The market for shopping out immigrants and criminal aliens has peaked. There's no dough to keep that bandwagon going. Meanwhile, Civiletti bails, big time. What's up? Corporate fraud? No smoking gun, but you can smell the powder.
Change in Directors or Principal Officers, Financial Statements and Exhibits
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
In a letter dated November 12, 2004, Benjamin R. Civiletti resigned from the board of directors of The GEO Group, Inc. ("GEO"). Prior to his resignation from GEO's board, Mr. Civiletii was the Chairman of the GEO board's Nominating and Corporate Governance Committee, and a member of the GEO board's Audit & Finance Committee, Operations and Oversight Committee and Independent Committee.
In his resignation letter, a copy of which is attached as Exhibit 99.1 to this Form 8-K, Mr. Civiletti stated that while the "leadership, hard work, and vision of [Mr. George C. Zoley, GEO's Chairman and CEO] over the past decade have been outstanding," he has "not agreed with the recent positions of management." Mr. Civiletti did not provide any additional reasons for his resignation and GEO does not think it would be appropriate to speculate on any such reasons.
GEO will provide Mr. Civiletti with a copy of the disclosures it is making in response to this Item 5.02 no later than the date that this Form 8-K is filed with the Securities and Exchange Commission. GEO will provide Mr. Civiletti with the opportunity to furnish GEO, as promptly as possible, with a letter addressed to GEO stating whether he agrees with the statements made by GEO in response to this Item 5.02 and if not, stating the respects in which he does not agree. Upon the receipt of any such letter from Mr. Civiletti, GEO will file the letter as an exhibit by an amendment to this Form 8-K, no later than two (2) business days following its receipt.
Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits. (c) Exhibits 99.1 Letter from Benjamin R. Civiletti to Dr. George C. Zoley, dated 11/12/04, resigning from the board of directors of The GEO Group, Inc.
market is stillgood as there is always someone who needs to be locked up. Civiletti didnt bail he just saw the writing on the wall. Geo is expierencing growth (slowly) this was a good thing and some change at the top may scare others but this is a long term positive