Thursday, August 5, 2010

Earnings Time

It's Why I Hate CCA's favorite time of the year (well one of four at least).  It's quarterly earnings report time, where we find out how much the private prison companies raped the American taxpayers for in the past couple months.  I just love hearing about the absurd amounts of profit to be made in the private incarceration business.

CCA posted a 12.3% increase in earning in the second quarter of 2010, making a whopping $36.6 million in profit on revenue of nearly $420 million, all for providing sub-standard detention "services."

Cornell thankfully is down compared to the same quarter of 2009, earning only $16.5 million in profit (compared to $19.6 million in 09), on a little over $103 million in revenue.

I haven't seen GEO's report yet but I'll try to get it posted when I do

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