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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.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Not only was it a "y-a-w-n," as MK characterized
      the reaction concerning 2Q99's release & CC, the
      entire week was a y-a-w-n in spades, with ADV (for a
      trading week) establishing a new low @ 255,060 shares per
      day, eclipsing (that's 2 in one week) the week ending
      4/30/99's of 284,360 shares per day (by
      10.3%).

      According to the General's assumption (in last weekend's
      posting #5854, which this posting replies to) and his
      reckoning, PZN's ADV did, in fact, say goodbye to a 7 digit
      ADV, if just barely so @ 998,410 shares per day,
      despite the 1,014,954 figure that Yahoo is currently
      showing us.
      This past week, the General was informed,
      by PZN, of an updated (and corrected) S/O for the
      end of June, reflecting an additional 1,696 shares
      acquired via employee purchases that had not been
      previously reported to it by its transfer agent, Boston
      Equiserve. He was also given the end-of-July's S/O, an
      increase of 301,023 shares compared with the revised
      end-of-June's S/O.

      Based on the latest S/O he's been
      furnished, he calcs PZN's current M-C to be $1.496 billion,
      or 1.22% more than what Yahoo is reporting to us.

    • As might be suspected, last week's ADV of 300,580
      shares per day came closer to the week ending 4/30/99's
      284,360 s/d than did the week ending 7/23/99's 348,480
      s/d, but still failed to win a cigar.

      As of the
      week just ended, 8/06/99, Yahoo is telling us that
      PZN's ADV is 1,023,909.

      The General's calc puts
      it at 1,055,967.

      This coming week will not
      only bring us 2Q99's earnings release and CC on
      Wednesday, 8/11/99, it will also mark the passage of 3
      months since the memorable fit-hit-the-shan CC which
      precipitated some extraordinarily high ADVs over the ensuing 2
      to 3 weeks.

      Those week's (ending) ADVs were
      as follows:

      5/14/99: 980,280
      5/21/99:
      3,750,440
      5/28/99: 1,136,800

      If we were to deduct the
      contribution of those abovementioned 3 weeks' worth of
      extraoardinarily high volume (30,430,500 shares) from PZN's total
      trading volume-to-date (108,924,800 shares), and divide
      by the net number of trading days SINCE THE MERGER
      (150 - 15 = 135 net trading days), PZN's ADV since the
      merger would be 581,439 shares (otherwise it would be
      726,165 shares).

      ON THE ASSUMPTION that this
      week's event's will not induce the recurrence of last
      May's temblor and aftershocks, there is a very good
      chance that this week, PZN will say goodbye to a 7-digit
      ADV for sometime to come.

      We "longs" needed
      that "7-digit ADV" inducing event 3 months ago like MK
      needs Viagra. (The General will now pause a moment,
      while "Retreat" is sounded, to wipe a tear from hs
      eye.)

      If trading volumes were to continue at last week's
      pace for the next 3 weeks (an unlikely prospect, in
      the General's opinion), PZN would exit August with an
      ADV under 650,000.

      Due to PZN's continued
      failure to be responsive to the General's requests for
      more recent S/O & other stats, the General is behind
      the times, market-cap-wise, but Yahoo is even
      moreso.

      Based on PZN's S/O a/o 6/30/99, the General calcs PZN's
      current M-C as $1.521 billion versus the $1.507 billion
      that Yahoo is currently displaying (or 0.93% more than
      Yahoo).

    • I should have read a little closer

    • It was in response to 5625. Is that what you wanted?

    • <EOM>

    • <EOM>

    • Could you explain what your referring to about the 1% escalators

    • Could you please elaborate on your comment about the 1% net
      escalators

    • disliked you but now I know. Your an over critical irratating C***t

    • View More Messages
 
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