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Corrections Corporation of America Message Board

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  • newMK newMK Sep 16, 1999 10:53 PM Flag

    badly broken

    "When he finally comes to the conclusion that it
    just won't work....well, that's my

    Unfortunately, I don't think he will ever conclude that.
    Everything he has done shows that he is hell-bent on proving
    that this was the right strategy. He seems willing to
    pay whatever price is necessary to stay the course. A
    cash special dividend is the millstone that's holding
    the price down, tied to the company's neck by Doc's
    stubbornness and lack of credibility.

    Forgive me for
    thinking out loud, but a thought just occurred to me.
    Maybe Doc has had it, and reviving the company comes in
    the "life's too short" category. Maybe, just maybe,
    the SI will buy enough to take control and drop the
    REIT. If they put in a billion, they could pay off the
    debt (or pay themselves 9+ percent), forget the
    dividends and grow aggressively out of cash flow. What a
    brilliant idea - not being a REIT! Why didn't we think of
    that sooner????

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