Earlier this month, the Corrections Corporation of America held it's second quarter earnings call
. These calls often give information about where the company expects new opportunities given the current climate on corrections. They also remind us of the scope of the for-profit private prison industry. Company officials reported they are actively pursuing nearly 40,000 new beds
and new incremental opportunities that could be decided in the next year --estimating a possible $700 million in revenues
Given the current economic crisis and fiscal constraints that most state are facing, CCA reps reminded it's audience that not one of the states is appropriating money for new prisons. In fact due to financial problems a few states -- including Texas -- have cut corrections costs and are planning to close prisons this year1.