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Cash cruch boosts private prison profits

By Real Cost of Prisons Project (The Sentencing Project)

Cash crunch boosts government service firms By Helen Chernikoff, Reuters Wednesday February 20 2008 http://www.guardian.co.uk/feedarticle?id=7324401 NEW YORK, Feb 20 (Reuters) - The weakening U.S. economy has unleashed layoffs, reduced profits and sucked value from the stock market, but some companies, such as those that run prisons and consult for government, can benefit from harsh economic times. When state and local budgets see shortfalls, cash-strapped governments hire companies like management consultant Maximus Inc, social services provider Providence Service Corp and prison company Corrections Corp of America, according to analysts. Government belt-tightening could be a boon for a range of mid- and small-cap names whose share prices have in many cases fallen as far as more cyclical companies that really do suffer in a downturn...continue to full post

Full post as published by The Real Cost of Prisons Weblog on February 20, 2008 (boomark / email).