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GEO - The Geo Group , Inc

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Marvan, Aug 14, 2019.

  1. Marvan

    Marvan Active Member

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    The GEO Group, Inc. (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom.

    GEO is the world's leading provider of enhanced offender rehabilitation, post-release support, electronic monitoring, and community-based programs.

    GEO's worldwide operations include the ownership and/or management of 133 facilities totaling approximately 97,000 beds, including projects under development, with a growing workforce of approximately 23,000 professionals.

    http://www.geogroup.com
     
  2. Marvan

    Marvan Active Member

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  3. Marvan

    Marvan Active Member

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    Geo Group tells investors its plans to expand

    Ashley Portero
    ,
    American City Business JournalsJuly 31, 2019


    [​IMG]
    Geo Group tells investors its plans to expand
    Despite an onslaught of criticism, Boca Raton-based The Geo Group expects to grow its number of detainees -– and profits – during the rest of 2019.

    The company (NYSE: GEO), which operates private detention centers and prisons, will activate more than 5,700 beds across its facilities in the U.S. and Australia during the third and fourth quarters of 2019, CEO George C. Zoley told investors during a July 30 quarterly earnings call. "We recognize that the recent media stories regarding overcrowded border patrol facilities and financial institutions discontinuing future financial support for private operators of [U.S Immigration and Customs Enforcement] processing centers have created volatility in our equity and debt markets," Zoley said.

    https://finance.yahoo.com/m/c65ca89b-73f3-3237-9966-cffd5f6a8578/geo-group-tells-investors-its.html
     
  4. T0rm3nted

    T0rm3nted Moderator
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    Isn't this the company making money off the absolutely atrocious detention centers of immigrants and their separated children? Something like $775/kid which doesn't include soap, toothbrushes, beds, blankets, a light switch to turn the lights off at night, etc.?

    I couldn't invest in this company if you paid me to.
     
  5. Marvan

    Marvan Active Member

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    I am not American, i dont know that .....
     
  6. Marvan

    Marvan Active Member

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    This was the only item i found about detention facilities ....

    Is it not the responsibility of your politicians to prevent atrocious detention? Companies must obey the law isn't it ...

    In my country (President Trump's Hell hole) it is NOT PERMITTED by law to jail children below 16.

    Are you not living in a democratic country ?

    https://theintercept.com/2019/08/08/private-prisons-contract-denver/
     
    #6 Marvan, Aug 17, 2019
    Last edited: Aug 17, 2019
  7. Marvan

    Marvan Active Member

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    Shares prices of Geo Group have barely budged since the private prison and detention firm was named in a class action lawsuit on Monday.

    Shares of the company closed at $17.42 on Thursday afternoon, down from $18.09 Monday morning. But share prices have declined by 28% since Aug. 23, 2018, when they were priced at $25.04, suggesting a slew of negative headlines about the Boca Raton-based private prison and detention center this year has affected the company's value.

    The recent lawsuit, in the U.S. District Court for the Central District of California, accuses Geo Group of failing to ensure immigrant detainees were held in humane conditions. The suit was filed on behalf 55,000 detainees in 160 U.S. Immigration and Custom Enforcement (ICE) detention centers nationwide.

    Many of those detention centers are under contract with the Boca Raton-based private prison and detention center contractor (NYSE: GEO) and CoreCivic, a private detention center owner and operator based in Brentwood, Tennessee.

    The plaintiffs, including the Southern Poverty Law Center, the Civil Rights Education and Enforcement Center, and Disability Rights Advocates, claim detainees at the centers were denied doctor-recommended medical care. They also said mentally ill detainees – including those with known cases of schizophrenia and depression – were kept in segregation, according to court documents.

    "These human beings – many of whom have fled torture – are packed into immigration prisons in which they are denied healthcare; refused disability accommodations; and subjected to arbitrary and punitive isolation, a practice that is increasingly considered torture," the lawsuit said.

    The lawsuit claims ICE violated the Fifth Amendment of the U.S. Constitution and Section 504 of the 1973 Rehabilitation Act, which prohibits discrimination against people with disabilities who are in programs or facilities that receive federal assistance.

    Because Geo Group was awarded more than $300 million in new ICE contracts in fiscal year 2017, and nearly $342 million in fiscal year 2018, federal law applies, the lawsuit claims. Geo Group operates 12 ICE processing centers nationwide.

    A spokesperson for Geo Group told the South Florida Business Journal the reports of detainee neglect in the lawsuit are "baseless allegations."

    "Geo’s medical programs ... provide 24/7 access to health care free of charge; are supported by professional teams including full-time physicians, a full-time physician’s assistants, a cadre of nursing services, dentists, psychologists, psychiatrists as well as referrals to local community hospitals as needed; and are fully accredited by the American Correctional Association and the National Commission on Correctional Healthcare," the spokesperson said in email.

    According to the lawsuit, at least half of all U.S. immigrant detainees are held at five detention centers operated by for-profit companies. The suit requests that ICE release detainees or transfer them to alternative accommodations, such as community-based housing.

    Private prison and detention center operators have been the focus of heightened scrutiny after it was revealed that the industry received more than $1 billion worth of ICE contracts in 2017, following a nationwide crackdown on immigration along the U.S. southern border.

    This year, several businesses – including banks JPMorgan Chase, Wells Fargo, Bank of America and SunTrust – severed ties with private prison companies after reports emerged that hundreds of migrants were being held in overcrowded and unsanitary facilities near the border.

    In July, the U.S House Committee on Oversight and Reform asked Geo Group to account for the hundreds of millions of dollars in federal government contracts it has received to operate ICE detention facilities.

    The committee noted a June 2019 report from the U.S. Department of Homeland Security Office of Inspector General that identified several problems with detention facilities operated by Geo Group, including "expired food, dilapidated and moldy bathrooms, and improper segregation, recreation and visitation practices."

    During a July 31 conference call with investors, Geo Group CEO George Zoley said media reports about the facilities are a false representation of the company's practices.

    https://www.bizjournals.com/southfl...budge-after-lawsuit.html?ana=yahoo&yptr=yahoo
     

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