First off I'm highly critical of anything produced by Janet Reno and her staff, but since this isn't a politically charged issue, its probably a fair report and assessment, unlike some of her other findings or lack thereof (Chinese fundraising). Having said that, I'm a resident of DC. The Youngstown facility involved DC inmates and the DC Dept of Corrections. (As a disclaimer, there are plenty of you out there who know about Doc and his alleged motivations more than I do, but I have a pretty good handle on how DC works, or let me say doesn't work.) This is a city that elected a crack-head as a mayor. (He's gone now, but his dirty work will take years to clean) Regulatory departments in DC are as dysfunctional as pounding a square peg through a round hole. My point is to take this report and others like it with a grain of salt. The writers of the report are pencil pushers for life. The regulators and bureacrats at the municipal and state level are even more infested with cronyism. This prisoner transfer issue has been a hotly contested issue for sometime. Hotly contested because the DC govt "f" it up from the outset. Just show me the money!!!
because DC offers so much potential business to PZN, PZN has no choice but to swallow hard and bite its lip. PZN should use the Clinton defense "there's nothing new here in these findings, therefore everything is OK."
Commitment letter from Barclays for $100mm of financing for OPCO which will wipe out measly GE $30mm financing. New financing also at interest rate that is 2% better than GE.
For anyone who really understands this company, the re-financing is enormously positive. It will be interesting to see how stock reacts once news completely disseminated. If stock doesn't move, goes to show people don't really understand the story, if stock up big (3/4 points min.), people do understand.