The Financial Payoff of Prison Privatization

Diane Ravitch's blog

Donald Cohen of “In the Public Interest” reports that operators of private detention facilities are delighted with the Trump crackdown on immigrants . It is generating huge revenues and profits!

Last fall, Chief Executive Officer George Zoley of the publicly traded private prison corporation GEO Group told shareholders he was “very pleased” with recent financial results after the company “experienced improved occupancy rates across a number of our ICE [immigration detention] facilities” — and now we know why.

In an early March filing to those shareholders, GEO Group divulged that total compensation last year for its top corporate executives nearly doubled, jumping from $10.9 million to $20.3 million. Zoley really made out. Stock awards, which the corporation gives out when it profits more than it expected, boosted his compensation from $5.1 million to $9.6 million.

The GEO Group CEO better have thanked President Donald Trump for the big payday.

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