Correctional Services Corporation
Encyclopedia
Correctional Services Corporation (CSC), originally Esmor Correctional Corporation, was founded by James F. Slattery in 1987. It is located in Sarasota, Florida
, USA, and traded on the NASDAQ
(NASDAQ NMS:CSCQ). It is a corporation specializing in the privatization of correctional facilities for federal, state, and local agencies housing adults, juvenile, and Department Of Homeland Security prisoners.
Some of CSC's vitality is based on high crime-rates, as hinted in a 2002 statement by James F. Slattery: "Increases in parole rates combined with economic slowdowns traditionally lead to increased need for correctional services," he said. "We believe this historical pattern will be repeated and its effect felt in 2002 and beyond." The claimed advantage, or justification of privatized prisons is explained mostly in terms of cost; or an ability to perform correctional services at a cheaper cost than that of government operated services, by sidestepping bureaucracies.
Correctional Services Corp. received a $300,000 fine for buying votes in the state legislature, issued by the New York State Lobbying Commission.
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, USA, and traded on the NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
(NASDAQ NMS:CSCQ). It is a corporation specializing in the privatization of correctional facilities for federal, state, and local agencies housing adults, juvenile, and Department Of Homeland Security prisoners.
Some of CSC's vitality is based on high crime-rates, as hinted in a 2002 statement by James F. Slattery: "Increases in parole rates combined with economic slowdowns traditionally lead to increased need for correctional services," he said. "We believe this historical pattern will be repeated and its effect felt in 2002 and beyond." The claimed advantage, or justification of privatized prisons is explained mostly in terms of cost; or an ability to perform correctional services at a cheaper cost than that of government operated services, by sidestepping bureaucracies.
Correctional Services Corp. received a $300,000 fine for buying votes in the state legislature, issued by the New York State Lobbying Commission.
See also
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