Corrections Corp. (CXW), GEO Group (GEO) Defended at Suntrust - Bloomberg
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GEO Group (GEO) Says It Welcomes Review by Department of Homeland Security
August 29, 2016 1:07 PM EDTThe GEO Group, Inc. (NYSE: GEO) ("GEO") welcomed todays announcement by the U.S. Department of Homeland Security directing U.S. Immigration and Customs Enforcement (ICE) to initiate an independent review of its current detention and processing centers. GEOs facilities under contract with ICE (GEOs Facilities) are highly rated and provide high-quality, cost-effective services in safe, secure, and humane residential environments pursuant to strict contractual requirements and the Federal Governments national standards.
During the most recent... More
U.S. to review use of private immigration prisons, shares slide
August 29, 2016 12:51 PM EDTBy Julia Edwards
WASHINGTON (Reuters) - The U.S. Department of Homeland Security will study whether to discontinue using privately run detention centers, which the Justice Department recently called unsafe, for migrants and shares of private prison operators fell on Monday after the news.
Department Secretary Jeh Johnson said he directed his advisory council to evaluate whether the agency should continue to contract with private prison operators and make a recommendation by Nov. 30. Advocates for immigrants have accused the companies of withholding proper mental health and medical care from detainees to boost profits.
Immigration and Customs... More
UPDATE: Corrections Corp. (CXW), GEO Group (GEO) Active; DHS to Review Use of Private Prisons
August 29, 2016 12:45 PM EDT(Updated - August 29, 2016 12:46 PM EDT)
Corrections Corp. (NYSE: CXW) and GEO Group (NYSE: GEO) shares are active midday.
UPDATE - Headlines have the DHS looking to review usage of private prisons, according to Bloomberg. Comments come from DHS Secretary Jeh Johnson today.
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