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Real0ne -> RE: Technically, the 13th Amendment does NOT ban slavery (7/13/2013 11:50:24 AM)
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quote:
ORIGINAL: Moonhead
I'd assumed that was what the clause cited in the OP was all about, to be honest. Didn't know they still had chain gangs, but a lot of states are using their prison population as free labour, aren't they?
With more than 2.3 million people locked up, the U.S. has the highest incarceration rate in the world. One out of 100 American adults is behind bars — while a stunning one out of 32 is on probation, parole or in prison.
This reliance on mass incarceration has created a thriving prison economy. The states and the federal government spend about $74 billion a year on corrections, and nearly 800,000 people work in the industry.
From some of the poorest towns in America to some of the wealthiest investment firms on Wall Street, CNBC’s Scott Cohn travels the country to go inside the big and controversial business of prisons. We go inside private prisons and examine an Idaho facility nicknamed the “gladiator school” by inmates and former prison employees for its level of violence. We look at one of the fastest growing sectors of the industry, immigration detention, and tell the story of what happens when a hard hit town in Montana accepts an enticing sales pitch from private prison developers. In Colorado, we profile a little-known but profitable workforce behind bars, and discover that products created by prison labor have seeped into our everyday lives — even some of the food we eat. We also meet a tough-talking judge in the law-and-order state of Texas who’s actually trying to keep felons out of prison and save taxpayer money, through an innovative and apparently successful program.
http://www.cnbc.com/id/44762286
Corrections Corporation of America (CCA) is a company that owns and manages prisons and detention centers and operates others on a concession basis. The company is the largest private corrections company in the United States and manages more than 60 facilities with a designed capacity of 90,000 beds. CCA, incorporated in 1983 by three businessmen with experience in government and corrections, is based in Nashville, Tennessee.[2]
Recognition
CCA was named in 2008 as one of the 100 best corporate citizens by Corporate Responsibility Officer magazine.[8] The national military magazine GI Jobs has highlighted CCA as a solid employer for veterans[9] and also named CCA as one of its "Top 50 Military Friendly Jobs" on four[not in citation given] separate occasions.[10]
The American Correctional Association (ACA) has accredited 90% of CCA's facilities.[citation needed] ACA's Accreditation is a system of verification that correctional agencies and facilities comply with national standards promulgated by the American Correctional Association. Accreditation is achieved through a series of reviews, evaluations, audits and hearings.[11]
Occupancy and profitability
In a 1990s report, Prudential Securities was bullish on CCA but noted, "It takes time to bring inmate population levels up to where they cover costs. Low occupancy is a drag on profits... company earnings would be strong if CCA succeeded in ramp(ing) up population levels in its new facilities at an acceptable rate".[20]
http://en.wikipedia.org/wiki/Corrections_Corporation_of_America
[image]http://i1273.photobucket.com/albums/y410/mypbemotes/charts/l_eqq_2b000b533c011d1af04c0a5ed4e85144_zpsfc2a63cc.png[/image]
its nice to see others are finally taking an interest in america, land of the prison plantations and why the people here need to get off their asses.
Top Shareholders in CCA & GEO
Corrections Corporation of America (CCA) is the largest for-profit prison company in the United States. As of their latest filing, March 31, 2013, the Company operated 67 correctional and detention facilities, including 51 facilities that it owned, with a total capacity of approximately 92,500 beds in 20 states and the District of Columbia.
Their top institutional investors include:
The Vanguard Group, Inc. owning 12,397,823 shares or 12.29% of common stock (up from 5.38% in 2011)
BlackRock, Inc. owning 5,383,733 shares or 5.34% of common stock (up from 4.99% in 2011)
Fidelity Management and Research LLC owning 5,092,363 or 5.05% of common stock
The GEO Group (GEO) is the second largest for-profit private prison company in the United States operating 55 correctional and detention facilities in 16 states.
As of March 2013, their top institutional investors include:
Scopia Fund Management LLC owning 10,717,268 shares or 14.84% of common stock (up from 12.20% in 2011)
Vanguard Group, Inc. owning 8,997,661 shares or 12.57% of common stock (up from 5.33% in 2011)
Fidelity Management and Research LLC owning 5,338,951 shares or 7.46% of common stock (down from 14.8% in 2011)
BlackRock, Inc. owning 4,655,233 shares or 6.5% of common stock (down from 7.8% in 2011)
land of the free! what a fucking insult.
the best way to insure justice in any country is to invest in its prisons!
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