Headline: New York Times, 3/7/2024
Predictions for such a stratospheric trajectory in revenue for these companies did not look to be in the cards just four years ago.
Public sentiment had turned against its industry, amid accusations of safety and health violations and the stigma of profiting from the incarceration of immigrants. Big banks, responding to pressure campaigns from activists, had announced they were going to stop issuing new loans to the companies. The newly elected president, Joseph R. Biden Jr., had vowed on the campaign trail to end contracts with the companies.
The industry’s time in the wilderness turned out to be short lived.
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