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Corrections Corporation of America Message Board

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  • newMK newMK Dec 24, 1999 10:54 AM Flag

    is anyone here bullish

    From Bloomberg: "Shareholders were up in arms
    over the plan, which took the company from a
    high-growth prison operator to a slow-growth but high
    dividend paying real estate company. They were also upset
    that in order for the combined company to maintain its
    special
    REIT tax status, management of the prisons would be
    given to a closely held company owned by*** Crants and
    other senior management****

    1) The shareholders
    weren't up in arms enough to vote no; a large majority of
    the shareholders voted yes. Sure some voted no, but
    to make sweeping comments based on minority views is
    bad journalism. Without the yes votes, there would
    have been no merger.

    2) Doc owns ZERO of OPCO.
    I don't know why Litt, cleo & Bloomberg keep
    getting this wrong. Sure it fits their (at least Litt and
    Cleo's) longstanding view that Doc did the deal to line
    his pockets, but IT IS WRONG!!!

    Of course,
    none of these facts mean that the merger was a good
    idea or that Doc is brilliant and a good guy. I just
    wish people who disseminate public information would
    check the facts.

 
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