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29 Dec 2015

Chris Isidore and Robert Mclean, CNN (USA)

University of California dumps private prison stocks after student protests

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Student activists won a victory by convincing the University of California to dump nearly $30 million in stock in for-profit prison companies... The university said its chief investment officer met with the students, but it insisted it made the move based on the risk posed by the shares and not pressure from the students... 

In response to the UC divestiture, the companies defended their industry. They said they don't lobby for the criminal justice policies that determine how long prisoners are incarcerated and provide academic and vocational classes to prisoners. "By appearing to bow to activist demands the [divestiture] decision represents a missed opportunity for honest and thoughtful dialogue around corrections systems, the role of our industry and the distinction between rhetoric and reality," said CCA spokesman Steve Owen.

[also refers to Wells Fargo]