posted on Apr, 29 2012 @ 12:04 PM
Well Kali, because your thread here sent me down a different path, I decided to take a closer look behind the curtain of Corrections Corporation of
America. This is a publically traded company on the NYSE, ticker code: CXW. So that right there tells me the company is driven to produce monetary
results for it's major shareholders.
A brief snapshot of the company's profile on Morningstar.com
says this is what the company
publically says it does:
Corrections Corporation of America is the largest owner and operator of correctional and detention facilities in the United States. The firm
operates over 60 facilities and owns more than 40, and holds a capacity of nearly 85,000 beds. The company also provides inmate residential and
transportation services for government agencies. Additionally, the firm offers rehabilitation and educational services.
Bold emphasis mine
there. Interesting, eh? Ok... moving on.....
My next question was what investment firms actually own stock in CXW? What I found admittedly sort of surprised me. According to
the top investor is a firm out of the UK, Sarasin & Partners hold the most stock @ $79.55
million USD which has me wondering just why a UK firm is so heavily invested in privatized US prisons. The second largest investor is a world wide
investment firm with offices globally by the name of Wellington Management Firm @ $61.79 million. The 3rd largest investor is also a UK company
called the London Company @ $55.38 million. It's not until we get to the 4th and 5th largest investors that we actually see US firms getting into
What I fully expected to see as investors were companies like JP Morgan Chase, Goldman-Sachs, BofA... companies of that ilk.
2 US pension fund managers of note who have also invested in Corrections Corp. of America are NY State Common Retirement Fund @ $9.3 million and...
TIAA-CREF @ $9.28 million..... yes... TIAA-CREF the goody goody touchy feely group who helps fund all those PBS shows and according to their own
website holds this as part of their mission statement:
TIAA-CREF website source
This globally integrated approach seeks to influence positive social change in the
countries and communities in which we invest while helping our clients achieve their goal of a safe and secure retirement.
Ummm, come again? "influence positive
social change in the countries and communities in which we invest"???? Riiiight....