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Corrections Corporation of America Message Board

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  • newMK newMK Jul 12, 1999 5:09 PM Flag

    Please Post in a perspicacious manner

    Sorry, Jake, it's not that simple. PZN is down
    (regardless of any facts)because: 1) The REIT structure is
    incredibly complex and confusing; 2) Many analysts and
    (former) shareholders believe Doc is not just arrogant,
    but also deceitful; 3) There were occupancy issues at
    OPCO that are still haunting analysts; 4) Spec prisons
    are sitting idle and being delayed and 5) even if the
    LOC gets done and this year's dividends look solid,
    there is still uncertainty about how much dilution will
    be incurred to fund future growth and repay
    debt.

    Doc put himself in the position of needing access to
    capital, and the capital markets are turning their backs
    on him. Getting the LOC done won't solve his
    problems.

 
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