On a walk through Times Square, a pedestrian can expect to see flashing lights, neon signs and Broadway theaters. Less apparent is that more than two dozen companies prominently located in the Times Square area - from the Toys 'R' Us flagship store, to the New York Sports Club, to Burger King - have been bought out by private equity firms in massive leveraged buyouts. Times Square is "filled with people making $8 an hour, without healthcare, working for some of the wealthiest companies in the world," says Stephen Lerner of the Service Employees International Union (SEIU). Private equity-owned companies with operations in the Times Square area are worth more than $100 billion, according to SEIU estimates, employing more than half a million workers across the United States.
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