Tuesday, November 11, 2014

Quantifying the Sex-Offender Industry: Throwing More People Into Prison Proves Massively Profitable

Quantifying the sex-offender industry: Among those who favor ever-more-harsh laws that fatten up sex-offender registries are private prison corporations.

Throwing more people into prison means big bucks for these companies. Recent quarterly earnings reports from two private prison corporations, Corrections Corporation of America (CCA) and the Geo Group, reveal the staggeringly huge stakes these companies have in criminalizing all kinds of things.

CCA beat earnings expectations and its stock soared to a 52-week high before falling back a bit. GEO Group also beat earnings expectations and its stock reached a 52-week high on Friday. [Earnings call transcripts for CCA and GEO].

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