advertisement
advertisement
advertisement
  • 08.18.16

The stock of America’s two biggest for-profit prison companies is plummeting

In the wake of the U.S. Justice Department’s announcement this morning that it would phase out the use of private prison companies and eventually rely exclusively on federal facilities, shares of the country’s two largest for-profit prison corporations—GEO Group and Corrections Corp of America—are facing steep declines:

Deputy Attorney General Sally Yates announced the plans in a memo detailing the drastic cost inefficiencies and safety concerns that have increasingly plagued private prisons.JJM