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Editor s note: This article has been corrected. The Northeast Ohio Correctional Center will not be empty after the contract with the federal government ends.
What happened
Shares of prison operator
CoreCivic (NYSE:CXW) fell as much as 13% on Feb. 26. The primary cause appears to be a business update provided by the real estate investment trust (REIT) after the market closed on Feb. 25. It wasn t good news, but there are bigger implications to consider here.
So what
The specific news that caused investors to push CoreCivic s stock lower was that it entered into a 90-day extension with the U.S. Marshals Service for its 2,016-bed Northeast Ohio Correctional Center. After the 90-day extension is up, however, the REIT does not expect further renewals of the contract. The Marshals Service currently houses roughly 800 federal detainees at
It has 39 cases, 11 of them among patients and 28 among staff.
This week’s Ohio Department of Health data indicates there are still 25 Mahoning County facilities that have from one to three cases each.
Because of vaccinations among residents of nursing homes, those numbers are tiny compared to the numbers reported in December.
The number of virus cases is now down to two in Trumbull County facilities and three in Columbiana County facilities.
There is one staff case in each of two Trumbull facilities. There are two patient cases in one Columbiana County facility and one staff case in another Columbiana County facility.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
CoreCivic Expects the Contract with the United States Marshals Service at the Northeast Ohio .
CoreCivic, Inc.February 25, 2021 GMT
BRENTWOOD, Tenn., Feb. 25, 2021 (GLOBE NEWSWIRE) CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that, effective March 1, 2021, it has entered into a 90-day contract extension with the United States Marshals Service (“USMS”) at the Company’s 2,016-bed Northeast Ohio Correctional Center. The USMS has notified the Company that it does not anticipate extending the contract following the 90-day extension.
While the Company is not currently aware of alternative locations where the USMS can house the approximately 800 federal detainees currently located at the Northeast Ohio facility, President Biden recently issued an executive order directing the Department of Justice not to renew contracts with privately operated criminal detention facilitie
erunyan@tribtoday.com
Mahoning County continues to have the most active cases of COVID-19 in nursing homes and other long-term care facilities in the Mahoning Valley, but the number of facilities with three or more combined patient and staff cases remains low.
Only Woodlands Center for Rehab in Poland has that many. Last week, four facilities had that many cases.
Mahoning County facilities have 42 total cases this week, spread out among 27 different facilities 10 of those being patient cases and 32 being staff cases, according to data from the Ohio Department of Health.
There were only three cases altogether in Trumbull County facilities this week, two among patients, one among staff. The two patient cases were at White Oak Manor nursing home in Warren and Windsor Armstrong Memory Assisted Living in Champion. The one staff case was at Community Skilled Nursing Home in Warren.
Mahoning County continues to have the most active cases of COVID-19 in nursing homes and other long-term care facilities in the the Mahoning Valley, but the number of facilities with three or more combined patient and staff cases remains low.
Only Woodlands Center for Rehab in Poland has that many. Last week, there were four facilities with that many cases.
Mahoning County facilities have 42 total cases this week, spread out among 27 different facilities 10 of those being patient cases and 32 being staff cases, according to data from the Ohio Department of Health.
There were only three cases altogether in Trumbull County facilities this week, two among patients, one among staff. The two patient cases were at White Oak Manor nursing home in Warren and Windsor Armstrong Memory Assisted Living in Champion. The one staff case was at Community Skilled Nursing Home in Warren.