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The Company is an owner and operator of privatized correctional and detention facilities and prison operator in the United States behind only the federal government and three states.
I didn't even realise there were private prisons! What a wonderful arena for capitalists! Take on the dirtiest job that the public sector doesn't want to do, do it cheaper and better (CXW builds its institutions more quickly and for less money then the government does) and you have a winner. Governments relish control, but only if they think there is more potential upside than downside - prisons don't fit that bill. People talk about potential government interference but I don't see it.The only realistic downside I can see if is states go bust and cannot fund private prisons. Other than that - in good times CXW will do it cheaper anyway; and in bad times when governments have no excess money they will be even more desperate to outsource their obligations to CXW.Other objections centre around bad publicity for private prisons, but hey - public ones get that anyway, and think about it - if you're a politician would you rather have to field questions about a poorly performing prison under your control, or just blame a private contractor? In the end money talks, and politicians would rather be able to deflect the blame than have to do the job properly. Sad but true...Ethical objections are a nonsense, and nothing to do with making a buck, so I won't even waste my breath on them here...I love this pick.
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