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This book attempts to convey some of the challenges that those wielding the law for social change purposes have faced and the successes they have achieved. By intention, it is more a studied appreciation than a critical analysis of their efforts. We asked an international team of consultants to help us document and describe how various law-based strategies have worked in very different settings, to draw out connections between those efforts, and to highlight some of the insights that emerge from grantees' experiences in law-related work. We also asked them to help us learn more about the ways the Foundation has played a role in these efforts. Known as the Global Law Programs Learning Initiative (GLPLI), this effort is not definitive, but rather suggestive. Our goal is to contribute to more serious future reflection and, ultimately, more effective programs in this field.
This book explores the racial rules that are often hidden but perpetuate vast racial inequities in the United States.
The president's report to the trustees and statement of grants.
Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.
For more than 200 years, America has turned to the decennial census to answer questions about itself. More than a mere head count, the census is the authoritative source of information on where people live, the types of families they establish, how they identify themselves, the jobs they hold, and much more. The latest census, taken at the cusp of the new millennium, gathered more information than ever before about Americans and their lifestyles. The American People, edited by respected demographers Reynolds Farley and John Haaga, provides a snapshot of those findings that is at once analytically rich and accessible to readers at all levels. The American People addresses important questions about national life that census data are uniquely able to answer. Mary Elizabeth Hughes and Angela O'Rand compare the educational attainment, economic achievement, and family arrangements of the baby boom cohort with those of preceding generations. David Cotter, Joan Hermsen, and Reeve Vanneman find that, unlike progress made in previous decades, the 1990s were a time of stability—and possibly even retrenchment—with regard to gender equality. Sonya Tafoya, Hans Johnson, and Laura Hill examine a new development for the census in 2000: the decision to allow people to identify themselves by more than one race. They discuss how people form multiracial identities and dissect the racial and ethnic composition of the roughly seven million Americans who chose more than one racial classification. Former Census Bureau director Kenneth Prewitt discusses the importance of the census to democratic fairness and government efficiency, and notes how the high stakes accompanying the census count (especially the allocation of Congressional seats and federal funds) have made the census a lightening rod for criticism from politicians. The census has come a long way since 1790, when U.S. Marshals setout on horseback to count the population. Today, it holds a wealth of information about who we are, where we live, what we do, and how much we have changed. The American People provides a rich, detailed examination of the trends that shape our lives and paints a comprehensive portrait of the country we live in today. A Volume in the Russell Sage Foundation Census Series
Three essays are presented that discuss, in general terms, information that was collected in 1987-88 concerning the current status of black studies in the United States. The researchers were invited to survey selected black studies departments, programs, institutes, and centers judged to be representative of the structural diversity and programmatic scope of Afro-American and Africana studies across the country; to evaluate their present capacities and strengths; and to assess their future needs. Since the conversations on which this material is based were confidential it could not be reported in full; however, the essays contain substantial amounts of general information. The essays are entitled: "The Intellectual and Institutional Development of Africana Studies" (Robert L. Harris, Jr.); "Black Studies: An Overview" (Darlene Clark Hine); and "Black Studies in the Midwest" (Nellie McKay). (GLR)