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The GEO Group, Inc. Message Board

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  • theblueibis theblueibis Jan 28, 2000 6:13 PM Flag

    Illegal contracts in NM? part 1

    They admitted that they (the state) were complicit in the contracts. End of story. Game, set and match to Wackenhut.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Since when does an illegal contract become legal
      just the parties agreed to the terms?
      Back to
      Contracts 101 for you: last time I checked, illegal
      contracts were VOID.

      I post these stories to get
      info to people. You seem to be pretty new to this
      board. Why don't you read a few posts before opening
      your uninformed mouth? I have no idea of the contracts
      are illegal. That's not my point. More bad press,
      more insecurity.

      Game set and match to WHC? Are
      you out of your mind? Take a look at the stock price.
      Sure, the company will probably be fine in the long
      run, but by no means have they won the
      "match".

      The real story here is whether they have lined up the
      fed BOP contracts to come in to the two prisons in
      NM. If WHC can get a similar price to what CCA got in
      CA, it would be in the company's best interest to
      have the NM contracts declared void and sign up with
      the feds.

      CCA got $89.50 per diem in San
      Diego from INS.

      • 1 Reply to mcprison
      • yes, my point being that there won't be any
        significant advantage for the state in this instance. The
        arrangement will continue as defacto until a new contract is
        negotiated. Seems to be more of an internal problem for the
        state and county authorities, than for the company.
        Certainly didn't mean for you to take my response as a
        personal attack. New or not, I've got a right to my
        interpretation, the same as you. And I always read posting
        history as part of my research on an equity before taking
        a position. Sometimes, a person can even find
        worthwhile information. I like WHC very much at this level,
        for a number of reasons that I won't take the tine to
        share with you here. I definitely would not have
        purchased this stock early last year when it was near $30,
        but now... sure! So, sorry you don't agree. I don't
        really care, and... I'll open my mouth anytime I want!


        bye, and have a great weekend

 
GEO
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