News

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Kids First — Fri, 08 Aug 2008 22:31:29 +0000

MEDILL REPORTS
CHICAGO

Demonstrators lash Bain Capital over future of childcare centers

by Maude Standish
Jul 31, 2008

A group of Chicago parents, activists and workers fear the buyout of a for-profit education and social service provider by one of the nation’s largest private equity firms will result in deep budget cuts and a reduction in quality.

The group of 70 demonstrated Thursday in front of Bain Capital LLC’s Chicago offices. Holding homemade signs, the group expressed concern that Bain’s recent takeover of Watertown, Mass.- based Bright Horizons Family Solutions would lessen the quality of services locally provided by the company's centers.

Demonstrations were also held at Bain offices in Boston, Los Angeles and Washington D.C.

“Bain has a reputation of coming and cutting jobs and that’s cause for concern,” said Faith Arnold, a Chicago childcare provider. She added that Bright Horizons has played an important role for many Chicagoans. “They provide quality care to children, support for working families and jobs for educators. They have been very important in the childcare profession,” she said.

To read the rest of the story, go to: http://news.medill.northwestern.edu/chicago/news.aspx?id=96211 .

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Kids First — Fri, 08 Aug 2008 22:17:01 +0000

public news service
NEWS IN THE PUBLIC INTEREST

Chicago Rally Today: Profits Shouldn’t be Child’s Play

July 31, 2008

Chicago , IL – Profits shouldn't be "child's play," according to parents and childcare experts who are rallying in Chicago today. They're protesting an investment firm buyout of Bright Horizons, one the country's largest childcare providers.

Faith Arnold, a childcare provider in the Chicago area, explains the protestors want Bain Capital Partners to commit to high quality, not just corporate profits, with their decision to purchase the chain.

"We want to make sure that our children are first priority. Profit is not our concern; our concern is our children."

To read the rest of the story, and listen to the audio clip, go to: http://www.publicnewsservice.org/index.php?/content/article/5818-1

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Kids First — Fri, 08 Aug 2008 22:08:31 +0000

THE HUFFINGTON POST

Peaceful Revolution: When is the "Big Business" of Child Care Too Big for our Little Kids?

By Kathy Williams

“ ... Child care providers like me are joining together with parents, teachers, community advocates, and others who have been working to improve the quality of child care, and we are calling on Bain Capital to commit to providing quality child care at Bright Horizons Centers. We are going to make sure Bain Capital moves Bright Horizons forward, not backward. ...”

To read the rest of the story, go to: http://www.huffingtonpost.com/kathy-williams/ipeaceful-revolutioni-wheb117156.html

Child Care Chain Buyout Cause for Community Protests from Boston to L.A.

Kids First — Fri, 25 Jul 2008 17:51:54 +0000

Rallies will be held in Boston, Chicago, Los Angeles and Washington, D.C., on Thursday, July 31, to protest Bain Capital Partners’ buyout of the country’s third largest for-profit child care provider — Bright Horizons Family Solutions. Coalitions of concerned parents, community leaders, union members and child care advocates will talk about the threats posed by the buyout and issue demands that the chain’s new owners improve the quality of child care.

Bain Capital Buyout of Bright Horizons a “Done Deal”

Kids First — Tue, 22 Jul 2008 08:44:59 +0000

Buyout includes millions of dollars in fees and $850 million in new debt

On May 7, 2008, shareholders approved the sale of Bright Horizons Family Solutions to the private equity giant Bain Capital Partners, and two weeks later it was finalized. The $1.3 billion buyout includes more than 600 centers serving over 70,000 children.

Shareholders vote Yes; deal expected to close around May 30

Kids First — Sun, 25 May 2008 22:14:18 +0000

Parents and child care advocates are sending a message to Joshua Beckenstein, Managing Director of Bain Capital, asking him to commit to high-quality care, a transparent process, and a place at the table for parents and teachers. Click here to send your message.

Shareholder vote set for May 7

Kids First — Thu, 24 Apr 2008 19:31:01 +0000

On May 7, 2008, Bright Horizons shareholders will vote on the buyout deal. Bain Capital and Bright Horizons have set a deadline of June 30, 2008 for the deal to be finalized, but it is possible that it could be done even sooner than that.

What do you want to tell Bain Capital as they prepare to take over Bright Horizons?