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Corrections Corporation of America Message Board

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  • newMK newMK May 18, 1999 11:50 PM Flag

    sounds like they are stealing the share

    if I understood correctly, he did correctly state
    that the 4 1/2% is depreciated over 50 years (what you
    may have missed is that he said that it is already
    included in the $35,000 figure used as an average bed
    cost).

    You are also right that the tenant
    inducement fee ($4,000)is not on the books as part of the
    facility. I assume just added to bed cost as it is part of
    the "upfront" cost of a facility. It gets amortized
    against revenue over lease term, but still added back,
    like depreciation, in arriving at FFO.

    CFO
    situation is confused. Darrell Massengale, the long-time
    CCA CFO who used to be in on the conference calls, is
    now at OPCO. Vida Carol, the PZN CFO was on the call
    (in the room), and is on the road show with Doc.

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