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| Private prisons in line for gains |
| By montereyherald.com- Julia Reynolds |
| Published: 07/29/2014 |
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Two of the largest U.S. private prison firms stand to earn tens of millions of dollars from California's dramatic restructuring of its incarceration policies, investment analysts say. An analysis obtained by The Herald indicates Tennessee-based Corrections Corporation of America, known as CCA, and Florida-based GEO Group can both expect increased shareholder earnings due to California's inmate population upheaval under the state's prisoner realignment bill, also known as AB 109. "If more (out-of-state) beds are used, we believe The GEO Group, Inc. will benefit first but Corrections Corp. of America likely would be a beneficiary too," reads an Aug. 8 report by Avondale Partners LLC, a national investment banking firm. Read More. |
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