Heartland Managing Director Tom Croft and the Responsible Investor Handbook were featured on Maryland Public Television's "Your Money and Business" on October 27, 2016. The show is available online or by using the link below. Tom's segment begins around time marker 16:00.
On September 20, before Senator Elizabeth Warren called on embattled Wells Fargo CEO John Stumpf in a Senate Committee on Banking, Housing and Urban Affairs hearing to resign, the Consumer Financial Protection Bureau (CFPB), the watchdog which rode into town on the aftermath of the financial markets crisis, announced that the bank would "pony up" $185 million for its massive fraud scheme perpetrated on its customers. After the hearing, the WF Board finally took action, stripping the Chairman/CEO of millions of dollars in pay, bonuses, etc. Yesterday, the corporation announced Stumpf's resignation. After punishing thousands of depositors, Stumpf finally received his own capital punishment. Bu
In Greenwich, Darien, and New Canaan, Connecticut, bankers are earning astonishing amounts. Does that have anything to do with the poverty in Bridgeport, just a few exits away? BRIDGEPORT, Conn.—Few places in the country illustrate the divide between the haves and the have-nots more than the county of Fairfield, Connecticut. Drive around the city of Bridgeport and, amid the tracts of middle-class homes, you’ll see burned-out houses, empty factories, and abandoned buildings that line the main street. Nearby, in the wealthier part of the county, there are towns of mansions with leafy grounds, swimming pools, and big iron gates. Bridgeport, an old manufacturing town all but abandoned by industr
We are proud to announce that KPS’ Motor Coach Industries International, Inc. investment and turnaround received Private Equity International’s “Operational Excellence Award” for 2016 in the upper mid-market, Americas category. KPS also received this award in 2013 for its HHI Group Holdings investment and turnaround. Below please find the link to PEI Alternative Insight’s article on Motor Coach Industries published on October 3, 2016. The success of these investments demonstrates KPS’ ability to see value where others do not, buy right and make businesses better. Motor Coach Industries – Private Equity International Operational Excellence Award Winner
NORTH BERGN, NJ – (October 10, 2016) It is with great sadness that the International Longshoremen’s Association, AFL-CIO reports the passing of Dr. Thomas Mackell, Special Advisor to ILA President Harold J. Daggett and the Executive Director of the Maritime Labor Alliance. Dr. Mackell passed away early this morning, on Monday, October 10, 2016 “It is a heartbreaking day for the ILA and the entire maritime industry to report the passing of Thomas Mackell,” said ILA President Harold J. Daggett. “Tom’s contribution to our ILA and to working men and women is vast and he brought a high level of competence, intelligence and integrity to our great union. We extend our deepest sympathies and cond
OpenX header script StartFragmentThe revelations of the bank’s outrageous behavior were in large part a product of a three-year effort to organize frontline workers. EndFragment When U.S. Labor Secretary Thomas Perez pledged last week to conduct a “top-to-bottom” probe into allegations that Wells Fargo’s aggressive sales quotas created a culture that led to rampant labor law violations, he underscored the fact that at the root of the scandal is a whole sector of exploited workers who not only often make paltry wages and rely on public assistance, but also say they were forced to work late, without overtime pay, to meet impossible sales goals, or were fired or demoted for refusing to open f
Wells Fargo just proved, again, that no scam is beneath America’s financial institutions. And no institution is above being watched by a federal agency. On Thursday, the Consumer Financial Protection Bureau ― the watchdog group proposed by Sen. Elizabeth Warren (D. Mass.) in the aftermath of the financial crisis ― announced that Wells Fargo would pony up a total of $185 million for perpetrating a huge scam on its customers. Over at least the past five years, Wells Fargo employees created more than 1.5 million sham checking accounts and applied for 565,000 credit cards, using customer names and money. Customers were charged unnecessary fees, saw their credit scores fall or were simply confuse