celebrities who invest in private prisons
What percentage of prisons are privately owned? There is a Michael Jordan that invests in prisons. Just because an investment scores high in Prison Industrial Complex doesnt mean that it will score high in other categories. I hope the information provided here leads you to find out what you own and not unknowingly carry investments that conflict with your values. "High recidivism". Judith Greene, a former senior fellow at the Center on Crime, Communities and Cultures in New York, and now an independent researcher and policy analyst on privatization, pointed to North Carolina. The answer is, yes, it's very possible. Retired People and Probably You What percentage of prisons are privately owned? (Video) Should You Invest into Private Prisons?? 3. These are not household name companies, but they're incredibly powerful. [See: PLN, June 2015, p.56]. Shares of the two had been doing well this year . 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. Its called Nike. This included a $100,000 payment that apparently violated campaign finance laws; the contribution was made while private prison companies were negotiating with the Department of Justice on whether to continue using private prisons on a federal level. We need to figure out how to get our pensions, our university endowments, our charitable foundations out of this industry as well. They do this, and have their own prisons and correctional facilities. You could choose to forego your plan and invest in an IRA where you can find your own investments. Elizabeth Parisian: Yes. The star-studded list of supporters who together have committed more than $10 million includes Maggie Gyllenhaal, Alyssa Milano, Ellen Pompeo, Natalie Portman, Amy Schumer and Gloria Steinem, as well as as the NFLs Spencer Paysinger, Derrick Morgan, Jelani Jenkins and others. While the United States has only 5 percent of the world's population, it holds 25 percent of the world's total prisoners. In early 2017, Rep. Sheila Jackson Lee, a Democrat from Texas, introduced a resolution to require operators of federally funded private prisons to maintain the same level of transparency about their operations as government-run prisons do. Jordan has amassed as many critics as he has fans. Private prisons offer innovative programs to lower the rates of re-imprisonment. The investment criteria are a data-driven set of investment standards determined by working closely with social justice movements to identify the issues most directly affecting their communitieswith a particular focus on racial, gender, economic, and climate justice. With that in mind, Candide Group decided to launch the initiative with a roster of mega-celebrities and athletes to remove investment money from such companies. While theres a need to house people convicted of crimes, some U.S. prisons do so inhumanely, and many are holding people not yet convicted of a crime. Mutual funds can invest in any company or industry that fits their prospectus. Well, the American Federation of Teachers has 1.7 million members and the majority of our members participate in public pension funds. FYI.. Michael Jordan is NOT an investor in private prisons. Embed. Zoley made nearly $6 million last year through salary and bonuses alone, but the real money is in stockshe owns more than 500,000 shares in GEO, and he has made $23 million in stock trades during one 18-month period. (646) 435-7280, (646) 435-7280. See the chart accompanying this article for a list of public employee retirement systems invested in private prison stock as of March 31, 2015. Does Wells Fargo invest in private prisons? There have been reports of people losing their lives for a pair of Air Jordans. That means if you have a 401(k) plan, there's a good chance you benefit financially from private prisons. But who are these people? BlackRock CEO Larry Fink is well-known for penning annual letters to fellow top executives, challenging them to combat racial and social inequality. Brian Lehrer: Listeners, we have time for a few questions on maybe whether you're unwittingly investigating in private prison stock or the prison-industrial complex generally, or anything you might want to ask our guests about this in particular, the last segment and our Punishment and Profit series today on investing wittingly or unwittingly in the private prison industry. Other top institutional owners in the company include Blackrock Fund Advisors with 4.9 million shares, Eagle Asset Management with 2.92 million shares, and Fidelity Small Cap Discovery Fund and Fidelity Management and Research Co., each with 2.4 million shares. Interestingly, its approach shows how your screening choices compare to the investment benchmark you choose. Graphics by Andrew Rodriguez Caldern and David Eads For the second time in four years, fears that a Democrat would be elected president sent private prison stocks plummeting earlier this month. She has worked in the labor movement for over a decade as a strategic campaigner and is now Assistant Director of Research and Strategic Initiatives at the American Federation of Teachers. Along with BlackRock, those include Vanguard, State Street and Fidelity. In response to this unethical expansion of corporate influence in their carceral systems, the two states should expand their social programs, eliminate harsh sentencing practices, and abolish private prisons themselves. Vanguard Group, Inc., is also the largest institutional investor in GEO Group, owning 11.43 million shares; Vanguard owns another 5.5 million shares through its Specialized-REIT Index Fund. Jean: Hello. Tonight, we'll be talking specifically about the investors that pop up and benefit from the industry and we hope people will come for our last episode. Sebastien Elkouby September 19, 2015. Fidelity, BlackRock, State Street and Vanguard are all big private prison investors despite social justice pledges. You can certainly talk to your administrator and say, "I have concerns about being exposed to the prison industry through my investments. Bianca Tylek: Use of prison labor is definitely one of the factors that is often considered into this, so I'll just say really quickly in terms of really practical resources that people can use to figure out if they're exposed to prison labor or any other part of the prison industry, we have a report that we publish annually, our last one was in 2020 that details over 4,000 corporations that are invested in the prison industry, and that can be accessed on our site, worthrises.org. Tags: activists, alysia, alyssa, appropriately, beth, black,, celebrities, celebrities who invest in private prisons, committed, divesting, dover, ellen, enough,, far,, includes, industry, invest, investments, kate, lyonne,, milano, money, moves, mulgrew, natalie, natasha, number, orange, pompeo,, portman,, prison, prisons, private, real, But hes just not the Michael Jordan we all know! The fund cited financial risks from investing in companies that profit from controversial immigration policies. 17. ", According to Simon, the initiative got started when Morgan saw her book and contacted her, looking to learn more about impact investing. PROOF That The Music Industry & Private Prisons SET UP Hip Hop Artist & Its Listeners For PROFIT!! Moreover, in terms of lobbying for tougher sentencing, prison guard unions are much much active contributors. GEO executives with significant stock ownership include CEO George Zoley, who owned 193,712 shares as of May 14, 2015; senior vice president and general counsel John J. Bulfin, with 120,023 shares as of March 2015; and GEO board member (and former Bureau of Prisons director) Norman A. Carlson, who owned 34,894 shares as of June 8, 2015. With Talk About Defending Social Security And Medicare, What About Medicaid? 82 names 1. Does Political Spending by Private Prison Firms in Oklahoma Influence Prison Reform? With a lot of universities, they may not make investment information public, or if you request it, you'll just get back a sheet full of redactions. In short, it's a case of mistaken identity. Why is Pakistan an underdeveloped country? one of the largest shareholders of GEO Group, Violent Crime Control and Law Enforcement Act, recently sold off its $5.1 million worth of GEO Group. 24. You can also choose an investment adviser representative or stockbroker with specialized knowledge of prison-free investing. Over the last three decades, the federal government has largely outsourced immigration detention to private prison companies. Thank you so much, Brian, for just having us on and allowing us to share the event. Palantir Technologies Inc. (NYSE: PLTR) CoreCivic Market Cap: $1.19 billion Dividend: no CoreCivic is a prison stock that provides detention operation services. Brian Lehrer: Are there certain stocks that the teachers' pension funds have divested from? For example, you can choose a benchmark such as the S & P 500 or the Russell 3000 (top 3000 publicly traded US companies). Extracting your support from the prison industrial complex. Statistics from the U.S. Department of Justice show that, as of 2019, there were 116,000 state and federal prisoners housed in privately owned prisons in the U.S., constituting 8.1% of the overall U.S. prison population. He has been criticized for a long time for not doing enough for the black community. The largest owner of CCA stock was Vanguard Group, Inc., with 16.79 million shares valued at $578.9 million, followed by Vanguards Specialized-REIT Index Fund, a mutual fund, with 8.8 million shares. (Video) Michael Jordan invests in the Prison Industrial Complex??? Both Wedell and Zoley are big donors to the Republican party, but that doesn't mean those from the left side of the aisle can't play their game. Joseph Margulies is a civil rights attorney and a professor of law and government at Cornell University, as well as the author most recently of What Changed When Everything Changed: 9/11 and the. (Video) DID MICHAEL JORDAN BUY STOCK IN PRIVATE PRISON ? The deal allegedly said that CCA would buy their prisons with one requirement: That there be a 90% guaranteed occupancy rate. Private prisons can transform the broken government-run prison system. They did the analysis. Are small businesses vulnerable to cyber attacks? This how rich I wanna be #michaelbjordan#michaeljordan#mj#mj23#michaeljordan23#jordanbelike#rich#michaeljordanmeme#richasfuck, A post shared by Sammy Cutz (@_sammy.cutz_) on Apr 17, 2018 at 11:32am PDT. Jail was jail for both the rich and poor. Just tell people about the final event in your live series that is tonight at 7:00 PM. 4. 2. Over the last several years we've seen most of the major banks pull out and refuse to finance these corporations going forward because of a lot of the risks that we're talking about. Public pension funds are major investors, they're deciding not to invest. Chances are if there's a publicly traded company, your pension fund is invested in it directly or through an index. Investing in their future, private prison companies gave more than $150,000 to Trump's campaign. Photo: Mario Tama / Getty Images. Can you talk about your work specifically with teachers' pensions? Part of it, I know that when Trump was elected, private prison stocks were two of the ones that saw the biggest jump because I think investors were expecting him correctly to really be supportive of that industry. The company is one of the nation's largest private prison operators and also. 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). Another prison profiteer who presumably has no moral qualms about the business is George Zoley, the CEO of GEO Group and the second-biggest investor in the incarceration industry. Private prisons can easily get included in the default investment choices in target-date mutual funds or 401(k) or 403(b) investments. EarnTheNecklace.com is here to explain the claims about Michael Jordans prisons dealings. Is there more violence in private prisons? 1. Their motto is to Better the Public Good. Thirty-one states and the federal government incarcerated 116,000 people in private prisons in 2019, representing 8% of the total state and federal prison population. "Private prisons have incentives to make money [and] to cut costs," he says. How do private prisons benefit the economy? He is an actor, known for Jack and Jill (2011), Sharknado 2: The Second One (2014) and Sharknado 3: Oh Hell No! Under Maryland state law, MD Corp. & Assn. By: Caroline John - Published: April 18, 2018 at 8:19 am | Last Updated: On June 5, 2007, Paris checked herself into the Century Regional Detention Facility. When you use the tool, if your mutual fund or exchange-traded fund is found, it will be scored A through F. It also lists the companies that it finds offensive and gives you a brief explanation why. Concerned that you wont make money? Do privately owned prisons increase incarceration rates? Private immigration detention centers also factor into this private prison equation with a growth rate of over 440 percent in the last 20 years. May 4, 2021. pic.twitter.com/J0XpUKqUkE, CityBoySizzle ?? We actually in fact, just licensed our data with Envestnet to develop a screen there for retail investors who want to screen the prison industry out of their portfolios. PLN managing editor Alex Friedmann, who owns a small amount of CCA and GEO stock as an activist investor, which allows him to attend the companies annual shareholder meetings and file shareholder resolutions, requested and obtained a copy of GEOs shareholder list at the companys last annual meeting on April 29, 2015. . Here are five ways that universities buy into private prison companies. Both the United States and United Kingdom accepted prison privatization as a response to rising incarceration rates. Matt Sirovich and Jeremy Mindich both donate to Democratic politicians and are involved with progressive-leaning organizations like Root Capital, a nonprofit lending company that offers loans to farmers in developing countries to alleviate poverty. Simpson murder prosecution, Simpson's "dream team," headed by late attorney Johnnie Cochran, cost an estimated $3-6 million. PLN printISSN: 10757678 |PLN online ISSN: 2577-8803, Corrections Corporation of America/CoreCivic, Greenwashing Washington States Prison System in a River of Sewage, Inside the Shadowy Business of Prison Phone Calls, Tennessee Prisoners Suing Private Prisons Not Required to File in Local Venue, CA: Persons on Community Supervision Eligible to Seek Transfer to Another State, Final Class-Action Settlement Pending in Kids for Cash Scandal, Prisoners Released When Jails Cant Feed Them, Investigation Forces Arizona Clemency Board Chairman to Resign, Notorious Psych Ward at Miami-Dade Jail Finally Shuttered, Ninth Circuit Finds Graham v. Florida Retroactive; 254-Year Sentence Unconstitutional. Yrro Simyarin January 25, 2013. Yes, Biden's election, I think the writing was on the wall. This isn't to make an argument *for* private prisons, just to say that there are much stronger influences . That happens because we are so free in this country.". They have a lot of money and they're very heavily invested in the corrections industry. Hi, Bianca. Hotel heiress Paris Hilton was thrown in the slammer for violating her probation from a 2006 DUI arrest. Arizona's state retirement. Thus, the individual shareholders who own stock in both CCA and GEO remain shrouded in secrecy much like private prison companies themselves, which have a long history of being non-transparent and lacking public accountability even though almost all of their revenue is obtained from government contracts paid with taxpayer funds. All rights reserved. Does the government make money off of prisons? Most Americans dont realize that the big banks that they give all of their money to, household names like Bank of America, Wells Fargo and Chase, actually invest their money in things like private prisons that profit from family detention, the actress said in a statement. They are part of what is known as the prison industrial complex. This is essentially a network of companies, legislators, government systems, and investors that profit from the business of imprisoning people. (That. The authoritative record of New York Public Radios programming is the audio record. Famous Investors Are Jumping On The Trend The Business Behind Private Prisons The private prison business is relatively new in the United States; it wasn't until the year 1984 (fitting, huh?) Julie Henry sits on a suspended platform as she protests outside the headquarters of CoreCivic in Nashville in 2018. We All Do. Adasinas exchange-traded fund (ETF) includes global companies whose business practices are aligned with Adasina Social Justice Investment Criteria and excludes companies whose practices impede the advancement of equitable systems. HOW PRIVATE PRISON COMPANIES INCREASE RECIDIVISM . Next, it takes out companies that score poorly on your causes. And yet, the memes on the subject are still popular. The U.S. criminal justice system incarcerated approximately 2.1 million people in 2019. It can be based on the size of the prison, based on a monthly or yearly set amount, or in most cases, it is paid based on the number of inmates that the prison houses. I think people are starting to question as we learn about the practices of corporate America are starting to question, "Wait a second. Shes also the author of Real Impact: The New Economics of Social Change (Bold Type Books, October 3, 2017). Health experts say prisons and jails are considered a potential epicenter for America's coronavirus pandemic. 17). These prison operators, prison-labor companies, and goods and service providers spend millions of dollars lobbying to maintain this system.