War on Greed Gets a New Enemy: Goldman Sachs
Brave New Films yesterday released the latest video in its War on Greed series, which previously had focused most of its attention on Henry Kravis and KKR. The new target is federal bailout funds recipient Goldman Sachs, for shoddy treatment of Burger King employees. Goldman, you may remember, teamed up with Bain Capital and TPG Captial to buy the Whopper maker back in 2002. “Wait a minute,” says rhetorical reader. “Didn’t Burger King IPO in 2006, with Goldman Sachs now holding less than 11% of the company’s outstanding shares?” Of course it did, although you won’t hear anything about that in the Brave New Films video. Instead, you’d assume that the private equity consortium still owns Burger King lock, stock and frialator. In fact, the video’s narrator refers to Goldman as being “at the helm of the Burger King Corporation.”
