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  • fullcount_1999 fullcount_1999 Dec 27, 1999 9:21 AM Flag

    PZN News this morning!

    structure will be positive. I think even short
    term, by resolving the open issue of what will PZN do
    and by replacing the management team that lost
    investors confidence will be positive.

    The open
    issues are (i) the degree of negative impact from not
    paying the dividend (although maybe painful, this will
    be old news before too long), (ii) who are the
    members of CCA's management team that will be receiving
    the 40% of the new/improved CCA (the real question is
    did these management members get their ownership % as
    a "carryover" of their prior CCA ownership, or was
    it a windfall?), and (iii) who the new CEO/CFO will
    be.

    But, overall, this puts capital into a company that is
    back in the "growth" profile in a growing industry,
    and I assume it will result in a new professional
    management team (and presumably they'll have the experience
    and reputation of high quality, whether from this
    industry or from outside the industry).

    Once people
    put aside the emotion of what they've previously lost
    from PZN, the growth-picture of this industry should
    return, and in the end, be positive for the industry.


    This should be good for the other stocks in this
    industry as it removes (or will soon remove) the confusing
    corporate structure issues that have plagued PZN.

 
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