We are one week away from our COMMUNITY JUSTICE DIALOGUE at the Center for Hawaiian Studies (Thursday, November 17th from 5:30 – 7:30 pm) – see flyer. Please invite folks to attend.
In the aftermath of the presidential election, it looks like the corporate prisons are the big beneficiaries as their stock is rising. This could mean reversal of the DOJʻs intention to phase out these profiteers. There are two articles about that and the last article is finding some bright spots of criminal justice reform in this quagmire.
Private Prison Stocks Are Surging After Trump’s Win
Tracy Alloway, Lily Katz, Bloomberg, Nov. 9, 2016
“Two companies that operate detention facilities in the U.S. are breaking out. Donald Trump’s victory in the presidential elections helped shares of Corrections Corp. rise as much as 60 percent before paring their surge to 34 percent by 10:14 a.m. in New York, while GEO Group Inc. was trading 18 percent higher by the same time.”
Private Prisons Are “Clear Beneficiaries” Of Trump Presidency
The stocks of publicly traded prison companies are soaring.
Matthew Zeitlin, BuzzFeed News Reporter, Nov. 9, 2016
“The stocks of publicly traded private prison companies are soaring early Wednesday in the first day of trading following Donald Trump’s shocking electoral victory.
“Many traders seem to expect a Trump administration to reverse the Obama administration’s August decision to not use privately run facilities to house federal prisoners, or to expand these companies’ involvement in immigration detention.
“Shares of GEO Group are up over 17.5% to $28, while shares of CCA (Corrections Corporation of America) are up 34% to $19. The companies’ shares had fallen at least 35% on the day DOJ announced its policy change this past summer.
“Analysts at Compass Point called for-profit prisons a “clear beneficiary” of a Trump administration. The companies were “were likely to face negative headlines and persistent contract uncertainty under a Clinton White House,” but the analysts predicted that a Trump administration would be “more supportive given its focus on immigration and crime.”
Believe it or not, it was a pretty good night for criminal-justice reform
Radley Balko, Washington Post, Nov. 9, 2016
Excerpt (last paragraph):
“To sum up, if Trump sticks to the rhetoric and promises we heard during the campaign, the next four years — at least at the federal level — look to be a dark age for reform. The names he’s floating for cabinet positions are nightmarish. But there are still good reasons for reformers to feel optimistic about where voters stand on criminal-justice issues. Yes, America just elected a demagogue. But I’ve seen little evidence that they did so because of his grandstanding on these issues (with the obvious and important exception of immigration). Moreover, given Hillary Clinton’s record, for anyone who wanted to vote on these issues, there really wasn’t much in the way of an inspiring and viable alternative. While that’s probably of little comfort for reformers, good news does come down ballot, where even in an overwhelmingly red election, voters in very red states and counties still managed to drive eight more nails into the coffin of pot prohibition, reject overly punitive prosecutors (and one exceptionally awful sheriff) and embrace reforms aimed at rehabilitation and redemption. Trump’s election aside, there’s still a strong appetite for reform at the state and local level.”
To paraphrase the words of Bette Davis: Fasten your seat belts, itʻs going to be a bumpy ride.
The integrity of men is to be measured by their conduct, not by their professions. – Junius