Stella D’oro – a landmark on the Major Deegan – is shutting down today, after more than 75 years in business in NYC. Production is moving to a non-union shop in Ohio after the private equity firm that bought Stella D’oro couldn’t get the union workers in NYC to agree to a 27% pay cut and the elimination of their pension plan.

In case you missed it, the Times had an excellent article yesterday about private equity firms and the subprime mess they are making of American industry (and, of course, making money at it).