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Corrections Corporation of America Message Board

  • WALLSTREETBLUES WALLSTREETBLUES Nov 23, 1999 7:55 PM Flag

    RUMORS

    There are rumors floating that cca has failed to be awarded the contract to run one of its Tennessee prisons.
    Has anyone heard anything diferent?

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    • I dont think the company will last long enough
      for the stock to go to 4.00. It appears that all
      necessary steps are being made now to sell , or go
      bankrupt.And no Doc has no credibility at all anymore.. I also
      heard they borrowed another 1.5 million just the other
      day to pay the payroll.

    • There was a lot of money made and a LOT of money
      lost..The current mess was predicted by several people a
      year ago..I don;t care how much Doc has ridden
      down...he has still made his fortune,,,allowed his son to
      make his and now while I'm sure he'd like even more he
      is by no means in the position that he has put his
      shareholders in...I predict $4.00 within 3 mos. he has no
      credibility.....

    • That is what im refering to, the old cca, There was a lot of people who made a lot of money during this time frame,
      I think now it was planned that way, make it fast. Before the end comes.

    • is one that has been asked here several times.
      I've kept quiet because I've always hoped someone more
      knowledgeable than I would give us a definitive answer. I have
      never seen anyone attempt to do so.

      MY
      understanding, certainly NOT definitive, is that the board has a
      mechanism for reviewing such things on a case-by-case basis
      and no determination is possible
      before-the-fact.

      Moreover, it leads into an interesting expansion on the
      lawsuit question I raised earlier about PZN's
      redefinition of dividends already declared and avoidance of a
      payment at the end of the year. Consider the scenario
      where the option strike price is affected, and PZN
      declares the special paid by the previous
      dividends.

      This means that previous strike prices of options
      holders should have been lowered, but that didn't occur
      because PZN misled shareholders about the nature of the
      dividends being paid. Again, lawsuits alleging fraud are
      certain to result. And, IMHO, they present almost a
      certain case against PZN.

    • and I heard that Doc was seen getting on a plane
      for Rio with two suitcases full of cash and had put
      his mansion on the market for half its value. HSBC is
      foreclosing on California City prison and turning it into a
      resort for political dissidents. Lenin's tomb has been
      sold to Disney, which will move it to their
      "Eastworld" resort in Orlando. Any other rumors?

    • Trying to spread the rumor, fear, and uncertainty
      by asking the question?

      New ploy for you.
      Similar to asking the person sitting next to you in the
      theater if they heard someone shout "fire".

 
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