Release – CoreCivic Announces 2021 Fourth Quarter Earnings Release and Conference Call Dates



CoreCivic Announces 2021 Fourth Quarter Earnings Release and Conference Call Dates

Research, News, and Market Data on CoreCivic

 

BRENTWOOD, Tenn., Jan. 28, 2022 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2021 fourth quarter financial results after the market closes on Wednesday, February 9, 2022.

A live broadcast of CoreCivic’s conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, February 10, 2022, and will be accessible through the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. The live broadcast can also be accessed by dialing 877-614-0009 in the U.S. and Canada, including the confirmation passcode 8591205. An online replay of the call will be archived on our website promptly following the conference call. In addition, there will be a telephonic replay available beginning at 1:15 p.m. central time (2:15 p.m. eastern time) on February 10, 2022, through 1:15 p.m. central time (2:15 p.m. eastern time) on February 18, 2022. To access the telephonic replay, dial 888-203-1112 in the U.S. and Canada. International callers may dial +1 719-457-0820 and enter passcode 8591205.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Contact: Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

CoreCivic Announces 2021 Fourth Quarter Earnings Release and Conference Call Dates



CoreCivic Announces 2021 Fourth Quarter Earnings Release and Conference Call Dates

Research, News, and Market Data on CoreCivic

 

BRENTWOOD, Tenn., Jan. 28, 2022 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2021 fourth quarter financial results after the market closes on Wednesday, February 9, 2022.

A live broadcast of CoreCivic’s conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, February 10, 2022, and will be accessible through the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. The live broadcast can also be accessed by dialing 877-614-0009 in the U.S. and Canada, including the confirmation passcode 8591205. An online replay of the call will be archived on our website promptly following the conference call. In addition, there will be a telephonic replay available beginning at 1:15 p.m. central time (2:15 p.m. eastern time) on February 10, 2022, through 1:15 p.m. central time (2:15 p.m. eastern time) on February 18, 2022. To access the telephonic replay, dial 888-203-1112 in the U.S. and Canada. International callers may dial +1 719-457-0820 and enter passcode 8591205.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Contact: Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

Walmarts Metaverse NFT and Crypto Plans


Image Credit: JJBers (Flickr)

Recent Patent Filings Show the Extent that Large Companies are Prepping for Blockchain Profits

 

What would a Walmart metaverse look and feel like? How valuable would a Walmart cryptocurrency become? Could the world’s largest department store, known for value-priced merchandise, successfully “stock” sought-after NFTs? As many as seven filings made Dec. 30 at the U.S. Patent and Trademark Office (USPTO) together could lay out a roadmap of Walmart’s intention to expand into digital assets and all the digital possibilities provided by the metaverse.

The world’s second-largest retailer by sales is following a number of other highly successful companies developing a digital arm with a look toward the perceived future. This includes blockchain products such as digital currency, NFTs, and the 3-D experiences available through the metaverse. If the business plan follows most others, one-of-a-kind digital products (NFTs) will be available on a metaverse platform with a virtual place to shop.  The currency? A Walmart coin.

The filings at the USPTO include the provision of a Walmart virtual currency including exchange services via blockchain technology. A separate application to the USPTO describes downloadable software for uses ranging from managing a portfolio of cryptocurrencies to e-commerce and augmented reality creation.

Games

In one of the filings, Walmart details the possibility of a virtual reality game and an online retail service with a marketplace of digital goods authenticated by NFTs. These goods could range from coffee makers, to exercise bikes, children’s toys, easy chairs, whatever makes the user’s experience more fulfilling in the Walmart metaverse.

According to a quote in Barrons’ attributed to a “company spokesman” Walmart routinely files patents. The spokesman said, “Walmart is continuously exploring how technologies may shape the future of shopping experiences.” The filings are described as “super intense” according to trademark attorney, Josh Gerben, “There’s a lot of language in these, which shows that there’s a lot of planning going on behind the scenes about how they’re going to address cryptocurrency, how they’re going to address the metaverse and the virtual world that appears to be coming or that’s already here.” Gerben said that ever since Facebook announced it was changing its company name to Meta, signaling its ambitions beyond social media, businesses have been rushing to figure out how they will fit into a virtual world. “All of a sudden, everyone is like, this is becoming super real and we need to make sure our IP is protected in the space,’” said the trademark attorney.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



Walmart’s Blockchain History to Add a New Chapter



With Inflation Pushing Up the COLA on Social Security, Investing Where Seniors Spend Could Pay Off!





Is Amazon Getting Primed for Cryptocurrencies?



Elon Musk, Jack Dorsey, and Cathie Wood Drop Bombshells at Bitcoin Conference

 

 

Sources

https://www.4029tv.com/article/amazon-surpasses-walmart/37342527#

https://www.uspto.gov/

https://www.gerbenlaw.com/news/cnbc-discusses-walmarts-metaverse-trademarks-with-josh-gerben/

https://www.cnbc.com/2022/01/16/walmart-is-quietly-preparing-to-enter-the-metaverse.html

https://www.barrons.com/articles/walmart-plans-to-enter-the-metaverse-with-crypto-and-nfts-51642421072

 

Stay up to date. Follow us:

 

Walmart’s Metaverse, NFT, and Crypto Plans


Image Credit: JJBers (Flickr)

Recent Patent Filings Show the Extent that Large Companies are Prepping for Blockchain Profits

 

What would a Walmart metaverse look and feel like? How valuable would a Walmart cryptocurrency become? Could the world’s largest department store, known for value-priced merchandise, successfully “stock” sought-after NFTs? As many as seven filings made Dec. 30 at the U.S. Patent and Trademark Office (USPTO) together could lay out a roadmap of Walmart’s intention to expand into digital assets and all the digital possibilities provided by the metaverse.

The world’s second-largest retailer by sales is following a number of other highly successful companies developing a digital arm with a look toward the perceived future. This includes blockchain products such as digital currency, NFTs, and the 3-D experiences available through the metaverse. If the business plan follows most others, one-of-a-kind digital products (NFTs) will be available on a metaverse platform with a virtual place to shop.  The currency? A Walmart coin.

The filings at the USPTO include the provision of a Walmart virtual currency including exchange services via blockchain technology. A separate application to the USPTO describes downloadable software for uses ranging from managing a portfolio of cryptocurrencies to e-commerce and augmented reality creation.

Games

In one of the filings, Walmart details the possibility of a virtual reality game and an online retail service with a marketplace of digital goods authenticated by NFTs. These goods could range from coffee makers, to exercise bikes, children’s toys, easy chairs, whatever makes the user’s experience more fulfilling in the Walmart metaverse.

According to a quote in Barrons’ attributed to a “company spokesman” Walmart routinely files patents. The spokesman said, “Walmart is continuously exploring how technologies may shape the future of shopping experiences.” The filings are described as “super intense” according to trademark attorney, Josh Gerben, “There’s a lot of language in these, which shows that there’s a lot of planning going on behind the scenes about how they’re going to address cryptocurrency, how they’re going to address the metaverse and the virtual world that appears to be coming or that’s already here.” Gerben said that ever since Facebook announced it was changing its company name to Meta, signaling its ambitions beyond social media, businesses have been rushing to figure out how they will fit into a virtual world. “All of a sudden, everyone is like, this is becoming super real and we need to make sure our IP is protected in the space,’” said the trademark attorney.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



Walmart’s Blockchain History to Add a New Chapter



With Inflation Pushing Up the COLA on Social Security, Investing Where Seniors Spend Could Pay Off!





Is Amazon Getting Primed for Cryptocurrencies?



Elon Musk, Jack Dorsey, and Cathie Wood Drop Bombshells at Bitcoin Conference

 

 

Sources

https://www.4029tv.com/article/amazon-surpasses-walmart/37342527#

https://www.uspto.gov/

https://www.gerbenlaw.com/news/cnbc-discusses-walmarts-metaverse-trademarks-with-josh-gerben/

https://www.cnbc.com/2022/01/16/walmart-is-quietly-preparing-to-enter-the-metaverse.html

https://www.barrons.com/articles/walmart-plans-to-enter-the-metaverse-with-crypto-and-nfts-51642421072

 

Stay up to date. Follow us:

 

CoreCivic Inc. (CXW) – A Significant Win

Tuesday, January 11, 2022

CoreCivic, Inc. (CXW)
A Significant Win

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. We are a publicly traded real estate investment trust and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Arizona Win. Yesterday, CoreCivic announced that the Company was awarded a new contract with the state of Arizona for up to 2,706 adult male inmates to be housed at the Company’s 3,060 bed La Palma Correctional Center in Eloy, Arizona. This is a significant award for the Company, in our view, as it is the largest prison contract awarded in the private sector by any state in over a decade.

    Contract Details.  The contract has an initial term of five years, with one extension option for up to five years. The Company and Arizona Department of Corrections are currently working on a ramp plan that is expected to begin late in the first or early in the second quarter of 2022. Upon full utilization of the new contract, the Company expects to generate approximately $75 million to $85 million …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

The GEO Group Inc. (GEO) – What Do The Debt Negotiations Reveal

Tuesday, January 11, 2022

The GEO Group, Inc. (GEO)
What Do The Debt Negotiations Reveal?

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Debt Negotiations. Late last week, GEO filed an 8-K with the SEC highlighting confidential discussions that the Company has engaged in with certain holders of its secured debt concerning a potential refinancing, exchange, recapitalization, or other transaction. While no agreement has been reached yet, negotiations are expected to continue.

    Business Model Highlights.  We believe the presentation highlights the strength of GEO’s operating model. For example, management’s long-term financial forecast anticipates relatively flat revenues, adjusted EBITDA, and unlevered free cash flow through the 2024 forecast period, even factoring in the negative impact of the President’s executive order …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

NFTs are Being Used to Unlock Revenue in Old Industries


Image Credit: Manhaii (Flickr)

Non-Fungible-Tokens Have Become a New Revenue Source for Once Stodgy Institutions

 

Announcements of innovative and creative uses for non-fungible tokens (NFT) have become almost weekly events. The underlying blockchain technology most recognized for its cryptocurrency benefits is seeing tremendous potential growth with NFTs. This week’s big NFT announcement is something that has never been done before. It came from the American news service, Associated Press (AP). The companies 175-year-old treasure trove of images will be used via NFT sales to fund growth into other journalistic pursuits.

In their news release, AP said they plan to open an NFT marketplace with the first offering to debut on Monday, Jan. 31. The initial collection will feature photography by current and former AP photojournalists and a selection of digitally enhanced depictions of their work. These works will include Pulitzer Prize-winning AP images.  The marketplace will use the Xooa platform.

“For 175 years AP’s journalists have recorded the world’s biggest stories, including through gripping and poignant images that continue to resonate today,” said Dwayne Desaulniers, AP director of blockchain and data licensing. “With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors.”

Each NFT will include a comprehensive set of metadata to heighten collectors’ awareness of the time, date, location, equipment, and technical settings used for the shot.

The company said the initial collection will be released over a period of weeks beginning Jan. 31. NFT subjects will range from space, climate, war, and other images to spotlight the work of specific AP photographers.

NFT price points will vary. As a not-for-profit news cooperative, proceeds go back into funding AP journalism.

Collectors of all levels will be able to seamlessly buy, sell and trade official AP digital collectibles through the marketplace. It will support secondary market transactions and purchases using credit card payments as well as crypto wallets, including MetaMask, with support for Fortmatic, Binance, and Coinbase (NASDAQ: COIN) to come.

The NFTs will be minted on the Polygon blockchain, which is an environmentally friendly, Ethereum-compatible layer two solution.

“Xooa is proud to work with The Associated Press to launch AP’s NFT marketplace. Xooa’s work with brands around NFTs and metaverse marketplaces provides inherent scarcity and utility for collectors as well as a powerful connection between the virtual world and the real world,” said Zach Danker-Feldman, Xooa’s head of marketplaces. “In this marketplace deployment, emphasis has been placed on accessibility for all types of collectors to empower them to join a community that shares their interest in stunning photography.”

 

Take-Away

There are new ways companies are finding to benefit from blockchain-derived NFTs. Even a 175-year-old company is finding value and a way to unlock that value in its rich history of photos and other images. The AP plans to launch its NFT marketplace on January 31st. It will sell cryptographically-signed versions of its award-winning photographs.

 

Suggested Reading:



Making Sense of Non-Fungible Tokens – Living in a Digital World



Fractional NFTs, Metaverse-Museums, and Crypto-Brokers





Attend Paris Hilton’s Metaverse NYE Party



Blockchain 2022 – What’s Next?

 

Sources:

https://www.tweaktown.com/news/83925/associated-press-to-sell-decades-worth-of-historic-photos-as-nfts/index.html

https://apmarket.xooa.com/p/join-waiting-list

 

 

 

Stay up to date. Follow us:

 

The GEO Group, Inc. (GEO) – What Do The Debt Negotiations Reveal?

Tuesday, January 11, 2022

The GEO Group, Inc. (GEO)
What Do The Debt Negotiations Reveal?

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Debt Negotiations. Late last week, GEO filed an 8-K with the SEC highlighting confidential discussions that the Company has engaged in with certain holders of its secured debt concerning a potential refinancing, exchange, recapitalization, or other transaction. While no agreement has been reached yet, negotiations are expected to continue.

    Business Model Highlights.  We believe the presentation highlights the strength of GEO’s operating model. For example, management’s long-term financial forecast anticipates relatively flat revenues, adjusted EBITDA, and unlevered free cash flow through the 2024 forecast period, even factoring in the negative impact of the President’s executive order …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

CoreCivic, Inc. (CXW) – A Significant Win

Tuesday, January 11, 2022

CoreCivic, Inc. (CXW)
A Significant Win

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. We are a publicly traded real estate investment trust and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Arizona Win. Yesterday, CoreCivic announced that the Company was awarded a new contract with the state of Arizona for up to 2,706 adult male inmates to be housed at the Company’s 3,060 bed La Palma Correctional Center in Eloy, Arizona. This is a significant award for the Company, in our view, as it is the largest prison contract awarded in the private sector by any state in over a decade.

    Contract Details.  The contract has an initial term of five years, with one extension option for up to five years. The Company and Arizona Department of Corrections are currently working on a ramp plan that is expected to begin late in the first or early in the second quarter of 2022. Upon full utilization of the new contract, the Company expects to generate approximately $75 million to $85 million …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – CoreCivic Awarded New Contract with the State of Arizona at the La Palma Correctional Center



CoreCivic Awarded New Contract with the State of Arizona at the La Palma Correctional Center

Research, News, and Market Data on CoreCivic

 

BRENTWOOD, Tenn., Jan. 10, 2022 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it has been awarded a new contract with the State of Arizona for up to 2,706 adult male inmates on behalf of the Arizona Department of Corrections, Rehabilitation & Reentry (ADCRR) at the Company’s 3,060-bed La Palma Correctional Center in Eloy, Arizona.

The new management contract has an initial term of five years, with one extension option for up to five years thereafter upon mutual agreement. The Company and ADCRR are currently working on a ramp plan that is expected to begin late in the first or early in the second quarter of 2022. Upon full utilization of the new contract the Company expects to generate approximately $75 million to $85 million in annualized revenue.

“We are delighted to have again been selected by the Arizona Department of Corrections, Rehabilitation & Reentry to provide them modern correctional facility capacity and services as they transition away from and close the outdated Arizona State Prison Complex – Florence,” said Damon Hininger, CoreCivic’s President and Chief Executive Officer. “The new contract is the largest prison contract awarded to the private sector by any state in over a decade. However, it is only a small representation of the serious correctional infrastructure challenges facing state and local government around the country and the flexible solutions we can provide.”

The La Palma Correctional Center currently supports the mission of Immigration and Customs Enforcement (ICE) by caring for approximately 1,900 detainees. As the new contract with Arizona commences and state inmates are accepted at the facility, the Company expects to work closely with ICE to transfer their detainee populations to other facilities within the region.

About CoreCivic

CoreCivic is a diversified government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Forward-Looking Statements

This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy (including the United States Department of Justice, or DOJ, not renewing contracts as a result of President Biden’s Executive Order on Reforming Our Incarceration System to Eliminate the Use of Privately Operated Criminal Detention Facilities, or the Private Prison EO) (two agencies of the DOJ, the United States Federal Bureau of Prisons and the United States Marshals Service utilize our services), legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government, and the impact of any changes to immigration reform and sentencing laws (our company does not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (v) fluctuations in our operating results because of, among other things, changes in occupancy levels, competition, contract renegotiations or terminations, increases in costs of operations, fluctuations in interest rates and risks of operations; (vi) the duration of the federal government’s denial of entry at the United States southern border to asylum-seekers and anyone crossing the southern border without proper documentation or authority in an effort to contain the spread of COVID-19; (vii) government and staff responses to staff or residents testing positive for COVID-19 within public and private correctional, detention and reentry facilities, including the facilities we operate; (viii)  restrictions associated with COVID-19 that disrupt the criminal justice system, along with government policies on prosecutions and newly ordered legal restrictions that affect the number of people placed in correctional, detention, and reentry facilities, including those associated with a resurgence of COVID-19; (ix) whether revoking our REIT election, effective January 1, 2021, and our revised capital allocation strategy can be implemented in a cost effective manner that provides the expected benefits, including facilitating our planned debt reduction initiative and planned return of capital to shareholders; (x) our ability to successfully identify and consummate future development and acquisition opportunities and realize projected returns resulting therefrom; (xi) our ability, following our revocation of our REIT election, to identify and initiate service opportunities that were unavailable under the REIT structure; (xii) our ability to have met and maintained qualification for taxation as a REIT for the years we elected REIT status; and (xiii) the availability of debt and equity financing on terms that are favorable to us, or at all. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.

CoreCivic takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.

Contact: Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

CoreCivic Awarded New Contract with the State of Arizona at the La Palma Correctional Center



CoreCivic Awarded New Contract with the State of Arizona at the La Palma Correctional Center

Research, News, and Market Data on CoreCivic

 

BRENTWOOD, Tenn., Jan. 10, 2022 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it has been awarded a new contract with the State of Arizona for up to 2,706 adult male inmates on behalf of the Arizona Department of Corrections, Rehabilitation & Reentry (ADCRR) at the Company’s 3,060-bed La Palma Correctional Center in Eloy, Arizona.

The new management contract has an initial term of five years, with one extension option for up to five years thereafter upon mutual agreement. The Company and ADCRR are currently working on a ramp plan that is expected to begin late in the first or early in the second quarter of 2022. Upon full utilization of the new contract the Company expects to generate approximately $75 million to $85 million in annualized revenue.

“We are delighted to have again been selected by the Arizona Department of Corrections, Rehabilitation & Reentry to provide them modern correctional facility capacity and services as they transition away from and close the outdated Arizona State Prison Complex – Florence,” said Damon Hininger, CoreCivic’s President and Chief Executive Officer. “The new contract is the largest prison contract awarded to the private sector by any state in over a decade. However, it is only a small representation of the serious correctional infrastructure challenges facing state and local government around the country and the flexible solutions we can provide.”

The La Palma Correctional Center currently supports the mission of Immigration and Customs Enforcement (ICE) by caring for approximately 1,900 detainees. As the new contract with Arizona commences and state inmates are accepted at the facility, the Company expects to work closely with ICE to transfer their detainee populations to other facilities within the region.

About CoreCivic

CoreCivic is a diversified government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Forward-Looking Statements

This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy (including the United States Department of Justice, or DOJ, not renewing contracts as a result of President Biden’s Executive Order on Reforming Our Incarceration System to Eliminate the Use of Privately Operated Criminal Detention Facilities, or the Private Prison EO) (two agencies of the DOJ, the United States Federal Bureau of Prisons and the United States Marshals Service utilize our services), legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government, and the impact of any changes to immigration reform and sentencing laws (our company does not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (v) fluctuations in our operating results because of, among other things, changes in occupancy levels, competition, contract renegotiations or terminations, increases in costs of operations, fluctuations in interest rates and risks of operations; (vi) the duration of the federal government’s denial of entry at the United States southern border to asylum-seekers and anyone crossing the southern border without proper documentation or authority in an effort to contain the spread of COVID-19; (vii) government and staff responses to staff or residents testing positive for COVID-19 within public and private correctional, detention and reentry facilities, including the facilities we operate; (viii)  restrictions associated with COVID-19 that disrupt the criminal justice system, along with government policies on prosecutions and newly ordered legal restrictions that affect the number of people placed in correctional, detention, and reentry facilities, including those associated with a resurgence of COVID-19; (ix) whether revoking our REIT election, effective January 1, 2021, and our revised capital allocation strategy can be implemented in a cost effective manner that provides the expected benefits, including facilitating our planned debt reduction initiative and planned return of capital to shareholders; (x) our ability to successfully identify and consummate future development and acquisition opportunities and realize projected returns resulting therefrom; (xi) our ability, following our revocation of our REIT election, to identify and initiate service opportunities that were unavailable under the REIT structure; (xii) our ability to have met and maintained qualification for taxation as a REIT for the years we elected REIT status; and (xiii) the availability of debt and equity financing on terms that are favorable to us, or at all. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.

CoreCivic takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.

Contact: Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

Does Your Personality Make You More Likely to be Scammed


Why Some are More Vulnerable to Financial Scams

 

Can attitudes, beliefs, even politics impact whether a person is more likely to fall for a financial scam? The short answer is “yes.”  After a two-year study, researchers have learned which key personality traits cause one person to be more likely to be scammed than another. Knowing yourself and the traits or “mental frames” defined in the research may help prevent you from falling for a well-designed scam.

The FINRA Investor Education Foundation (FINRA Foundation), Better Business Bureau (BBB) Institute for Marketplace Trust, and the University of Minnesota are responsible for the study titled, Exposed to
Scams: Can Challenging Consumers’ Beliefs Protect Them from Fraud?

The Study

Participants were chosen from Better Business Bureau report complaints filed on BBB Scam TrackerSM. Researchers gathered study data throughout 2017 and 2018 and conducted interviews.

Investigators found that attitudes and beliefs shaping the way study participants looked at the world, known as “mental frames,” may have influenced the way they reacted to scams. Specifically, researchers propose that mental frames governing four attributes, Compliance, Opportunity, Intelligence, and Order may have influenced how the scammed interviewees interpreted what scammers told them.

Compliance – Belief that authority and institutions yield power over the individual.

Expectations that authorities can enact sanctions and limit the freedoms of individuals had the more likely scammed to believe that authority should not be challenged.

Opportunity – Wealth is built on random opportunities.

The thought that the world is organized in a way that rewards good people. Asking too many questions can make a person seem ignorant.

Intelligence – Not knowing the answers causes shame and reduces an individual’s status.

Perceived lack of intelligence can affect an individual’s sense of power and impact.

Order – The natural order of things is benevolent and just.

Individuals who do good will be rewarded and those who do bad will be punished.

Mental frames, according to the study, may determine how and why some people lose money to fraud. The concept is based on the theory that all human learning, whether formal or informal, is socially based. And human response to life events is shaped by perception of reality, which reflects what we have learned from our schooling, our experiences, and our interactions with others. So, whether subconsciously or consciously, mental frames guide thinking and reactions to money, people, power, authority, and other aspects of life.

 

Mental Frames and Financial Fraud

The study was designed to identify the mental frames that may cause people to lose money to financial fraudsters. Researchers wondered if identifiable mental frames might lead people to overlook red flags and inconsistencies in a scammer’s appeal. Similarly, they wondered if mental frames could protect individuals by motivating them to question the situation or reject the scammer’s pitch. Understanding why someone avoids scams offers hope to protect the broader population.

Part of the mental framework that is most vulnerable is the desire to believe that good things actually do happen to good people. And, that good individuals are protected from undeserved harm. People who believe in a just world may ignore the warning signs of something that should seem too good to be true. When this optimism is paired with a mental frame that suggests wealth is a zero-sum game, the individual may have trouble seeing the warning signs of a scam.

These four mental frames play out in different ways in different people. One frame may take precedence over the others, or the effects of two or three mental frames may come together to strongly influence the individual’s response to the scam.

“This research gives us new ways to understand who is at risk for losing money to financial scams and opens novel possibilities for protecting people against different forms of fraud,” said FINRA Foundation President Gerri Walsh. “We hope these insights into the role that beliefs and attitudes play in fraud victimization will stimulate additional research and the development of effective strategies to reduce consumer losses.”

Take-Away

The mental frames defined above are noble characteristics to have. However, when dealing with someone that calls by phone, perhaps pretending they are with the IRS, it can for some be difficult for many to push back and be consistent with who they are. Knowledge of this study’s results, coupled with a good look at one’s own mindset, could cause one to pause, think, and avoid making an expensive mistake.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



Will Companies that Make Covid Test Kits Rally?



Can Market Strength Last into 2022?





Since 2008, Monetary Policy Has Cost American Savers about $4 Trillion



FinTech Pirates are Looting Unsuspecting Trading Accounts

 

Source:

https://www.finrafoundation.org/sites/finrafoundation/files/exposed-to-scams-can-challenging-consumers-beliefs-protect-them-from-fraud.pdf

 

 

 

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Does Your Personality Make You More Likely to be Scammed?


Why Some are More Vulnerable to Financial Scams

 

Can attitudes, beliefs, even politics impact whether a person is more likely to fall for a financial scam? The short answer is “yes.”  After a two-year study, researchers have learned which key personality traits cause one person to be more likely to be scammed than another. Knowing yourself and the traits or “mental frames” defined in the research may help prevent you from falling for a well-designed scam.

The FINRA Investor Education Foundation (FINRA Foundation), Better Business Bureau (BBB) Institute for Marketplace Trust, and the University of Minnesota are responsible for the study titled, Exposed to
Scams: Can Challenging Consumers’ Beliefs Protect Them from Fraud?

The Study

Participants were chosen from Better Business Bureau report complaints filed on BBB Scam TrackerSM. Researchers gathered study data throughout 2017 and 2018 and conducted interviews.

Investigators found that attitudes and beliefs shaping the way study participants looked at the world, known as “mental frames,” may have influenced the way they reacted to scams. Specifically, researchers propose that mental frames governing four attributes, Compliance, Opportunity, Intelligence, and Order may have influenced how the scammed interviewees interpreted what scammers told them.

Compliance – Belief that authority and institutions yield power over the individual.

Expectations that authorities can enact sanctions and limit the freedoms of individuals had the more likely scammed to believe that authority should not be challenged.

Opportunity – Wealth is built on random opportunities.

The thought that the world is organized in a way that rewards good people. Asking too many questions can make a person seem ignorant.

Intelligence – Not knowing the answers causes shame and reduces an individual’s status.

Perceived lack of intelligence can affect an individual’s sense of power and impact.

Order – The natural order of things is benevolent and just.

Individuals who do good will be rewarded and those who do bad will be punished.

Mental frames, according to the study, may determine how and why some people lose money to fraud. The concept is based on the theory that all human learning, whether formal or informal, is socially based. And human response to life events is shaped by perception of reality, which reflects what we have learned from our schooling, our experiences, and our interactions with others. So, whether subconsciously or consciously, mental frames guide thinking and reactions to money, people, power, authority, and other aspects of life.

 

Mental Frames and Financial Fraud

The study was designed to identify the mental frames that may cause people to lose money to financial fraudsters. Researchers wondered if identifiable mental frames might lead people to overlook red flags and inconsistencies in a scammer’s appeal. Similarly, they wondered if mental frames could protect individuals by motivating them to question the situation or reject the scammer’s pitch. Understanding why someone avoids scams offers hope to protect the broader population.

Part of the mental framework that is most vulnerable is the desire to believe that good things actually do happen to good people. And, that good individuals are protected from undeserved harm. People who believe in a just world may ignore the warning signs of something that should seem too good to be true. When this optimism is paired with a mental frame that suggests wealth is a zero-sum game, the individual may have trouble seeing the warning signs of a scam.

These four mental frames play out in different ways in different people. One frame may take precedence over the others, or the effects of two or three mental frames may come together to strongly influence the individual’s response to the scam.

“This research gives us new ways to understand who is at risk for losing money to financial scams and opens novel possibilities for protecting people against different forms of fraud,” said FINRA Foundation President Gerri Walsh. “We hope these insights into the role that beliefs and attitudes play in fraud victimization will stimulate additional research and the development of effective strategies to reduce consumer losses.”

Take-Away

The mental frames defined above are noble characteristics to have. However, when dealing with someone that calls by phone, perhaps pretending they are with the IRS, it can for some be difficult for many to push back and be consistent with who they are. Knowledge of this study’s results, coupled with a good look at one’s own mindset, could cause one to pause, think, and avoid making an expensive mistake.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



Will Companies that Make Covid Test Kits Rally?



Can Market Strength Last into 2022?





Since 2008, Monetary Policy Has Cost American Savers about $4 Trillion



FinTech Pirates are Looting Unsuspecting Trading Accounts

 

Source:

https://www.finrafoundation.org/sites/finrafoundation/files/exposed-to-scams-can-challenging-consumers-beliefs-protect-them-from-fraud.pdf

 

 

 

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