private prisons

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Private Prison Stocks Were Among Market's Biggest Losers
Biden Move Wallops
Private Prison Stocks
MARKETS
Jan 26, 2021 4:02 PM CST

Biden Move Wallops Private Prison Stocks

Administration won't be renewing contracts

(Newser) - Stocks ended lower on Wall Street Tuesday after spending most of the day in the red. The S&P 500 lost 0.15%, pulled down by losses in banks and industrial companies. Gains for some Big Tech companies like Amazon and Facebook helped keep the losses in check. Small-company stocks...

Trump Reversal on Private Prisons a 'Reward': Sanders

For campaign donors, senator says after Sessions memo reverses Obama order

(Newser) - This is why shares in private prisons soared after President Trump's election win: His administration, in a widely expected move, has scrapped the Obama administration's plan to phase out the federal government's use of private prisons , reports Reuters . In a memo from Attorney General Jeff Sessions released...

DOJ: We're Phasing Out Private Prisons

After IG report found private prisons aren't as safe, don't offer significant cost-savings

(Newser) - Shares for two big corrections companies took a deep dive Thursday after a report that the Justice Department is moving away from using private prisons, with the eventual goal of no private prisons under its umbrella at all, CNBC reports. Prison companies GEO and Corrections Corporation of America saw more...

Sanders Moves to Ban Private Prisons

The senator introduced the 'Justice Is Not for Sale Act' today

(Newser) - Democratic presidential candidate Bernie Sanders introduced legislation to Congress today that would ban private prisons and jails in the United States, USA Today reports. Sanders—who has called the size of the US prison population an "international disgrace"—says the goal of for-profit prisons and jails is to...

How Companies Gouge Prison Inmates

Firms line up to be banks, telecom companies for the incarcerated

(Newser) - There are many reasons that it sucks to be in prison, but one of them is that it can cost more than eight bucks to make a 15-minute phone call—and private companies are collecting that dough. The New York Times today takes a look at how a new breed...

FBI Investigating Idaho 'Gladiator School' Prison

Video of inmate beaten into coma underscores level of violence

(Newser) - The FBI launched an investigation into a privately run Idaho prison after the AP published a video of an inmate savagely beating another as guards looked on. The inmate, who banged on a guard station window to plead for help and suffered brain damage in the attack, is one of...

Private Prison Industry Helped Draft Arizona Immigration Bill

Mass detentions mean huge profits

(Newser) - If Arizona's immigration law survives its court challenges, it could result in mass detentions of immigrants—and massive profits for the private prisons holding them. So while it's no surprise the industry supports the measure, an NPR investigation reveals that it actually helped draft the law. The report shows how...

Jail Biz Backfires for Rhode Island Town's Immigrants

Privately run jail causes discord in town full of immigrants

(Newser) - Locking up accused criminals is big business in America, but an attempt to cash in came with a high cost for one Rhode Island town, a New York Times investigation finds. The Donald D. Wyatt Detention Center, a maximum security jail, promised to bring jobs to the largely Hispanic town...

Record 2.3M Crowd US Prisons
 Record 2.3M Crowd US Prisons 
Jun 12, 2008 5:46 AM CDT

Record 2.3M Crowd US Prisons

Federal report describes system in crisis

(Newser) - A record 7.2 million criminals were behind bars, on parole, or being supervised on probation in 2006—a figure that cost taxpayers $45 billion and has states rethinking sentencing laws and shipping inmates elsewhere, the Washington Post reports. Of that number, 2.3 million people were in jail or...

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