Following Donald Trump’s 2024 election victory, private prison stocks experience their second massive surge after a Trump win. CoreCivic stock jumps 29% and GEO Group vaults 42% in a single trading session as investors bet on profits from Trump’s pledge to carry out “the largest …
Donald TrumpCoreCivicGEO GroupTom HomanWall Street investors+1 moreprivate-prisontrump-administrationimmigration-detentionmass-deportationwall-street+4 more
In May 2023, Tennessee’s State Building Commission approved a three-year, $168 million contract renewal with CoreCivic to operate the South Central Correctional Facility, despite the private prison corporation’s documented record of inmate deaths, safety violations, and nearly $18 …
CoreCivicBill LeeTennessee Department of CorrectionTennessee State Building Commissionprivate-prisonscampaign-financegovernment-contractsregulatory-capturecorporate-corruption+1 more
President Joe Biden signs Executive Order 14006, titled “Reforming Our Incarceration System to Eliminate the Use of Privately Operated Criminal Detention Facilities,” directing the Attorney General to not renew Department of Justice contracts with privately operated prisons. The order …
Joe BidenDepartment of JusticeBureau of PrisonsU.S. Marshals ServiceCoreCivic+2 moreprivate-prisonbiden-administrationexecutive-orderprison-reformimmigration-detention+1 more
The Trump administration’s ‘zero tolerance’ family separation policy forcibly removed over 5,500 children from their parents at the border, detaining them in cages at facilities described as ‘concentration camps’ by historians. Children as young as 4 months were taken, …
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Private prison companies CoreCivic and GEO Group saw their stock prices surge 100% and 98% respectively after donating nearly $2.8 million to Trump’s campaign and inauguration. Attorney General Jeff Sessions immediately reversed Obama’s order to phase out private prisons, declaring …
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Attorney General Jeff Sessions issues a one-paragraph memorandum rescinding the August 18, 2016 directive from Deputy Attorney General Sally Yates to phase out federal use of private prisons. Sessions claims the Obama policy “changed long-standing policy and practice, and impaired the …
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The day after Donald Trump is declared winner of the 2016 presidential election, private prison stocks experience massive gains. CoreCivic (formerly CCA) jumps from $14.19 to $20.31 per share (43% increase) and GEO Group rises from $23.88 to $28.96 per share (21% increase). According to Bianca …
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Corrections Corporation of America announces it is rebranding as CoreCivic, claiming the name change reflects a “multi-year strategy to transform our business from largely corrections and detention services to a wider range of government solutions.” The rebranding comes two months after …
Corrections Corporation of America (CCA)CoreCivicDamon T. HiningerBoard of Directorsprivate-prisoncorporate-rebrandpublic-relationsprison-industrial-complexgreenwashing
Deputy Attorney General Sally Yates issues a memorandum directing the Bureau of Prisons (BOP) to discontinue outsourcing operations to private entities and either decline to renew contracts or substantially reduce their scope as they expire. The memo cites a comprehensive Office of Inspector General …
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