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
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
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.
PZN, despite the weakness exhibited yesterday and
thus far today, remains in a positive
The Oracle sees support @ 17.000.
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.
yesterday, 5/03/99, HSBC purchased an additional 1,122,074
shares, bringing the current S/O to
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.
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.
bought more MLS, GTA, TEE, EOP, HIW, HPT, LTC, MT,
SPK recently--all different kinds of REITS
comments on those appreciated too!
regards to all longs
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
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,
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
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
If only I can learn some Japanese, now!!
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.>>
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).
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
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."
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
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