Correctional Services Corporation

Correctional Services Corporation

Correctional Services Corporation (CSC), originally Esmor Correctional Corporation, was founded by James F. Slattery in 1987. It was located in Sarasota, Florida, USA, and traded on the NASDAQ (NASDAQ NMS:CSCQ). It had been a corporation specializing in the privatization of correctional facilities for federal, state, and local agencies housing adults, juvenile, and Department Of Homeland Security prisoners.

Much of CSC's profits were allegedly based on high crime-rates, as hinted in a 2002 statement by James F. Slattery: "Increases in parole rates combined with economic slowdowns traditionally lead to increased need for correctional services," he said. "We believe this historical pattern will be repeated and its effect felt in 2002 and beyond." The claimed advantage, or justification of privatized prisons is explained mostly in terms of cost; an alleged ability to perform correctional services at a cheaper cost than that of government operated services, by sidestepping bureaucracies.

Correctional Services Corp. received a $300,000 fine for buying votes in the state legislature, issued by the New York State Lobbying Commission.

In 2005, CSC was sold to GEO Group for $62.1 million, though GEO divested the youth portion of the enterprise, Youth Services International, back to its principals.

Read more about Correctional Services Corporation:  Principals, See Also

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