It's Thursday, March 13, 1986: Microsoft, founded more than a decade earlier and already a powerhouse in the world of personal computer software, executes an initial public stock offering that will raise $61 million for the company and leave 30-year-old co-founder Bill Gates unfathomably wealthy.
CDCR today announced that it has met an important benchmark to reduce the stateâs prison population. A Three-Judge Court order, affirmed by the U.S. Supreme Court, requires CDCR to cut its prison population to 124,000 by June 27, 2012 and ultimately reduce overcrowding by 34,000 inmates. On June 20, the most recent count, Californiaâs prison inmate population was 121,129.
Private prisons currently house approximately 22,660 federal inmates, according to the DOJ report, which translates to roughly 12 percent of the total inmate population. The Bureau of Prisons paid $639 million to private prisons in fiscal year 2014, averaging $22,159 per prisoner. For perspective, that's about the same amount it would cost to send three people to a state college.