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Corrections Corporation of America Message Board

  • badInvestments badInvestments Jan 16, 1999 4:04 PM Flag

    Good Time to buy PZN?

    I've been watching CCA (now PZN) for quite some
    time. I don't understand why the stock has done as
    poorly as it has. I guess it's due to the fact that it
    is a REIT. Looking at the $23 book value and their
    past stock performance, I'm thinking of buying.

    Does anyone have any thoughts on whether now is a good
    time to buy?

    Thanks

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I am a resident of Avery County NC. Where PZN has
      just built a new prison. I have been a investor in the
      financial markets for years. And Have considered myself to
      be a socially responsible investor. And I have to
      say that "Prison for profit" Really turns my stomach.
      Yes. Our country's prisons are overflowing. But its
      time for us as a country to start finding ways to
      reduce the prison population. NOT ACOMMIDATE IT!!!
      Placing Our prison system in the hands of the public is
      for me at least, a Very Scary thing. Yes, PZN by
      doing lease backs to the local goverments. Is saving
      the governments some money. But, are these local
      governments using these savings to find better ways to reduce
      the populations. i.e. programs to give people at risk
      of inprisonment skills they can use to be productive
      citizens and stay out of prison? Or are they using these
      savings to hire more police? I guess my real fear is that
      when prisons start becomming publically traded enities
      where profit is the ultimate goal. That the civil
      rights of those in these prisons will fall by the
      wayside. maybe not. Maybe i'm wrong. I certainly hope so.
      I'll quit preaching now . But, i hope i have made at
      least some of you give some some of these questions
      some thought.

      • 1 Reply to hampton1_99
      • I have worked for government corrections
        agencies. We are doing a better job at lower cost to the
        taxpayer. What the gov't is doing with those savings is not
        for us to dertermine. But I can tell you from
        experience, as far as rehabilitation and programs we have
        them beat hands down. I to hope there will be no need
        for prisons, but as long as there is, CCA and PZN is
        the way to go.

    • not. Actually it has done so poorly because I
      bought so much of
      it. Book value really isn't all
      that relevant to PZN. After all,
      they're only
      prisons, swamps and desert. No, it's growth in funds from
      operations and growth rate that I hope will carry the day.
      But who knows? At the rate PZN continues to access
      new credit lines Crants must be planning to
      incarcerate all of us. If enough people pay attention to book
      value it's Death Row for
      some time to come.

 
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