This launched the Corrections Corporation of America (CXW), currently the largest
private prison company in the United States.
Corrections Corporation of America, the largest and most powerful
private prison company in the nation, lost four prison contracts in the past month after extensive reports of abuse, neglect, and even fraud within their operations.
Not exact matches
And within a span of six weeks this fall, Hillary Clinton caused a drop
in biotech stocks with a tweet calling for greater regulation of drug prices, then single - handedly tanked stocks of
private - corrections
companies when she tweeted about
prison reform.
CCA directed me to a 2013 report — funded
in part by the
company and GEO — that claimed
private prisons could save states as much as 59 percent over public
prisons without sacrificing quality.
CoreCivic, one of the largest U.S.
private prison companies, has shelved a proposal to build a detention facility for undocumented migrants
in Indiana after a series of community protests.
Not just for construction
companies but for such
private enterprises as the Corrections Corporation of America, a Tennessee - based
company that is leading the way
in the exorbitant campaign to turn all
prisons over to
private enterprise.
Euphemistically called a «secure college» the proposed facility is,
in reality, an enormous new
prison built to save costs by warehousing children and contracting out its running to
private sector
companies such as Serco and G4S.
On June 8, City Comptroller Scott Stringer announced that the city had liquidated around $ 48 million
in stocks and bonds related to three
private prison companies.
Stringer then directed investment managers to liquidate all investments
in companies that derive at least 20 percent of their revenue from
private prisons, including both direct investments and stock owned as part of an index fund.
The G4S Olympics debacle, when the army had to step
in and provide additional security staff, added to the concerns about the capability of
private companies to run
prisons safely.
The decision was strongly criticised by the unions, as was the decision to allow
private companies to run the two new build
prisons, HMP Oakwood and HMP Thameside which opened
in Spring 2012.
Comptroller Scott Stringer said Thursday that New York City's pension funds had divested its investments
in private prison companies, calling it the first such move by a major U.S. city.
When America's largest
private prison company opened a 2,000 - bed facility
in a barren stretch of the Mojave Desert
in southeastern California
in
Private prison companies spent nearly $ 3.5 million on federal lobbying
in 2017, according to the Center for Responsive Politics.
There are several tailwinds that could propel
private prisons to new heights:
private correctional facilities house only a fraction of all inmates
in the United States and the world, state and federal governments are more willing than ever to outsource
prison management to a
private company, and the number of incarcerated people continues to grow at a rate faster than the general population.