Stan O’Neal from Merrill Lynch scored with the housing bubble at the perfect time, bailing out before the crash in a golden parachute worth $161 million dollars. 20 other chief execs topped the $100 million dollar golden parachute club.
Here is my bet for the sector most likely to produce the next member of that special club.
There is an opportunity in America right now to truly knock the cover off of the ball. It combines all the pulse pounding exhilaration of emerging market investing with the sweet sweet smell of truly desperate workers.
Workers who are not covered by labor laws: Forget about pensions, forget about health benefits, and forget about minimum wage.
I am talking totally captive labor pool…that is growing each and every year with the tacit support and enforcement by the US government.
Are you ready? Have you released the locks on your mind and opened your heart so that we can cross the threshold and enter into financial nirvana?
What is this golden nectar found within this golden sector? Prisons and prison labor!
There are more than 6 million Americans under custodial supervision…Let’s put that in perspective for just a second: that is more than Stalin had in his gulags and they are available to worky worky for cheapie cheapie…
And there is a potentially limitless supply of new labor being brought into prisons every day. And the for profit prisons offers some of the best returns possible. If you pay the right judges, like those two justices in Pennsylvania, you can get them to send you young fresh workers every day. And then once you have them within your private, corporate run prison it’s really easy to keep extending their stay there on any kind of “infraction.”
At .22 Cents an hour, I am comfortable with that.
This is the exciting new frontier for multi-national corporations looking to do business in America.
American Express and GE have been investing in the construction of private prisons and let me tell you prison construction is booming! More prisons, more prison labor.
US Technologies Corp. took a pioneering step, like Daniel Boone blazing a trail through the Appalachians, when they fired their workers and closed their factory in Texas only to reopen it 6 weeks later…inside the nearby prison.
The cat is out of the bag now…we are talking the next gold rush…And we need a Gold Rush if we want our golden parachute.
