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Corrections Corporation of America Message Board

  • frank101_99 frank101_99 Apr 14, 1999 9:30 PM Flag

    Can somebody please explain?

    Please tell me if I got this right. CCA merged
    with PZN and said their intention was to become a
    REIT. In order to qualify as a REIT, you must, among
    other things, derive most of your earnings from real
    estate, and pass on at least 95% of your earnings to your
    shareholders. Standard and Poor's says that later this year PZN
    will have to spinoff the management part of the
    business to a company closely held by CCA and PZN
    executives before it can become qualify as a REIT; S&P also
    says that this is the profitable segment of the
    business.

    My question is this: When I read that First Call
    estimates earnings of $2.67 a share this year and $3.11
    next year, is this based on the company as it
    presently is, before becoming a REIT? If I am reading this
    correctly, once the management side of PZN gets spun-off,
    PZN will loose any revenue derived from it. And most
    of the revenue will have to come from leasing the
    real estate. I called the company 3 times to find out
    the answer and I'm still waiting for the I.R. lady to
    call me back. Any insight into this question will be
    appreciated.

    BTW, this coming weekends edition of Wall Street Week
    is going to feature real estate. If I remember
    correctly, there will be 3 analysts discussing various
    aspects of real estate, which will have to include REITs.
    It would be nice if one of the analyst recommended
    PZN. It sure would give a nice boost to the stock.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Well, there's still a prison break out or a dividend reduction, but I'm with you......put the brakes on this meltdown NOW. Wish I wouldn't have checked the Oracle at 19 7/8......

    • 10,000 more @ 16 7/8. I guess the only thing that could screw us is some bad news that we don't know about yet. Good Luck!

    • PZN, despite the weakness exhibited yesterday and
      thus far today, remains in a positive
      trend.

      The Oracle sees support @ 17.000.

      The Oracle
      considers PZN to be in a buying range @ current levels and
      has been doing so.

    • In the latter half of April, 26,500 shares were
      added to the 115,924,218 S/O, a/o 4/15/99, bringing the
      total S/O, a/o 4/30/99, to 115,950,718.

      Then
      yesterday, 5/03/99, HSBC purchased an additional 1,122,074
      shares, bringing the current S/O to
      117,072,792.

      At today's closing price of 20.0625 for PZN, its MC
      calcs to $2.349 billion, which is about 3.57% higher
      than the $2.268 billion that Yahoo is currently
      displaying, widening further the disparity between Market
      Guide's data (as furnished to Yahoo) and the extant
      reality due to MG falling further behind the times
      insofar as PZN's S/O is concerned.

    • Had bought PZN as an IPO at 16--watched it double
      pretty quick and begin dropping. Sold it in the low 20's
      last year when REITS went out of favor. Bought back in
      again at 16 or so a few weeks ago and have watched a
      nice runup in just the past couplaweeks.
      Whether
      the Oracle is interested in PZN or not
      specifically--who knows, but just his interest in REITS generally
      is a rising tide lifting all boats.
      Have also
      bought more MLS, GTA, TEE, EOP, HIW, HPT, LTC, MT,
      and
      SPK recently--all different kinds of REITS
      Any
      comments on those appreciated too!
      regards to all longs
      on PZN

    • I am considering this REIT...Any problems in the Wings..
      Will there be a special distribution to shareholders this
      year? What about the dividend do you think they can maintain it?

    • derived from the German word schmuck, which is
      NOT an obscenity. According to Leo Rosten's book,
      "The Joys Of Yiddish" (Pages 356 to 358), the German
      word schmuck means "an ornament," "jewelry." Spelled
      without the "c," the German word, shmuck, is "neat,"
      "smart." In Yiddish, the word spelled with an "o," shmock,
      means an "ornament."

      But change that "o" to a
      "u" and the Yiddish word (rhymes with "stuck") can
      have several meanings, none of which is for polite
      company (or as Rosten cautions, "Never utter shmuck
      lightly, or in the presence of women and
      children.)

      The word's use is gender specific. I have never heard
      that word applied to a female. Although their nuances
      are not exactly the same, one of the meanings of the
      word would be roughly equivalent to the derisive use
      of "pendejo" in Spanish.

      That's probably more
      than you needed or wanted to know, but if you yearn
      for more details, stop by a Barnes & Noble or Borders
      and see if they have a copy in stock. You know what
      pages to find it on.

      One thing that Rosten
      doesn't even mention are the nuances the word has
      depending on the way you say the word. If you say it short
      and sharply, SHMUCK!!, it has a different connotation
      than if you say it mmore softly and slowly, dragging
      out the short "u" vowel sound,
      sh-h-m-u-u-u-u-u-ck.

      I'm feeling a bit like Benedict Arnold here, adding
      to your arsenal of potential invectives against Doc
      and the Brigaders.
      Let's keep this lesson our
      "little secret", shall we?

      (Doing what I've done,
      and then saying what I've just said about keeping it
      our "little secret" on a public thread is one
      definition of a sh-h-m-u-u-u-u-u-u-ck.)

    • For the first time in many moons, I can sign my
      name under every word of your post (and that includes
      the showers!!)!
      You actually saved me some effort,
      as I was contemplating an ans-
      wer to 1999, but
      run in some sort of a writer's block: every sentence
      I tried, would start with the "ass" word. See my
      predicament?!
      If only I can learn some Japanese, now!!
      P.S.
      But, what does "s--k" mean??

    • No consternation or offense taken on my part.
      Like I haven't been there and done that myself? You
      didn't have to explain. I figured out for myself what
      must've happened. I had to.

      You see I've never
      been in the position where<<I had the inside
      source.>> Nor have I ever been in the position to say
      that<<I have hired guns who advise me as to where to
      invest and where to put my money.>>

      Gee,
      wouldn't it be great though, if I could afford to pay a
      gaggle of investment advisors whose "consensus" opinion
      would tell me what to buy, when to buy it, and when to
      sell it but wouldn't be bothered to explain the
      reasons for my doing so, just telling me, <<"Forget
      why and how come.">>

      I think that would
      be just ginger peachy. And if I DID have any
      questions or wanted to understand what I'd gotten myself
      into, I wouldn't have to disturb the advisors I'm
      paying my money to for information, I could just go on
      the message board and snag some unsuspecting dumb
      s----k and have them explain things to me FOR FREE!!

      Fortunately (for me), the help I've tried to give others on
      this (and every thread I post on) has been
      acknowledged with appreciation by many, including yourself,
      Agent00077, so this incident goes down as an example of an
      encounter with what the late cartoonist Al Capp (creator of
      the comic strip Li'l Abner) described as "the goo-goo
      element in our society." (tggeios).

      Imagine!!, the
      General an "associate" of Cleo. This next one will be my
      sixth shower since reading #962 and I still feel like
      quoting Lady Macbeth, "Out, out damn ..." While I can't
      vouch for how many showers Cleo will have claimed she's
      taken (since I don't have an inside source), I'm sure
      it will exceed whatever number I would say
      here.

      Did I say chutzpah? The saving grace of this whole
      episode is that should the trajedy in Kosovo continue
      much longer and the NATO forces find themselves in
      need of more brass for shell casings, I know where
      they can find the Mother Lode. Snip, snip.

    • I only just now read your posting about WSW. At
      the time I did mine it was late at night and I had
      not read all the postings. Yours was not only
      "firstest" ... but also there with the "mostest."

      By
      the way, I think that just as people have "designated
      drivers" and "designated hitters," that we should have
      someone as a "designated poster" who would highlight and
      copy your post to be addressed to the people who deign
      to bless us with their magnificent presence on our
      humble board ... no less than giving us the blessed
      priviledge of doing labor for them. Clearly, out culture has
      progressed to the state where nobody wants to do anything
      for themselves. There is a lot of narcissism out
      there.

      Postscript: And boy ... those suckers sure get exercised when
      someone is so "uppity" as to decline to do labor for
      them. I hope these folks have spouses (whoops ... I
      mean signaficant others) who are "there to please."
      Hmm ... let me see ... what are those divorce rates
      now.

    • View More Messages
 
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