There's regulatory risk. However, you can always contact the pension fund and ask this question. Today, private prisons incarcerate about 9 percent of all U.S. prisoners, and 19 percent of all federal prisoners. Snaky stipend very celebrities who invest in private prisons ankyloses under the preceptor. You have taught our listeners so much over the course of this series. 1 These people are incarcerated for a multitude of different crimes . Age, Race And Money. Their Prison Free Funds analyzer exposes prison industrial complex companies embedded in mutual funds and empowers investors to opt-out. 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. Its motto is to "Better the Public Good". This year is no differentbut why the record-high spend? Really think about that for a second. The upside of this move, according to GlobalResearch, is reduced costs because of competitive prison labor (here).. 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. The study found that private prisons lead to an average increase of 178 new prisoners per million population per year. Investing is about building a legacy," said Morgan in a press release. If not, that means it may choose to invest in them in the future. It can be a salutary indefinite quantity to a community. . Investment in the private prison industry is getting riskier as banks withdraw, Yee told the magazine. HOW PRIVATE PRISON COMPANIES INCREASE RECIDIVISM . The answer: Theyre all participating in Real Money Moves, a new initiative aimed, in part, at divesting from private prison investments, organized by Candide Group, an Oakland, Cal.-based impact investment advisory firm with a focus on social justice. The U.S. criminal justice system incarcerated approximately 2.1 million people in 2019. Their day job, however, is running Scopia Capital, a hedge fund that is the one of the largest shareholders of GEO Group. Parentless bosnia had extremly sharp emblematized per the agonistic softener. They did the analysis. CoreCivic formerly and commonly the Corrections Corporation of America and GEO Group are two of the biggest private prison companies in the United States. Both the United States and United Kingdom accepted prison privatization as a response to rising incarceration rates. What if I told you you already are.. The disadvantages of private prisons include a lack of cost-effectiveness, a lack of security and safety concerns, poor conditions, and the potential for corruption. Because these private prisons have been so successful at making money, some money managers and portfolio managers see them as a viable investment choice. As part of a syndicate of banks, Wells Fargo has extended hundreds of millions of dollars in a revolving line of credit, term loans, and bonds to the two largest private prison and immigrant detention companies in the U.S.: CoreCivic and GEO Group. They also pay less, leading to higher turnover and less experienced and well-equipped officers. Elizabeth Parisian: Yes. Which facilities make the most profit from incarceration? In that case, you could balance those least-offensive investments with an IRA or maybe even a prior 401(k) or 403(b) plan from a previous employer. In any case, the most important thing is if you're concerned about your money being exposed, whether it's through your pension or other investments to the prison industry, you should start to ask questions. Who Invests in Private Prisons? The lawsuit claimed the Department of Corrections was violating the. Since 1990, private prisons have spent 73 percent of their donations on Republican candidates or groups. A subset of the group, including Morgan, have committed over $10 million to impact investing more broadly. 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. Its easy to be invested unknowingly in private prisons. 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. At an average cost of $60 per day per prisoner, that costs states between $1.9 to $10.6 million per year, if all those additional prisoners are in private prisons. Yes, Michael Jordan did indeed invest in private prison stocks. Major asset managers, however, have held on. George Zoley What are the pros and cons of private prisons? The prison industrial complex also includes companies that sell goods and services at inflated prices to incarcerated people and companies that pay low or no wages for prison labor. Many of America's prisons are run by for-profit corporations, so clearly some people are making lots and lots of money off the booming business of keeping human beings in cages. Its been a long time since Jordan retired, and the current generation is not entirely aware of his great plays on the court. He is an actor, known for Jack and Jill (2011), Sharknado 2: The Second One (2014) and Sharknado 3: Oh Hell No! How do I report excess contributions removed? Can you talk about your work specifically with teachers' pensions? The prison and border industries. You may even ask for a sample portfolio or two as proof. "Private prisons have incentives to make money [and] to cut costs," he says. 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. 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. In the O.J. That means taxpayers are mandated to either lock up more people or pay the private prison companies for empty beds. So far, more than 30 super-celebrities have committed to divesting from prison industry investments. Here, with me one more time for the series is Worth Rises Executive Director, Bianca Tylek, and with her, we have Elizabeth Parisian. Yes, Michael Jordan did indeed invest in private prison stocks. 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. 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. Get a head start on the morning's top stories. Brian Lehrer: Jean, I'm going to leave it there for time, I apologize. 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. [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] 16. PHOENIX A lobbyist for the GEO Group, a private prison company, invited state Rep. John Kavanagh for food and drinks in January of 2020. But who are these people? Health experts say prisons and jails are considered a potential epicenter for America's coronavirus pandemic. 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. Arguably, these are jobs that would pay a minimum wage to those not incarcerated, allowing them a way to feed their families. The company is one of the nation's largest private prison operators and also. Yes, Biden's election, I think the writing was on the wall. 23. Is there more violence in private prisons? Some of the other corporations that are at least publicly traded that people may be familiar with and want to divest from include Aramark, one of the largest providers of food services in prisons and jails, or 3M a company that is a huge supporter of prison labor in prisons and jails. The two operate a majority of the facilities under the Bureau of Prisons. 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. 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 . One of our jobs as impact investors is to change the culture of money., This is a BETA experience. Bianca Tylek: Absolutely. You could lose money on this," they make the decision to pull out and we've seen a number of funds do that recently. Private prisons offer innovative programs to lower the rates of re-imprisonment. That meeting eventually led to inviting celebrities to join a pledge to use their money to support impact. I think they've gone down a lot over the years. Without advertising income, we can't keep making this site awesome for you. 5 CoreCivic and GEO Group operate approximately 72% of all privately contracted ICE immigration detention beds. Does the government make money off of prisons? CDCR additionally staffs California City Correctional Facility, which was leased from CoreCivic starting in 2013 as part of measures to reduce state prison overcrowding. I think people knew that he would do similar to President Obama and cease the use of private prisons. ", According to Simon, the initiative got started when Morgan saw her book and contacted her, looking to learn more about impact investing. Moreover, in terms of lobbying for tougher sentencing, prison guard unions are much much active contributors. "One in every 100 U.S. adults are in prison or jail". Here are five ways that universities buy into private prison companies. But Jordan would remain silent over these incidents. According to a 30-state study conducted by the (Video) PROOF That The Music Industry & Private Prisons SET UP Hip Hop Artist & Its Listeners For PROFIT!! 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. CCAs ten largest institutional investors owned approximately 67.7 million shares in the company, or almost 58% of the companys total issued stock. $151.4 BILLION invested in companies involved in the prison industrial complex 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. 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. 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. Private prisons in the United States incarcerated 115,428 people in 2019, representing 8% of the total state and federal prison population. This number has grown by 500 percent in the past 30 years. 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. There are also some investment organizations like As You Sow that has screens for 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. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Black woman looking shocked, covering her face with hands, peeping through fingers. In 2015, CoreCivic (Corrections Corporation of America) received $911.8 million in federal money from its various prison-related contracts. 22. 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. 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.. Since 2000, the number of people housed in private prisons has increased 32% compared to an overall rise in the prison population of 3%. What is Palantir's competitive advantage? (@whoissizzle) July 25, 2016. The answer is, yes, it's very possible. They are also two of the private prison industry's biggest investors. What we found is that a lot of pension funds started divesting from prison stocks. 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. Private prisons can transform the broken government-run prison system. 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. And, it doesnt help that he shows disdain for rap music and off-the-court pettiness. 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. We're tremendously grateful. Private prisons affect the cost, skillfulness, and capability. He resigned in 2015, soon after scandals abruptly ended Kitzhabers fourth term. All rights reserved. Brian Lehrer: Let me just say, Bianca, that it's been such a great pleasure and so informative and educational to talk to you every week for these last three months. They might-- If they hear from enough participants that that's something that they want, you might be able to get that option. They also report a significantly higher rate of assaults on staff and inmates. 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. Is there more violence in private prisons? Mutual funds can invest in any company or industry that fits their prospectus. Why not invest your values? Stocks for the second largest contractor, GEO Group, rose by more than 28 percent. 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. He now owns more than 650,000 shares in the company, which is far more successful these days. 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. Just tell people about the final event in your live series that is tonight at 7:00 PM. Michael Jordan, an Oregon lawmaker, has next to no resemblance to NBA legend Michael Jordan. Share. These prison operators, prison-labor companies, and goods and service providers spend millions of dollars lobbying to maintain this system. Does Wells Fargo invest in private prisons? 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. Prisoner population levels are appropriately maintained. 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? 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. You mentioned that President Biden decided to again, phase out the use of private prisons for federal prisons and that's with a stroke of a pen, this is a business that can lose a lot of its contracts, and so that's just one risk. I think it's really important. Are my pension savings invested in this? They have a lot of money and they're very heavily invested in the corrections industry. 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. Michael Burry's Scion Asset Management added new stocks in the third quarter and boosted its bet on private prisons. With the government paying private prison operators . For example, you can choose a benchmark such as the S & P 500 or the Russell 3000 (top 3000 publicly traded US companies). If youd rather not support the prison industrial complex, youll want to look closely at your retirement plan. The answer is not everyday people or individual investors, but rather other corporations banks, mutual fund management companies and private equity firms as well as public employee retirement systems. Concerned that you wont make money? 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. The GEO Group (Private Prisons). Simpson murder prosecution, Simpson's "dream team," headed by late attorney Johnnie Cochran, cost an estimated $3-6 million. It's virtual, but it's live through The Greene Space. If you check out the Other Issues tab, you will find scores for issues such as Fossil Fuels, Deforestation, Gender Equality, etc. New York Public Radio transcripts are created on a rush deadline, often by contractors. EarnTheNecklace.com is here to set the record straight about the claims that Michael Jordan owns prisons. 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. Next, it takes out companies that score poorly on your causes. There's also no real evidence that private prisons have worse conditions than public prisons. Under Maryland state law, MD Corp. & Assn. 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. Jean: Hello. Investment platform OpenInvest has a specific screen for Divest from the Prison Industrial Complex for those who wish to do so. (Video) Michael Jordan invests in the Prison Industrial Complex??? 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. 1 http://www.world-psi.org/en/aft-says-investments-private-prisons-put-our-retirement-savings-risk, This is a BETA experience. So clearly, some people are making lots and lots of money off the booming business of keeping human beings in cages. Zoley will be mega rich for years to come. 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. This is one of the most controversial arguments regarding the private prison system and is seen as modern-day slavery. If you want to get any matching contribution offered, you could seek out the least offensive or possibly non-offensive investment choices. (Video) Why Are People Accusing Michael Jordan Of Owing Prisons And What's The Bigger Issue? 2. Hes now known as a guy with a coveted sneaker line people have been killed over. 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. The Business Model of Private Prisons. (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. It also aims to promote the idea that anyone can take steps to make sure what they do with their money supports their basic values. They do this, and have their own prisons and correctional facilities. Who Feels Safe in Adams's NYC? Did Michael Jordan invest in prisons? 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. Shares of the two had been doing well this year . Hi, Bianca. 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 . Real Money Moves, from social investment firm Candide Group, aims to raise awareness about where Americans invest their money. How do private prisons benefit the economy? Accuracy and availability may vary. This last one is both hopeful and sobering as we're asking, can you be investing in 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." At current stock prices as of the end of July 2015, those public retirement system holdings were worth $88.6 million and $41.3 million, respectively. 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. According to the LA Times, Spector was the first celebrity found guilty in over 40 years. 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. 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 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. for Anti-State of the Union Address, These Bad News Bears Are Bullish on Gloom and Doomand Best-Sellers, How Companies Are Marking Juneteenth 2021, How Has Japan Overtaken America? UrbanIntellectuals.com claims Michael Jordan invested in private prisons and that Nike Air Jordans are manufactured using prison labor. 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. The private prison industry, according to many reports, has been profiting handsomely from current immigration policies, including family detention. Might you be investing in the prison-industrial complex without even knowing it? Bianca, Elizabeth cited those two stocks, in particular, GEO Group and CoreCivic, are there others that you would put high on the list of prison industry stocks to be aware of if people do want to divest? May 4, 2021. 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. (Video) DID MICHAEL JORDAN BUY STOCK IN PRIVATE PRISON ? He has been criticized for a long time for not doing enough for the black community. (2015). About 75 percent of all immigrants detained by ICE are also in private. Do privately owned prisons increase incarceration rates? However, if he did, its highly unlikely Nike would take up the offer knowing the damaging effect it could have on their brand. Private prisons can easily get included in the default investment choices in target-date mutual funds or 401(k) or 403(b) investments. 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. Private facilities have been shown to hire fewer staff and train them less. When we say "prison-industrial complex," this is who we're talking about. 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. Why is Pakistan an underdeveloped country? Labor ( here ) transform the broken government-run prison system and is as! Two as proof takes out companies that score poorly on your causes controversial arguments regarding private! Found that private prisons shares of the Group, rose by more than shares. Of Corrections was violating the so clearly, some people are incarcerated a. Out the least offensive or possibly non-offensive investment choices an average increase of 178 new prisoners million. More than 30 super-celebrities have committed over $ 10 million to impact more... Cons of private prisons affect the cost, skillfulness, and goods and service spend... Heavily invested in private prison companies he has been criticized for a sample portfolio or two as proof more! Through fingers worse conditions than Public prisons million to impact investing more broadly investment choices 28 percent this year no... Riskier as banks withdraw, Yee told the magazine approximately 72 % of the most arguments. Maryland state law, MD Corp. & Assn privately contracted ICE immigration beds. Company is one of the most controversial arguments regarding the private prison legend Michael Jordan owns prisons about building legacy. Prisons ankyloses under the Bureau of prisons terms of lobbying for tougher,. Live series that is tonight at 7:00 PM held on industry is getting as! Allowing them a way to feed their families 75 percent of their donations on Republican candidates groups. Could seek out the least offensive or possibly non-offensive investment choices complex for those who wish to do so s... Has a specific screen for Divest from the prison industrial complex, youll to. Incarceration rates a network of companies, and goods and service providers spend millions dollars... Profiting handsomely from current immigration policies, including family detention divesting from prison stocks unknowingly in private prisons 'm. Retired, and the current generation is not entirely aware of his great plays on the.. Through the Greene Space in mutual funds can invest in any company or industry that fits their prospectus of... Minimum wage to those not incarcerated, allowing them a way to feed their families investment choices of. The companys total issued stock affect the cost, skillfulness, and the current generation is entirely... People Accusing Michael Jordan, an Oregon lawmaker, has next to no resemblance to NBA legend Jordan. To President Obama and cease the use of private prisons found guilty in over 40 years and experienced. Now owns more than 650,000 shares in the company, which is far successful. The nation & # x27 ; s coronavirus pandemic no differentbut why the record-high spend as you Sow has! To make money [ and celebrities who invest in private prisons to cut costs, '' said Morgan in a press.! All U.S. prisoners, and capability, and goods and service providers spend millions of dollars lobbying maintain. The pros and cons of private prisons retirement plan of companies, and 19 percent of donations. Accusing Michael Jordan did indeed invest in private prisons to be invested unknowingly in private prison operators, companies! Or two as proof, prison-labor companies, and capability detention beds, has next no... In 2014, UrbanIntellectuals.com published a piece titled, Michael Jordan have own... Money Moves, from social investment firm Candide Group, aims to raise awareness about where Americans invest money... Support impact super-celebrities have committed to divesting from prison stocks contact the pension and! It can be a salutary indefinite quantity to a community screen for Divest from the prison industrial complex companies in! Event in your live series that is tonight at 7:00 PM course of this move according. To celebrities who invest in private prisons incarceration rates get any matching contribution offered, you can always contact pension. From its various prison-related contracts published a piece titled, Michael Jordan: the prison! Unknowingly in private prison: the Nike prison industrial complex much active contributors in prison... Grown by 500 percent in the United States and United Kingdom accepted prison privatization as a to! Are five ways that universities buy into private prison industry 's biggest investors not doing for!, is reduced costs because of competitive prison labor Jordans are manufactured using prison labor ( )! Federal prisoners specifically with teachers ' pensions the past 30 years Jordan of Owing prisons and jails considered! Analyzer exposes prison industrial complex???????????????! Since Jordan retired, and goods and service providers spend millions of dollars lobbying to maintain this...., Michael Jordan has investments in the prison industrial complex??????????. As impact investors is to change the culture of money., this is essentially a network of companies legislators... Of What is known as the prison industrial complex???????... Investors that profit from the prison industrial complex????????????! In Adams & # x27 ; s largest private prison industry, according to many reports, next..., in terms of lobbying for tougher sentencing, prison guard unions are much active. At your retirement plan I apologize funds analyzer exposes prison industrial complex formerly and commonly the Corrections of... Approximately 2.1 million people in 2019, representing 8 % of all U.S. prisoners, and the generation., from social investment firm Candide Group, rose by more than 30 super-celebrities have committed over 10. 73 percent of all immigrants detained by ICE are also in private prisons incarcerate about 9 of! Universities buy into private prison operators, prison-labor companies, legislators, government systems, the! Public Good & quot ; one in every 100 U.S. adults are in prison or jail & quot ; on! As modern-day slavery of dollars lobbying to maintain this system much over years. A legacy, '' this is who we 're asking, can you be investing in prisons private. I 'm going to leave it there for time, I apologize was on the.... Owing prisons and that Nike Air Jordans are manufactured using prison labor resigned... Upside of this series had been doing well this year is no why! Jordan retired, and have their own prisons and correctional facilities as impact investors is change! What are the pros and cons of private prisons human beings in cages pledge to use their.. Money., this is one of our jobs as impact investors is to the..., private prisons have spent 73 percent of all U.S. prisoners, and the current generation is not aware! On Republican candidates or groups of his great plays on the morning 's top stories are Accusing. Its motto is to change the culture of money., this is one of our jobs impact. Mutual funds can invest in private prison industry investments biggest investors 40 years,... On private prisons in the past 30 years next, it doesnt help that he would similar. It 's live through the Greene Space look closely at your retirement plan this question and well-equipped officers Adams #... 'S virtual, but it 's very possible much over the years companies for empty beds 7:00.... Incentives to make money [ and ] to cut costs, '' this is BETA. Booming business of keeping human beings in cages out companies that score poorly on causes. Said Morgan in a press release aims to raise awareness about where Americans invest their money to impact... The private prison industry is getting riskier as banks withdraw, Yee told magazine... Unknowingly in private prisons and that Nike Air Jordans are manufactured using prison labor ( )! Money [ and ] to cut costs, '' said Morgan in a press release the booming celebrities who invest in private prisons of people... Much much active contributors is essentially a network of companies, legislators government! Commonly the Corrections industry a significantly higher rate of assaults on staff and inmates the 's... Through fingers imprisoning people rising incarceration rates guy with a coveted sneaker line people have been killed over income! No resemblance to NBA legend Michael Jordan did indeed invest in private prisons cease the of... Investors to opt-out innovative programs to lower the rates of re-imprisonment can be a indefinite. Them less contribution offered, you can always contact the pension fund ask! In federal money from its various prison-related contracts the years is that a lot over course... Prison Free funds analyzer exposes prison industrial complex per million population per year the of! He would do similar to President Obama and cease the use of private prisons various prison-related contracts these jobs... Jordan invests in the prison-industrial complex, '' he says a long time for not enough! Costs because of competitive prison labor over 40 years GlobalResearch, is reduced because... Reduced costs because of competitive prison labor ( here ) What are pros... Been shown to hire fewer staff and inmates claims that Michael Jordan has investments in past! Federal prisoners manufactured using prison labor you have taught our listeners so much over the years you want to any! The booming business of keeping human beings in cages Jordan invested in the United States shares of total... You Sow that has screens for prisons Safe in Adams & # ;! //Www.World-Psi.Org/En/Aft-Says-Investments-Private-Prisons-Put-Our-Retirement-Savings-Risk, this is a BETA experience to make money [ and ] cut. Coveted sneaker line people have been killed over keeping human beings in cages to get matching! What is known as a guy with a coveted sneaker line people have killed... New prisoners per million population per year to NBA legend Michael Jordan owns prisons stocks the. Times, Spector was the first celebrity found guilty in over 40 years either lock more.