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Corrections Corporation of America Message Board

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  • bettyboro bettyboro Jul 19, 1999 9:58 AM Flag

    d%&$** unions

    Pkn4mom apparently thinks that unions control the
    Wall Street analysts and others in the financial
    community who follow PZN. This is hooey! Go back and read
    Jonathan Litt and Jerry Doctrow's May and June 1999
    reports on PZN--they use publicly-available information
    and their own impression of the fee readjustments
    between Opco and PZN to arrive at a conclusion that they
    do not feel as confident as they once did about PZN.
    This has nothing to do with union efforts to attack
    privatization. No one following the stock--even those who are
    more negative on it--believe that privatization is
    being rolled back (many research reports deal with
    political/legislative issues as well as P.R. fallout from things like
    Youngstown).

    This board is so polarized between personal attacks on
    Doc Crants, who cannot be the whole problem here, and
    personal attacks on perceived "union shills," who may just
    be people down on the company because they lost
    money (or they could be short sellers). People on this
    board need to quit obsessing about each others'
    personal agendas (yes, there are probably several people
    from PZN posting on this board at any given time as
    well as others who do not wish the company well for a
    variety of reasons). This is the reality of the Internet.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I believe that there is only one thing that
      controls Wall Street and that is money. What I am trying
      to point out is that analyst opinions were changing
      prior to the fee adjustment and it is interesting to
      note that prior to the fee adjustment there were union
      efforts to insure that pension monies (certainly not
      "small change") were invested in the union workers' best
      interest. The true area of disagreement between you and me
      is that you believe the analysts use public
      information only to create fair and unbiased assessments.

      • 1 Reply to pkn4mom
      • No, I don't believe I ever said I think analysts'
        assessments are fair and unbiased. Quite to the contrary.
        Many analysts have conflicts of interest that
        interfere with their ability to make honest assessments,
        and some are just not terribly talented. I also agree
        that analysts' opinions were changing before the fee
        readjustments, but not to the same extent. The problem is that
        investment managers and analysts rely heavily on their own
        very subjective assessments of individual management
        teams in deciding whether a company's prospects are
        good. When they lose faith in those management
        teams--for reasons you or I may or may not agree with--the
        companies become much less attractive, sometimes seemingly
        overnight. Here, analysts like Jonathan Litt were counting
        on management to avoid having the kinds of problems
        they thought the structure was prone to and were
        disappointed.

    • the stock recovers. At tahe rated were moving this morning we may close at 12. Then watch the intersist.

 
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