ICE/IMMIGRATION/PRISONS/TRUMP AS PRESIDENT: “The Trump administration’s new push for more federal detention facilities for immigrants awaiting asylum hearings or deportation has brightened the outlook for the country’s two largest private prison operators. Tennessee-based CoreCivic Inc. and Florida-based Geo Group had already been helped by higher federal spending on Immigration and Customs Enforcement. Now, the Trump administration is seeking $2.8 billion in the 2019 budget year to increase the number of beds in immigration detention centers to 52,000—49,500 adult and 2,500 family beds—from about 40,000 now, a spokeswoman said. Shares in both companies rose last month after ICE issued a notice that it may seek 15,000 new beds for families. An ICE official said it made the request for information on potential facilities and providers “in anticipation of the potential need to house a large number of family units” after Mr. Trump ended his policy of separating children at the southern border. So far this year, Geo’s shares are up 14%, while CoreCivic’s have risen 4.8%, according to FactSet.”
-Zusha Elinson, “Trump’s Immigrant-Detention Plans Benefit Private Prison Operators,” The Wall Street Journal, July 2, 2018 5:30 am