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The GEO Group, Inc. Message Board

  • mcprison mcprison Sep 7, 2001 12:35 PM Flag

    Wall St, 9

    for more inmates.
    Steven Owen, a spokesman for CCA, says his company is focused on
    providing good service to Mississippi, and "the rest of it will take care of

    As of yesterday, 2,145 prison beds remained empty across the state, a
    number Mr. Johnson says isn't likely to fall anytime soon. Net admissions of
    554 inmates through Aug. 31 are trailing last year's comparable figure by
    694 inmates. In March, the legislature adjusted the state's sentencing law to
    make first-time nonviolent convicts eligible for parole.

    And in an aftershock of the 1990s prison-building explosion, an 11th
    county-operated regional prison is scheduled to open next spring, with
    space for 250 state prisoners. According to a contract he signed before so
    many beds became empty, Mr. Johnson must find 200 inmates for that
    prison too.

    Mississippi built 15 prisons in seven years, creating too many cells and fierce
    competition for inmates among prison operators. In the hunt for more convicts were
    private prison companies Wackenhut Corrections Corp. and Corrections Corp. of
    America, as well as "regional" prisons, such as the one in Bolivar County.

    Wackenhut Corrections Corp.
    Palm Beach Gardens, Fla.
    CEO and Vice-Chairman:
    George C. Zoley
    40,000 beds in 57 facilities
    2000 revenue:
    $535.6 million
    2000 net income:
    $17.0 million

    Corrections Corp. of America
    Nashville, Tenn.
    CEO and President:
    John D. Ferguson
    61,300 beds in 64 facilities
    2000 revenue:
    $310.3 million
    2000 net loss:
    $730.8 million

    The explosion of prison construction during the past
    decade has left 27 states with at least 1% excess capacity in their prison systems
    according to the Justice Department. Some states, though, are still overcrowded.
    Figures are as of end of 2000.

23.78+0.51(+2.19%)Sep 30 4:02 PMEDT