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Corrections Corporation of America Message Board

  • I_M_Wondering I_M_Wondering Jul 27, 1999 7:48 PM Flag

    Disgusted

    The great minds of CCA have done it again. C.B.
    retires and he is replaced by yet another politician
    (fanny kisser). When will they ever see what they are
    doing. The ones with the knowledge and experience keep
    getting passed up for the egomaniacs and politicians
    (fanny Kissers) The company isn't even aware the people
    they promote to the key positions don't have a clue
    because they are to busy politicing (fanny kissing) to
    notice.
    What is the hype about promoting from within.
    How do you explain all the former BOP and other
    outsiders being promoted to key positions while qualified
    exisiting CCA managers get the shaft.
    This continues to
    cause resentment and the loss of experience and much
    needed knowledge. The company has gone to sh** because
    the only thing you can count on in this company is to
    get promoted you need to be a self-serving,
    politicing egomaniac.

    No i have not been passed over.
    You could not pay me enough to get caught up in that
    rat race, but I have seen a lot of good employees
    quit because of the disloyalty shown by upper
    management.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I hope you realize that NO ONE is going to listen
      to you until you provide something more than
      incredibly vague statements designed to induce panic. I
      realize you're just a concerned citizen trying to save
      everyone some money, but why not do it in the form of
      providing some information so each of us can make an
      informed decision, rather than asking us to base our
      investments on the unsupported declarations of an stranger
      who we know nothing about (except that he/she has the
      wherewithal to get a YAHOO! ID).

      Specifically, the fat
      lady hasn't yet sung about what? The LOC extension?
      Dreman's investment? Occupancy improvement? The move in
      the stock from $9 to $13? The viability of prison
      privatization?

      Any illumination you can provide would be
      appreciated.

    • I want to thank all the positive posters during
      our long ordeal.
      It took lots of guts but I bought
      much more than I should in
      the low 9's. Now my
      average cost is such I am in the black.
      I think many
      investors will hold for the high dividend and the
      stupid
      institutions than panicked and sold at the bottom will
      buy
      back in as PZN goes higher .

    • question, "Why" Simply it was correct but this is
      ancient news and I was suprised to see reference to May
      13,

      Much has been written on this board
      trying to understand what happened, poor management,
      poor judgement call, FRAUD, not to mention an
      unqualified CFO and on and on. This data presented is
      insignifigant in my opinion at this moment in time. I beleive
      that the NEWSLETTER although true to a certain extent
      is immaterial and misleading to new investors with
      no other reason but to undermine the stock. Let me
      make it clearer there has been a conspiracy to drive
      this stock DOWN. We can talk about it all night but
      the momentum is on the up side and it is harder and
      harder for analist to be looking down. In either case
      these are my thoughts and welcome to the board.

    • Has not sang yet. use extreme caution.

    • then saw yours. Lots of prayer called for here.
      We are on our way, no doubt.
      The length of the
      journey back to respectability is
      yet-to-be-determined.
      As I shared with RP and Flip, the terms of the LOC
      are compelling, IMO. I hope they lead to a better and
      much more stable PZN.
      I think yes. One of the best
      things I read into the thing (and I don't have much more
      than anyone else; just the headlines and some earlier
      reconnaissance that a thing like the 100mm would be part)
      is
      that a broader base of mgmt and philosophy is being
      requested/required.
      That one fact, in and of itself, should ease some of
      your (and mine--and a helluva lotta others) concerns
      about "trust" and "one-man-band" issues that got us
      here in the first place. I want to look at a real
      "company," now. I want to see the institution of business
      planning and development, modeling and measuring, and all
      the rest. The boys wanted a REIT, they've got a REIT,
      they by definition and now by painful experience
      understand the narrow gauge tracks their railroad now
      operates on instead of the cowboy-on-
      horseback rides
      of the CCA past, and I for one am eager to see if
      they can get into the harness and pull it off.
      Frankly, only the tremendous weight of good choices a
      while ago and good luck when they had to have it
      carried the day this time.
      The sheer totality of all
      that this company has become just carried the
      day.
      PZN is the future of private prisons.
      And most
      certainly not because of anything the boys have done in the
      last 15 mos.
      Now they've got a second chance, and a
      lot more over-the-shoulder scrutiny, which we now all
      know was essential. (Sorry about the rant, but a
      bullet dodged, and a future at-hand, and a whole bunch a
      folk like us holding something in our hands tonite
      besides our sticks.) But still a ways to go before a
      comfortable bed awaits. All the best. Nic

    • that I heard from a different source that the
      Dreman presence is for real and the size of his position
      is such that PZN management is getting a bit nervy.
      Not worried about any sort of takeover as much as a
      very loud, prominant voice may be asking questions at
      the next cc. Perhaps enhanced accountability is on
      it's way, between this news (if true) and the $100mm
      big club (which we know is true).

    • is coming to an end. Like you, I wish its
      continuance, and expect it. However, the climb back is going
      to be challenging, especially as we ease through the
      resistance points where some of the "9-ers" just won't be
      able to resist raking it off the table. (and who could
      blame them? I held my breath on some of those buys, and
      I know for a fact that both of you did, as well)
      Rewards richly deserved and never to be judged.
      Having
      said that though, I want to revisit with both of you
      the $100MM investor requirement. In my MOST humble
      opinion, that one little feature may be the single-best of
      the entire LOC package.
      The message it sends is
      clear and in my judgement, a clarion cry that
      long-range
      stability is on its way. "You're the biggest and the best
      and innately the strongest and longest-lasting in the
      field." the underwriters seem to be saying, "but we are
      gonna help you protect yourselves from yourselves for
      the future." Nic likes that. It's needed and sure
      does add a little comfort to the notion of PZN longer
      than getting even and then measuring the dividend
      potential.
      And, if I may be permitted a tiny little
      "gotcha,"
      the $25MM OPCO thing is the maraschino cherry on top
      of the whipped cream on top of the PZN money
      sundae.
      Again, a message. Again, some assurance that stability
      is expected and that we just MIGHT be able to look
      at this long-term again. All in all, Mrs. Lincoln, a
      helluva play, given the rehearsal time and the price of
      tix.
      Right or wrong???? An inquiring mind wants to know.
      Thanx. Nic.

      One more thing, and God knows the
      Nicster hates anything negative: getting thru
      August
      11. Any hairs standing up on that one, or should all
      be OK? (at least where you all sit tonite)

    • When I read that I thought there had to be
      something personal there because of the strong language.
      How many brokerage reports have you ever read, no
      matter how negative, in which the analyst refers to
      management as "smoothies" or "idiots". Pretty strong.

    • who are saying that if this puppy ever gets back
      to 20, I am outtahere. Looking back, I violated two
      of my investment principles. I was so happy with the
      stock's strong performance (up from 16 1/2), I was
      averaging up and writing calls, first thing I knew I had
      way more stock than I should have had --
      overconcentration in one stock. And, because I had confidence in
      the management, I made mistake number 2 -- did not
      protect my position with either puts or stops. Now, I
      have repurchased (after taking tax loss), and will
      hedge with puts if we can get to 15. I don't know that
      I will ever trust Doc again, and if we ever see 20
      again, I will be in there lightening up. On the other
      hand, a new management at the top could restore some
      confidence. Sorry for rambling, and hope our good fortune
      continues.

    • if this damn thing will stay above 12 1/2 to
      earnings announcement then the gap back to 17 should be an
      easy hurdle. I am biting my fingernails here as I am
      out of stock and I for one will never chase this
      stock again . good luck to all here.

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