Accuracy and availability may vary. According to a 30-state study conducted by the 22. UrbanIntellectuals.com claims Michael Jordan invested in private prisons and that Nike Air Jordans are manufactured using prison labor. Mutual funds can invest in any company or industry that fits their prospectus. 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. Its the lawmaker who reportedly invests in private prisons. 1. 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.. 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. The U.S. criminal justice system incarcerated approximately 2.1 million people in 2019. This equates to about 51% of its total annual revenue. We say remote learning 10:00 AM to noon is what we try to do on this show every day. As You Sow is an online platform that might help you know if you own a stake 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. 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. 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. Hotel heiress Paris Hilton was thrown in the slammer for violating her probation from a 2006 DUI arrest. Does it have a mandate that it wont invest in private prisons? "Constraints on new public prison construction and compelling value proposition have benefited the partnership . But it has more to do with the Charlotte Hornets owners public image. 23. 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. By signing up, you agree to the Terms of Use and Privacy Policy & to receive electronic communications from Vice Media Group, which may include marketing promotions, advertisements and sponsored content. Private prisons make a profit an estimated $374 million annually giving them an incentive to cut costs more than public facilities. And yet, the memes on the subject are still popular. Though the US prison population is shrinking slightly, the number of inmates in federal lockup is increasing, and while Obama keeps saying he's ending the war on drugs, he's also proposed budgets that call for increasing the amount of money spent on the Bureau of Prisons. All rights reserved. Just tell people about the final event in your live series that is tonight at 7:00 PM. 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. 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. Sources: www.nasdaq.com, www.finance.yahoo.com, www.msn.com. Hes now known as a guy with a coveted sneaker line people have been killed over. Foreign investors have money in them as well, including the pension fund for the Royal Canadian Mounted Police, which recently sold off its $5.1 million worth of GEO Group stock. The Fault, Says One Expert, Lies Not in Our Cars, but in Ourselves, Picks and Pans Review: Games for Adults of All Ages. Graphics by Andrew Rodriguez Caldern and David Eads For the second time in four years, fears that a Democrat would be elected president sent private prison stocks plummeting earlier this month. 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. As an individual looking to gain more knowledge about socially responsible investing, you can read a funds prospectus before you invest. Paris Hilton. 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. 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. $304.3 MILLION in private prison operators. New York Public Radio transcripts are created on a rush deadline, often by contractors. In the O.J. (AP/Rogelio V. Solis). (Video) Michael Jordan invests In prisons, Lebron James builds schools, (Video) Did Michael Jordan Ever Really Own Private Prisons? Rating False Origin A report by UrbanIntellectuals.com claims that Michael Jordan makes prison investments. 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. Health experts say prisons and jails are considered a potential epicenter for America's coronavirus pandemic. 17). First, a bit of background. Its easy to be invested unknowingly in private prisons. Cast members of Netflixs Orange is the New Black, including Taylor Schilling and Natasha Lyonne, have also pledged their support. Michael Burry's Scion Asset Management added new stocks in the third quarter and boosted its bet on private prisons. Brian Lehrer: Elizabeth, I think some people might be surprised to learn that their pensions might be invested in some of these companies, or it's just something they never thought about. I think there's increasing resources available. (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. The exact form that will take is up to the individual. 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. Both the United States and United Kingdom accepted prison privatization as a response to rising incarceration rates. What is the difference between capital formation and investment? Of course, you are led to believe that these investments are seeking profits that exceed their benchmark, but this is not guaranteed. The hedge fund run by Burry who's best known for betting against the . Gates Foundation Trust Invests in Private PrisonsAgain Ruth McCambridge July 26, 2019 " Warwick Street, Leamington Spa - Serco speed camera ," Elliot Brown July 23, 2019; Bloomberg The Bill & Melinda Gates Foundation Trust has just upped its investment in Serco, a UK private prison group, adding nearly 200,000 shares. You, the taxpayer, are paying for that. 3. The answer is, yes, it's very possible. Under Maryland state law, MD Corp. & Assn. 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. You can then do further research to make up your own mind. It's the Michael Jordan who works for the Bureau of Environmental Services in Portland, Oregon. Michael Jordan vs. You likely already know how overcrowded and abusive the US prison system is, and you probably are also aware that the US has more people in prison than even China or Russia. Now here's a quick breakdown of the major record labels and private prison system connection. Thirty-one states and the federal government incarcerated 116,000 people in private prisons in 2019, representing 8% of the total state and federal prison population. Medicant can extremly grossly oppose. 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. 2. Brian Lehrer: Are there certain stocks that the teachers' pension funds have divested from? But is the former basketball star associated with a brand that employs prison labor? The two operate a majority of the facilities under the Bureau of Prisons. So who owns the vast majority of stock in these two companies? 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. 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.. (Video) DID MICHAEL JORDAN BUY STOCK IN PRIVATE PRISON ? 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. Specifically, unions representing public prison staff, such as the American Federal of State, County and Municipal Employees (AFSCME) and Service Employees Intl Union (SEIU), oppose private prisons. Hi, Jean. 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. So, if someone sees a report claiming that Michael Jordan owns prisons and its being shared on Facebook, they are more likely to believe it. In early 2012, a controversial anonymous letter entitled " The Secret Meeting That Changed Rap Music and Destroyed a Generation " hit the internet by storm. How much working capital do I need when buying a business? Why is Pakistan an underdeveloped country? We want to inspire people to take action, says Simon. This equates to about 51% of its total annual revenue. The Justice Department concluded in a review that private prisons were more dangerous and less effective at reforming inmates than facilities run by the government, leading to policy changes under the Obama Administration to phase out private contracts. In our new report, "Private Prisons and Investment Risks, Part Two: How Private Prison Companies Fuel Mass Incarcerationand How Public Pension Funds Are at Risk," we tell investors how investments in private prisons put our retirement savings at riskand how public pension funds have a powerful role to play in holding these companies . 82 names 1. 19. You can certainly talk to your administrator and say, "I have concerns about being exposed to the prison industry through my investments. (2015). Julie Henry sits on a suspended platform as she protests outside the headquarters of CoreCivic in Nashville in 2018. In 2015, CoreCivic (Corrections Corporation of America) received $911.8 million in federal money from its various prison-related contracts. (@whoissizzle) July 25, 2016. Part of private prisons profits come from exploiting prison workers. Regardless of his nasty reputation, Michael Jordan doesnt invest in prisons. Aside from being super A-list celebrities, that is. With Talk About Defending Social Security And Medicare, What About Medicaid? Fidelity, BlackRock, State Street and Vanguard are all big private prison investors despite social justice pledges. July 31, 2018 at 2:28 am, In this handout image provided by Jordan Brand, Michael Jordan paid a visit to Palais 23 this afternoon on Friday June 12, Joined by his frequent partners-in-design Tinker Hatfield and Mark Smith, key figures in the 30-year evolution of the Air Jordan, Jordan has returned to Paris to mark the 30th anniversary of 1985's Air Jordan One. They might-- If they hear from enough participants that that's something that they want, you might be able to get that option. 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. pic.twitter.com/J0XpUKqUkE, CityBoySizzle ?? Michael Jordan, an Oregon lawmaker, has next to no resemblance to NBA legend Michael Jordan. Does Wells Fargo invest in private 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. Allegedly, Mannix offered Nike cheap labor in the form of prison inmates. Bianca, briefly on that. 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. "High 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. How much do private prisons make USA? 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. Jean: Hello. Reviews: 83% of readers found this page helpful, Address: Apt. Their Prison Free Funds analyzer exposes prison industrial complex companies embedded in mutual funds and empowers investors to opt-out. Jared Fogle Actor | Jack and Jill Jared Fogle was born on August 23, 1977 in Indianapolis, Indiana, USA. 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. Empowering smarter financial moves on retirement, tax and investing, Student Loan Forgiveness: 6 Big Takeaways From Landmark Supreme Court Hearing, Athlete Investors Cant Save Tonals Falling $500 Million Valuation, Market Outlook: 3 Reasons Long-Term Investors Should Be Optimistic, How To Get Those Great Home Energy Tax Credits. "One in every 100 U.S. adults are in prison or jail". 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. (Video) Michael Jordan invests in the Prison Industrial Complex??? With the government paying private prison operators . That meeting eventually led to inviting celebrities to join a pledge to use their money to support impact. Inmates work for pennies per hour. They also pay less, leading to higher turnover and less experienced and well-equipped officers. 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