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Corrections Corporation of America Message Board

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  • tennbanker24 tennbanker24 Jun 4, 1999 11:10 PM Flag

    FEDERAL BUREAU OF PRISONS HAS

    I have been saying for weeks that this stock is
    going to $5 and based upon today's total lack of
    confidence in management they couldn't even raise $300MM.
    WHY BUY THE BONDS AT 12% when on monday you can get a
    75% return on the stock. It doesn't matter what
    management announces now, no one believes them. The senior
    lenders have bailed (First Union and Nations), equity
    players are gone and now junk bond players want an arm
    and leg. This company is dead until the board takes
    action and fires DOC and Jr.

    It proves that you
    can not piss off all capital providers when you are a
    REIT if you want to grow much less survive. The only
    way this stock turns is with a change at the top
    otherwise here comes single digits.

    I sold half my
    interest in this stock today at $12 and might return when
    it hits $5. Monday will be brutal.

 
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