Tag Archives | for profit prisons

For-Profit Prison Corporations Promise Investors “A Growing Offender Population”

for-profit prisonThinkProgress on the rosy outlook from Corrections Corporation of America (CCA) and GEO Group, the nation’s first- and second-largest operators of for-profit prisons:

During a conference call touting its success, representatives at GEO Group boasted that the company continues to have “solid occupancy rates in mid to high 90s” and that they are optimistic “regarding the outlook for the industry,” in part due to a “growing offender population.” GEO Senior Vice President John Hurley assured investors during the call:

We have a longstanding partnership with the Federal Bureau of Prisons, the United States Marshal Service and US Immigration and Customs Enforcement or ICE. … We continue to see meaningful opportunities for us to partner with all three of these federal agencies. The federal bureau of prisons continues to face capacity constraints coupled with a growing offender population.

During its investor call in February, CCA CEO Damon Hininger assured investors a strong “continued demand for beds.”

Read the rest

Continue Reading