Anyone who claims private prison companies don't profit off misery must reconcile that belief
with this comment:
“The reality is, we are a very affluent country, we have loose
borders, and we have a bad education system,” said Shayn March, the vice
president and treasurer of the Geo Group. “And all that adds up to a
significant amount of correctional needs, which, thankfully, we’ve been
able to help the country out with and states with by providing a lower
cost solution.”
The previously unreported remarks were made during a presentation at
the Barclays High Yield Bond & Syndicated Loan conference in June.
From the same source, we also get this interesting analysis of high US crime rates: "March argued that crime is inherent in America because of affluence. 'No
one is committing a lot of crime in poor countries because, well, who
are you going to steal from?' March continued," offering an especially sanguine view of the private prison industry's future prospects:
March told attendees that factoring in elderly care, immigrant
detention, and expansion plans overseas, the company is sure to grow. “I
think I started at GEO, our stock price … got down to $12.50. And if
you factor in an apples-to-apples comparison to where we are today, our
stock is well over $50 a share. So we have quadrupled our value in that
six-year period.”
He added, “No, we’re not Google, but we’re still doing pretty good.”
.jpg)
No comments:
Post a Comment