Updated: 9:02 p.m. Sunday, Jan. 22, 2012 | Posted: 9:00 p.m. Sunday, Jan. 22, 2012 / By BRANDY BRUBAKER The Associated Press
MORGANTOWN, W.Va. —The latest iPhone won't be among the items in any West Virginia prison's commissary. In fact, no cellphones will be there.
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Posted on 12 December 2011
(PSC) is corrupt, according to its former chairwoman, a former Republican State Senator. Former chairwoman Nancy Argenziano says that corporate interests have turned the PSC into a cash machine to the great expense of friends and families of those incarcerated within the state of Florida.
In Septemeber 2010, Argenziano resigned in disgust at what the Public Service Commission had become after S.B. 2626 removed the caps on the state’s phone service providers (“operator services”).
American Securities LLC on Friday signed a $1 billion agreement to buy Global Tel Link Corp. from rival New York buyout firm Veritas Capital, a person familiar with the matter said.
The target's owners and creditors will receive $950 million at closing and an additional $50 million if certain contingencies are met, the source said. No formal deal announcement will be issued, the source added.
Veritas declined to comment. Neither American Securities nor Global Tel Link returned phone calls.
Veritas, an 82% owner, stands to reap more than a 325% gain on its $115 million, nearly 3-year-old investment in the Mobile, Ala.-based provider of telecom services to federal prison inmates. GS Direct LLC, an investment arm of Goldman, Sachs & Co., will earn a similar return on its $15 million outlay.
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