Cornell Companies
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| Company type | 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 |  $ 386.7 million (2008) |
| $ 62.2 million (2008) | |
| $ 22.2 million (2008) | |
| Total assets | $ 636.9 million (2008) |
| Total equity | $ 228.2 million (2008) |
Number of employees | 4,300 - September 2009 |
| Website | CornellCompanies.com |
Cornell Companies (NYSE:GRN) was an American corporation that operates correctional facilities, contracting them to state and local governments. The company's headquarters are 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, Mississippi and Arizona Department of Corrections.
Business Segments
Cornell Companies offered a diverse portfolio of services in structured and secure environments through three operating divisions:
- Adult Secure Services
- Adult Community-Based Services
- Abraxas Youth and Family Services
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.
Quality of Operations
Cornell operates its facilities in accordance with both company- and facility-specific policies and procedures. Where required by contract or otherwise deemed appropriate for its service environments, these policies and procedures are designed to meet requirements set forth by independent industry oversight organizations, including the American Correctional Association (“ACA”), Joint Commission on Accreditation of Healthcare Organizations (“JCAHO”), and National Commission on Correctional Health Care (“NCCHC”). Standards may also be implemented to meet the requirements of state departments of public welfare, departments of protective and regulatory services and departments of human services and education. Internal quality control, conducted by senior facility staff and senior management, takes the form of periodic operational, programmatic and fiscal audits; facility inspections; regular review of logs, reports and files; and strict maintenance of personnel standards, including an active training program. Each of Cornell's facilities is further subject to periodic audits and reviews performed by the company's contracting agencies.
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. As of December 31, 2008, approximately 828 employees at four of Cornell's facilities were represented by labor unions.
References
- ^ "Contact Cornell." Cornell Companies. Retrieved on July 10, 2010. "Cornell Companies, Inc. 1700 West Loop South,Suite 1500, Houston, TX 77027"
- ^ Home. (Direct image link) Cornell Companies. Retrieved on November 22, 2010.
