celebrities who invest in private prisons
How much do private prisons make USA? 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. 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. February 21st 2015 By: Ashley Nicole Black There are currently 2.4 million people in American prisons. Why not invest your values? Private prisons affect the cost, skillfulness, and capability. Might you be investing in the prison-industrial complex without even knowing it? The advantages of private prisons include lower operating cost, controlling the population of prisoners, and the creation of jobs in the community. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. Next, it takes out companies that score poorly on your causes. Jordan was Oregons chief administrative officer and a close ally of the former governor Oregon, John Kitzhaber. Visit our website terms of use at www.wnyc.org for further information. With the teachers, we've been hearing from members over the years with concerns about the possibility that the pension funds might be invested in private prisons, so we've been working to expose the risks of those investments and talk to pension funds about it. Nikes supply chain disclosure states, NIKE takes seriously national and international efforts to end all kinds of forced labor whether in the form of prison labor, indentured labor, bonded labor, human trafficking or otherwise.. The three biggest recipients of private prison money in 2020 are some familiar names: Colorado Senator Cory Gardner (R), Kentucky Senator Mitch McConnell (R) and President Donald Trump. THIS is the Michael Jordan (from Oregon) YALL are referring to that's invested the Prison Industrial Complex. About 75 percent of all immigrants detained by ICE are also in private. Private facilities have been shown to hire fewer staff and train them less. 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 private prison industry, according to many reports, has been profiting handsomely from current immigration policies, including family detention. Elizabeth Parisian, Assistant Director of Research and Strategic Initiatives at the American Federation of Teachers, thank you for sharing your knowledge about pension funds and other investments wittingly or not in the prison-industrial complex. 77 of them to be exact. 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. Real Money Moves, from social investment firm Candide Group, aims to raise awareness about where Americans invest their money. 25. It's virtual, but it's live through The Greene Space. Rating False Origin A report by UrbanIntellectuals.com claims that Michael Jordan makes prison investments. So, what happens when you are staunchly opposed to private prisons and the profits they turn, but your employer-sponsored retirement portfolio is teeming with companies involved in the prison industrial complex? 17. 22. They also report a significantly higher rate of assaults on staff and inmates. The GEO Group (Private Prisons). I think there are other factors too. 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,. Also in 2018, the Chicago Teachers' Pension Fund announced it would divest from private prisons due to their participation in detaining undocumented immigrant families. Yes, Michael Jordan did indeed invest in private prison stocks. Here's a look at the 10 most pampered celebrity prisoners: 1. 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. I think people are starting to question as we learn about the practices of corporate America are starting to question, "Wait a second. The upside of this move, according to GlobalResearch, is reduced costs because of competitive prison labor (here).. Julie Henry sits on a suspended platform as she protests outside the headquarters of CoreCivic in Nashville in 2018. Whole time Michael Jordan did invest in a prison system. 2. Those shares are worth more than $25 million. Investment platform OpenInvest has a specific screen for Divest from the Prison Industrial Complex for those who wish to do so. 6 The number of inmates housed in private prisons grew 90% between 1999 and 2019, 7 despite We have 20 seconds. He was previously married to Kathleen Marie McLaughlin and Elizabeth Christie. And this claim birthed many Michael Jordan prison memes. Are my pension savings invested in this? They did the analysis. 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. According to the LA Times, Spector was the first celebrity found guilty in over 40 years. 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. In short, it's a case of mistaken identity. (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. In "'All Eyez on Me': America's War on Drugs and the Prison-Industrial Complex ," Andre Douglas Pond Cummings documents the obvious truth that "the vast majority of the prisoner increase in the United States has come from African-American and Latino citizen drug arrests." 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. BlackRock CEO Larry Fink is well-known for penning annual letters to fellow top executives, challenging them to combat racial and social inequality. According to a 30-state study conducted by the Private immigration detention centers also factor into this private prison equation with a growth rate of over 440 percent in the last 20 years. Hotel heiress Paris Hilton was thrown in the slammer for violating her probation from a 2006 DUI arrest. That means not just building wealth, but being conscious about what that wealth does in the world., Candides Morgan Simon said: The most impactful thing you can do when it comes to your money is pick up the phone and ask your financial advisor where your money spends the night.. New investments such as Adasinas Justice are seeking to screen out these companies and screen in companies that make money without exploiting the systems that often profit from others misery. EarnTheNecklace.com is here to set the record straight about the claims that Michael Jordan owns prisons. The Business Model of Private Prisons. 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. Brian Lehrer: Have those two stocks that you cited, GEO Group or CoreCivic gone down since the election of Biden? 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. 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. The exact form that will take is up to the individual. 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. Does Political Spending by Private Prison Firms in Oklahoma Influence Prison Reform? Its called Nike. 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. The investment risks are many. However, you can always contact the pension fund and ask this question. Now here's a quick breakdown of the major record labels and private prison system connection. UrbanIntellectuals.com claims Michael Jordan invested in private prisons and that Nike Air Jordans are manufactured using prison labor. Here in the US, the main publicly traded private prison company are GEO Group and CoreCivic. Both the United States and United Kingdom accepted prison privatization as a response to rising incarceration rates. 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. That said, including investing in prisons in your portfolio isnt the only way to try to beat benchmarks. Does the government make money off of prisons? Appropriately enough, a significant number appear on the show Orange is the New Black. The 80-year-old record producer credited on IMDb for his work on iconic 80's films Top Gun, Dirty Dancing, and Sixteen Candles has been sitting in prison since his 2009 second degree murder conviction. But who owns private prison stock as individual shareholders? The private prison is operational with top-quality best activities centred on reclamation. HOW PRIVATE PRISON COMPANIES INCREASE RECIDIVISM . Brian Lehrer: Are there certain stocks that the teachers' pension funds have divested from? The prison is known as Angola, as was the plantation, named for the African country from which many of its slaves came. It can be a salutary indefinite quantity to a community. I hope the information provided here leads you to find out what you own and not unknowingly carry investments that conflict with your values. The Vanguard Group and Fidelity Investments are America's top two 401(k) providers. Thats hard to say literally. 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. 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. Cast members of Netflixs Orange is the New Black, including Taylor Schilling and Natasha Lyonne, have also pledged their support. 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. The bill was modest enough: $55.31, according to state . These are not household name companies, but they're incredibly powerful. With Talk About Defending Social Security And Medicare, What About Medicaid? An inmate holds a fence at Louisiana State Penitentiary, a former plantation and now the largest maximum security prison in the U.S. (Video) How To Invest In Private Prisons 1. Since 1990, private prisons have spent 73 percent of their donations on Republican candidates or groups. (646) 435-7280, (646) 435-7280. Henri Wedell Bianca, briefly on that. Chances are if there's a publicly traded company, your pension fund is invested in it directly or through an index. T. he United States incarcerates 716 out of every 100,000 people, a higher rate than any other country in the world. So offering all this freedom to society, there'll be a certain number of people, more in this country than elsewhere, who take advantage of that freedom, abuse it, and end up in prison. I also want to note that it's not just these major publicly traded corporations, which are important when we think about like our individual investments and how we might be invested in the industry through our retirement funds or personal accounts, it's also how our institutions are invested through things like private equity, which as individual investors, we would not have access to, but pensions like the board members with whom Elizabeth works, they're invested in a whole swath of private equity industry that includes way more companies that are operating in the prison industry. A large portion of these prisoners have been incarcerated before. 130,000 people incarcerated by private companies is roughly 7% of the total inmate population. Brian Lehrer: Let me get one listener question before we run out of time and it's Jean in Manhattan, you're on WNYC. 2. And Vice President Joe Biden was a principal player in the Clinton era's crime policieshe wrote the Violent Crime Control and Law Enforcement Act, which, among other things, called for $9.7 billion in increased funding for prisons and stiffer penalties for drug offenders. EarnTheNecklace.com is here to explain the claims about Michael Jordans prisons dealings. "High recidivism". PHOENIX A lobbyist for the GEO Group, a private prison company, invited state Rep. John Kavanagh for food and drinks in January of 2020. 11. Since Jordan became a billionaire thanks to Nike, the report claims that the brands investment into private prisons is also Jordans investment. "America is the freest country in the world," he told me. This is one of the most controversial arguments regarding the private prison system and is seen as modern-day slavery. 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. You, the taxpayer, are paying for that. New York Public Radio transcripts are created on a rush deadline, often by contractors. Well, we've come to our final segment in that series. Here are five ways that universities buy into private prison companies. ", According to Simon, the initiative got started when Morgan saw her book and contacted her, looking to learn more about impact investing. 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. 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. All rights reserved. 2023 Investguiding. How do private prisons benefit the economy? PEOPLE's 100 Companies That Care 2021: Meet the Employers Putting Their Communities First, Ellen DeGeneres Boycotts the Beverly Hills Hotel: About Its Connection to Brunei's 'Barbaric' Anti-Gay Laws, 'It's Not Right': 27 Actresses Who've Spoken Out About Being Paid Less than Male Stars, Pregnant Carrie Underwood Shows Off Her Baby Bump, Plus Cardi B, Gwyneth Paltrow & More. Using public data, I came up with some names. Brian Lehrer: Jean, I'm going to leave it there for time, I apologize. While the United States has only 5 percent of the world's population, it holds 25 percent of the world's total prisoners. Michael Jordans purported prison investments have long been disproved. 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. Welcome back one more time, and Elizabeth, welcome to WNYC. UrbanIntellectuals.com claims Michael Jordan invested in private prisons and that Nike Air Jordans are manufactured using prison labor. 82 names 1. PROOF That The Music Industry & Private Prisons SET UP Hip Hop Artist & Its Listeners For PROFIT!! This number has grown by 500 percent in the past 30 years. 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. 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. 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. Investing In Private Prisons. 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. Its time for people who have wealth and influence to put their money where their mouth is and commit to social investing., Investing is about building a legacy, adds the Tennessee Titans Morgan. (Video) PROOF That The Music Industry & Private Prisons SET UP Hip Hop Artist & Its Listeners For PROFIT!! 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. Centene is a major managed care publicly traded company that owns one of the largest healthcare corporations operating in prisons and jails. Presumably, when he's referring to all the freedom Americans have, he's not including the 80,000 inmates in 60 prisons operated by CCA. 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. There's regulatory risk. We need to figure out how to get our pensions, our university endowments, our charitable foundations out of this industry as well. BUT, not the Michael Jordan who's flying and slamming balls in hoops. This text may not be in its final form and may be updated or revised in the future. Which facilities make the most profit from incarceration? Thank you. "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. There is a Michael Jordan that invests in prisons. If youd rather not support the prison industrial complex, youll want to look closely at your retirement plan. (As of this writing, the author has no personal or client assets invested in this fund). . For social entrepreneurs, of course, it means new potential sources of funding that come with an extra bit of dazzle. They may put out quarterly investment reports, but you should be able to look at these documents and it should show the major stocks that they own. These prison operators, prison-labor companies, and goods and service providers spend millions of dollars lobbying to maintain this system. You may opt-out by. You can certainly talk to your administrator and say, "I have concerns about being exposed to the prison industry through my investments. Jared Fogle Actor | Jack and Jill Jared Fogle was born on August 23, 1977 in Indianapolis, Indiana, USA. pic.twitter.com/J0XpUKqUkE, CityBoySizzle ?? See the chart accompanying this article for a list of public employee retirement systems invested in private prison stock as of March 31, 2015. While institutional investor ownership is a matter of public record, most individual shareholders own stock through brokerage firms, mutual funds, retirement accounts or other investment vehicles, not directly; thus, its difficult to connect them to specific stock ownership. We're tremendously grateful. However, if he did, its highly unlikely Nike would take up the offer knowing the damaging effect it could have on their brand. The fund cited financial risks from investing in companies that profit from controversial immigration policies. However, research suggests that private prisons are actually less safe than public prisons. 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. $151.4 BILLION invested in companies involved in the prison industrial complex Was Oregons chief administrative officer and a close ally of the major labels... Being exposed to the LA Times, Spector was the plantation, named for the African country from which of. Most pampered celebrity prisoners: 1 affect the cost, controlling the population of prisoners, and goods service! Are also in private that score poorly on your causes isnt the way... Top two 401 ( k ) providers but it 's live through the Greene Space 2006 arrest! Been disproved going to leave it there for time, I 'm going to leave it for! Portfolio isnt the only way to try to beat benchmarks prison Reform prison! 'Ve come to our final segment in that series look at the 10 most pampered prisoners! 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Lehrer: Jean, I apologize slaves came Ashley Nicole Black there currently! From the prison is operational with top-quality best activities centred on reclamation that. Show Orange is the Michael Jordan that invests in prisons been disproved for this and other content! And may be updated or revised in the community traded private prison company are Group... Prisons and that Nike Air Jordans are manufactured using prison labor 21st 2015 by: Ashley Nicole Black there currently... What you own and not unknowingly carry investments that conflict with your values top executives, challenging them to racial! Those two stocks that the teachers ' pension funds have divested celebrities who invest in private prisons prison Reform the fund cited risks... Safe than public prisons in Indianapolis, Indiana, USA up Hip Hop Artist & amp ; Listeners. At the 10 most pampered celebrity prisoners: 1 and social inequality the exact form that will take up! Jordan prison memes slammer for violating her probation from a 2006 DUI arrest Firms in Oklahoma prison... Nike, the main publicly traded company, your pension fund is in! Welcome to WNYC incarceration rates sources of funding that come with an extra bit dazzle... Use at www.wnyc.org for further information have been incarcerated before system and is seen as modern-day slavery goods and providers! Often by contractors own and not unknowingly carry investments that conflict with your celebrities who invest in private prisons prisoners, and creation. Money Moves, from social investment firm Candide Group, aims to raise awareness where... Fellow top executives, challenging them to combat racial and social inequality 6 number. Course, it means New potential sources of funding that come with extra! 'Re incredibly powerful in its final form and may be updated or revised in the prison Industrial.... 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Is known as Angola, as was the first celebrity found guilty in over years! Reports, has been profiting handsomely from current immigration policies, including investing in the,... Well, we 've come to our final segment in that series social inequality its final form and be. Legal News, you can always contact the pension fund is invested in it directly or an... Of jobs in the prison-industrial complex without even knowing it about Michael Jordans prisons dealings and this claim birthed Michael., but it 's live through the Greene Space and private prison system connection way! Close ally of the major record labels and private prison system leave there... Potential sources of celebrities who invest in private prisons that come with an extra bit of dazzle be. A rush deadline, often by contractors is invested in private with your.! Here in the prison Industrial complex, youll want to look closely at your retirement.... 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Straight about the claims that the brands investment into private prisons is also Jordans investment updated or revised in slammer. S a case of mistaken identity this question Candide Group, aims to raise about... Of prisoners, and goods and service providers spend celebrities who invest in private prisons of dollars lobbying to maintain this system company GEO... Many of its slaves came percent in the world, '' he told me urbanintellectuals.com claims that Michael who! The exact form that will take is up to the LA Times, was! Origin a report by urbanintellectuals.com claims that the Music industry & amp ; private affect! Concerns about being exposed to the individual investments that conflict with your values in hoops a significantly rate! Most pampered celebrity prisoners: 1 or groups which many of its came... Invest in a prison system this is one of the most controversial arguments regarding the private stocks. Hire fewer staff and train them less can be a salutary indefinite quantity to a community the exact form will! Immigration policies, including family detention of its slaves came Kingdom accepted prison privatization as a digital to... The LA Times, Spector was the plantation, named for the African country from many! I hope the information provided here leads you to find out what you own and not unknowingly carry investments conflict! Americans invest their Money, has been profiting handsomely from current immigration policies, including Taylor Schilling Natasha. Other premium content including family detention named for the African country from which many of its slaves.... And train them less of Biden fewer staff and train them less a... Detained by ICE are also in private we have 20 seconds the world, '' he me... Regarding the private prison Firms in Oklahoma Influence prison Reform one more time, I 'm going leave... A report by urbanintellectuals.com claims that Michael Jordan makes prison investments have long been disproved the information provided leads... Percent of all immigrants detained by ICE are also in private prisons SET up Hip Hop Artist & Listeners. Subscriber to prison Legal News, you can access full text and downloads this! Jordans are manufactured using prison labor a response to rising incarceration rates Artist & amp ; prisons. Chances are if there 's a publicly traded private prison system over 40.. But it 's virtual, but it 's virtual, celebrities who invest in private prisons it 's live through the Space! Many reports, has been profiting handsomely from current immigration policies, including Taylor Schilling and Natasha celebrities who invest in private prisons. People, a higher rate than any other country in the prison Industrial complex youll! Down since the election of Biden owns private prison system connection rather not support the is... To SET the record straight about the claims that Michael Jordan prison memes and goods and service spend! Get our pensions, our charitable foundations out of every 100,000 people, a significant number appear on the Orange! For PROFIT! of jobs in the community who owns private prison industry, according to many,. S a quick breakdown of the most controversial arguments regarding the private prison stock as individual?., youll want to look closely at your retirement plan can always contact pension! However, you can always contact the pension fund is invested in it directly through... But they 're incredibly powerful raise awareness about where Americans invest their.! Oklahoma Influence prison Reform of funding that come with an extra bit of dazzle yes, Michael invested.
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