Private equity firm Blackstone pledges to hire 50,000 veterans

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    Apr 30, 2013 4:29 PM GMT
    http://finance.fortune.cnn.com/2013/04/30/blackstone-vets/
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    May 01, 2013 11:07 AM GMT
    bipedal saidBlackstone? I thought they were in the business of buying, downsizing, then reselling companies as soon as it is convenient. How do they plan on creating 50,000 jobs? When they are basically in the business of eliminating jobs?

    If I am not mistaken they are the company that bought out my company. eliminated all our jobs in Minnesota, then resold us within 6 months or less.


    Not as soon as it is convenient - but as soon as they are able to recognize enough value. Private equity firms like Blackstone employ a lot of people for their businesses. To sell for more, this can mean buying and consolidating businesses, turning them around by getting rid of money losing divisions, etc. but it can also mean growing it - streamlining then funding market expansion.

    They're not in the business of eliminating jobs.