This one is a gonner. Get a clue - they're releasing prisoners - the prison state has peaked. Good luck converting these facilities to shop space and low income apartments - maybe after Armageddon.
It's difficult to be a good investor if you panic at every crazy idea. It seems very doubtful that Sanders can end private prisons. We need private prisons for a reason. Sanders has made about 1000 other promises of higher priority that he won't be able to keep , if he's elected Pres. Heaven forbid. He'll never even get around to his "ending private prison" pledge. I would not worry. I would buy more GEO at these prices. Way oversold. A great REIT.
The plan does not indicate the prisons in the United States under consideration to transfer detainees, Pentagon press secretary Peter Cook said in a statement.
CXW isn't dropping like this. There might be some company specific news (death, director leaving, etc). This definitely has nothing to do with CNBCs hit piece on private prisons this am.
This could also be as simple as one of the hedgies who love to play this and CXW dumping a large volume into the runup of the last week.
How many billions would that cost?
The WSJ has Bernie's wasteful spending plans costing north of $17 TRILLION.
A DEA officer stops at a ranch in Texas, and talks with an old rancher. He tells the rancher, “I need to inspect your ranch for illegally grown drugs.” The rancher says, “Okay, but do not go in that field over there,” as he points out the location. The DEA officer verbally explodes saying, “Mister, I have the authority of the Federal Government with me.” Reaching into his rear pants pocket, he removes his badge and proudly displays it to the rancher. “See this badge? This badge means I am allowed to go wherever I wish, on any land. No questions asked or answers given. Have I made myself clear? Do you understand?”
The rancher nods politely, apologizes, and goes about his chores.
A short time later, the old rancher hears loud screams and sees the DEA officer running for his life chased by the rancher’s big Santa Gertrudis bull! With every step the bull is gaining ground on the officer, and it seems likely that he’ll get gored before he reaches safety. The officer is clearly terrified. The rancher throws down his tools, runs to the fence and yells at the top of his lungs… “Your badge. Show him your BADGE!”
The contracts are long term not based on prison population (filled beds) What, me worry? Not at all....as the economy weakens, many desperate jobless people will continue as criminals. I watched a 14 yr old gang member interviewed on Dr. Phil yesterday.....his job for the gang was being a drug sales mule to the customer, and robbing people. He described this activity as his job to make money.....$300 to $500 a week. He is a near future customer, and hundreds of other's like him in every major city just like this POS punk.
Let GEO run Guantonimo! They run a tight ship! They will keep the jihadis under lock and key, and the jihadis will actually enjoy their incarceration experience.
screw Obama... Gitmo is a strategic facility necessary for the security of the US. The hell with this psychotic, pathological lying sociopath
LOL, did you forget, jlysaght that the Right Wingnuts have been clamoring to for Obama to close Gitmo for near 7 years?