We've noted before that the private equity industry needs a coordinated public relations campaign. While the latest hearing on Capitol Hill fell flat, there are a lot of issues outstanding. One concern is the willingness of unions to take on the industry. The AFL-CIO has asked the Securities and Exchange Commission to take action against The Blackstone Group's IPO, citing a general lack of transparency. The multi-prong attack on industry practice may not amount to much. I seriously doubt the carry will ever get taxed at a higher rate. And the industry has shown it can overcome opponents: Witness the TXU deal. Still, the issues are not going away.  

For more:
- here's an article from Investment Dealers' Digest (For FierceFinance readers)