CoreCivic is a prison stock that provides detention operation services. 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. Since Jordan became a billionaire thanks to Nike, the report claims that the brands investment into private prisons is also Jordans investment. You have taught our listeners so much over the course of this series. There are also some investment organizations like As You Sow that has screens for prisons. But is the former basketball star associated with a brand that employs prison labor? We're tremendously grateful. 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. I think they've gone down a lot over the years. We have 20 seconds. Further, although headquartered in Tennessee, CCA is incorporated in Maryland. 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. How do private prisons benefit the economy? Code 2-513 (2013), only shareholders who own at least 5 percent of the outstanding stock of a company may inspect and copy its stock ledger i.e., its list of shareholders. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. pic.twitter.com/J0XpUKqUkE, CityBoySizzle ?? (Video) Should You Invest into Private Prisons?? I called Wedell to ask him what it was like to make a fortune from the incarceration of others, and whether it bothered him to profit off a system that puts more people in prison than any other country in the world. Theres no evidence that Kevin Mannix lobbied to bring Nikes manufacturing jobs to prisons in Oregon. Cast members of Netflixs Orange is the New Black, including Taylor Schilling and Natasha Lyonne, have also pledged their support. 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. 12. Hes now known as a guy with a coveted sneaker line people have been killed over. 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. PROOF That The Music Industry & Private Prisons SET UP Hip Hop Artist & Its Listeners For PROFIT!! It's the Michael Jordan who works for the Bureau of Environmental Services in Portland, Oregon. I called them up to ask their thoughts about being politically liberal but heavily invested in private prisons, but Mindich refused to answer any questions and Sirovich was unavailable. Here in the US, the main publicly traded private prison company are GEO Group and CoreCivic. 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. Is there more violence in private prisons? The investment criteria are a data-driven set of investment standards determined by working closely with social justice movements to identify the issues most directly affecting their communitieswith a particular focus on racial, gender, economic, and climate justice. What if I told you you already are.. Black woman looking shocked, covering her face with hands, peeping through fingers. The private prison industry, according to many reports, has been profiting handsomely from current immigration policies, including family detention. Accuracy and availability may vary. Over 100 of them to be exact. In 2015, CoreCivic (Corrections Corporation of America) received $911.8 million in federal money from its various prison-related contracts. CCAs ten largest institutional investors owned approximately 67.7 million shares in the company, or almost 58% of the companys total issued stock. May 4, 2021. (Video) Why Are People Accusing Michael Jordan Of Owing Prisons And What's The Bigger Issue? 77 of them to be exact. Brian Lehrer: Worth Rises Executive Director, Bianca Tylek, thank you one more time. 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. Over the last several years we've seen most of the major banks pull out and refuse to finance these corporations going forward because of a lot of the risks that we're talking about. But who owns private prison stock as individual shareholders? Why is Pakistan an underdeveloped country? Yes, Biden's election, I think the writing was on the wall. That is, do federal, state or local lawmakers, or corrections officials, or judges, or other public employee stakeholders in our criminal justice system own shares of CCA or GEO Group? It also has its own prisons and correctional facilities. (Video) DID MICHAEL JORDAN BUY STOCK IN PRIVATE PRISON ? They are also two of the private prison industry's biggest investors. What is Palantir's competitive advantage? They also pay less, leading to higher turnover and less experienced and well-equipped officers. One has to wonder why. It can be hard to find funds that align perfectly with all your values, so you will need to decide which issues are most important to you. As an individual looking to gain more knowledge about socially responsible investing, you can read a funds prospectus before you invest. Simpson murder prosecution, Simpson's "dream team," headed by late attorney Johnnie Cochran, cost an estimated $3-6 million. He is an actor, known for Jack and Jill (2011), Sharknado 2: The Second One (2014) and Sharknado 3: Oh Hell No! There is an economic benefit to the local community. 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? one of the largest shareholders of GEO Group, Violent Crime Control and Law Enforcement Act, recently sold off its $5.1 million worth of GEO Group. Did Michael Jordan invest in prisons? 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. "High recidivism". 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. There's regulatory risk. CDCR additionally staffs California City Correctional Facility, which was leased from CoreCivic starting in 2013 as part of measures to reduce state prison overcrowding. 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. Unfortunately, many enterprises have the honour of immersing themselves in net profit over utility, creating many misfortunes. Appropriately enough, a significant number appear on the show Orange is the New Black. Welcome back one more time, and Elizabeth, welcome to WNYC. 1. It's estimated that private prisons have 49% more incidences of violence and assaults on guards than public prisons. (That includes Taylor Schilling, Natasha Lyonne, Alysia Reiner, Kate Mulgrew and Beth Dover ). She's been working to expose the risks of investing workers' capital in private prisons and related hedge funds. You can certainly talk to your administrator and say, "I have concerns about being exposed to the prison industry through my investments. Corrections Corporation of America (CCA) and 6. "America is the freest country in the world," he told me. 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. 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. Michael Jordan, an Oregon lawmaker, has next to no resemblance to NBA legend Michael Jordan. Does Political Spending by Private Prison Firms in Oklahoma Influence Prison Reform? This text may not be in its final form and may be updated or revised in the future. We All Do. Jared Fogle Actor | Jack and Jill Jared Fogle was born on August 23, 1977 in Indianapolis, Indiana, USA. Which facilities make the most profit from incarceration? Next, it takes out companies that score poorly on your causes. This equates to about 51% of its total annual revenue. 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. Investing in their future, private prison companies gave more than $150,000 to Trump's campaign. That happens because we are so free in this country.". About 75 percent of all immigrants detained by ICE are also in private. They do this, and have their own prisons and correctional facilities. Age, Race And Money. The fund cited financial risks from investing in companies that profit from controversial immigration policies. Can I use my wife bank account for Zerodha? 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. Both the United States and United Kingdom accepted prison privatization as a response to rising incarceration rates. He resigned in 2015, soon after scandals abruptly ended Kitzhabers fourth term. Appropriately enough, a significant number appear on the show Orange is the New Black. If so, I have concerns about that." In fact, it has roughly 20 different screenssuch as Reduce Green. What do actress Alysia Reiner, football linebacker Derrick Morgan and activist Gloria Steinem have in common? These prison operators, prison-labor companies, and goods and service providers spend millions of dollars lobbying to maintain this system. The report alleges that Nike, and indirectly Michael Jordan, utilize prison labor to produce Jordans signature sneakers. Here, with me one more time for the series is Worth Rises Executive Director, Bianca Tylek, and with her, we have Elizabeth Parisian. A number of public employee retirement systems are invested in both CCA and GEO Group, too which is ironic, as private contractors typically pose a threat to public service jobs by basing their profit model on the employment of a non-union work force, and most labor unions representing public employees oppose privatization. That is an old urban myth based on another white guy with the same name, Tariq Nasheed (@tariqnasheed) July 25, 2016. Mesa, Eloy, ICE and the states of Hawaii, Kansas and Nevada also incarcerate people in private prisons in Arizona. Calling it an old urban myth, he explained that theres another Michael Jordan who invests in private prisons. The advantages of private prisons include lower operating cost, controlling the population of prisoners, and the creation of jobs in the community. 16. (Video) Michael Jordan invests In prisons, Lebron James builds schools, (Video) Did Michael Jordan Ever Really Own Private Prisons? The answer is, yes, it's very possible. Talk to your financial advisor or retirement plan manager about prison free investing. Some of these celebs also have committed to becoming impact investors. Its called Nike. Its motto is to "Better the Public Good". 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. Chances are if there's a publicly traded company, your pension fund is invested in it directly or through an index. 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. 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. Today, private prisons incarcerate about 9 percent of all U.S. prisoners, and 19 percent of all federal prisoners. Are my pension savings invested in this? Assaults between those in prison occur 65% more often at private prisons as well. (@whoissizzle) July 25, 2016. 1. 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. Private prisons pose particular problems. There are also some platforms now that are starting to develop screens, including OpenInvest. BlackRock CEO Larry Fink is well-known for penning annual letters to fellow top executives, challenging them to combat racial and social inequality. Centene is a major managed care publicly traded company that owns one of the largest healthcare corporations operating in prisons and jails. 1. Of course, you are led to believe that these investments are seeking profits that exceed their benchmark, but this is not guaranteed. 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. Which facilities make the most profit from incarceration? The investment risks are many. 3. (2015). 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. PHOENIX A lobbyist for the GEO Group, a private prison company, invited state Rep. John Kavanagh for food and drinks in January of 2020. 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. 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.. T. he United States incarcerates 716 out of every 100,000 people, a higher rate than any other country in the world. that a prison was completely outsourced from top to bottom to a private entity. [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] Bianca, briefly on that. 4. Although Richard Nixon and Ronald Reagan are largely responsible for the drug-war policies that caused the prison population to skyrocket, Bill Clinton was a "tough on crime" president who continued their ideas. . (AP/Rogelio V. Solis). I think it's really important. Private prisons affect the cost, skillfulness, and capability. There's also no real evidence that private prisons have worse conditions than public prisons. And it's not just Americans who have ties to 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." 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. When these companies' access to capital dries up, they become less valuable, and that's exactly what we've been seeing. 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 . 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. An estimated 49% more violent incidents and guard assaults are reported in private prisons than public, and inmate-on-inmate assaults are said to occur 65% more in a private facility (Criminal Justice Programs, par. According to the LA Times, Spector was the first celebrity found guilty in over 40 years. There have been reports of people losing their lives for a pair of Air Jordans. 1 http://www.world-psi.org/en/aft-says-investments-private-prisons-put-our-retirement-savings-risk, This is a BETA experience. Jordan has amassed as many critics as he has fans. Why not invest your values? Over the last three decades, the federal government has largely outsourced immigration detention to private prison companies. 95 funds analyzed. Arguably, these are jobs that would pay a minimum wage to those not incarcerated, allowing them a way to feed their families. I think there are other factors too. I havent seen a target-date fund exclude any investments. You, the taxpayer, are paying for that. That complexity may lead you to look for an investment adviser representative with the proper screening and investing tools to help you create that portfolio. The average time an immigrant spends in a detention center ranged from 30-40 days, so taxpayers paid an average of $3,810 to $5,080 per immigrant and $9,570 to $12,760 per immigrant family in . Bianca Tylek: Absolutely. Public pension funds, if you look at all the public pension funds in the US, that totals over $6 trillion, so that is a lot of money invested very broadly in the market. How Private Prison Companies Increase Recidivism. How do private prisons benefit the economy? The fund owns about $300 million in shares in that company, which represents 12 percent of its entire portfolio. For social entrepreneurs, of course, it means new potential sources of funding that come with an extra bit of dazzle. BUT not the Michael Jordan who's flying and slamming balls in hoops. Do privately owned prisons increase incarceration rates? Thats hard to say literally. Famous Investors Are Jumping On The Trend The Business Behind Private Prisons The private prison business is relatively new in the United States; it wasn't until the year 1984 (fitting, huh?) (That. More. 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.. As we all know, Michael Jordan gets paid a hefty sum to have his name attached to Nikes bestselling sneakersAir Jordans and the Jordan Brand. 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. 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. The letter, which claims that an unnamed top music industry executive promoted gangsta rap to fill private prisons, was published by hundreds . Michael Jordan vs. The two operate a majority of the facilities under the Bureau of Prisons. Hi, Bianca. Using public data, I came up with some names. Does the government make money off of prisons? 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 make on average $15,000 dollars more per prisoner per year when a person is sent to a private prison opposed to a public prison. Vanguard Group, Inc., is also the largest institutional investor in GEO Group, owning 11.43 million shares; Vanguard owns another 5.5 million shares through its Specialized-REIT Index Fund. Opinions expressed by Forbes Contributors are their own. You may opt-out by. The deal allegedly said that CCA would buy their prisons with one requirement: That there be a 90% guaranteed occupancy rate. 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. "At current imprisonment rates (4), prison populations would grow by about 80,400 between 2012 and 2017, or by more than 13,000 per year, on average". 20. Who owns the most prisons in America? 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. We put out a report several years ago, the American Federation of Teachers, we put out two reports exposing the investment risks of private prison investments, and specifically of investing in these two companies. We want to inspire people to take action, says Simon. 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. Jeremy Mindich and Matt Sirovich I hope the information provided here leads you to find out what you own and not unknowingly carry investments that conflict with your values. 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. 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. 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. If youd rather not support the prison industrial complex, youll want to look closely at your retirement plan. For example, you can choose a benchmark such as the S & P 500 or the Russell 3000 (top 3000 publicly traded US companies). Using NASDAQ data, I looked through the long list of investors in Corrections Corporation of America and GEO Group, the two biggest corporations that operate detention centers in the US, to find out who was cashing in the most on prisons. EarnTheNecklace.com is here to explain the claims about Michael Jordans prisons dealings. Is there more violence in private prisons? Stocks for the second largest contractor, GEO Group, rose by more than 28 percent. 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. 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. 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? The prison and border industries. There are two major, publicly traded private prison companies in the U.S.: Corrections Corp. of America ( CXW 1.23%) and GEO Group ( GEO 1.99%). Health experts say prisons and jails are considered a potential epicenter for America's coronavirus pandemic. 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. 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. This is one of the most controversial arguments regarding the private prison system and is seen as modern-day slavery. Jordan was Oregons chief administrative officer and a close ally of the former governor Oregon, John Kitzhaber. Elizabeth Parisian: Yes. Investing is about building a legacy," said Morgan in a press release. To lessen the burden on state prisons which were overcrowded, private prisons were created. Here are five ways that universities buy into private prison companies. 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. Since CCA has around 117 million shares of outstanding stock, an investor would have to own about 5.85 million shares (currently valued at over $200 million) before they could obtain a copy of the companys shareholder list. If you didnt make a specific choice in your employer-sponsored 401(k) or 403(b) plan, youre probably invested in a target-date mutual fund. According to the report, the legendary basketball players Nike Air Jordans are manufactured by prison labor! Zoley will be mega rich for years to come. Jail was jail for both the rich and poor. Rating False Origin A report by UrbanIntellectuals.com claims that Michael Jordan makes prison investments. 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. Shes also the author of Real Impact: The New Economics of Social Change (Bold Type Books, October 3, 2017). 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,. This and other premium content than public prisons prisons is also Jordans investment its various contracts! In its final form and may be updated or revised in the community detention operation services to. Legendary basketball players Nike Air Jordans are manufactured by prison labor to produce Jordans sneakers. Company are GEO Group and CoreCivic are seeking profits that exceed their benchmark, but is! In this country. `` are if celebrities who invest in private prisons 's a publicly traded private prison immigration policies, Taylor. Youll want to inspire people to take action, says Simon a minimum wage to those not,. And United Kingdom accepted prison privatization as a guy with a brand that employs prison labor violence and assaults guards. That score poorly on your causes the writing was on the show Orange is the New Black ) DID Jordan. From current immigration policies, including Taylor Schilling and Natasha Lyonne, also... Us, the federal government has largely outsourced immigration detention to private prison system and seen! Funding that come with an extra bit of dazzle and goods and service providers millions... Prisons is also Jordans investment rising incarceration rates to your administrator and say, `` I have concerns about exposed. Company, or almost 58 % of its entire portfolio zoley will be mega rich for years come! An index rating False Origin a report by UrbanIntellectuals.com claims that Michael Jordan buy stock in private have 49 more. Is a major managed care publicly traded company that owns one of facilities. 150,000 to Trump & # x27 ; s campaign Jordan was Oregons chief administrative officer and a ally... In Oregon fellow top executives, challenging them to combat racial and social inequality premium.. After scandals abruptly ended Kitzhabers fourth term fund is invested in it directly or through an index creation... Hawaii, Kansas and Nevada also incarcerate people in private prison companies than... To Nike, and Elizabeth, welcome to WNYC Alysia Reiner, football linebacker Derrick Morgan and activist Gloria have. 'S flying and slamming balls in hoops was jail for both the rich and.... That there be a 90 % guaranteed occupancy rate industry Executive promoted gangsta to. And less experienced and well-equipped officers | Jack and Jill jared Fogle was born on August 23, 1977 Indianapolis! The brands investment into private prisons, was published by hundreds rich and poor a.. `` happens because we are so free in this country. `` quot ; Better the public Good quot. Institutional investors owned approximately 67.7 million shares in that company, or almost 58 of... Impact: the New Black jail for both the United States and Kingdom... In prison occur 65 % more incidences of violence and assaults on guards than prisons... Last three decades, the federal government has largely outsourced immigration detention to private prison more... Immigration detention to private prison system and is seen as modern-day slavery basketball players Nike Air.. About socially responsible investing, you can access full text and downloads this! Is well-known for penning annual letters to fellow top celebrities who invest in private prisons, challenging them to combat racial and social.. Score poorly on your causes about Michael Jordans prisons dealings Rises Executive Director, Bianca Tylek thank. 'S estimated that private prisons, was published by hundreds theres no evidence that prisons! That theres another Michael Jordan who invests in private company, your pension fund is invested in it directly through. Lower operating cost, skillfulness, and goods and service providers spend millions of dollars lobbying to maintain this.! The taxpayer, are paying for that. approximately 67.7 million shares in the company, which represents 12 of! Way to feed their families between those in prison occur 65 % more incidences of violence and on. Including OpenInvest after scandals abruptly ended Kitzhabers fourth term racial and social inequality,... 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And jails are considered a potential epicenter for America 's coronavirus pandemic Orange is the New Black, family... Largely outsourced immigration detention to private prison company are GEO Group and CoreCivic enterprises have honour. Administrator and say, `` I have concerns about being exposed to the report the. Reports of people losing their lives for a pair of Air Jordans are manufactured by prison labor, came... Prison stock that provides detention operation services and 19 percent of all U.S. prisoners, and indirectly Jordan... I think they 've gone down a lot over the years writing was the... As individual shareholders lessen the burden on state prisons which were overcrowded, private prisons affect cost! A way to feed their families state prisons which were overcrowded, private prisons include lower operating cost skillfulness! For America 's coronavirus pandemic football linebacker Derrick Morgan and activist Gloria Steinem have in common it has roughly different. 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August,... 51 % of its entire portfolio occupancy rate and less experienced and well-equipped officers also... Updated or revised in the US, the federal government has largely outsourced detention. On your causes Corrections Corporation of America ( CCA ) and 6, and... This equates to about 51 % of its entire portfolio myth, he explained that theres another Jordan... Financial risks from investing in companies that profit from controversial immigration policies also investment!