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The GEO Group, Inc. Message Board

indian_cycle_buyer 80 posts  |  Last Activity: May 22, 2010 10:15 PM Member since: Feb 5, 2003
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  • Reply to

    Hot stock?

    by aaron123 Apr 23, 2010 3:58 PM
    indian_cycle_buyer indian_cycle_buyer May 22, 2010 10:15 PM Flag

    They're up to their butts in lost contracts, empty beds and closed prisons.

    Ackman is dreaming.

  • indian_cycle_buyer by indian_cycle_buyer Mar 16, 2010 1:30 AM Flag

    Opinion
    Enid (OK) News and Eagle
    March 13, 2010

    THUMBS DOWN

    Diamondback Correctional Facility in Watonga will shut its doors within the next 60 days. The private prison’s more than 300 employees will either be out of work or will try to transfer to other Corrections Corporation of America facilities in other cities.

    CCA says it is closing the prison because all of the inmates at Diamondback are from Arizona, and facilities will soon become available there to house the inmates.

    CCA is trying to sell the 2,160-bed facility.

  • Reply to

    For-profit prison industry sickly

    by indian_cycle_buyer Feb 22, 2010 1:07 PM
    indian_cycle_buyer indian_cycle_buyer Feb 22, 2010 1:10 PM Flag

    CCA also was informed last week that it was turned down for a state of Georgia contract.

  • indian_cycle_buyer by indian_cycle_buyer Feb 22, 2010 1:07 PM Flag

    CCA, like its competitors GEO Group and Cornell (CRN) are considerably off since the first trading week of the year.

    CCA has abandoned plans to build in Yavapai county, Arizona (Prescott Valley and Camp Verde), has closed its Appleton, MN prison this month, lost its Alaska contract and most of its Washington prisoners being held in Arizona, got notice that its Whiteville, TN contract will end, lost its California City CA contract, and its Mineral Wells TX pre-parole is squarely in the sights of budget cutters in the legislature. It has had nothing but trouble in Pahrump, NV. Its Oklahoma prisons look like rust belt factories.

    Audio here: http://www.defense.gov/multimedia/audio/wwiisubdive.wav

  • Reply to

    Arizona 3% of Revenue

    by bullish321 Jan 27, 2010 2:18 PM
    indian_cycle_buyer indian_cycle_buyer Jan 28, 2010 5:03 PM Flag

    It's not just Arizona...it's almost everywhere. Appleton, MN, closes on Monday, probably for good.

    California City, closing. Huerfano Colorado, closing sooner.

    CCA is desperate in AZ. They've approached at least three diffent cities about building spec pens: Winslow yesterday, Prescott Valley and Wickenburg in the past two months.

  • indian_cycle_buyer by indian_cycle_buyer Jan 28, 2010 4:57 PM Flag

    Stock promoters on this page are dreaming. They're probably either trying to dump their owned shares of this turkey any may be executives trying to put a good face on the prospects.

    They've recently lost their contract in California City for criminal aliens. They're closing Huerfano and Appleton as soon as next week. They lost their Alaska contract in Eloy. They have empty beds all over the country.

    This stock has dropped 25% in the last two weeks and it's still overvalued.

    Immigration law changes, mentioned in the SOTU speech yesterday, can put them back in the tank they barely crawled out of in 2001.

    When is management going to understand that overbuilding will bankrupt them?

    "New" guys. Same as the old guys.

  • indian_cycle_buyer by indian_cycle_buyer Sep 10, 2009 2:26 AM Flag

    A recent wages and hours class action settlement cost the corporation millions, employee turnover is phenomonal and hourly pay in most prisons is substandard.

    Can the new HR chief fix this?

    We'll see.

  • Reply to

    Movement

    by egg_hrbr_33 Aug 3, 2009 2:48 PM
    indian_cycle_buyer indian_cycle_buyer Sep 10, 2009 2:16 AM Flag

    Contracts lost in Otter Creek and Eloy Arizona should cost this corporation dearly, as will the rampant sexual abuse in Otter Creek.

  • Reply to

    Gainesville facility

    by offficerandagentleman Jul 2, 2009 3:28 PM
    indian_cycle_buyer indian_cycle_buyer Sep 10, 2009 2:13 AM Flag

    Unless it's changed, stay away from their 401K. It used to be invested entirely in company stock. The price dropped from $44 to $.28, leaving line staff high and dry.

  • indian_cycle_buyer by indian_cycle_buyer Sep 10, 2009 2:10 AM Flag

    CCA had a particularly ugly escape in Missippi a couple of months ago. The escapee tried to kill a Nashville police sergeant with the gun he got from a CCA guard. Locals in both places are giving the corporation much scrutiny these days, and the results won't be favorable.

    They lost a contract to operate T. Don Hutto, which has superceded their Elizabeth NJ immigration as the poster child for abusive and inept management.

    The prison they've started in Pahrump, NV, has fostered considerable local opposition and experienced significant delays.

    All this makes me very nervous.

    You?

  • Reply to

    Shame

    by holt_guy Apr 8, 2008 8:55 AM
    indian_cycle_buyer indian_cycle_buyer Sep 10, 2009 2:03 AM Flag

    Actually, various denominations, including Catholic, Methodist, Episcopal, Presbyterian, United Church of Christ, Society of Friends (Quakers), Mennonites, etc., have condemned for-profit prisons.

  • Reply to

    This plays to the strength of GEO

    by dormie18 Jun 20, 2009 1:04 AM
    indian_cycle_buyer indian_cycle_buyer Jul 16, 2009 8:16 AM Flag

    Depending on California prisoners is a nightmare. The state is issuing vouchers and drastically cutting back its prison population.

    GEO got a permit to build near its Lawton, OK prison last year and has yet to make any progress on the construction. There are 3,000 empty for-profit prison beds in that state.

    GEO bid to lease a mothballed state prison near Vegas but was turned down.

    In this market, there are no financing schemes that will bail it out.

  • Reply to

    Gainesville facility

    by offficerandagentleman Jul 2, 2009 3:28 PM
    indian_cycle_buyer indian_cycle_buyer Jul 16, 2009 8:09 AM Flag

    Exuberant expansion will cost CCA dearly. There are 3,000 empty beds in Oklahoma for-profit prisons alone. It's green staff at La Palma in Eloy, Arizona, can't handled the flood of California gang bangers the corporation solicited.

    In its home of Nashville, it is directly responsible for the shooting of a police sergeant by escapee from Mississippi earlier in the day.

    Time to short sell this one.

  • Reply to

    Falling off a cliff?

    by indian_cycle_buyer Mar 26, 2009 12:35 AM
    indian_cycle_buyer indian_cycle_buyer Mar 26, 2009 1:13 AM Flag

    I went back to check those numbera and found this story from today:

    "In separate proceedings, a three-judge panel, including (U.S. District Senior Judge Thelton) Henderson, has ruled that overcrowding at the (California DOC) prisons - now filled at twice their designed capacity of 80,000 - was the primary cause of inadequate health care, and has tentatively ordered the release of between 37,000 and 58,000 inmates to local custody, treatment programs or parole. Schwarzenegger plans to appeal to the U.S. Supreme Court."

  • indian_cycle_buyer by indian_cycle_buyer Mar 26, 2009 12:35 AM Flag

    Despite CCA's historic proclivity to go spiraling into the toilet, it seems industry tracking, especially that done by First Analysis, is the last to get a clue. They seem way too close to management to be objective.

    CCA's buy back attempt to rescue stock price, no doubt because corporate executives are such heavy shareholders, is bound to have reprecussions. It worked for a while but it won't hide the PE truth and has been putting more debt on the balance sheets.

    The state of Maine just announced yesterday that its plan to export convicts to CCA has been shelved.
    http://www.correctionsone.com/corrections/articles/1800444-Maine-inmates-to-stay-in-state-alternative-budget-planned/

    Idaho simultaneouly announced it would bring back the last of its 380 prisoners from CCA's Sayre, Oklahoma, facility by August. http://www.2news.tv/news/local/41828422.html

    They had come part way home after GEO Group lost its contract to hold them in Littlefield, Texas and cancelled its contract to operate that escape-and-debt-plagued prison.

    CCA is pushing to build prisons nine and 26 miles from the California border, paying almost $7 million for 120 acres in Nye county that might bring about $200,000 on the open market today. It was counting on getting California prisoners to fill them, but a three-judge federal panel just told that state it needs to reduce its population by 40,000, not just export prisoners elsewhere. Those who have already been transported, such as to CCA's new Las Palmas facility in Arizona, are in a state of open rebellion with a low-paid, green staff baffled about how to cope with them. Nevada may reduce its prison population by nearly 5,000 to cope with the current economic crisis. Alaska has begun building to bring back its 900 prisoners from CCA in Eloy, Arizona, and Hawai'i is starting to get the willies once more.

    Arizona has an MTC prison being constructed which could return that state's exports from Cornell and CCA in Oklahoma.

    Major anticipated changes in immigrant detention policy, in addition to undocumented workers going back home due to the lack of low skilled jobs in the U.S., will take a huge bite out of corporate profits.

    CCA's chickens are coming home to roost, just as they did when they overextended in 2001 and their stock dropped under $.50/share.

    Don't wait for indolent industry trackers to acknowledge the obvious: The time to short is now.

  • Reply to

    Compensation committee needs an enema

    by xelementalchef Feb 14, 2006 9:35 PM
    indian_cycle_buyer indian_cycle_buyer Mar 30, 2006 11:35 AM Flag

    Hey, are you going to begrudge Zoley his modest little $9 million beach bungalow? Envy, that's what's going on!

  • indian_cycle_buyer by indian_cycle_buyer Feb 16, 2006 12:12 AM Flag

    PRESS RELEASE
    San Antonio, TX (February 15, 2006)

    Grieving Family Files Suit Against County and Private Jail After Wife and Mother is Raped, Commits Suicide

    The Texas Civil Rights Project filed suit today on behalf of the family of Mrs. Letisha Tapia. Mrs. Tapia was found hanging in the Val Verde County Jail on July 23, 2004 after she had been raped by a male inmate.

    The jail housed Mrs. Tapia in the same cell block as violent male inmates. Permissive guards allowed male and female inmates to have sexual relations. Mrs. Tapia told the warden about these sexual transgressions, but he ignored her pleas and male inmates remained in the cell block. Mrs. Tapia was raped by one of the male inmates after making her report to the warden.

    Mrs. Tapia reported the rape to the authorities, who refused to press charges. She received no psychiatric treatment after the rape, despite experiencing depression and anxiety.

    The night before she died, Mrs. Tapia was abused by a guard. Lt. Duggar interrogated Mrs. Tapia about a rules violation by forcing her to her knees and kicking her. He threatened her with rape, telling her �if you were my cellmate, I�d make you my bitch.� He called her a �low-life prostitute ho� and told her she would spend the next fifteen years in jail. He ordered three female officers to strip search Mrs. Tapia, and watched as they made her expose herself to him. Despite telling Lt. Duggar she would kill herself if placed in administrative segregation, Duggar threw Mrs. Tapia into a segregation cell and left her there, naked, without blankets for the entire night.

    Jail policy requires that every inmate see a psychiatrist before being placed in administrative segregation, but Mrs. Tapia never saw a doctor. The jail guards failed to inspect her cell every fifteen minutes (as required by policy), and Mrs. Tapia was found hanging in her cell that night.

    �The jail drove this young woman to kill herself,� said Scott Medlock, the Texas Civil Rights Project�s Prisoners� Rights Attorney. �From the minute she was booked into this facility, she was abused and ignored by jail officials.�

    Medlock said the private prison system was to blame for Mrs. Tapia�s death. Val Verde County and the US Marshals Service contract with GEO Group, formerly Wackenhut Security, to run the jail. �When prisons and jails are privatized the company�s bottom line is placed above inmate health and safety. GEO cuts corners by hiring poorly trained guards, providing inmates with cut rate medical care and running their facility in a grossly unprofessional manner. Mrs. Tapia�s family had their wife, mother and daughter sacrificed to corporate greed.�

    Mrs. Tapia�s family is seeking monetary damages, but that is little consolation. �No amount of money could bring her back,� her husband, Eliodoro Tapia, said.

    For more information, please contact Scott Medlock, at (512) 474-5073 ext. 105.

  • Reply to

    Not Entrepreneurs GEO

    by urgoldnomore Jan 24, 2006 4:03 PM
    indian_cycle_buyer indian_cycle_buyer Jan 27, 2006 10:02 AM Flag

    http://www.zwire.com/site/news.cfm?BRD=1861&dept_id=152368&newsid=16008139&P
    AG=461&rfi=9

    Sanders Says Prison Expansion On Hold
    by Christopher Henderson, 1/26/06

    City Councilman James Sanders, Jr. (D-Laurleton) announced this week that
    the expansion plans for a private prison in Springfield Gardens have been halted, but a spokesman for the company that owns the prison said the expansion will go ahead as scheduled.
    Sanders said an official announcement will come next week after he and other elected officials meet with The U.S. Marshals Sevice, which holds a contract with the prison at 182-22 150th Ave.
    "We were called upon to deal with life and death issues," Sanders said.
    "By the grace of God, we have prevailed this time."
    The Marshals house 200 federal prisoners at Queens Private Correctional Facility. Until last July, the facility, which is owned by GEO Group, Inc.,held immigration detainees caught at nearby Kennedy Airport.
    In December, GEO Group, an international prison management company,bought the warehouse next to the prison and announced plans to increase its capacity by 170 inmates. GEO spokesman Marty McLaughlin said the company
    still intends to go ahead with those expansion plans.
    Local officials and community groups have fought against the prison over the past month after the expansion and the change to federal prisoners became well-known. Sanders led a march on the prison on Martin Luther King's
    birthday last week. At an earlier town hall meeting, residents raised concerns about the prison's proximity to their homes and PS 52 on 146th Terrace.
    The U.S. Marshals Service did not return calls for comment on this story.

  • Reply to

    Geo

    by les_boob Dec 19, 2005 7:38 PM
    indian_cycle_buyer indian_cycle_buyer Jan 6, 2006 1:53 AM Flag

    Brown was making about a quarter of a million. Has she kept the same salary?

  • Reply to

    Geo

    by les_boob Dec 19, 2005 7:38 PM
    indian_cycle_buyer indian_cycle_buyer Dec 29, 2005 7:16 AM Flag

    So what happened to GEO Sr. VP Carol Brown? She worked for GEO since 1990, but I can't find her listed in conjunction with GEO since early '04. She's not listed as an insider since then. She's only 50 or so, so retirement is not likely.
    icb

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