Private prisons ready to cash in on Trump’s deportations, WSJ says

Private prisons like Geo Group (GEO) CoreCivic (CXW) and other companies that provide detention services are getting ready to cash in on what President-elect Donald Trump has billed as “the largest domestic deportation operation in American history,” Elizabeth Findell, Tawnell Hobbs and Tarini Parti of Wall Street Journal report. Some executives are considering whether to take up the controversial work of detaining families or unaccompanied children, while others are preparing to hire new staff and lobbyists, according the Journal. Geo, which currently houses about 40% of Immigration and Customs Enforcement’s detainees, said on its last earnings call that it is looking at a potential doubling of all its services while, CoreCivic, the other major player in ICE detention centers, had a similar message for investors after the election, the paper points out.