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George Zoley

GEO Executive Calabrese selling millions of dollars in property

The private prison industry makes good sense for at least one group of well-heeled individuals - executives at the biggest private prison corporations who make big bucks operating these companies.  We reported last month GEO Group CEO George Zoley and chief operating officer Wayne Calabrese were amongst the highest paid south Florida executives

Now, Calabrese is selling two South Florida homes for a combined value of more than $3 million.  The first, a modest 1,810-square-foot house in the Boca Raton Riviera subdivision, is going for a mere $575,000.  The second is a 6,105-square-foot house Royal Palm Yacht & Country Club subdivision that is on the market for a less modest $2.475 million. Clearly, the prison business has been good to Mr. Calabrese.

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GEO execs amongst highest paid in South Florida

While GEO Group (NYSE: GEO) m

ay have recently lost contracts in Texas, the company's highest executives continue to earn handsome figures.  According to the Palm Beach Post ("102 best paid execs in PBC, TCoast for 2009," July 10), three of the highest paid corporate executives in Palm Beach County are GEO executives.  Top 2009 earners include:

George Zoley, GEO Group's CEO was the third highest earning executive in the Palm Beach area, taking in $7,059,003 in total compensation.

Wayne Calabrese, GEO Group's Chief Operating Officer, was 6th on the list earning $3,602,321 in total compensation last year.

John O'Rourke, GEO Group's outgoing CFO earned $2,274,951 in total compensation last year and was 9th on the list.

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