BYOP At Bakery Rally This Morning

(Metropolitan Washington Council, AFL-CIO)

Bring your own pastries to this morning’s Bakery Workers rally. The Bakers and the AFL-CIO are rallying at 8:45A at the shareholder meeting of American Capital, protesting the firm’s investment strategy of leveraged buyouts. “High levels of debt can threaten workers’ jobs and risk shareholder value,” says the AFL-CIO, pointing to American Capital’s purchase of the New England Confectionery Company (NECCO), where the private equity firm has doubled the interest rate on NECCO’s senior debt to an unsustainable 8 percent.