|An Odd Bird, Most Fowl|
I really didn't know what happened to Danworth Quayle, I honestly didn't care.
Until I started reading an article about Trump and how much he likes the idea of privatizing prisons.
I thought, hmmm, wonder who's lobbying for that?
That's when I found out about Hobart Ventures and the group that has retained them for their lobbying services, The Corrections Corp of America.
Sounds a little like the Peace Corp of Incarceration.
So who's a "strategic advisor" for Hobart (HHQ Ventures)?
J. Danworth Quayle, shocker!
HHQ "works in Washington D.C., but lives in the 'real world" according to the website. "The real world" of lobbying for Corrections Corp of America, (rebranded as Core Civic) procuring "The First and Largest Private Prison Owner" government contracts.
I clicked and found out that they have one such government contract "to accommodate up to 500 detainees" Currently they are detaining 600 detainees in their 2,016 bed (sounds like a hospital, right?) correctional facility.
I wonder exactly, how much a government contract is worth?
Plowing through the shareholders report, I noticed lots of bragging about shareholder value, its time consuming just trying to get to the value of the government contracts that's footing the bill for Core Civic & being able to afford to pay Dan Quayle for his lobbying efforts.
What I like best is this; "Taxpayers also benefit from government agencies partnering with CCA. Whether new bed capacity is needed or old, antiquated facilities need to be replaced, partnering with CCA means taxpayers do not incur the upfront capital investment which can often reach hundreds of millions of dollars."
Correct me if I'm wrong, but aren't government agencies funded by tax dollars?
"Every day we remain focused on providing high-quality, safe and secure facilities that meet the needs of our government partners. By consistently doing so, we have experienced more than three decades of continued growth and contract retention rates in excess of 90 percent."
"our ability to meet and maintain qualification for taxation as a real estate investment trust, or REIT" essentially, leasing space,(See below for explanation of REIT*) "facilities owned by our government partners" and they pay no federal income tax, 92015 tax form 10k, Payments by federal correctional and detention authorities represented 51%, 44%, and 44% of our total revenue.
That's not all, not only do they lease out private correctional facilities to their "government partners"
"We currently provide transportation services to governmental agencies through our whollyowned TRS, TransCor America, LLC, or TransCor. During the years ended December 31, 2015, 2014, and 2013, TransCor generated total revenue of $4.1 million," pg. 12
"Despite our increase in federal revenue, inmate populations in federal facilities, particularly within the BOP system nationwide, have declined over the past two years." Remember, they pay no Federal taxes, because of the deficit and budget cuts, the funding has been cut. So, that's disappointing.
We provide space and services under contracts with federal, state, and local government agencies that generally have credit ratings of single-A or better. In addition, a majority of our contracts have terms between one and five years, and we have historically experienced customer retention of approximately 90%, which contributes to our relatively predictable and stable revenue base. This stream of revenue combined with our low maintenance capital expenditure requirement translates into steady predictable cash flow. We believe the REIT structure also provides us with greater access to capital and flexibility to pursue growth opportunities. pg 14, (*Real Estate Investment Trust; avoid most or all tax liabilities,)
'The demand for capacity in the short-term has been affected by the budget challenges many of our government partners currently face." pg. 24 (ie; less money for government contracts)
'we have created new business opportunities with customers that have not previously utilized the private corrections sector, expanded relationships with existing customers, including all three federal correctional and detention agencies, converted to a REIT,' pg.14
This next offering made me laugh for all the wrong reasons;
"As an alternative to providing "turn-key" correctional bed space and services to our government partners,
"we also offer our customers an attractive portfolio of prison facilities"pg.24
Sorry, but, an attractive portfolio of prison facilities?????????
This is the best part "Any or all of our forward-looking statements in this Annual Report may turn out to be inaccurate." Ooops!
I could go on and on, but an attractive portfolio of prison facilities is sickening.
So the next place I go to in my head is; uh-oh, there has to be problems with these psychopaths who think prisoners are a for profit situation and surprise, surprise! It's the employees they are abusing; History of wage violations, poor treatment of employees, I am sure that is just scratching the surface. If employees are having problems, what is happening to the prisoners?
The CCA passed it's thirty year anniversary, read about it here, Not much to celebrate, unless you're Dan Quayle, or you're on the Board of Directors for CCA, like Thurgood Marshall Junior, Yes, the son, of THAT Thurgood Marshall, Supreme Court Justice. I'm sure his Dad would be so proud.
President-Elect Trump is on board with the whole privatization of prisons, it's nothing new and has been going on for quite some time, When Vice President Pence is finished his term as VP, maybe fellow Hoosier, Dan Quayle can guide him in his post-VP lobbying career.
I just hope he keeps his spelling pointers to himself.