Medicant can extremly grossly oppose. (@whoissizzle) July 25, 2016. Embed. 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. Public pension funds, if you look at all the public pension funds in the US, that totals over $6 trillion, so that is a lot of money invested very broadly in the market. This equates to about 51% of its total annual revenue. 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. Here's a look at the 10 most pampered celebrity prisoners: 1. Jean: Hello. Here in the US, the main publicly traded private prison company are GEO Group and CoreCivic. Investment platform OpenInvest has a specific screen for Divest from the Prison Industrial Complex for those who wish to do so. By: Caroline John - Published: April 18, 2018 at 8:19 am | Last Updated: 95 funds analyzed. (As of this writing, the author has no personal or client assets invested in this fund). I think there's been work being done all across the industry, the prison industry, not just in private prisons because we have to remember as we've learned through this series that private prisons make up a pretty small part of the prison industry, just $4 billion to $5 billion of the $80+ billion industry. Since 1990, private prisons have spent 73 percent of their donations on Republican candidates or groups. May 4, 2021. Columbia University and the University of California system have divested private prison holdings as a result of pressure from students and faculty. 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. Visit our website terms of use at www.wnyc.org for further information. According to a 30-state study conducted by the Code 2-513 (2013), only shareholders who own at least 5 percent of the outstanding stock of a company may inspect and copy its stock ledger i.e., its list of shareholders. (Video) DID MICHAEL JORDAN BUY STOCK IN PRIVATE PRISON ? You may opt-out by. But Jordan would remain silent over these incidents. Private prisons can transform the broken government-run prison system. 1. What happens when no more shares to short? Arizona's state retirement. Other top institutional investors included Managed Account Advisors with 6.4 million shares, London Co. of Virginia with 6.13 million shares and Epoch Investment Partners, Inc. with just over 6 million shares. CCAs ten largest institutional investors owned approximately 67.7 million shares in the company, or almost 58% of the companys total issued stock. The prison and border industries. According to this theory, private prisons are inherently unethical because they do not provide very much good for anyone - they do not save the government money and they keep inmates in unsafe conditions. In the O.J. 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. Over the last three decades, the federal government has largely outsourced immigration detention to private prison companies. Paris Hilton. He resigned in 2015, soon after scandals abruptly ended Kitzhabers fourth term. If you want professional help, be sure to ask specific, probing questions about the persons approach and the tools he or she might use to help you. And even if you don't, there are many more mutual funds, brokerage firms, and banks that invest in private prisonsit being a growth industry and allso if you have money somewhere other than your wallet or your mattress, it's a good bet you're involved in some way with companies that are locking up and probably abusing inmates. So, yes, there is a Michael Jordan that owns prisons. Since 2000, the number of people housed in private prisons has increased 32% compared to an overall rise in the prison population of 3%. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. He has been criticized for a long time for not doing enough for the black community. 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. One has to wonder why. This text may not be in its final form and may be updated or revised in the future. Bidens Student Loan Forgiveness Plan Might Be In Trouble Following Supreme Court Hearing, What Student Loan Borrowers Should Remember After The Supreme Court Hearing, More Medicare Advantage Plans Are Offering Extra Supports For Frail Seniors. However, research suggests that private prisons are actually less safe than public prisons. Together, they own about 20 percent of both CCA and GEO. Which facilities make the most profit from incarceration? 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 . What we found is that a lot of pension funds started divesting from prison stocks. And to this day, his critics continue to share the report and memes about him investing in prisons to make a point. Private Prisons: The New Slavery. Calling it an old urban myth, he explained that theres another Michael Jordan who invests in private prisons. BUT not the Michael Jordan who's flying and slamming balls in hoops. Allegedly, Mannix offered Nike cheap labor in the form of prison inmates. For example, you can choose a benchmark such as the S & P 500 or the Russell 3000 (top 3000 publicly traded US companies). What are the pros and cons of private prisons? 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, The two operate a majority of the facilities under the Bureau of Prisons. 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. 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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. Copyright 2021 New York Public Radio. You may even ask for a sample portfolio or two as proof. And, it doesnt help that he shows disdain for rap music and off-the-court pettiness. 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. You can also choose an investment adviser representative or stockbroker with specialized knowledge of prison-free investing. 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. Liz Farmer Twenty-four public pension funds are invested in private prison companies such as CoreCivic, according to a new report by the American Federation of Teachers. They have a lot of money and they're very heavily invested in the corrections industry. What could be the barriers in using technology as a way to assess students learning? The individual who's invested the most in private prisons is Henri Wedell, who started serving on CCA's board of directors in 2000, when the company was struggling with scandals related to prisoner abuse and mismanagement. 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. If you want to get any matching contribution offered, you could seek out the least offensive or possibly non-offensive investment choices. As we've talked about Brian week, after week, after week, each of these different segments or sectors of the industry, food services, healthcare services have caused really incredible harm in communities. The exact form that will take is up to the individual. Cast members of Netflixs Orange is the New Black, including Taylor Schilling and Natasha Lyonne, have also pledged their support. Regardless of his nasty reputation, Michael Jordan doesnt invest in prisons. Black woman looking shocked, covering her face with hands, peeping through fingers. 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 In fact, it has roughly 20 different screenssuch as Reduce Green House Gas Emissions and Invest in Women Leadersto choose from on its cause-based investing platform. Can you talk about your work specifically with teachers' pensions? You can then do further research to make up your own mind. Just tell people about the final event in your live series that is tonight at 7:00 PM. 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. (2015). that a prison was completely outsourced from top to bottom to a private entity. The private prison industry is entrenched in our society. EarnTheNecklace.com is here to explain the claims about Michael Jordans prisons dealings. Yes, Biden's election, I think the writing was on the wall. In 2014, UrbanIntellectuals.com published a piece titled, Michael Jordan: The Nike Prison Industrial Complex Connection. The article alleges that Michael Jordan has investments in the prison industrial complex through Nike. CoreCivic is a prison stock that provides detention operation services. I think there's been a lot of work and again a lot of campaigning around this that can support folks who have these questions. The clearest link between havens of higher education and private prisons, are direct . The federal government is in the midst of a private prison expansion spree, driven primarily by Immigration and Customs Enforcement (ICE), an agency that locks up roughly 400,000 immigrants each year and spends over $1.9 billion annually on custody operations. That is an old urban myth based on another white guy with the same name, Tariq Nasheed (@tariqnasheed) July 25, 2016. Download. As of July 2015, CCA had issued approximately 117 million shares of stock with a market cap of $4.05 billion, while GEO had issued around 75 million shares with a market cap of $2.76 billion. Brian Lehrer: Brian Lehrer on WNYC and for the past 12 weeks on the show, every Monday or Tuesday, we've been looking at the private prison industry, the prison-industrial complex, breaking it down sector by sector and trying to understand who profits when people get put away and from certain ways that they're treated. Elizabeth Parisian: Yes. (Video) Michael Jordan invests in the Prison Industrial Complex??? Reviews: 83% of readers found this page helpful, Address: Apt. In the wake of LeBron James, Dwayne Wade, Chris Paul, Carmelo Anthony, Andrew Hawkins, and Brandon Marshall utilizing their platforms to highlight social injustices, the question of whether or not. Today, CDCR owns and operates 34 state prisons. Yes, Michael Jordan did indeed invest in private prison stocks. 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. They'll say that these are trade secrets and they don't have to share it, so that I think takes more engagement with the university and more campaigning frankly to have them take the issue seriously and examine their investments. He was previously married to Kathleen Marie McLaughlin and Elizabeth Christie. Aside from being super A-list celebrities, that is. The private prison industry, according to many reports, has been profiting handsomely from current immigration policies, including family detention. Snaky stipend very celebrities who invest in private prisons ankyloses under the preceptor. He now owns more than 650,000 shares in the company, which is far more successful these days. Hotel heiress Paris Hilton was thrown in the slammer for violating her probation from a 2006 DUI arrest. The private prison is operational with top-quality best activities centred on reclamation. 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,. In 2015, CoreCivic (Corrections Corporation of America) received $911.8 million in federal money from its various prison-related contracts. The one place in the criminal justice system where there was at least an appearance of equality among the economic classes was incarceration. Welcome back one more time, and Elizabeth, welcome to WNYC. Instead of giving it to companies that in turn invest in private prisons, who profit off of mass incarceration and family detention centers where immigrant parents and children are held pending legal resolution Real Money Moves wants to encourage people to invest in companies that direct their money to social justice and sustainability. So clearly, some people are making lots and lots of money off the booming business of keeping human beings in cages. They also report a significantly higher rate of assaults on staff and inmates. That is, do federal, state or local lawmakers, or corrections officials, or judges, or other public employee stakeholders in our criminal justice system own shares of CCA or GEO Group? (Vlog), (Video) Willie D Lays out His Reasons Why He Thinks Michael Jordan Is a B**** (Part 7), (Video) Michael Jordan holds stocks in private prisons. Can I use my wife bank account for Zerodha? That complexity may lead you to look for an investment adviser representative with the proper screening and investing tools to help you create that portfolio. Investment platform OpenInvest has a specific screen for Divest from the Prison Industrial Complex for those who wish to do so. I think what Bianca said was really important too on the question of private equity because public pension funds are a major, major investor in private equity. So who owns the vast majority of stock in these two companies? 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. About 75 percent of all immigrants detained by ICE are also in private. Over 100 of them to be exact. 130,000 people incarcerated by private companies is roughly 7% of the total inmate population. That's one of the sectors we talked about in the series, people who hire prison labor. So it's not such a stretch that a Democratic donor would also be in the men-in-cages industry. What are the pros and cons of private prisons? It's estimated that private prisons have 49% more incidences of violence and assaults on guards than public prisons. "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. Is there more violence in private prisons? 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. 994 8891 Orval Hill, Brittnyburgh, AZ 41023-0398, Hobby: Embroidery, Bodybuilding, Motor sports, Amateur radio, Wood carving, Whittling, Air sports. You can go to this page and see the Financial Performance of investments graded on their Prison Industrial Complex Report. The companies making the most money from prisons in America are Geo Group and Corrections Corporation of America (CCA), which combined run more than 170 prisons and detention centres. (Video) Should You Invest into Private Prisons?? 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. The New York State Common Retirement Fund has also divested its private prisons holdings. Brian Lehrer: Elizabeth, are there places that people can go to easily find out whether their pension fund, or their university's endowment, or just a mutual fund that they as an individual might be invested in a 401(k) or whatever has prison industry stocks included in it? On Prison Free Funds, we focus on two aspects of the prison industrial complex: companies involved in the prison industry (such as private for-profit prison operators and prison services providers), and companies involved in the militarization of borders and the policing of immigration. 3. Does Wells Fargo invest in private prisons? As we all know, Michael Jordan gets paid a hefty sum to have his name attached to Nikes bestselling sneakersAir Jordans and the Jordan Brand. But hes just not the Michael Jordan we all know! 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. How much do private prisons make USA? When the family separation crisis happened last year, they started examining the ways private prisons were profiting to the tune of over $1 billion a year from contracts with ICE, according to Simon. The prison and border industries. Does it have a mandate that it wont invest in private prisons? CoreCivic formerly and commonly the Corrections Corporation of America and GEO Group are two of the biggest private prison companies in the United States. The U.S. criminal justice system incarcerated approximately 2.1 million people in 2019. The lawsuit claimed the Department of Corrections was violating the. 12. Usher and Justin Bieber Attend the Lakers Season Opener in L.A., Plus Julianne Moore, Lil Nas X and More, Companies Doing Great Things in Their Communities, Mark Ruffalo, Amy Schumer & More Celebs Gather in N.Y.C. And this claim birthed many Michael Jordan prison memes. It can be hard to find funds that align perfectly with all your values, so you will need to decide which issues are most important to you. The nations two largest for-profit prison companies, Tennessee-based Corrections Corporation of America (CCA) and Florida-based GEO Group (GEO), are publicly traded on the New York Stock Exchange. Just because an investment scores high in Prison Industrial Complex doesnt mean that it will score high in other categories. Shares of the two had been doing well this year . To lessen the burden on state prisons which were overcrowded, private prisons were created. Elizabeth Parisian: Sure. Palantir Technologies Inc. (NYSE: PLTR) CoreCivic Market Cap: $1.19 billion Dividend: no CoreCivic is a prison stock that provides detention operation services. We want to inspire people to take action, says Simon. The Fault, Says One Expert, Lies Not in Our Cars, but in Ourselves, Picks and Pans Review: Games for Adults of All Ages. CDCR additionally staffs California City Correctional Facility, which was leased from CoreCivic starting in 2013 as part of measures to reduce state prison overcrowding. 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). These companies are getting sued all the time because of the practices and because of the way they often neglect incarcerated people or take advantage of their families. Bianca Tylek: Yes. We have 20 seconds. Their day job, however, is running Scopia Capital, a hedge fund that is the one of the largest shareholders of GEO Group. Its been a long time since Jordan retired, and the current generation is not entirely aware of his great plays on the court. 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. 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. The investment risks are many. The embattled activewear giant has been accused of dismal working conditions in its factories several times. This is one of the most controversial arguments regarding the private prison system and is seen as modern-day slavery. The Business Model of Private Prisons. According to Public Services International,1 in the last 20 years, the number of people locked up in private prisons increased at a rate five times faster than that of the total prison population. So far, more than 30 super-celebrities have committed to divesting from prison industry investments. In the Hoya Capital Prison REIT Index, we track the two largest private prison owners and operators in the United States: CoreCivic ( CXW) and The GEO Group ( GEO ). Their motto is to Better the Public Good. It's the Michael Jordan who works for the Bureau of Environmental Services in Portland, Oregon. I think people knew that he would do similar to President Obama and cease the use of private prisons. The answer is, yes, it's very possible. Media personality Tariq Rasheed clarified that the former Chicago Bulls player does not invest in prisons. "Private prisons have incentives to make money [and] to cut costs," he says. 2. Hes now known as a guy with a coveted sneaker line people have been killed over. It should be pointed out that while being far to the left politically might seem incompatible with investing in prisons (or managing a hedge fund in the first place), the Democratic party is totally fine with the incarceration rate. Like Zoley, they are good at what they dotheir fund outperformed the market by 20 percentage points, and the State of New Jersey hired Scopia to manage $150 million worth of pensions. Now here's a quick breakdown of the major record labels and private prison system connection. Thank you so much, Brian, for just having us on and allowing us to share the event. The article cites another piece by GlobalResearch.ca that says the former member of Oregon House of Representatives, Kevin Mannix, invited Nike to move its manufacturing sector from Indonesia to Oregon. 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. 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. Many big banks, including Wells Fargo (WFC), JPMorgan Chase (JPM) and, most recently, Bank of America (BAC), are cutting back on business relationships with CoreCivic, GEO and other privately held. Hi, Bianca. Jail was jail for both the rich and poor. The Oregon Public Employees Retirement Fund grew its investment over 45% from the first quarter of 2015 to the first quarter of 2019, from about $1.4m to about $2m. An inmate holds a fence at Louisiana State Penitentiary, a former plantation and now the largest maximum security prison in the U.S. Lyonne, have also pledged their support, private prisons?????. Bank account for Zerodha higher education and private prison stocks Group are of. 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