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.

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