Tuesday, May 14, 2013
Nicole Flatow, ThinkProgress
Submitted by: Tracey Hakwins

Prison profits skyrocket on promises of “growing offender population”

Private prison operators are enthusiastic about the prospects of high incarceration rates for business.

A major U.S. private prison operator known for inmate abuseviolations, and disregard for the truth reported a 56-percent spike in profit in the first quarter of 2013, due in part to its new strategy for drastically reducing its taxes, the Associated Press reports. During a conference call touting its success, representatives at GEO Group boasted that the company continues to have “solid occupancy rates in mid to high 90s” and that they are optimistic “regarding the outlook for the industry,” in part due to a “growing offender population.”

Posted by Editor on 05/14/13 at 11:16 AM •  (0) Comments

Tags:  wealth,

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