Corrections Corporation of America Message Board

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  • newMK newMK Aug 7, 1999 5:55 PM Flag

    badly broken

    "could it actually be that fundamental,
    cornerstone mistakes were made such that
    the OPCo/PZN
    relationship just simply won't work in its current

    Yep. The fundamental mistake is the REIT. Everything
    else wrong with the structure flows from that. Back in
    May or June, I wrote the 8 or 9 REIT myths, which
    were actually strategic errors in Doc's thinking (e.g.
    things that didn't go as planned) - thought it should
    have gotten a "nicster".

    Actually, if PZN is
    going to be a REIT, this is the best structure. Can't
    see how to improve it. Seems to be one of those
    "can't live with it, can't live without it"

    Unfortunately, the structure is 100% tax driven. "Elegant" tax
    structures, also unfortunately, have no business being under
    public scrutiny.

34.41+0.02(+0.06%)Jun 27 4:02 PMEDT