Los Angeles billionaire Tom Gores has been the target of activists since his private equity firm bought a prison telephone company accused of ripping off inmates and their families. The controversy was enough to lose him a prospective $100-million pension fund investment — and now he’s found himself dragged into the Democratic presidential campaign.
who claim providers of prison services are making big profits off disproportionately poor and minority inmates and their families.“What is important about the step Sen. Warren and the others took is that it expanded the conversation beyond just private prisons into this conversation about the prison-industrial complex,” said Bianca Tylek, founder ofSen. Elizabeth Warren has made reforming Wall Street a central theme of her campaign.
Last month, the Pennsylvania State Employees’ Retirement System declined to make a $100-million investment in Platinum’s latest fund after a campaign by activists, who have been pressuring pension funds, saying that increased scrutiny of private equity firms with prison industry holdings makes them risky investments. They also cited Platinum’s stake in a student debt collector.
This headline makes no sense and is open to some weird interpretation . Even having now read the article the headline still confuses
That is a remarkably inapt, confusing headline