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Corrections Corporation of America Message Board

  • pkn4mom pkn4mom Jul 19, 1999 8:02 AM Flag

    d%&$** unions

    Took a short vacation and when I returned found
    the 100+ rambling posts here more tiring than a July
    day at Six Flags with the kids. IMHO the question of
    Doc's credibility and the structure of OPCO continue to
    be smokescreens that hide the impact of union
    efforts to demolish this company. Check out
    www.afscme.org/. Under Pension Fund Activism (8/98 Resolution of
    Funds): "that AFSCME develop and disseminate to
    affiliates model investment and proxy-voting
    guidelines...and information on labor-friendly investment
    vehicles...in order to...promote the well-being of pension fund
    participants as workers as well as beneficiaries." Also, under
    AFSCME Leader issue 6/99, a 4/99 request to contact the
    International Dept. of Research and Collective Bargaining
    Services "in order to develop a network of members who
    serve as pension fund trustees and
    advisors."

    Note that the mean broker recommendation was 1.27 3
    months ago, 1.88 2 months ago and 2.15 last month and
    now--therefore a much larger drop PRIOR to all of the OPCO fee
    "hellaballoo".

    There seems to be more concrete evidence
    that PZN's price is affected by union pressures and
    the $$ behind them than by credibility and OPCO
    issues. If Doc is arrogant, manipulative, sneaky and
    brilliant then he has the qualities needed to fight the
    real war.

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    • 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.

    • I went to that site. But dont know how to get the insitutional data you mentioned. where do I go there? Thanks. I did write to Gray Davis about the prison unions here.

    • for your info the combined divs. .55x2 + $1.65
      special div = $2.75 less .10 paid 1st & 2nd Quarter for
      the special Div. we end up with $2.65 to paid by yr
      end. So according to my simple math at the current
      price 13 1/2 we should end up with a yeild equivilant
      to 39.24 % annually or say 19.63% for the 6 month
      period I may be
      wrong as you will soon see as others
      pick this post apart but I'm using numbers that have
      been used and posted in the past.

      The movement
      downward was related to me purchasing an additional 3500
      shares this afternoon. It's standard procedure for a
      stock to turn downward after I purchase it.

    • Your analysis is NOT doom & gloom.

      We're
      all confident that the stock's been killed because of
      Doc's arrogance and miscue on the OPCO fees; and this
      has been confirmed by the price dropping to 9+ which
      we all agree is overkill and the result of certain
      brokerages punishing Doc.

      However, IMHO there is a
      limit to how much the brokerages will pay for the
      pleasure of punishing.

      To-date I've felt there is
      a piece of the puzzle missing to fully account for
      the price drop. I think you've given some coherence
      to all the factors; DILUTION, REDUCED CAPEX (and
      therefore reduced expansion and reduced growth rate),
      STAGNANT DIVIDEND growth.

      What you've outlined is
      probably why the rebound will stabilize around 17 - 18 and
      basically remain there the next 12 months.

      So as not
      to be misunderstood re: motivation. I've resumed
      buying at 13 ish and will continue to 15 ish.

    • Can you tell me how much money it takes to have a mule burned and why it's so expensive?

    • If it is your understanding, tell me the source!! I checked my sources, including live Edgar at 5 pm. Nothing there!

    • Here's the latest rumor mill. Doc & Baby are
      history; board is supposed to be currently interviewing
      recognizable names to head PZN. Names Wall St knows and who
      bring credibility (meaning: access to capital). I know
      the Crants' have built this company and there are
      going to be those of you who say this is a bad thing,
      but there are numerous examples on the NYSE where a
      new chief was brought in and the stock reacted
      positively before the guy even set one foot in the office ie
      McCaw & Netscape (Barksdale), IBM (Gerstner), CPQ (when
      Pfeifer 1st joined) FAM (Bottdorf) etc. THIS IS ONLY WHAT
      I HEARD; PLEASE DO NOT BLAST ME. HOWEVER, I BELIEVE
      THIS TO BE TRUE........IMHO.

      I'm wondering what
      yous guys think the stock will do, up down unch?

    • This makes my average aquistion share price at
      $15.33 when considering my previous scenerio this leaves
      me at $12 3/4 by years end. Of course some capital
      appreciation would be appreciated. In either case it's
      imaterial as I'm in for the long haul.

      In a few
      years we'll all be happy as a horse eating SWEET FEED.

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