Showing posts with label Prison Industry. Show all posts
Showing posts with label Prison Industry. Show all posts
December 10, 2016
November 18, 2016
Wall Street and Private Prisons 'Licking Their Lips' Over Trump Presidency
Wall Street and Private Prisons 'Licking Their Lips' Over Trump Presidency
"A new report from the research organization In the Public Interest (ITPI) highlights the banks that finance the private prison industry—and with a Trump administration on the horizon, they could be in for a windfall. Six banks have played a major part in bankrolling the two largest private prison firms, CoreCivic (formerly the Corrections Corporation of America) and the GEO Group: Wells Fargo, Bank of America, JPMorgan Chase, BNP Paribas, SunTrust, and U.S. Bancorp, according to the ITPI's report, The Banks That Finance Private Prison Companies. CoreCivic and GEO Group use the banks' financing—which comes in the forms of loans, bonds, and credit—to buy up smaller companies that conduct residential reentry and sell ankle monitors for border agents to place on detained asylum seekers. That has allowed the two corporations to quietly monopolize the corrections and immigration enforcement industries. The banks, meanwhile, profit by collecting fees and interest on those loans, or investing their clients' money in the corporations' shares. At the end of June 2016, CoreCivic and GEO Group were $1.5 billion and $1.9 billion in debt, respectively. Activists and lawmakers have long criticized the privatization of the prison industry and its partnership with Wall Street."
"A new report from the research organization In the Public Interest (ITPI) highlights the banks that finance the private prison industry—and with a Trump administration on the horizon, they could be in for a windfall. Six banks have played a major part in bankrolling the two largest private prison firms, CoreCivic (formerly the Corrections Corporation of America) and the GEO Group: Wells Fargo, Bank of America, JPMorgan Chase, BNP Paribas, SunTrust, and U.S. Bancorp, according to the ITPI's report, The Banks That Finance Private Prison Companies. CoreCivic and GEO Group use the banks' financing—which comes in the forms of loans, bonds, and credit—to buy up smaller companies that conduct residential reentry and sell ankle monitors for border agents to place on detained asylum seekers. That has allowed the two corporations to quietly monopolize the corrections and immigration enforcement industries. The banks, meanwhile, profit by collecting fees and interest on those loans, or investing their clients' money in the corporations' shares. At the end of June 2016, CoreCivic and GEO Group were $1.5 billion and $1.9 billion in debt, respectively. Activists and lawmakers have long criticized the privatization of the prison industry and its partnership with Wall Street."
February 2, 2016
Infographic: How Private Prison Companies Rake In Profits From Our Criminal Legal System
http://www.truth-out.org/news/item/34578-how-private-prison-companies-rake-in-profits-from-our-criminal-legal-system
"While the usual suspects - Corrections Corporation of America (CCA) and GEO Group - operate prisons, numerous companies with similar track records provide services like health care, food provision and prisoner transport. Companies like Corizon, Aramark, JPay and GTL have histories of providing low-quality services, harming not only prisoners, but communities and taxpayers as well. We already know that the industry routinely cuts corners to make more profit, resulting in prison violence, lawsuits, accidental releases and high staff turnover."
"While the usual suspects - Corrections Corporation of America (CCA) and GEO Group - operate prisons, numerous companies with similar track records provide services like health care, food provision and prisoner transport. Companies like Corizon, Aramark, JPay and GTL have histories of providing low-quality services, harming not only prisoners, but communities and taxpayers as well. We already know that the industry routinely cuts corners to make more profit, resulting in prison violence, lawsuits, accidental releases and high staff turnover."
November 18, 2014
Arizona education update: We've elected 'Evan Mecham on steroids'
http://www.dailykos.com/story/2014/11/09/1343423/-Arizona-education-update-We-ve-elected-Evan-Mecham-on-steroids
"Arizona has a billion-dollar deficit and is not attracting quality employers, who complain that we don't produce an educated workforce (graduation rate: 43rd). Over the last decade Arizona's nitwit legislature, whose DNA is very anti-education, has cut school budgets more than any other state, while they increased prison funding 75 percent, to the point we now spend 40 percent more on prisons than schools."
"Arizona has a billion-dollar deficit and is not attracting quality employers, who complain that we don't produce an educated workforce (graduation rate: 43rd). Over the last decade Arizona's nitwit legislature, whose DNA is very anti-education, has cut school budgets more than any other state, while they increased prison funding 75 percent, to the point we now spend 40 percent more on prisons than schools."
July 26, 2014
July 23, 2014
May 2, 2014
Skyrocketing Prison Population Devastating US Society: Report | Common Dreams
Skyrocketing Prison Population Devastating US Society: Report | Common Dreams
"Impacted communities have long slammed U.S. policies of mass incarceration that are locking up more people than any other country in the world. Now that criticism is also resounding from the highly-regarded National Research Council (an arm of the National Academy of Sciences), which issued a devastating report this week charging that "unprecedented" levels incarceration is spreading great social harm."
"Impacted communities have long slammed U.S. policies of mass incarceration that are locking up more people than any other country in the world. Now that criticism is also resounding from the highly-regarded National Research Council (an arm of the National Academy of Sciences), which issued a devastating report this week charging that "unprecedented" levels incarceration is spreading great social harm."
April 18, 2014
December 27, 2013
For-Profit Prisons: Eight Statistics That Show the Problems
For-Profit Prisons: Eight Statistics That Show the Problems
"States sign agreements with private prisons to guarantee that they will fill a certain number of beds in jail at any given point. The most common rate is 90%, though some prisons are able to snag a 100% promise from their local governments. Because of these contracts, the state is obligated to keep prisons almost full at all times or pay for the beds anyway, so the incentive is to incarcerate more people and for longer in order to fill the quota."
"States sign agreements with private prisons to guarantee that they will fill a certain number of beds in jail at any given point. The most common rate is 90%, though some prisons are able to snag a 100% promise from their local governments. Because of these contracts, the state is obligated to keep prisons almost full at all times or pay for the beds anyway, so the incentive is to incarcerate more people and for longer in order to fill the quota."
November 26, 2013
How Wall Street Turned America Into Incarceration Nation | Alternet
How Wall Street Turned America Into Incarceration Nation | Alternet
"The U.S. leads the world in prisoners with 2.27 million in jail and more than 4.8 million on parole. Minorities have been especially hard hit, forming 39.4% of the prison population, with one in three black men expected to serve time during their lifetimes.
"The U.S. leads the world in prisoners with 2.27 million in jail and more than 4.8 million on parole. Minorities have been especially hard hit, forming 39.4% of the prison population, with one in three black men expected to serve time during their lifetimes.
How is it that our land, supposedly the beacon of freedom and democracy for the rest of the world, puts so many of its own people into prison?"
September 23, 2013
6 Shocking Revelations About How Private Prisons Make Their Money | Alternet
6 Shocking Revelations About How Private Prisons Make Their Money | Alternet
"Imagine living in a country where prisons are private corporations that profit from keeping their beds stocked at, or near, capacity and the governing officials scramble to meet contractual “lockup quotas.” Imagine that taxpayers would have to pay for any empty beds should crime rates fall below that quota. Surprise! You already live there."
"Imagine living in a country where prisons are private corporations that profit from keeping their beds stocked at, or near, capacity and the governing officials scramble to meet contractual “lockup quotas.” Imagine that taxpayers would have to pay for any empty beds should crime rates fall below that quota. Surprise! You already live there."
September 20, 2013
Lockup Quotas Help For-Profit Prison Companies Keep Profits High and Prisons Full
Lockup Quotas Help For-Profit Prison Companies Keep Profits High and Prisons Full
"For-profit prison companies like Corrections Corporation of American and GEO Group are no strangers to controversy. Their business model rests on incarceration, and their profits soared throughout the 1990s and 2000s as harsh sentencing laws, the War on Drugs, and tough immigration enforcement led to a dramatic rise in detention and incarceration. But with crime rates dropping for more than a decade and a new push for sentencing reform and cost-effective alternatives to incarceration, for-profit prison operators have found a new way to keep beds full and profits high. They call them "bed guarantees"."
"For-profit prison companies like Corrections Corporation of American and GEO Group are no strangers to controversy. Their business model rests on incarceration, and their profits soared throughout the 1990s and 2000s as harsh sentencing laws, the War on Drugs, and tough immigration enforcement led to a dramatic rise in detention and incarceration. But with crime rates dropping for more than a decade and a new push for sentencing reform and cost-effective alternatives to incarceration, for-profit prison operators have found a new way to keep beds full and profits high. They call them "bed guarantees"."
How Private Prison Firms Use Quotas To Fill Cells And Coffers
How Private Prison Firms Use Quotas To Fill Cells And Coffers: A record number of lawmakers may be calling for shorter sentences and less people in prison. But in the prison industry, contracts with states and local jurisdictions commit them to filling private prison beds — or pay them to keep those beds empty.
September 19, 2013
Sneaky Ways For-Profit Prisons Steal Taxpayer Money
Sneaky Ways For-Profit Prisons Steal Taxpayer Money
"Is there a clearer example of why services which the government should be providing should not be privatized? What happens when charter schools start negotiating with school districts for seat guarantees after they fail to perform up to standards, for example? Taxpayers are paying for substandard services because profits matter more to these corporations than the service they're providing."
"Is there a clearer example of why services which the government should be providing should not be privatized? What happens when charter schools start negotiating with school districts for seat guarantees after they fail to perform up to standards, for example? Taxpayers are paying for substandard services because profits matter more to these corporations than the service they're providing."
August 14, 2013
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Corporate America's New Profit Center: Put as Many People in Jail as Possible | Alternet
Corporate America's New Profit Center: Put as Many People in Jail as Possible | Alternet
"Turning unemployed Americans into very profitable prisoners is a booming business."
"Turning unemployed Americans into very profitable prisoners is a booming business."
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