September 30, 2011
Florida private prison plan blocked by judge, privateer stock takes a dive
Geo Group Inc., the Florida-based private prison operator, fell as much as 5 percent after a judge blocked the state’s plan to pursue privatization at as many as 29 prisons in 18 counties.
The state legislature’s move to bury key details on privatization in the state budget is “unconstitutional,” Leon County Circuit Court Judge Jackie Fulford in Tallahassee ruled. The 2012 budget provision changes the statutory process for privatizing facilities and directs the Department of Corrections to replace state employees at particular prisons with private operators...
LINK - BusinessWeek.com
