{"id":5114,"date":"2013-08-12T10:18:51","date_gmt":"2013-08-12T14:18:51","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/?p=5114"},"modified":"2013-08-12T10:28:34","modified_gmt":"2013-08-12T14:28:34","slug":"dump-cca-and-other-private-prison-stocks-now-smart-analysts","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2013\/08\/dump-cca-and-other-private-prison-stocks-now-smart-analysts.html","title":{"rendered":"Dump CCA and other private prison stocks now &#8211;smart analysts"},"content":{"rendered":"<p>\r\nIf business is so good,\r\nwhy did CCA\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2012\/03\/cca-private-prison-project-shelved-vdt.html\">\r\nlose two contracts for new prisons in Georgia last year<\/a>\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2011\/12\/no-private-prisons-at-cca-headquarters-nashville-tn-10-december-1011.html\">\r\n<img decoding=\"async\" style=\"float:right;border:none;\" src=\"http:\/\/farm8.staticflickr.com\/7024\/6487694745_c5b4d96f43_n.jpg\"><\/a>\r\nwhen neither the state nor the feds had enough prisoners to fill them?\r\nAnd why was\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2012\/05\/ocilla-prison-nearly-sold-at-auction.html\">\r\nthe private prison in Ocilla nearly sold at auction<\/a>?\r\nWhy this year was <a href=\"http:\/\/www.l-a-k-e.org\/blog\/2013\/06\/gladiator-school-cancelled-2-other-cca-prisons-closed.html\">\r\nGladiator School closed and two other CCA prisons cancelled<\/a>?\r\nAnd all that was <em>before<\/em>\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2013\/08\/avoid-charging-low-level-and-nonviolent-drug-offenders-u-s-doj.html\">\r\nU.S. DoJ announced today<\/a> it will &#8220;avoid charging certain low-level and nonviolent drug offenders with crimes that carry mandatory minimums&#8221;.\r\n<p>\r\nEd Arnold wrote for Memphis Business Journal 23 July 2013,\r\n<a href=\"http:\/\/www.bizjournals.com\/memphis\/news\/2013\/07\/23\/corrections-corp-of-america-debunks.html\">\r\nCorrections Corp. of America debunks Anonymous report<\/a>,\r\n<blockquote>\r\n<p>\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2011\/12\/no-private-prisons-at-cca-headquarters-nashville-tn-10-december-1011.html\">\r\n<img decoding=\"async\" style=\"float:right;border:none\" src=\"http:\/\/farm8.staticflickr.com\/7142\/6487710635_65e923681e_m.jpg\"><\/a>\r\nAs reported on Monday, the computer hacking collective known as\r\nAnonymous Analytics published a blog warning investors that a\r\ndeclining prison population and reforms designed to reduce\r\nincarceration rates in the U.S. point to shrinking revenue for\r\nCorrections Corporation of America (NYSE: CXW) going forward.\r\n<\/p>\r\n<p>\r\nCCA flatly denied the Anonymous Analytics conclusions in a\r\nstatement.\r\n<\/p>\r\n<\/blockquote>\r\n<p>\r\nCCA apparently didn&#8217;t dare link to the actual report.\r\nAnonymous Analytics wrote 9 July 2013,\r\n<a href=\"http:\/\/anonanalytics.blogspot.com\/2013\/07\/corrections-corporation-of-america.html\">\r\nCorrections Corporation of America: The Dismantling of a National Disgrace<\/a>,<!--more-->\r\n<blockquote>\r\n<a href=\"http:\/\/anonanalytics.blogspot.com\/2013\/07\/corrections-corporation-of-america.html\">\r\n<img decoding=\"async\" style=\"float:right;border:none;width:600px\" src=\"http:\/\/3.bp.blogspot.com\/-KQfa3aOC-jg\/UWafV_Xn-xI\/AAAAAAAAABU\/TstdBAXJ9ag\/s1600\/logo1.jpg\"><\/a>\r\nConclusion: Strong Sell\r\n<H3>The Quick and Dirty<\/H3>\r\n<a href=\"http:\/\/www.pewstates.org\/news-room\/press-releases\/us-prison-count-continues-to-drop-85899457496\">\r\n<img decoding=\"async\" style=\"float:right;border:none;width:365px\" src=\"http:\/\/www.pewstates.org\/uploadedImages\/PCS_Assets\/Project_Images\/PSPP_pop_graphic_FINAL.png\"><\/a>\r\n<ul>\r\n<li>\r\nExploding corrections budgets have forced\r\nstates to enact bi-partisan criminal justice\r\nreforms to reduce their prison populations.\r\n<li>\r\nThe US prison population peaked in 2009.\r\nSince then, states across the country have\r\nclosed prisons due to excess capacity and\r\ngenerational low crime rates.\r\n<li>\r\nFaced with empty beds, demand concerns,\r\nand a bleak outlook, this report details why\r\nwe expect CCA\u2019s earnings to get smacked\r\nunder the weight of current and future\r\ncontract losses.\r\n<\/ul>\r\n<\/blockquote>\r\n<p>\r\nACLU wrote 9 July 2013,\r\n<a href=\"http:\/\/www.aclu.org\/prisoners-rights\/aclu-comment-anonymous-report-corrections-corporation-america\">\r\nACLU Comment on Anonymous&#8217; Report on the Corrections Corporation of America<\/a>,\r\n<blockquote>\r\n&#8220;The ACLU has known for years that for-profit prisons are a bad policy investment. Thanks to Anonymous&#8217; report, we now know they are a bad financial investment as well. For 30 years, companies like the Corrections Corporation of America have capitalized on our country&#8217;s addiction to incarceration, converting an unprecedented prison population boom into big returns for investors. But as states increasingly pass reforms that wean us from our addiction to incarceration, CCA&#8217;s profits will dry up.&#8221;\r\n<\/blockquote>\r\n<p>\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2011\/04\/misplaced-priorities-over-incarcerate-under-educate-naacp.html\">\r\n<img decoding=\"async\" style=\"float:right;border:none;width:264px\" src=\"http:\/\/naacp.3cdn.net\/0fdf3b82ccf352324d_70m6bh6pe.png\"><\/a>\r\nAnd of course everybody\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2011\/04\/misplaced-priorities-over-incarcerate-under-educate-naacp.html\">\r\nfrom the NAACP to Grover Norquist<\/a> has been\r\nsaying for years, &#8220;They don\u2019t need prison. Sending them to rehab costs less.&#8221;\r\n<p>\r\nGeorgia is\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2012\/01\/how-to-end-the-epidemic-of-incarceration.html\">\r\none of the worst afflicted by the over-incarceration caused by the\r\nfailed War on Drugs<\/a>, with\r\n1 in 13 of adults in jail, prison, probation, or parole,\r\nand even Georgia\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2012\/03\/sentencing-reform-passed-joint-committee-in-georgia.html\">is passing sentencing reform<\/a>: it&#8217;s law since\r\n<a href=\"http:\/\/www.ajc.com\/news\/news\/state-regional-govt-politics\/deal-signs-bill-revamping-many-criminal-sentences\/nQTWN\/\">May Day 2012<\/a>.\r\n<p>\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2011\/09\/time-to-divest-from-private-prison-companies.html\">\r\n<img decoding=\"async\" style=\"float:right;border:none;\" src=\"http:\/\/prisondivestment.files.wordpress.com\/2011\/05\/enlace-poster_outline_campaignsmall.jpg?w=150&#038;h=194\"><\/a>\r\n<a href=\"http:\/\/www.l-a-k-e.org\/blog\/2011\/09\/time-to-divest-from-private-prison-companies.html\">\r\nDivest now<\/a> to end this madness.\r\n<\/p>\r\n<p>\r\n -jsq\r\n<\/p>","protected":false},"excerpt":{"rendered":"If business is so good, why did CCA lose two contracts for new prisons in Georgia last year when neither the state nor the feds had enough prisoners to fill them? And why was the private prison in Ocilla nearly sold at auction? Why this year was Gladiator School closed and two other CCA prisons [&hellip;]","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[1113,14,8,41,19,72,20,73],"tags":[8817,6801,8704,8701,8718,8709,8730,2695,8702,8710,12,7,2552,8731,2867,2532,6,82],"class_list":["post-5114","post","type-post","status-publish","format-standard","hentry","category-cca","category-economy","category-georgia","category-health-care","category-history","category-incarceration","category-law","category-safety","tag-cca","tag-divest","tag-economy","tag-georgia","tag-health-care","tag-history","tag-incarceration","tag-justice","tag-lake","tag-law","tag-lowndes-area-knowledge-exchange","tag-lowndes-county","tag-prisoners","tag-safety","tag-sentencing","tag-stock","tag-valdosta","tag-war-on-drugs"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p585fK-1ku","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/5114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/comments?post=5114"}],"version-history":[{"count":9,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/5114\/revisions"}],"predecessor-version":[{"id":5124,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/5114\/revisions\/5124"}],"wp:attachment":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/media?parent=5114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/categories?post=5114"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/tags?post=5114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}