Has anyone read the Barrons article about this company. It explains the recent problems with reworking their contracts , prizon breaks and dividends. Not a favorable article by any means but it explains why the stock is floating lower.
Where would we be without Barron's, that prescient weekly that has led us into many an ambush, and prompted me to sell some stocks way too soon. I look back and remember their bearish stories on Microsoft a few years ago, their pounding the table on MA/Com just before it went into the toilet, their touting of (the late) Penril which cost me more than a few bucks, and, oh yes, they even warned that Anheuser Busch (BUD) looked a little toppy a little over a week ago. Got a few profitable trades as people dumped the stock down to 68, only to have it recover to 76. These days, I almost regard Barron's as a contrary indicator. If they are pessimistic on PZN, that can't be too bad.
as this board. Nothing new except what I thought as somewhat postive, that with all this fiasco they're only looking at 9.75% or up 1/4-1/2% on the bond issue. Certainly not good but better then I was fearing.
The folks at the correctional facility I visited are vey upbeat! They cite a proven track record and growth such as: 1) 60MM 1600 bed started in Feb.99 in Florence Arizona, expected to open in early 00 and generate annual revenues of 31MM. 2) 37MM 1104 bed Tallahatchie Miss. facility projected for completion in 00 and to generate 37MM/year. 3) Two 1524 bed 45MM facilities to be completed in July 00 to generate 23MM each per year, etc., etc.
Bottom line is I feel comfortable with what for me is a large stake and plan to take advantage of this fire sale by accumulating.
Glad to hear such a strong conviction to your investment. I see you have done your homework and I wish you well .As a long position it will have better days. However, in the mean time, look for this one to fall upon darker days until you are able to see dawn.