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Council Majority: Cincinnati Pension Board Should Drop Private Prisons From Stock Portfolio

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At least five Cincinnati Council members, with the support of Mayor John Cranley, say the city shouldn't have pension funds invested with companies that own or operate private prisons.

The council members are asking the pension board to report back within 45 days on a divestment plan for the stock holdings in three separate companies.

Council Member P.G. Sittenfeld says the pension fund has 598,137 shares worth $2,535,965 with CoreCivic, GEO Group and G4S.

Council members in a motion say it's wrong for public money to support an industry that makes money by locking people up.

The city's pension board has the final say on investments. The board has nine members, four of which are appointed by the mayor with council's approval. The other five are elected by active members and pensioners in the retirement system.

Here's the motion asking for a divestment plan:

Jay Hanselman brings more than 10 years experience as a news anchor and reporter to 91.7 WVXU. He came to WVXU from WNKU, where he hosted the local broadcast of All Things Considered. Hanselman has been recognized for his reporting by the Kentucky AP Broadcasters Association, the Ohio Society of Professional Journalists, and the Ohio AP Broadcasters.