Private Prison Company Frees Itself From Its Old Corporate Identity
Private Prison Company Frees Itself From Its Old Corporate Identity
The Corrections Corporation of America would now like to be known as CoreCivic.
Becca AndrewsOct. 28, 2016 2:46 PM
The Corrections Corporation of America, the private prison company that was the subject of a recent Mother Jones investigation, has announced that it's rebranding itself in the wake of increased scrutiny of the for-profit prison industry. CCA will now be known as CoreCivic, a "diversified government solutions company." Don't let the corporatespeak fool you; it will remain a private prison corporation offering "high quality corrections and detention management."
The makeover comes after a slew of bad news for the company. After Mother Jones published its investigation, the Department of Justice announced it would phase out its use of private prisons. The Department of Homeland Security said it would reevaluate its relationship with private prisons. CCA shareholders filed a class action lawsuit against the company for allegedly failing to disclose that its practices could put its government contracts in jeopardy. Over the past six months, CCA's stock price has fallen more than 50 percent, and the company announced a round of layoffs last month.
READ MORE: http://www.motherjones.com/politics/2016/1...
The Corrections Corporation of America would now like to be known as CoreCivic.
Becca AndrewsOct. 28, 2016 2:46 PM
The Corrections Corporation of America, the private prison company that was the subject of a recent Mother Jones investigation, has announced that it's rebranding itself in the wake of increased scrutiny of the for-profit prison industry. CCA will now be known as CoreCivic, a "diversified government solutions company." Don't let the corporatespeak fool you; it will remain a private prison corporation offering "high quality corrections and detention management."
The makeover comes after a slew of bad news for the company. After Mother Jones published its investigation, the Department of Justice announced it would phase out its use of private prisons. The Department of Homeland Security said it would reevaluate its relationship with private prisons. CCA shareholders filed a class action lawsuit against the company for allegedly failing to disclose that its practices could put its government contracts in jeopardy. Over the past six months, CCA's stock price has fallen more than 50 percent, and the company announced a round of layoffs last month.
READ MORE: http://www.motherjones.com/politics/2016/1...
