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.
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.,
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.
How about a discussion of a prison break,
lawsuit, prison riots or whatever else terrible could
It seems to me that these sort of problems have been
occurring in govt. managed facilities for years. Is the
govt. liable or do they pay out when these things
happen. Surely, PZN has thought of these possibilities
and come up with some sort of plan to handle it.
Also, it there were a problem, wouldn't any lawsuits,
etc. be directed at OPCO, not PZN? Let's say OPCO was
sued and lost a lawsuit and had to file bankruptcy.
Wouldn't common sense dictate that someone else, maybe
even the govt. would step in and lease the prisons
I am considering putting some big
dollars (for me) in this stock and would appreciate a
serious discussion of these issues. Thanks.
I have known you long enough, to appreciate the
only one word missing in this latest of your
"brilliant" missives. The word is, obviously, CLEO. Well, old
pall, I am sure, that deep inside, you
are in fact
jelous of all my CHUTZPAH! Well, as many other things in
life, some people get it and some don't.
think, the more relevant question is, is it better to be
bullshit right or brilliantly wrong.
For my money, I
would always take the former!
My last post to Flip was in the spirit of making
PEACE, not starting a war. But, boy, you, Happy
Brigaders, coming to his defence?! Like, it was the worst of
things said on this board ever.
I said loud and
clear, what I did not like in Flip's posts about me. Go
back and reread it. I think, he understood. But, you
did not. Well, given your history on this board, it
is NOT A BIG SURPRISE!!
1)A done debt deal at a slightly higher interest
2)New coverage and recommendations once the bond deals
3)20% profit margins.
4) Favorable REIT law
5)WHC still not winning much business.
Further opening of the Opco books...just my
7)A host of new financing friends due to PZN new
8)20% profit margins...did I mention that?
those that downgraded, will upgrade once the road is
10)Speculation bubble looking shaky, this will attract a new
audience of value investors that's know there isn't always
a greater fool when it comes to stocks selling at
2,000 times earnings.
It was fair and balanced, other than the
possibility of "another shoe dropping", there was nothing
negative and new. And the comments about payments of the
dividend were positive in my view.
I also wondered
if those interest rate quotes were a typo. The way
that it was written sounds like rates were
Of course, I would not underestimate the power of
having our little fiasco aired in Barons. Its not a
pretty story, and seeing it written out has its impact.
It would not surprise me if there were some shorters
shaking the tree on Monday just because of the
Best - - - ST