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Corrections Corporation of America Message Board

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  • barronsreader barronsreader May 22, 1999 9:59 AM Flag

    The good news is ......

    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.

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    • 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.

    • All,

      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.

 
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