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Corrections Corporation of America Message Board

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  • newMK newMK Mar 24, 1999 9:26 PM Flag

    What do you get for $8/share these days?

    "So if PZN's rents are secure, why the
    drop?"

    Pick one of the following, but not both:

    a)
    The private OPCO is still viewed as a vehicle to suck
    income out of the public company to enrich former CCA
    management (before picking this one, ask one of them if they
    feel better off than they did a year ago), or


    b) The REIT is a vehicle to suck management income
    out of the private OPCO in such an egregious fashion
    that the IRS will put a large number of management
    personnel in NEOCC on a quality control extended tour
    (before picking this one, give Stokes & Bartholemew's tax
    guru a call and ask him/her what his/her batting
    average in Tax Court is).

    After picking one of the
    above, add one or more of the following:

    c) the
    world of REIT investors is populated by true believers
    in Jonathan Litt (even though he has not risen from
    the dead).

    d) no one can find "REIT" on the
    NASDAQ.

    e) there is a rumor that after he Balkanizes
    Serbia, Clinton will grant amnesty to all prisoners in
    domestic prisons and ship them to Cuba in exchange for
    some sugar plantations and a couple old casinos,
    thereby making room in the budget for keeping nursing
    homes open.

    f) the AFL-CIO has started
    organizing prisoners in several state and federal
    correctional facilities.

    g) Cleo has given up and
    started selling hundreds of thousands of shares in the
    open market.

 
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