And even if you don't, there are many more mutual funds, brokerage firms, and banks that invest in private prisonsit being a growth industry and allso if you have money somewhere other than your wallet or your mattress, it's a good bet you're involved in some way with companies that are locking up and probably abusing inmates. (Video) Michael Jordan invests in the Prison Industrial Complex??? She has worked in the labor movement for over a decade as a strategic campaigner and is now Assistant Director of Research and Strategic Initiatives at the American Federation of Teachers. The Fault, Says One Expert, Lies Not in Our Cars, but in Ourselves, Picks and Pans Review: Games for Adults of All Ages. 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. 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. And to this day, his critics continue to share the report and memes about him investing in prisons to make a point. You can also choose an investment adviser representative or stockbroker with specialized knowledge of prison-free investing. This how rich I wanna be #michaelbjordan#michaeljordan#mj#mj23#michaeljordan23#jordanbelike#rich#michaeljordanmeme#richasfuck, A post shared by Sammy Cutz (@_sammy.cutz_) on Apr 17, 2018 at 11:32am PDT. One of our jobs as impact investors is to change the culture of money., This is a BETA experience. Paris Hilton. Tags: activists, alysia, alyssa, appropriately, beth, black,, celebrities, celebrities who invest in private prisons, committed, divesting, dover, ellen, enough,, far,, includes, industry, invest, investments, kate, lyonne,, milano, money, moves, mulgrew, natalie, natasha, number, orange, pompeo,, portman,, prison, prisons, private, real, Real Money Moves, from social investment firm Candide Group, aims to raise awareness about where Americans invest their money. Today, private prisons incarcerate about 9 percent of all U.S. prisoners, and 19 percent of all federal prisoners. Shares of the two had been doing well this year . 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. The miseries frequently associated with private prisons, as well as controversies over conditions at immigrant detention centers run by CoreCivic and GEO Group, have spurred some big financial players to pull away from the private prison sector in recent years. Welcome back one more time, and Elizabeth, welcome to WNYC. Private facilities have been shown to hire fewer staff and train them less. Some of these celebs also have committed to becoming impact investors. [See: PLN, June 2015, p.56]. All Rights Reserved. Also in 2018, the Chicago Teachers' Pension Fund announced it would divest from private prisons due to their participation in detaining undocumented immigrant families. In the Hoya Capital Prison REIT Index, we track the two largest private prison owners and operators in the United States: CoreCivic ( CXW) and The GEO Group ( GEO ). George Zoley However, you can always contact the pension fund and ask this question. (page 34) Its state contracts made up 42% of its total revenue or the equivalent of $756.9 million in 2015. In early 2012, a controversial anonymous letter entitled " The Secret Meeting That Changed Rap Music and Destroyed a Generation " hit the internet by storm. Privatizing prisons can reduce prison overpopulation, making the facilities safer for inmates and employees. How do private prisons benefit the economy? Michael Burry's Scion Asset Management added new stocks in the third quarter and boosted its bet on private prisons. 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. This equates to about 51% of its total annual revenue. Well, we've come to our final segment in that series. Chances are if there's a publicly traded company, your pension fund is invested in it directly or through an index. Michael Jordan vs. If you check out the Other Issues tab, you will find scores for issues such as Fossil Fuels, Deforestation, Gender Equality, etc. If you're an individual investor, meaning maybe you have a 401(k), it's a little trickier because everyone has to make individual investment decisions with the 401(k) and that's one of the disadvantages. Reviews: 83% of readers found this page helpful, Address: Apt. I hope the information provided here leads you to find out what you own and not unknowingly carry investments that conflict with your values. So, yes, there is a Michael Jordan that owns prisons. But hes just not the Michael Jordan we all know! Fidelity, BlackRock, State Street and Vanguard are all big private prison investors despite social justice pledges. 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. There are also some platforms now that are starting to develop screens, including OpenInvest. 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. We want to inspire people to take action, says Simon. Nonetheless, none of its employees are prison inmates. Bianca, briefly on that. 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. 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. 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. If you have a pension fund, most public pension funds put out an annual report. Whole time Michael Jordan did invest in a prison system. It did not close because of the disappearance of Morris and the Anglins (the decision to close the prison was made long before the three disappeared), but because the institution was too expensive to continue operating. 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. I wanted to know how much the prevention organizations regarding the prison-industrial complex are looking into corporations that are hiring prisoners to make their products within the prisons? Is there more violence in private prisons? Brian Lehrer: Let me get one listener question before we run out of time and it's Jean in Manhattan, you're on WNYC. 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. We need to figure out how to get our pensions, our university endowments, our charitable foundations out of this industry as well. Major asset managers, however, have held on. Sebastien Elkouby September 19, 2015. Jared Fogle Actor | Jack and Jill Jared Fogle was born on August 23, 1977 in Indianapolis, Indiana, USA. You may opt-out by. FYI.. Michael Jordan is NOT an investor in private prisons. 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.. Why is Pakistan an underdeveloped country? This is never a snap decision. Parentless bosnia had extremly sharp emblematized per the agonistic softener. 77 of them to be exact. The federal government is in the midst of a private prison expansion spree, driven primarily by Immigration and Customs Enforcement (ICE), an agency that locks up roughly 400,000 immigrants each year and spends over $1.9 billion annually on custody operations. Milano, along with the other celebrities and activists involved in the initiative, wants Americans to make sure they know where their investments are spent. CCAs ten largest institutional investors owned approximately 67.7 million shares in the company, or almost 58% of the companys total issued stock. 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. 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. 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. Investing in their future, private prison companies gave more than $150,000 to Trump's campaign. Bianca Tylek: Absolutely. Investing is about building a legacy," said Morgan in a press release. That happens because we are so free in this country.". What do actress Alysia Reiner, football linebacker Derrick Morgan and activist Gloria Steinem have in common? Share this on Facebook (Opens in a new window), Share this on Twitter (Opens in a new window). 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. On March 21, 1963, USP Alcatraz closed after 29 years of operation. It's the Michael Jordan who works for the Bureau of Environmental Services in Portland, Oregon. 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. (That. 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. Zoley will be mega rich for years to come. Does the government make money off of prisons? The investment risks are many. 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. You can then do further research to make up your own mind. But if private prisons aren't at the root of mass incarceration, that doesn't mean that private investors haven't found ways to make our criminal justice system worse. Since 1990, private prisons have spent 73 percent of their donations on Republican candidates or groups. 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