Pena has been a partner at venture capital firm Vestar Capital. The good folks at Complete Colorado report on the specifics:
In March of 2011, Vestar acquired 100% of Del Monte Foods through a leveraged buyout.
Just two weeks ago, Del Monte announced the closure of a plant in Kingsburg, Califoria, effectively slashing 1000 jobs. “I am extraordinarily disappointed by Del Monte to make this decision,” Kingsburg Mayor Bruce Blayney told the Kingsburg Recorder. “This is a major blow to the local economy.”
Roughly eight years ago, Vestar purchased the Solo Cup Company.
According to this report, in 2007, Solo Cup Co. (with Vestar as a parent firm) shuttered three factories. As early as 2010, with Vestar still as the parent company, Solo Cup announced plans to shut an eight-decades old factory, ending more than 540 jobs.
In 2002, Vestar acquired frozen food giant, BirdsEye Foods.
In 2006, Vestar laid off approximately 500 workers at BirdsEye. “Some of them were employed at Birdseye for 15 to 30 years,” according to KGO Ch. 7 in San Fransico
OBAMA NATIONAL CO-CHAIR ‘VENTURE CAPITAL VAMPIRE’
By Todd Shepherd
May 24, 2012
President Obama continues to hammer presumptive Republican nominee Mitt Romney on his record with Bain Capital. In a fundraiser on Wednesday in Denver, the President continued to push the "Venture Capital Vampire" theme saying, "What Gov. Romney doesn’t seem to get is that a healthy economy doesn’t just mean a few folks maximizing their profits through massive layoffs or busting unions."
We wonder if former Denver Mayor and Clinton Transportation and Energy Secretary Federico Peña happened to be in the audience, and if he agreed.
Entitlement Whore wrote: You're comparing apples to oranges... Pena is not running for president.
You must not have noticed that Pena is Obama's national cochair on his re-election committee. Think about it for just 3 seconds and you will see the relationship between Obama and Pena. You do not have to be astute to see Obama's approval of Pena, the vulture capitalist.
OK, I'll bite. Can you please back up your remarks that he is a vulture capitalist? Or did you just regurgitate that from an email you didn't bother checking out.
