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Corrections Corporation of America Message Board

  • pcbondsman pcbondsman Aug 30, 1999 2:53 PM Flag

    Felons and Prison Guards

    http://www.n-jcenter.com/1999/Aug/30/FLA1.htm

    Wonder if AFSCME allows felons as memebers?

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    • Lowering the requirement to 90% could add between
      7-11 million for expansion( my guesstimate) I have
      emailed PZN for confirmation of possible gain. The
      requirement will be that they must distribute to shareholders
      90% of TAXABLE INCOME to qualify as a REIT.


      EXCERPT.... LIQUIDITY AND CAPITAL RESOURCES.

      The
      Company's growth strategy includes acquiring, developing
      and expanding correctional and detention facilities
      as well as other properties. The Company expects
      that it generally will not be able to fund its growth
      with cash from its operating activities because the
      Company will be required to distribute to its
      stockholders at least>>> 95% of its taxable income
      each year to qualify as a REIT. Consequently, the
      Company will be required to rely primarily upon the
      availability of debt or equity capital to fund the
      construction and acquisitions of and improvements to
      correctional and detention facilities.

    • The Wall Street Journal's Heard on the Street column said that while the real-estate market continued to boom, real estate investment trusts were answering with only a whimper.

    • "106th CONGRESS 1ST SESSION H.R. 2488 CONFERENCE
      REPORT"
      8/18/99 9:38:58 AM This Act may be cited as the "Taxpayer
      Refund and Relief Act of 1999"
      "The committee of
      conference on the disagreeing votes of the two Houses on the
      amendment of the Senate to the bill (H.R. 2488) ��to
      provide for reconciliation pursuant to sections 105 and
      211 of the concurrent resolution on the budget for
      fiscal year 2000,�� having met, after full and free
      conference, have agreed to recommend and do recommend to
      their respective Houses as follows:"
      ...lots of
      intervening b.s. deleted...resuming on page 302
      "(b)
      AMOUNT SUBJECT TO TAX NOT REQUIRED TO BE
      DISTRIBUTED.�Subparagraph (E) of section 857(b)(2)(relating to real estate
      investment trust taxable income) is amended by striking
      paragraph (5) and inserting paragraphs (5) and
      (7)."
      ...resuming on page 308, halfway down the page:
      "PART
      III�CONFORMITY WITH REGULATED INVESTMENT COMPANY RULES
      SEC.
      1131. CONFORMITY WITH REGULATED INVESTMENT COMPANY
      RULES.
      (a) DISTRIBUTION REQUIREMENT.�Clauses (i) and (ii) of
      section 857(a)(1)(A) (relating to requirements applicable
      to real estate investment trusts) are each amended
      by striking ��95 percent (90 percent for taxable
      years beginning before January 1, 1980)�� and inserting
      ��90 percent��.
      (b) IMPOSITION OF TAX.�Clause (i)
      of section 857(b)(5)(A) (relating to imposition of
      tax in case of failure to meet certain requirements)
      is amended by striking ��95 percent (90 percent in
      the case of taxable years beginning before January 1,
      1980)�� and inserting ��90 percent��."
      (b) AMOUNT
      SUBJECT TO TAX NOT REQUIRED TO
      BE
      DISTRIBUTED.�Subparagraph (E) of section 857(b)(2)
      (relating to real
      estate investment trust taxable income) is
      amended by
      striking ��paragraph (5)�� and inserting
      ��paragraphs
      (5) and (7)��.

    • This is a perfect example of the misinformation
      about REITS found in many publications. I'm not trying
      to be a smartass but Smart Money is absolutely
      WRONG!

      <<Your both right(sort of)according to SmartMoney (9/99)
      The REIT Stuff..."They're corporations but are tax
      exempt if they pay out 95% of their income as
      dividends.">>

      NO WAY! Call th eIRS if you refuse to believe me!
      I'll say it just one more time, REITs must pay out 95%
      of taxable income for REIT STATUS! If they do this
      however, they still pay income tax on the other 5% of
      taxable income! Having REIT status means you can deduct
      dividends from taxable income when you prepare your income
      tax returns. It does not have anything to do with tax
      exempt.

      ........"AFFO approximates actual cash flow.....isn't an
      audited number,and there's disagreement about how it's
      calculated-"

      On this item, Smart Money is correct as I've stated
      previously in a prior message.

      Now I'll leave you all
      so you can get back to the more important stuff for
      your messages, like union shill bashing. Nuff said.
      When if there is no special dividend or it is reduced,
      now you will understand why!

    • I think flipper went on vacation (again) this week.

    • <EOM>

    • the volatility of todays market.

    • You could be correct @ this moment based on the
      total 60 cents for the past 3 qtrs and probable last
      qtr 60 cents...HOWEVER,for all the lucky eligible
      stockholders,a special extra-one-time-only div of ~$1.50-$1.80
      per share in cash(MAYBE!)is suppossed to be declared
      sometime late in Q4.If done, the special will increase
      your 18% estimate considerably FOR 1999 ONLY.It is
      anticipated that FY2000 will provide a div yield slightly
      less than the currently estimated 18%(at todays
      price).
      HTB

    • Your both right(sort of)according to SmartMoney
      (9/99) The REIT Stuff..."They're corporations but are
      tax exempt if they pay out 95% of their income as
      dividends."
      ........"AFFO approximates actual cash flow.....isn't an
      audited number,and there's disagreement about how it's
      calculated-"
      Also,note this...."stay away from companies that conract
      out property management-often a magnet for
      selfdealing."
      HTB

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