(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. Health experts say prisons and jails are considered a potential epicenter for America's coronavirus pandemic. Yes, Biden's election, I think the writing was on the wall. They did the analysis. 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. Cast members of Netflixs Orange is the New Black, including Taylor Schilling and Natasha Lyonne, have also pledged their support. PEOPLE Editors' Favorite Black-Owned Brands to Shop This Black History Month and Always! Private Prisons: The New Slavery. That happens because we are so free in this country.". 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. Private prisons make on average $15,000 dollars more per prisoner per year when a person is sent to a private prison opposed to a public prison. The company is one of the nation's largest private prison operators and also. In 2015, CoreCivic (Corrections Corporation of America) received $911.8 million in federal money from its various prison-related contracts. Assaults between those in prison occur 65% more often at private prisons as well. Investing In Private Prisons. CCA board member Thurgood Marshall, Jr., son of the late U.S. Supreme Court justice (and FBI informant), owned 42,391 shares as of March 30, 2015, and CCA executive vice president Harley G. Lapin a former director of the Bureau of Prisons hired by CCA shortly after he retired from the BOP following a DUI charge owned just over 70,600 shares as of March 24, 2015. What are the pros and cons of private prisons? (2015). Inmates work for pennies per hour. 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,. CoreCivic formerly and commonly the Corrections Corporation of America and GEO Group are two of the biggest private prison companies in the United States. 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. $304.3 MILLION in private prison operators. 2023 Investguiding. Then its algorithm adjusts the weighting of the remaining companies to most closely match the benchmark you and your adviser have chosen. 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. Shes also the author of Real Impact: The New Economics of Social Change (Bold Type Books, October 3, 2017). Public pension funds are major investors, they're deciding not to invest. THIS is the Michael Jordan (from Oregon) YALL are referring to that's invested the Prison Industrial Complex. 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. You may opt-out by. 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. (Video) Michael Jordan invests in the Prison Industrial Complex??? Copyright 2021 New York Public Radio. Private prisons offer innovative programs to lower the rates of re-imprisonment. 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? Arguably, these are jobs that would pay a minimum wage to those not incarcerated, allowing them a way to feed their families. Most of these employees are probably unaware that their pensions are tied to prisonsand it's hard to say that these are "bad" investments from a purely capitalistic perspective, since these prisons are making money hand over fist. This means that states were going to be expected to do whatever is necessary to ensure that their prisons remain full. But it has more to do with the Charlotte Hornets owners public image. Credits: Handout/GettyImages. 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. 24. Thank you so much, Brian, for just having us on and allowing us to share the event. GEO Group, which is organized as a real estate investment trust, or REIT, reported adjusted funds from operations of $0.70 per share, up 6% from last year and well ahead of analyst expectations of . (Video) PROOF That The Music Industry & Private Prisons SET UP Hip Hop Artist & Its Listeners For PROFIT!! But hes not the greatest player to ever step on the court! Investguiding is a website that writes about many topics of interest to you, a blog that shares knowledge and insights useful to everyone in many fields. So clearly, some people are making lots and lots of money off the booming business of keeping human beings in cages. 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. The fund cited financial risks from investing in companies that profit from controversial immigration policies. Extracting your support from the prison industrial complex. A large portion of these prisoners have been incarcerated before. 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. That effort in and of itself suggests that profit is a stronger motivator for private prisons than keeping communities safe or rehabilitating those who have committed crimes. (AP/Rogelio V. Solis). Snaky stipend very celebrities who invest in private prisons ankyloses under the preceptor. CoreCivic is a prison stock that provides detention operation services. 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. Price of private prisons in immigration: In the fiscal year 2019, the average daily cost was about $127 for adult detention and $319 for family detention. There are also some platforms now that are starting to develop screens, including OpenInvest. Those shares are worth more than $25 million. FYI.. Michael Jordan is NOT an investor in private prisons. Its been a long time since Jordan retired, and the current generation is not entirely aware of his great plays on the court. 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. Private prisons can transform the broken government-run prison system. 11. One of our jobs as impact investors is to change the culture of money., This is a BETA experience. Is there more violence in private prisons? Black woman looking shocked, covering her face with hands, peeping through fingers. What is the difference between capital formation and investment? For example, you can choose a benchmark such as the S & P 500 or the Russell 3000 (top 3000 publicly traded US companies). I think they've gone down a lot over the years. 25. Unfortunately, many enterprises have the honour of immersing themselves in net profit over utility, creating many misfortunes. He has been criticized for a long time for not doing enough for the black community. 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. Nearly every private prison deal includes a "bed mandate" that requires the state to fill 90-100% of the beds in privately-owned detention facilities. They employ a lot of people. For social entrepreneurs, of course, it means new potential sources of funding that come with an extra bit of dazzle. 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 pic.twitter.com/J0XpUKqUkE, CityBoySizzle ?? 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. Hi, Bianca. (Video) Why Are People Accusing Michael Jordan Of Owing Prisons And What's The Bigger Issue? If so, I have concerns about that." UrbanIntellectuals.com claims Michael Jordan invested in private prisons and that Nike Air Jordans are manufactured using prison labor. T. he United States incarcerates 716 out of every 100,000 people, a higher rate than any other country in the world. Private immigration detention centers also factor into this private prison equation with a growth rate of over 440 percent in the last 20 years. These prison operators, prison-labor companies, and goods and service providers spend millions of dollars lobbying to maintain this system. BlackRock CEO Larry Fink is well-known for penning annual letters to fellow top executives, challenging them to combat racial and social inequality. Thank you. Prisoner population levels are appropriately maintained. 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. 2. 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. Yes, Michael Jordan did indeed invest in private prison stocks. . The sins of the prison and jail telephone industry trying to charge families $1 a minute for simple telephone calls are well-documented . As a result, GEO Groups shareholder list cannot be distributed without violating Florida law and incurring civil penalties. This is never a snap decision. How do I report excess contributions removed? In short, it's a case of mistaken identity. The three largest private prison companies (CoreCivic, GEO Group, and MTC) own over 96% of private prison beds. All Rights Reserved. Milano, along with the other celebrities and activists involved in the initiative, wants Americans to make sure they know where their investments are spent. The authoritative record of New York Public Radios programming is the audio record. You can also choose an investment adviser representative or stockbroker with specialized knowledge of prison-free investing. BUT, not the Michael Jordan who's flying and slamming balls in hoops. Although Richard Nixon and Ronald Reagan are largely responsible for the drug-war policies that caused the prison population to skyrocket, Bill Clinton was a "tough on crime" president who continued their ideas. There are also some investment organizations like As You Sow that has screens for prisons. You can even specify the amount of deviation, known as tracking error, from the benchmark you are willing to live with in order to match your values. 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. Does Wells Fargo invest in private prisons? 3. 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. Here in the US, the main publicly traded private prison company are GEO Group and CoreCivic. 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? In 2015, CoreCivic (Corrections Corporation of America) received $911.8 million in federal money from its various prison-related contracts. In the O.J. The request must be made in good faith and for a proper purpose, the purpose must be described with reasonable particularity, and the records to be inspected must be directly connected with the shareholders purpose.. Larry Legend (@larryislegend) December 18, 2017. Hi, Jean. In terms of a university endowment, that can be more difficult because with public pension funds, they are often required to share information publicly because the public is a stakeholder. The free Prison Free Funds tool from As You Sow, a nonprofit that promotes corporate social responsibility, tells users if a mutual fund or ETF is invested in companies that profit off of. Arizona's state retirement. GEO saw a 56 percent spike in profits in the first quarter of 2013, and the company's executives reassured investors that the incarceration rate wouldn't be dropping any time soon when announcing its earnings. Investment platform OpenInvest has a specific screen for Divest from the Prison Industrial Complex for those who wish to do so. But hes just not the Michael Jordan we all know! Its motto is to "Better the Public Good". "High recidivism". These are large, large pools of money and they're long-term investors, but they did the analysis and they found that these investments are too risky to remain invested in and decided to pull out. One has to wonder why. Since CCA has around 117 million shares of outstanding stock, an investor would have to own about 5.85 million shares (currently valued at over $200 million) before they could obtain a copy of the companys shareholder list. 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