Very enlightening post... I now have a better understanding of why the stock price is so low relative to the published fundementals.
In all fairness, some similar problems have occurred at the state prisons here in California. At two state prisons which house "problem inmates", there have been charges of arranged "gladiator" fights. There have also been numerous charges of prisoner mistreatment by guards. I can not remember reading anything about problems in juvenile centers, however.
And yes, your're absolutely right about the problems in CA public prisons. In fact, the US Attorney's Office is in federal court right now in Fresno prosecuting 8 guards for the "gladiator" stuff.
It looks like they will all be acquitted, though. Tough to convict cops in CA's Central Valley for killing a gang-banger rapist from Los Angeles.
Again, my post was not meant to be fair. It was meant to provide information. One can point the finger to the public sector and say the public is doing this or that as well, so what's the big deal? Problem with that is the public doesn't need investors to keep operating.
If a private firm screws up, they can lose their contract, stock value and investor confidence. Although this may be "unfair" if the public prison screws up, changes may be forced on the public department, but chances are the inmates won't be going anywhere.
none of our posts are actually "fair", and that is the point that I have been trying to make, we will be hammered, justified or not. We are in a very tenuous position here as stockholders....do we stay with a company who has grown too fast, or do we bail, or do we stay with a system that has inherent risks that chooses to go to areas with troubled waters, such as New Mexico, Texas (Ruez),Louisiana(Federal oversight in juvenile facilities prior to WCC)......Give Zoley credit he has not picked the cheesecake for starters!!
But, unfortunately, we stockholders suffer......there is more to come!!!!!And you saw it here first!