celebrities who invest in private prisons

This is never a snap decision. The lawsuit claimed the Department of Corrections was violating the. The one place in the criminal justice system where there was at least an appearance of equality among the economic classes was incarceration. CCA executives own a fair amount of stock too, usually as part of their compensation packages, though their stock ownership pales in comparison to that of institutional investors. You could choose to forego your plan and invest in an IRA where you can find your own investments. Well, the American Federation of Teachers has 1.7 million members and the majority of our members participate in public pension funds. Do privately owned prisons increase incarceration rates? Sebastien Elkouby September 19, 2015. What we saw is after we put out this report, and of course, this has been the work of community organizations, and advocacy groups, and national organizations to call attention to this. The GEO Group (Private Prisons). Jordan has amassed as many critics as he has fans. However, if he did, its highly unlikely Nike would take up the offer knowing the damaging effect it could have on their brand. Whole time Michael Jordan did invest in a prison system. FYI.. Michael Jordan is NOT an investor in private prisons. (page 34) Its state contracts made up 42% of its total revenue or the equivalent of $756.9 million in 2015. In 2015, CoreCivic (Corrections Corporation of America) received $911.8 million in federal money from its various prison-related contracts. [1990] The music industry invested into private prisons and conspired to only promote racial stereotypes in gangsta rap to influence a whole generation by misguiding impressionable young minds into adopting glorified criminal behaviors which often lead to their incarceration [more in comments] Is there more violence in private prisons? Brian Lehrer: Let me get one listener question before we run out of time and it's Jean in Manhattan, you're on WNYC. Because these private prisons have been so successful at making money, some money managers and portfolio managers see them as a viable investment choice. JPMorgan Investment Funds' $9bn global high-yield bond fund took the largest position among the funds, and holds $12.5m in the CoreCivic bond, according to regulatory filings for the end of . Along with BlackRock, those include Vanguard, State Street and Fidelity. In fact, he's so proud of his business, which has committed a laundry list of human rights abuses, he tried to get a college football stadium named after it. A group of artists, athletes and activists has joined together in support of Real Money Moves, a new initiative to keep money out of private prisons. It's estimated that private prisons have 49% more incidences of violence and assaults on guards than public prisons. The report alleges that Nike, and indirectly Michael Jordan, utilize prison labor to produce Jordans signature sneakers. Investment platform OpenInvest has a specific screen for Divest from the Prison Industrial Complex for those who wish to do so. According to NASDAQ data, the retirement funds for public employees and teachers in New York and California together have about $60 million ($30 million each) invested in CCA and GEO. (Video) DID MICHAEL JORDAN BUY STOCK IN PRIVATE PRISON ? As You Sow is an online platform that might help you know if you own a stake in private prisons. In fact, around 92.4% of CCAs stock was owned by 300 institutional investors while 91.1% of GEO Group stock was owned by 272 institutional investors at the end of July 2015. that a prison was completely outsourced from top to bottom to a private entity. 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The prison and border industries. And to this day, his critics continue to share the report and memes about him investing in prisons to make a point. Chances are if there's a publicly traded company, your pension fund is invested in it directly or through an index. (2015). So far, more than 30 super-celebrities have committed to divesting from prison industry investments. George Zoley "America allows more freedom than any other country in the world, much more than Russia and a whole lot more than Scandinavia, where they really aren't free. Teacher retirement funds in Texas and Kentucky have $8.3 million and $4 million invested in prisons respectively, and public employees in Florida ($10.3 million), Ohio ($8.6 million), Texas ($5.6 million), Arizona ($5.3 million), and Colorado ($2.25 million) are also connected to the industry. The report did get one thing right. Jordan was Oregons chief administrative officer and a close ally of the former governor Oregon, John Kitzhaber. Private prisons make a profit an estimated $374 million annually giving them an incentive to cut costs more than public facilities. 1. Luckily, there are groups like Worth Rises and the Private Equity Stakeholder Project, and even the American Federation of Teachers that have done some work to expose where these connections with private equity are. By banking with community banks and credit unions and investing with firms that direct capital towards investments dedicated to social justice and sustainability, Americans of all socio-economic backgrounds can make moves with their money that they will feel good about, says Morgan Simon, a founder of Candide. Private prisons in the United States incarcerated 115,428 people in 2019, representing 8% of the total state and federal prison population. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. "At current imprisonment rates (4), prison populations would grow by about 80,400 between 2012 and 2017, or by more than 13,000 per year, on average". The three largest private prison companies (CoreCivic, GEO Group, and MTC) own over 96% of private prison beds. A 2016 Justice Department report suggested that federal private prisons may be more violent than the public prisons (except for sexual violence), but studies at the state level are far more inconclusive. Who Feels Safe in Adams's NYC? As a result, GEO Groups shareholder list cannot be distributed without violating Florida law and incurring civil penalties. Investment in the private prison industry is getting riskier as banks withdraw, Yee told the magazine. Banks that are heavily invested in CCA include the Bank of New York Mellon Corp. with 2.46 million shares, and Wells Fargo & Company with 1.24 million shares. The authoritative record of New York Public Radios programming is the audio record. Jordans critics are outraged by his silence on social injustices in the African-American community. The fund cited financial risks from investing in companies that profit from controversial immigration policies. After all, this isnt the first time Nikes manufacturing practices have created a scandal. It's virtual, but it's live through The Greene Space. I called them up to ask their thoughts about being politically liberal but heavily invested in private prisons, but Mindich refused to answer any questions and Sirovich was unavailable. Private Prison Risk to Public Pensions Exposed AFT Asset Manager 'Watch List' Urges Divestment from Firms Profiting off the Mass Incarceration of Communities of Color For Release: Tuesday, February 5, 2019 Contact: Andrew Crook o: 202-393-8637 | c: 607-280-6603 acrook@aft.org Today, private prison corporations like the GEO Group, CoreCivic, LaSalle Corrections, and the Management and Training Corporation (MTC) own or operate facilities that hold the overwhelming majority of detained people for Immigration and Customs Enforcement (ICE). Getting riskier as banks withdraw, Yee told the magazine, and MTC ) own over 96 % its... Corporation of America ) received $ 911.8 million in 2015, CoreCivic Corrections. Far, more than 30 super-celebrities have committed to divesting from prison industry is getting riskier as banks,. 911.8 million celebrities who invest in private prisons federal money from its various prison-related contracts federal money from its various contracts. 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