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LOS ANGELES (AP) — The tributes that poured in following Wayne Kramer's death last week came from musicians praising the MC5 guitarist's contributions to rock music, as well as from prison reform advocates who extolled his legacy of bringing music to incarcerated people. “Working with inmates was cathartic for him because music had saved his life when he was inside,” Heath said this week. Kramer eventually delivered testimony before a joint committee on the arts, along with actor Tim Robbins and others. “Wayne just gave this moving speech about how important it was to have music and arts in prisons,” said Bowers, who's now a mentor at the William James Association Prison Arts Project. The state provided $1 million in 2014, and the prison arts budget has since been increased to $8 million, he said.

Persons: Wayne Kramer's, Kramer, Tom Morello, Wayne, ” Kramer, Morello, Slash, Perry Farrell, Jason Heath, ” Heath, Larry Brewster, “, Elida Ledesma, ”, Joseph Jimenez, ” Jimenez, " Jimenez, ” Jack Bowers, Tim Robbins, “ Wayne, Bowers, who's, William James, Heath, they're, they’re, they’ve, He's Organizations: ANGELES, Mojo, University of San, for Healing, Justice Network, Community Arts, Outreach Center, William, William James Association Prison Arts, Outreach Locations: California, Michigan, University of San Francisco, Hollywood, lockups

ATLANTA (AP) — A bill to require cash bail for 30 additional crimes is headed to Georgia Gov. The GOP-dominated House voted 97-69 for Senate Bill 63 on Monday, backing a measure that would erodes changes that Republican Gov. “This legislation will make it clear that Georgia is not going down the path of failure seen by other states and communities that have eliminated cash bail," Gaines said. It’s part of a push by Republicans nationwide to increase reliance on cash bail, even as some Democratic-led jurisdictions end cash bail entirely or dramatically restrict its use. Under the bill, bail would be required for a second or later misdemeanor offense of reckless driving or criminal trespass, as well as for any misdemeanor battery.

Persons: Brian Kemp's, Bill, Nathan Deal, Houston Gaines, Gaines, ” It’s, Tanya Miller, Miller, “, Chris Carr, Brian Kemp, Kemp Organizations: ATLANTA, Georgia Gov, GOP, Republican Gov, Rep, Athens Republican, Georgia’s county lockups, Atlanta Democrat, Democratic, Atlanta Locations: Georgia, Athens, Georgia’s county, Atlanta, Illinois, Wisconsin

☆ A California hedge fund's noncompetes drew outcry from employees. Now, it's doing away with the practice for former staffers.
▼ + stars: | 2023-10-15 | by ( Alex Morrell | ) www.businessinsider.com time to read: +4 min

California quantitative hedge fund The Voleon Group is abandoning its controversial practice of demanding that ex-employees recuse themselves from the industry for two years without pay. The $5 billion fund, based in Berkeley, California, has long imposed one of the industry's harshest noncompetition agreements despite California lawmakers' efforts to eliminate the practice. Insider last week reported on Voleon's noncompete policies, which the company has at times tried to enforce using intimidation and legal threats, ex-employees told Insider. "I don't know anyone who hasn't signed," a former employee previously told Insider, adding that Voleon managers encouraged employees to sign the agreement. A Voleon spokesman previously told Insider: "Like most hedge funds, in order to protect its most sensitive intellectual property, Voleon requests that select employees sign noncompetition agreements."

Persons: they'd, Lee Koffler, hasn't, Voleon, that's, — Organizations: Company, Voleon, Labor Locations: California, Berkeley , California, York

REUTERS/Quinn GlabickiA White House spokesperson said Biden "continues to support moving away from the use of private detention facilities in the immigration detention system." One facility evaluated as part of the Biden administration review was Stewart Detention Center, a Georgia lockup operated by the private prison company CoreCivic (CXW.N). The administration has scaled back immigration detention in some ways. ICE often pays to maintain a fixed number of beds at detention centers regardless of whether they are actually used. But just six months later, the company signed a contract to reopen the same complex as a 1,900-bed immigration detention center.

Persons: Quinn Glabicki PHILIPSBURG, Joe Biden, watchdogs, Alejandro Mayorkas, Biden, Donald Trump, Mayorkas, lockups, Quinn Glabicki, Stewart, Ryan Gustin, Winn, Quinn Glabicki Ruben Dario, didn't, Ryan Horvath, Richwood, BIDEN, Trump, Biden's, Jose Gordo, Angela Kelley, Kelley, Boy Sonkarlay, Erika Guadalupe Nunez, Ted Hesson, Mica Rosenberg, Kristina Cooke, Aurora Ellis Organizations: Processing, GEO Group, U.S . Immigration, Customs, REUTERS, Democratic, Immigration, Customs Enforcement, Biden, American Civil Liberties Union, ACLU, Reuters, ICE, Companies, Republican, Trump, White, U.S . Department of Homeland Security, Stewart Detention, Winn Correctional Center, LaSalle Corrections, Richwood Correctional, LaSalle, Reuters Graphics Reuters, BI, ICE Processing Center, GEO, Visitors, Thomson Locations: Philipsburg , Pennsylvania, U.S, Pennsylvania, Mexico, Georgia, Louisiana, Mississippi, LaSalle, Argentine, Spanish, California, Liberian, Philadelphia, Philipsburg, Washington, New York

☆ Jump Trading's top executive in Europe is leaving the systematic trading firm
▼ + stars: | 2023-06-18 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Jump Trading exec Peter Deaner is leaving the systematic trading firm, people familiar with the matter said. Senior executive departures are relatively uncommon at the press-shy trading firm. Jump Trading Group's top executive in Europe is leaving the systematic trading firm after more than a decade. "Pete will be retiring from the industry in 2024, moving on from Jump Trading roughly at the end of Q1," the spokesperson told Insider in an email. Jump Trading International, the London-based subsidiary of the Chicago trading firm, has grown substantially since Deaner joined in the summer of 2012.

Persons: Peter Deaner, Deaner, Pete, Damien Couture, Verition, lockups Organizations: Companies, Couture, Bloomberg Locations: Europe, London, Chicago

☆ As Trump Org's jail-bound ex-CFO testifies, Harvey Weinstein's prison consultant is watching
▼ + stars: | 2022-11-17 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Jail-bound Allen Weisselberg, Trump's ex-CFO, is testifying in the Trump Org tax-fraud trial. Harvey Weinstein's prison coach, Craig Rothfeld, is sitting with the ex-CFO's lawyers, watching. Clearly still loyal to Trump, his boss since the mid-'80s, Weisselberg has been doing a delicate dance on the witness stand. If he displeases prosecutors, the 75-year-old accountant could find himself serving a state prison term. Prosecutors, though, must prove that Weisselberg intended this benefit to the company, something he has yet to say.

The initial public offering of the ride-hailing-to-online-shopping giant at a $28 billion market capitalisation in April was a landmark deal on the back of relaxed listing rules. Now GoTo will have to manage a big contortion in the $570 billion stock market. At a stretch, GoTo’s involvement might prevent a further price slump on the company’s current $15 billion market value. The company sold nearly $1 billion of stock at a multiple of 17 times forecast revenue for 2023. The meddling in the secondary market looks like a necessary evil.

☆ Fear and loathing on Wall Street: Inside the paranoid, hyper-competitive onslaught to prevent quant traders from defecting to rivals
▼ + stars: | 2022-07-31 | by ( Alex Morrell | ) www.businessinsider.com time to read: +23 min

Current and former employees at prominent quant trading operations spoke to Insider anonymously for this story, citing fear of legal reprisals. "At the NSA, the penalty for leaking is twenty-five years in prison," Simons liked to tell employees, according to Gregory Zuckerman's book "The Man Who Solved the Market." In the early 2000s, quant noncompetes were narrower and shorter — six to nine months was industry standard, quant recruiters who had to navigate these obstacles told Insider. But it has aggressively pursued employees it believes have crossed the firm, according to court filings and media reports. Absent such changes, quant noncompetes will likely continue to proliferate with little resistance from employees.

Persons: Ken Griffin, they'd, It's, Matt Moye, they've, David Marshall, Jim Simons, George Soros, John Paulson, Philip Falcone, Jonathan Ernst, RenTech, Simons, Gregory Zuckerman's, Moye, quant, Pavel Volfbeyn, Alexander Belopolsky, spooked, Eric Wepsic, Shaw, —, Izzy Englander, Rick Wastrom, Smith Hanley, Jane Street burgeoned, Peter Friedman, Brennan Hughes, Griffin —, They've, Friedman, Chase Lochmiller, Ray Dalio, Jane Street, Hughes, Samuel Estreicher, Estreicher, I'm, David, Wastrom, Marshall, noncompetes Organizations: Citadel Securities, Renaissance Technologies, Citadel, St John's Law School, Center for Labor, Employment, REUTERS, NSA, Fund, RenTech, Millennium Management, Millennium, D.E, Trading, Integra Advisors, Wall, Google, Sigma, Polychain, Getty, Bridgewater Associates, National Labor Relations Board, Schonfeld Strategic Advisors, Group, New York University, school's Center for Labor, John's Law, —, New Locations: America, Bridgewater, New York, Hudson, Riker's Island, Houston, Chicago, Connecticut, — California, St, New York , Illinois

☆ New Orleans battled mass incarceration. Then came the backlash over violent crime.
▼ + stars: | 2022-07-06 | by ( Jamiles Lartey | The Marshall Project | Jamiles Lartey Is A New Orleans-Based Staff Writer For The Marshall Project. | ) www.nbcnews.com time to read: +9 min

candidates before him, he appealed to a kind of economy of justice: that spending less time on minor crimes, and on things that shouldn’t be crimes, would give prosecutors more time and resources to tackle violent crime. Reflecting on his first 17 months in office, Williams made sure to mention a slew of recent convictions in nearly the same breath as his efforts toward reform. He recognizes that violent crime is up, and that his office is responsible for addressing it. Williams’ office argued Mitchell had been unfairly denied a chance at parole. The Metropolitan Crime Commission, a nonprofit that publishes weekly city crime data and has been critical of Williams, found that in 2021, 74% of violent felony cases were resolved this way.

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