James Kilgore writes: Private corrections company The GEO Group celebrated the holiday season by opening a new 1,500 bed prison in Milledgeville, Georgia on December 12th. The $80 million facility is expected to generate approximately $28.0 million in annual revenues.
Though GEO (formerly Wackenhut) is hardly a household name, they are a major player in the private corrections sector, combining a self righteous amorality in profiting from human misery with a ruthless sense of just how to make a buck in this business. The GEO Group is so notorious that they were the target of an Occupy Washington D.C. action in early December. In addition, the United Methodist Church sold off more than $200,000 in stock in GEO Group over the holiday season, judging that holding these shares was “incompatible with Bible teaching.”
While such actions may irritate a few within the company’s rank, the GEO Group is thick-skinned. Over the years journalists have exposed a long history of violence, abuse and corruption in the company’s facilities. Such scandals would have driven most firms out of business, but GEO has always managed to find the way back to prosperity. While the U.S. economy has plummeted in the past eighteen months, GEO has been positioning itself for the future.