Troubled companies made him billions. But this one made him enemies

Gores is being targeted by activists who are demanding reforms at Securus and have even pressed pension funds to stop investing in his Platinum Equity buyout firm.

Platinum says it has begun reforms at the suburban Dallas telecom, replacing top management and reducing already declining phone rates by 14% in the last year to an average of 15 cents per minute, inclusive of all fees. Gores also said that his investment was not predicated on expensive calls, since rates were already coming down given the “public discussion” about them.

The company is making profits, the investment company — Platinum — is making profits and then you have the states and counties that are turning this into a revenue source.With annual revenue of nearly $700 million, Securus is the second-largest prison telecom by market share, serving 3,400 correctional facilities and handling some 240 million calls last year. It also charges some of the highest rates,by the Prison Policy Initiative, which surveyed more than 2,000 local jails in 2018.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves midday: Box, Tyson Foods, Michaels, Navistar & moreCheck out the companies making headlines in midday trading. Guy with half a beard here. Have you seen Lyft stinks lately?
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves midday: Mallinckrodt, Facebook, Slack, Nordstrom, GM & moreCheck out the companies making headlines in midday trading. Good I wonder how many of those CEOs paid $0 in taxes? Because we are going to have to pay their taxes...14,2 trillion dollars in consumer debt and 21 trillion dollars in the national debt that's a combined debt of 35.2 trillion dollars people that we owe Stocks Moving?
Source: CNBC - 🏆 12. / 72 Read more »