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| GEO Group Earns Over $600,000 a Year From Prisoners' Phone Calls |
| By browardpalmbeach.com- Deirdra Funcheon |
| Published: 02/20/2014 |
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Private prison company GEO Group (formerly Wackenhut) is the second-largest private prison company in the country. Guess where it gets a nice chunk of revenue? By taking kickbacks from the companies that put phone lines into its prisons. According to its SEC filings, GEO Group received $608,108 in prison phone commissions in 2012. (The company pointed out that's less than one percent of its $2.8 billion in assets, $1.339 million in income and $1.5 billion in revenues.) A GEO Group shareholder -- a very interesting one -- attempted to bring this to the attention of fellow shareholders, hoping they could vote on a resolution to nix this revenue stream, but this week, the GEO Group put the smackdown on that attempt. Read More. |
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