CoreCivic Inc. (NYSE: CXW): A Bull Case Thesis
We came across a bullish CoreCivic Inc. (CXW) thesis on ValueInvestorsClub by agape1095. We follow VIC because their analysts put a lot of effort to do their research about stocks. We find the ideas presented on the site well thought out and definitely worth checking. Click here for the full article about CXW. Below we summarized the CXW bullish thesis:
Formerly known as the Corrections Corporation of America, CoreCivic (CXW) owns and manages private prisons and detention centers. It also provides residential re-entry centers (RRC). The RRCs are transitional housing facilities that provide structured, safe and supervised environments for residents and help them develop tools they need to rebuild their ties to the community. It also owns a non-core portfolio of office buildings leased to government agencies, which is earmarked for sale to reduce debt. The prison segment accounts for 85% of the net operating income. CXW, at present, is a
President Joe Biden's recent executive order to phase out the federal government's use of private prisons is a welcome start to what needs to be a broad reform of the prison system where profit-based incentives to incarcerate run deep, says Jeffrey Bornstein at Rosen Bien.
Guest Commentary On Tuesday, President Biden called for an end to the use of private prisons in the Department of Justice. I’m glad to hear we’re taking this step as a country because it’s heinous that people profit off of incarceration. But this is also a good time to highlight the growth of privatization across the policing and prison industrial complex, which will not be impacted by this executive order. Here in Saranac Lake, for example, the village has hired Lexipol, a private firm that has repeatedly come under scrutiny for its use-of-force policies following officer-involved shootings of unarmed black men. Lexipol has been hired to rewrite our police policy and local policing manuals. Meanwhile, communities and activists are calling for democratization and a reimagining of justice systems at local, state and national levels. Profit-driven systems will always be an enemy to democratic processes and the creative work required to actually build safe, diverse and caring
The organization says the Coffee Correctional Facility has neglected the safety of prisoners.
Published January 27th
Written by Madison J. Gray
The NAACP has filed suit against the Georgia Department of Corrections and the Coffee Correctional Facility in Nicholls, Ga. The civil rights organization is calling out the privately run prison for allegedly leaving an already vulnerable inmate population more susceptible to coronavirus exposure.
According to a statement from the Georgia NAACP, inmates are forced to sleep in tight quarters in their dormitories with little or no space between them, poor sanitation, and infrequent COVID-19 testing. About 60 percent of Georgia’s prison population is Black, according to a study from the Vera Institute of Justice.