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Private prisons anticipate business opportunity after Title 42

May 12, 2023
Two companies talked a lot about the ending of the Title 42 immigration policy in recent earnings calls.
Private prisons rely heavily on immigration detention contracts. Above, an immigrant detention facility in Virginia.
Saul Loeb/AFP via Getty Images

Private prison stocks aren’t feeling the expected boom

Dec 29, 2017
Stocks in the for-profit prison sector skyrocketed after the election of President Donald Trump. The Obama administration and Democratic presidential candidate Hillary Clinton had both pledged to phase out their use by federal authorities — an approach Trump rejected. But the industry hasn’t seen the sustained boost many investors expected.  Click the audio player above to […]

New York City pension funds are divesting private prison stocks

Jun 9, 2017
New York City’s pension funds announced they’re selling $48 million in stocks and bonds invested in three private prison companies. It’s the first group to publicly divest from that industry, and cited recent reports of inmate deaths, as well as concerns of overcrowding and understaffing. Private prisons are expected to grow under President Trump. That’s […]

Can for-profit prisons force detained immigrants to work?

Mar 7, 2017
A federal judge in Colorado has approved the first class-action lawsuit testing whether private prisons can force detained immigrants to work as “volunteers” for as little as $1 per day. The case centers on an ICE detention facility run by the GEO Group, one of the country’s largest private prison operators, and may turn on […]

A small Georgia town where prisons play a big role

Jan 13, 2017
McRae-Helena could see its fortunes change under the Trump administration.
McRae Correctional Institution has been in this rural part of southern Georgia since the early 2000s, housing up to 2,000 federal prisoners.
Ali Guillory

Private prisons on the way out

Aug 18, 2016
Justice Department to phase out federal contracts.
Condemned inmates sits in housing block at San Quentin State Prison's death row on August 15, 2016 in San Quentin, California. 
Justin Sullivan/Getty Images