A billionaire could lose LACMA board seat over his prison phone investment

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L.A. private equity titan Tom Gores is facing an ouster campaign for his LACMA board seat over his firm's investment in a prison telephone service.

of BlackRock chief executive Larry Fink from that city’s Museum of Modern Art board over the investment firm’s reported stakes in private prison operators GEO Group and CoreCivic.

Platinum specializes in turning around troubled companies, and earlier this year it announced that it had brought in new management and. They included a bigger commitment to providing education and reentry opportunities to inmates while working with corrections agencies to bring down fees and rates, including elimination of the highest “legacy outlier rates.”

“There’s a lot that we’ve done, and I’m incredibly humbled by the amount that remains to be done,” said Abel, who said the company’s for-profit business model is what provides the capital for additional services such as educational opportunities, secure computer tablets and licensed entertainment.

 

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selltheteam

Locking people up in the USA is a very profitable investment.

Billionaire problems

Private prisons are a completely insane idea, time to start dismantling this bizarre model one brick & billionaire prick at a time.

Good.

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