Sunday, December 3, 2023

Michigan Senate Candidate is PEU

Another private equity underwriter (PEU) is running for the U.S. Senate.  Sandy Pensler is a candidate for the Red Team in Michigan.

A 2018 news story indicated Pensler's previous candidacy for the U.S. Senate. 

Sandy Pensler, a former economics professor at Harvard and Yale, and the owner of private equity firm Pensler Capital.

Pensler Capital lists one current investment, Korex Companies.  A 2009 article stated:

A grueling fourteen-month long strike at the Korex Don Valley plant came to a bittersweet end this week.

This past Monday, the 110 or so striking workers at the port lands-area plant learned that Sanford (Sandy) Pensler - the facility's New Jersey-based owner - has declared bankruptcy.

Susan Broadbent, a 27-year powder packer, concurred.

"How can these things happen and the government (Canadian) not step in? We will never get over this," said Broadbent, whose husband Todd Short also worked there for 27 years.

"This is the worst time of our lives for this to happen."

"It was family here and I'm hoping to put my history here to good use," said Jamieson, who is easily recognizable for his Santa-like beard.

"It's hard to believe one man can do so much damage."

It's not hard when that one man is a private equity underwriter (PEU).  Pensler also worked for Lehman Brothers and legendary PEU Blackstone.

Polticians Red and Blue love PEU and increasingly, more are one.