What private prison corp GEO/Wackenhut doesn't want shareholders to hear

Here's what GEO, formerly Wackenhut, doesn't want shareholders to hear:


GEO: Here’s what GEO doesn’t want shareholders to hear:
http://seekingalpha.com/article/103721-the-geo-group-inc-q3-2008-qtr-end-9-28-08-earnings-call-transcript?page=8

The following was edited out from GEO’s teleconference call:

Operator

Our next question comes from [Analyst for Brad Driver - Cirius].

[Analyst for Brad Driver - Cirius]

Your company was just charged with murder and manslaughter in Texas. Your comment?

George C. Zoley

First, laughter. But then Wayne could you update him on that?

Wayne H. Calabrese

Yes. The indictment was dismissed I want to say Friday. It could have been Thursday.

[Analyst for Brad Driver - Cirius]

Are you sure?

Wayne H. Calabrese

Yes, I am.

[Analyst for Brad Driver - Cirius]

Kenneth Keith Kallenbach dying in your Delaware County facility in April. The US Department of Justice may be looking into this. Your position on this?

George C. Zoley

We have no information or comment on that.

[Analyst for Brad Driver - Cirius]

Can you tell me what you do at Guantanamo Bay?

George C. Zoley

We have a contract with the federal agency for the housing of detainees that they bring to the facility.

[Analyst for Brad Driver - Cirius]

Overall, your track record in terms of prisoners dying. Do you have any thoughts on that?

George C. Zoley

We think our track record is exceptional. We provide medical care in accordance with ACA and the National Commission on Correctional Health Care Requirements and we’d put our record up against any other public or private agency, not just in the United States but around the world. We’re very proud of the efforts we make and the results we get.

[Analyst for Brad Driver - Cirius]

But in Delaware County, Pennsylvania alone according to published reports perhaps half a dozen or more deaths in the past year.

George C. Zoley

Many of the deaths have been natural causes and all of them have been examined very closely by ourselves and where necessary by the authorities. We’ve cooperated fully in every investigation that’s been conducted by outside agencies and again we stand by our record of performance.

[Analyst for Brad Driver - Cirius]

But you have had to pay good amounts of money in terms of settlements.

George C. Zoley

That’s the nature of the business. It’s a jail business where people come in right off the streets under different conditions of medical care and it’s a hazardous business, and that’s why we’ve decided to leave that business. We are discontinuing that contract in the next two months.