Fri, Oct 31, 2014, 10:23 AM EDT - U.S. Markets close in 5 hrs 37 mins

Recent

% | $
Quotes you view appear here for quick access.

Corrections Corporation of America Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • Dreamer79424 Dreamer79424 Jan 18, 1999 1:27 PM Flag

    Anybody read streetcom today??? What doe

    It seems that the correctional world looks to
    Texas for guidance,
    and that much that is
    implemented here is adopted elsewhere.
    However,
    information I received this week may be foreshadowing

    what we may see nationwide. In my last posting, I said
    that TDCJ
    exercises its option to re-bid contracts
    at the annual renewal
    date.

    There are two
    newer, aggressive correctional companies entering

    the management market in a big way. CSC (Correctional
    Services
    Corporation of Florida - formerly Esmor, some
    of you will recall,)
    and MTC (Management and
    Training Corporation of Utah - which had
    many
    government maintenance contracts and Job Corps training

    programs. They are becoming a 'player' particularly in
    youth
    detention centers.)

    Both companies are
    giving CCA/PZN a run for their money. Both also
    seem
    to be heavily capitalized, paying well over assessed
    value for
    facilites and creating what I feel is a
    fiscally dangerous
    situation.

    When you have
    "challengers," who may contact the contracting agency
    (eg
    TDCJ,) stating they can operate more cheaply, you may
    end up with
    fierce competition, and ultimately,
    negotiated contracts which may
    NOT cover expenses.
    Everyone involved could suffer. This is a
    new
    phenomenon. Government will always want the lower price - but
    will
    there be a quality sacrifice? CSC and MTC are "buying"
    their way
    into Texas, and I assume, into other
    states.

    I also heard, from sources within CCA, that they
    plan to walk away
    from all management contracts for
    facilities which they do not
    own. I would love to hear
    comments from message board
    participants about this.
    Do you feel this will impact the bottom
    line in
    the immediate or long term? What I see happening now,
    is
    employee uncertainty, concerns for job security, and a
    condition
    which makes it a "buyer's market." With the
    introduction of new
    agressive players I see market
    instability.

    A comment about inmate rights and treatment: you
    can be
    assured that if we, good-living,
    right-thinking citizens,
    accidentally land in prison, our
    roommates will have been working
    diligently, day and
    night for decades, to ensure we will be well
    cared
    for. The filing of civil rights suits, at taxpayers'

    expense, has been a passtime for numerous convicts over
    time.
    With little rehabilitation and plenty of hours to
    scheme and
    defend their rights, inmates are probably
    the best-protected
    group in the
    US.

    However, we simply have too many non-violent offenders in
    the
    system receiving long sentences. Why should
    we pay between $30
    and $75 per day to
    incarcerate an inmate who received 99 years
    for a rock of
    crack? Or a life sentence for an ounce of

    marijuana?

    I enjoy the message board very much and am anxious
    to hear more]
    from PZN as this merger settles.

 
CXW
36.68+0.19(+0.52%)10:22 AMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.