Private prison firm preps for 2020 ‘worst case scenario'
Added 11-15-19 09:22:02pm EST - “The head of a giant private prison company says his firm is prepared for the "worst case scenario" should a Democratic presidential candidate win the 2020 election and attempt to abolish private involvement in the prison sector.” - Washingtontimes.com
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NASHVILLE, Tenn. (AP) - The head of a giant private prison company says his firm is prepared for the “worst case scenario” should a Democratic presidential candidate win the 2020 election and attempt to abolish private involvement in the prison sector.
CoreCivic CEO Damon Hininger addressed such a potential scenario in the company’s latest earnings conference call last week when asked about the number of top Democratic presidential candidates who favor ending federal private prisons. He said Tennessee-based CoreCivic remains upbeat that the company would continue to earn money in such a scenario and noted the federal government currently does not have the infrastructure to house inmates without relying on private facilities.
“In worst case scenario, knowing half our business is with the states, nothing is going to change,” Hininger later said in a Friday phone interview with The Associated Press, echoing comments he made on the earnings call.
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He said that CoreCivic would still earn money should the federal government ever end its contract, saying his company would be able to sell or lease its real estate if that were to occur - stressing that such an effort would likely take years to phase-out and approval from Congress on appropriating enough funding to build new facilities and resources.
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