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: The Real Cost of Prisons Weblog

CCA loses contract in for caging immigrants in CA but gets a renewed contact for immigrant prisons in NM

By Real Cost of Prisons Project (The Sentencing Project)

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CCA loses part of federal contract Company says rising California wages to blame for Bureau of Prisons decision Email | Print By Geert De Lombaerde 01-13-2010 8:44 AM ? The Federal Bureau of Prisons has not renewed its contract with Corrections Corp. of America to manage more than 2,000 inmates now housed in California under the Criminal Alien Requirement program. The contract, which has been awarded to Cornell Cos., will take about $22 million annually ? about 12 cents per diluted share ? off CCA's bottom line, estimated Avondale Partners analyst Kevin Campbell. Nashville-based CCA ? which did get a renewed BOP deal to manage 1,200 inmates in New Mexico ? had been expected to earn $1.40 per share in 2010. In a statement, CCA President and CEO Damon Hininger said the company believes the BOP's move is based primarily on "escalating federal wage determination costs in California, and does not reflect the quality of operations our company and staff have provided to the BOP...continue to full post

Full post as published by The Real Cost of Prisons Weblog on January 15, 2010 (boomark / email).