There's never any empty beds in CCA Arizona. CCA shuffles prisoners around to keep AZ beds full at the highest rate, with U.S. Marshall's, Alaska, etc. They move the lower paying inmates to states with lower costs, like Oklahoma and Mississippi, where they don't have competition-driven wages.
7,500 empty beds in a corporation that says they need 95% occupancy to make a profit should give a dire warning.
Just out of curiosity, why are you so down on this company? I'm sure you don't own any stock based on your posts.
Were you burned badly on the stock like many of us old-timers?
Are you just anti-privatization?
Nothing wrong with your comments, but they could be somewhat biased. For example shifting inmates around may be good strategy or it may be bad strategy. Having available beds could be a burden, as in the past, or it could be a huge opportunity. Seems like CCA is surving the availability of these beds.
Kudo's MK for the question you asked Indian. I have been just as biased for the pro private side. I get hot under the collar when a group of anti-private or pro-private make a case based solely on the pro or anti campaigns. It is all about people. I have and will continue to invest in this company because of its leadership. Thanks for the post.
Not holding this stock currently. I thought about taking a short position when they had riots in the same week in July in Mississippi and Colorado. They had another bad month in September when a Kentucky operation imploded. Kentucky just recommended a $10,000 fine, down from $384,000 in Colorado.
If I had held this in '98 I'd be working as a Wal-Mart greeter now. It's off over 90% from then, not controlling for inflation.