Barclays criticised for underwriting US private prison deal
Published in the Financial Times
Barclays has come under fire from investors and activists for underwriting a debt deal used to finance the construction of two new prisons, to be owned by private prison operator Geo Group. Shortly after this story was published, Barclays informed clients that it was no longer underwriting the transaction.
Yale endowment model architect Hunter Lewis calls time on it
Published in the Financial Times
The famed endowment investment model, which came into existence half a century ago and has redefined how pensions and universities invest their assets, is “backward looking, outdated and worn out,” says Hunter Lewis, the co-founder of Cambridge Associates. He should know — he was one of its architects.
Read more here.
Honest Company’s market debut marks a comeback
Published in the Financial Times
When the Honest Company listed on the Nasdaq exchange on May 4, it was the culmination of a long recovery for the baby and beauty products group co-founded and fronted by the actress Jessica Alba, who spoke to the Financial Times ahead of the IPO.
Read more here.
BlackRock under pressure to live up to its promises on diversity
Published in the Financial Times
BlackRock, the world’s largest asset manager, has billed itself as a champion of diversity on Wall Street. But former and current employees at the firm who spoke to the Financial Times say its commitment to fostering an inclusive and anti-racist workplace has ways to go. After this story was published, BlackRock announced it had hired a law firm to conduct an external review into the discrimination claims.
Stanford endowment chief applies ballet discipline to investment
Published in the Financial Times
Robert Wallace danced with Mikhail Baryshnikov and learned from David Swensen, Yale’s legendary investment chief. Now he’s running one of the U.S.’s largest university endowments himself.
Read more here.
Does divestment work? America’s private prisons suggest so
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Published in the Financial Times
Divestment campaigns are pretty effective at creating media buzz. But most haven’t done what they aimed to do: starve their targets of capital. The latest news about the US private prison sector, however, might be a rather cheering exception that provides some evidence that divestment can work, at least in smaller industries.
Read more here.
I was a forever intern, and here’s what I learned
Published in Vice
Internship culture is out of control. I’ve done 11 of them over the last eight years, most of them in news media. I’ve written copy for 16 cents a line for a local newspaper in Germany, covered campus culture for the Huffington Post for free when I was 20, and picked up packages for colleagues at a Los Angeles-based publisher when I was 22. Along the way, I’ve learned some things that could have saved me the occasional breakdown.
Read more here.
This family is forced to pick who gets to stay insured
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Published on Bloomberg News
The Maldonados’ story is a tale of middle-class Americans juggling family finances. With the ever-present pressure of a mortgage and looming college tuition, many otherwise-financially sound families face a stark choice when health-care premiums shoot wildly higher: Take on debt or opt out of the medical system and hope for the best. The Maldonados’ story is part of Bloomberg’s year-long examination of Americans struggling to afford the rising costs of health care—and the painful financial and medical trade-offs that inevitably follow.
This story was part of a series that won the third place in the consumer/feature (large) category of the Awards for Excellence in Health Care Journalism in 2018.
Read more here.
Amid rising US-EU tensions, China sees an opportunity
Published in Politico
European Union leaders are seething over President Donald Trump’s decision to impose tariffs on imported aluminum and steel, adding to the strain in a strategic alliance already tested by changing U.S. policies and rising populist movements in EU states. Now, with tensions growing in the bloc, an outside player is making its move: China has seized the moment to begin a European charm offensive. From gestures on human rights to support for the World Trade Organization, Beijing is billing itself as a reliable partner and a firm defender of free trade.
Read more here.
In leery South Korea, American missionary couple works for reunification
Published in Religion News Service
Most young adults in South Korea reject the idea of reuniting with North Korea, which has been a separate country since long before they were born. But the minority who crave reconciliation have found in Elizabeth Torrey, and her husband, Ben, partners who believe God’s plan calls for a reunited Korea. In the remote Taebaek mountains of South Korea, the American missionary couple prepares the “unification generation.”
Read more here.
Where military vehicles, bunker supplies and propaganda are facts of life
Published in The GroundTruth Project
This is Tongil Chon, a village a mile away from the most heavily guarded border in the world, the Korean Demilitarized Zone. Nowhere in South Korea is the threat of war with the North more imminent, more physically present than here – but the residents of Tongil Chon, which means “unification village” in Korean, have learned how to keep their calm over the years.
Read more here.