Tuesday, January 11, 2011

PRIVATE EQUITY FIRM APAX PARTNERS LOOKS AT BUYING CLEANING COMPANY

Apax Partners, the reputed private equity firm seems all set to buy out the cleaning company ISS for a mind boggling $8.5 billion. This sum is simply too huge and serious. Apax is a London based firm while ISS is Danish.

The emerging reports have actually seen people literally get excited as to which way this deal is finally heading to. Now even top lawyers have got involved into the matter and the dealing is still in its early stages, but then very much on. The deal if passed is being looked at, as the largest leveraged buyout of this year.

Legal Week, the UK legal publication went on to state the fact that Skadden, Arps, Slate, Meagher & Flom and Simpson Thacher & Bartlett are the name that are already on board as the advisory group to help out Apax with the deal.

M&A have been working with APAX for some time now. They had done a deal before as well when APAX needed to buy out Tivit, the Brazilian computer service company, which was a one billion dollars deal. Apax had also got the fashion magnet label Tommy Hilfiger about four years ago for as much as $1.6 billion.

Even as the firm’s quest or rather conquest of acquiring one giant company after other continues, the Danish based Gorrissen Federspiel is advising ISS cleaning company. Among other talks being that the giant company Apax is looking at generating a massive $14.5 billion to fund acquisitions in the coming time.

While all said and done, it does indeed definitely look like Apax should be able to successfully buy out the cleaning company, for now one may just wait and watch.

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Previous Post: OUTSOURCING TO INDIA COULD SAVE A LOT OF MONEY FOR THE BRITS

OUTSOURCING TO INDIA COULD SAVE A LOT OF MONEY FOR THE BRITS

Now here it is again, the all famous “outsourcing to India” topic which had taken the entire US by storm, quite literally after all the major MNCs started to outsource call centers jobs to India and the common people cried foul. what with the ever increasing number of jobless people in their own country.

But then none may deny the fact that this would save a lot of money either ways. There have been some serious considerations of outsourcing the British National Health Service (NHS) jobs to India. But then this might again not go down well with the people of Great Britain. Prime Minster David Cameron’s coalition government is actually considering this way for they are looking at desperately doing about £20-billion savings. If the plan is followed however this would have UK patients calling their own practitioners but then via India.

This is how they would have to fix an appointment with their doctors. NHS Shared Business Service (SBS) managing director John Neilson actually praised and lauded the Indian workers for their quality of services and dedication no less. It is a known fact that this is bound to be very much not favored by the British, but then millions of pounds could be effortlessly saved.

On part of the Indian call centre workers however, how would they be able to cope with the angry and desperate, at time seven cursing British people, is another story altogether. It is bound to be difficult on them, the Indian workers that is.

NHS Shared Business Services has already, to date, helped NHS in saving a good £50m and over. At the end of the day they seem to be looking at getting the best possible deals and value for money to the English tax payers. As of now, the SBS has about seven hundred employees in India.

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Previous Post : NO CLEANING SERVICES SAYS BAA

NO CLEANING SERVICES SAYS BAA

Airport operator BAA got some heavy criticism coming in from airlines post its refusal to help them out as far as cleaning of the huge snow left over at the airport was concerned. It made flying off and landing impossible. The snow this year is bound to be absolutely ruthless as the winter is recorded as being one of the harshest in the past two decades.

In fact in quite a few places records have been broken. Travelling in the holiday season has become a big pain fro people, with hurdles and obstacles everywhere. Be it by road, rail or air, the snowfall is causing trouble no ends.

Under the circumstances when someone acts rather arrogant and unhelpful, he is bound to get the flank of one and all. Heathrow airport on the 20th and 21st of December 2010, had to haplessly cancel two thirds of flights. But had Heathrow operator BAA helped out in the cleaning of the snow from the aircraft stands, then normal services could have resumed earlier than it did, in fact much earlier.

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The snow had to be cleaned off manually and there were simply not enough people at the place to help do so quickly. The BAA continued to refuse any help and lend a hand. In the mean while, people had to do with waiting at the airport and passengers were dismayed no ends. The chief executive of BAA, Colin Matthews promised that he would fully look into the matter and deal with the problem as to whatever it is.

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Previous Post: CLEANER FALL TO DEATH FROM THE THIRD FLOOR OF LABOR MINISTRY IN ATHENS

CLEANER FALL TO DEATH FROM THE THIRD FLOOR OF LABOR MINISTRY IN ATHENS

The whole lot of cleaners in Athens seems to be very angry and hell bent of getting their answers after a person fell from the third floor of the Labor Ministry building while cleaning the windows. It seems like he lost his balance while cleaning and fell of unfortunately which turned out to be rather fatal in his case. This has led to mass protests from the cleaners’ union on Korai Street in central Athens at 6 p.m on the 28th of December 2010.

Asiz Emad was the unfortunate victim who fell to his death on the 19th of December 2010. He was an Egyptian immigrant and a father of four. The Radical Left (SYRIZA) MP Michalis Kritsotakis was perhaps the one who brought things to the notice of the common people when he raised a question about the window cleaner’s death.

The Labor Inspectorate in the mean while answered that it didn’t make any such announcement because the employee who would have to deal with the situation was actually on a vacation. The contractor however is under the scanner already and is looking at severe punishment if found guilty.

The contractor is responsible for cleaning the building and if in this case he is found to be flouting any of the rules then he would be punished accordingly. The Attica Union of Cleaners (PEKOP) that has gone absolutely serious and angry on the matter is looking for answers from the ministry and simply won’t settle down for anything unconvincing it seems.

Constantina Kuneva, was a Bulgarian cleaner who had her face badly disfigured because of an acid attack back in 2008. She stands strong as an example to the many other especially the immigrated workers who are exploited inhumanly by the cleaning companies.

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Previous Post: Safety Check