Cornell Companies

Cornell Companies Inc.
Public
Industry Prisons
Founded 1973
Headquarters Houston, TX, USA
Area served
 USA
Key people
 Chris Coonfield, Manager, Investor Relations
James E.Hyman, CEO & President
John R. Nieser, SVP, CFO & Treasurer
Cathryn L. Porter, SVP, General Counsel & Corporate Secretary
Patrick N. Perrin, SVP & Chief Administrative Officer
Benjamin E. Erwin, SVP, Corporate Development & ACB
Michael Caltabiano, SVP, Adult Secure
Jonathan P. Swatsburg, SVP, Abraxas Youth & Family Services
Revenue Increase $ 386.7 million (2008)
Increase $ 62.2 million (2008)
Increase $ 22.2 million (2008)
Total assets Increase $ 636.9 million (2008)
Total equity Increase $ 228.2 million (2008)
Number of employees
 4,300 - September 2009
Website CornellCompanies.com

Cornell Companies (NYSE:GRN) was an American corporation that operated correctional facilities, contracting them to state and local governments. The company's headquarters were located in Houston, Texas.[1] On August 12, 2010, Cornell and the GEO Group merged.[2]

History

Cornell Companies, through predecessor entities, began juvenile operations in 1973, adult-community-based programs in 1974, and adult secure operations in 1984. In 1996, Cornell Companies was officially incorporated in the State of Delaware as a consolidated entity. By 2010, Cornell had established long-standing relationships with a number of significant federal and state customers, including a nearly 20-year relationship with the Bureau of Prisons in its Adult Secure division and a 35-year relationship with the Bureau of Prisons in its Adult Community-Based division. Also, in Cornell's Abraxas juvenile division, over 70% of revenue was sourced from customers over 15+ years. Cornell had attained a significant presence with the Alaska, California, Colorado, Mississippi and Arizona Departments of Corrections.

Business Segments

Cornell Companies offered a diverse portfolio of services in structured and secure environments through three operating divisions:

Within the Adult Secure Services segment, Cornell provided minimum- to maximum-security incarceration services for federal, state and local government agencies.

Cornell's Adult Community-Based Services involved the supervision of adult parolees and probationers. Cornell offered a national presence with locations in many large urban areas, throughout the United States. Cornell was a leading provider of community-based services to the U.S. Federal Bureau of Prisons and to a number of state corrections departments.

The Abraxas Youth & Family Services division included residential, detention, shelter care and community-based services, along with educational, rehabilitation and treatment programs for juveniles, typically between the ages of 10 and 18.

Employees

At December 31, 2008, Cornell had 4,109 full-time employees and 300 part-time employees. Cornell employs management, administrative and clerical, security, educational and counseling services, health services and general maintenance personnel.

References

  1. ↑ "Contact Cornell." Cornell Companies. Retrieved on July 10, 2010. "Cornell Companies, Inc. 1700 West Loop South,Suite 1500, Houston, TX 77027"
  2. ↑ Home. (Direct image link) Cornell Companies. Retrieved on November 22, 2010.

External links

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