"The Private Equity Stakeholder Project is calling on public pensions in states such as Massachusetts and Ohio to stop investing with H.I.G. if the firm refuses to shed its ownership of food services and commissary company TKC Holdings Inc. and inmate health care service provider Wellpath, claiming in a report that theyâve cut corners to rake in huge profits at the expense of inmates. . "The effort is the latest pushback against the for-profit prison industry by advocacy groups that say public pensions shouldnât invest in a mass incarceration system that disproportionately locks up minorities and houses immigrants fleeing violence. . "The campaign to divest from the prison industry is having some success. The California Public Employeesâ Retirement System and the California State Teachersâ Retirement System, the two biggest public pensions in the U.S. with more $600 billion in assets combined, have sold their investments in prison operators CoreCivic Inc. and Geo Group Inc." â "Jim Baker, who leads the Stakeholder Project, said pension funds that invest in firms such as H.I.G. face financial and political dangers that arenât worth the potential return. Loans issued by two prison phone providers, for example, dropped in value to record lows this month amid concerns that the industry might attract greater political scrutiny ahead of next yearâs presidential election. . "In fact, Sen. Elizabeth Warren, whoâs running for the Democratic presidential nomination, signed onto a letter sent at the end of September to a group of private equity firms, including H.I.G., expressing concerns about a business model they say often delivers poor services for high fees to a customer base thatâs literally 'captive.'" â #DecommercializeJustice #PeopleOverProfits #LiberateOurPensions #privateequity https://www.instagram.com/p/B55PmYNlcGu/?igshid=t6bfej8fq1ll










