Rwsmom At Inrsol 
Member since May 8, 2012


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Re: “Privatizing Louisiana Prisons

If you will, GEO Groups, Inc. owns, operates and/or manages a mass majority of private and state owned prisons and vendors, not limited to the United States, but including countries like Canada, UK, Australia and England. They also own, operate or have controlling votes in subsidiary companies which provide services for construction of existing or new prisons, commissary for prisoners, GPS monitoring, and the most scarey; counseling and re-entry behavioral groups. see link http://geogroup.com/about.html

In GEO's financial F10 statement, they quote: "Competition for inmates may adversely affect the profitability of our business. We compete with government entities and other private operators on the basis of cost, quality and range of services offered, experience in managing facilities, and reputation of management and personnel. Barriers to entering the market for the management of correctional and detention facilities may not be sufficient to limit additional competition in our industry. In addition, some of our government customers could assume the management of a facility currently managed by us upon the termination of the corresponding management contract or, if such customers have capacity at the facilities which they operate, they may take inmates currently housed in our facilities and transfer them to government operated facilities. Since we are paid on a per diem basis with no minimum guaranteed occupancy under some of our contracts, the loss of such inmates and resulting decrease in occupancy could cause a decrease in both our revenues and our profitability." pg26
Read more: http://www.faqs.org/sec-filings/100222/GEO…

8 likes, 2 dislikes
Posted by Rwsmom At Inrsol on 05/08/2012 at 5:20 AM

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