the chain’s bankruptcy filing, fighting for a hardship fund that benefited laid-off employees.Credit.Marcos Echeverria Ortiz/United for Respect
By Stephen Kurczy
Published March 6, 2021Updated March 15, 2021
This obituary is part of a series about people who have died in the coronavirus pandemic. Read about others
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Annmarie Reinhart Smith had worked for Toys “R” Us for nearly three decades when the company filed for bankruptcy protection in 2017, leading to store closings and the layoffs of 33,000 workers, including her. Left without severance pay, she vented her frustration on a Facebook page called the Dead Giraffe Society, named after the store’s mascot, Geoffrey the Gir
Private Equity Firms Are Piling On Debt to Pay Dividends
Dividend recaps, a kind of borrowing long condemned for loading up companies with debt for the benefit of their private equity owners, has surged.
Using borrowed money, the Blackstone Group of New York got about $200 million in dividends out of a company it controls, in a transaction called a dividend recapitalization.Credit.Bloomberg
Feb. 19, 2021
The initial public offering of Apria Healthcare last week was a $170 million boon to Blackstone Group, the private equity firm that is Apria’s majority owner.
But as lucrative as that payday was, it wasn’t as good as the one Blackstone extracted from the company just a few weeks earlier: about $200 million in dividends, paid with borrowed cash.
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As Senators-elect Reverend Raphael Warnock and Jon Ossoff are sworn-in after certification of the Georgia elections, Democrats are poised to assume the majority in the Senate, which, along with their control of the White House and the House of Representatives, significantly changes the policy-making landscape in Washington and the ability for President-elect Biden and Democrats in Congress to move their policy priorities forward over the next two years. This report will discuss potential impacts of this political shift on the federal policy agenda, updating the forecast on key policy issues contained in Akin Gump’s 2020 Post-Election Outlook published in November 2020.