Wednesday, November 14, 2018

What Are We Supposed To Invest In, Unicorn Farts?

Not in Israel.  Not in firearms.  Not in tobacco.  Not in coal.

And now, not in locking up people who are in the country illegally:
California’s teacher pension fund is pulling its investments out of two private prison companies that have contracts to house immigrants detained at the Mexican border.

The California State Teachers’ Retirement Board last week voted to withdraw about $12 million it had invested in CoreCivic of Nashville, Tennessee and Geo Group of Boca Raton, Florida.

The retirement board’s 6-5 vote Wednesday to divest from the companies followed intense activism from teachers and left-leaning organizations that wanted the $229 billion pension fund to dissociate itself from private prisons.

Their calls for divestment led the pension fund to conduct its own investigation, which it published in a 28-page report that did not include a formal recommendation. CalSTRS staff reported that they visited immigrant detention centers and consulted with the companies before providing their report to the teachers’ retirement board.
Can't invest in anything that makes money. How am I supposed to have a guaranteed retirement benefit if my money can't make money?

2 comments:

Steve USMA '85 said...

Solyndra?

https://www.dailysignal.com/2012/10/18/president-obamas-taxpayer-backed-green-energy-failures/

Mike Thiac said...

Can't invest in anything that makes money. How am I supposed to have a guaranteed retirement benefit if my money can't make money?

Federal taxpayer bailout...