A major U.S. private prison operator known for inmate abuse, violations, and disregard for the truth reported a 56-percent spike in profit in the first quarter of 2013, due in part to its new strategy for drastically reducing its taxes, the…
GEO Senior Vice President John Hurley assured investors during the call:
We have a longstanding partnership with the Federal Bureau of Prisons, the United States Marshal Service and US Immigration and Customs Enforcement or ICE. … We continue to see meaningful opportunities for us to partner with all three of these federal agencies, notwithstanding the various issues with the federal budget, which we believe will have no material negative impact on our business. The federal bureau of prisons continues to face capacity constraints coupled with a growing offender population.
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