Industry & Services >> Sector Roundtables >> September 27, 1999

Roundtable Forum: Private Correction Facilities

MICHAEL E. HUGHES is an Investment Limited Partner with J.C. Bradford & Company. He holds a Bachelor's degree in Finance from Sienna College and an M.B.A. from Vanderbilt University. Mr. Hughes is a Chartered Financial Analyst. Profile
JAMES R. MACDONALD is Vice President of Research with First Analysis Corporation. He leads the firm's outsourced services practice area. In addition to providing sellside research, First Analysis manages over $600 million in several venture capital funds. These funds have investments in CiviGenics, Community Education Corporation, and Correctional Systems, where Mr. Macdonald serves as a director. He is also a Director of EmployeeService.com and JobsOnline.com. Mr. Macdonald received a BS degree in Civil Engineering from Cornell University and an MBA from Harvard Business School. Profile
F. THOMAS O'HALLORAN, III is a Senior Vice President with Warburg Dillon Read LLC. A graduate of Bowdoin College, he earned his J.D. from Boston College Law School and his M.B.A. from Columbia University Business School. Mr. O'Halloran is a Chartered Financial Analyst. He is also a member of the AIMR, the NYSSA, and the Rhode Island and Massachusetts Bar Associations. Profile
Brian W. Ruttenbur, Managing Director, joined CRT Capital Group LLC in 2012 as a security and defense industry Analyst. He was previously the Senior Equity Research Analyst covering the security and defense industry at Morgan Keegan & Company, Inc.,since June of 2000. Prior to Morgan Keegan & Company, Inc., Mr. Ruttenbur spent six years as an Equity Analyst with SunTrust Equitable. He was the top-ranked Analyst in 2005 in The Wall Street Journal’s “Best on the Street” in his sector, and the second ranked in 2012. He has been ranked in Forbes.com/StarMine for stock picking and earnings accuracy four times. Mr. Ruttenbur served four years as a Commissioned Officer in the USAF before moving to Wall Street. He received his B.A. from the University of Tennessee and an MAS from the University of Montana. Profile
TWST: Michael, what are the factors that have contributed to the

development of offender management or private correctional facilities as

an industry and as a sector for investment?

Mr.