Corrections Corporation of America Message Board

Try South Central Correctional Facility in Tennessee.

Can you be more specific on the facility or water utility in question? A county name perhaps?

has a lot to learn about selecting American
business associates. They will soon learn , as the United
States has learned. PZN/CCA has problems paying as
simple of a thing as their water bills, for the
facilities they run in Tennessee. They were recently
threaten with their water being turned off to a Tennessee
facility, if they dident pay an back log of water bills,
excedeing 100,000.00.

Prison Realty's business is the ownership of
correctional and detention
facilities. The Company provides
financing, design, construction and
renovation of new and
existing jails and prisons that it leases to
both
private and governmental managers. Prison Realty
currently owns or is in the
process of developing 51
correctional and detention facilities in 17 states,
the
District of Columbia and the United Kingdom. Prison
Realty, which is
based in Nashville, Tennessee, has
announced a restructuring which will,
pending
shareholder approval, result in the combination of the
Company with
the companies operating under the name
Corrections Corporation of America.
The combined company,
which would operate under the Corrections Corporation
of
America name, is expected to be a taxable subchapter C
corporation, as Prison
Realty would terminate its status as
a REIT in connection with the
restructuring.
Pending shareholder approval, Prison Realty expects that
upon
the completion of the restructuring, it will issue up
to $350 million in
convertible securities to a
group of investors.
This news release contains
statements that are forward-looking, including
statements
relating to the amount and timing of the proposed
offering
transactions. These statements are not projections or assured
results.
Actual results may differ materially from the results
anticipated in the
forward looking statements due to a
variety of factors, including but not
limited to,
changing market conditions. Additional factors will be
described
in the company's filings with the SEC. The company
does not undertake an
obligation to update its
forward-looking statements to reflect future events
or
circumstances. Accordingly, individuals should not place undue
reliance on
such statements.

SOURCE Prison
Realty Trust, Inc.
-0- 01/25/2000
/CONTACT:
Investors, Alex Singal, 615-263-3005, or Media, Susan
Hart,
615-263-3000, both of Prison Realty Trust, Inc./
/Company
News On-Call:
http://www.prnewswire.com/comp/208225.html or fax,
800-758-5804, ext. 208225/
/Web
site: http://www.prisonreit.com/
(PZN)

Subj: Corrections Corporation of Australia
Awarded Contract...
Date: 1/25/2000 6:49:20 AM Eastern
Standard Time



Corrections Corporation of
Australia Awarded Contract
To Provide Inmate
Transportation and Court Security

NASHVILLE, Tenn., Jan.
25 /PRNewswire/ -- Prison Realty Trust,
Inc.
(NYSE: PZN) today announced that Corrections Corporation
of Australia has
signed a five-year contract with
Court Security and Custodial Services of the
Western
Australia government to provide prisoner transportation,
court custody
and court security. The initial
contract, which also provides for two
three-year renewal
options, is expected to generate approximately $7.9
million
in annual revenues.
The contract is expected to
begin in July 2000. By the end of 2001,
Corrections
Corporation of Australia expects to provide transportation
and
custodial services for all major law enforcement agencies
throughout Western
Australia.
"As seen by today's
announcement, the international arm of Prison Realty
Trust
continues to garner contracts and expand its services to
foreign
governments, particularly in Australia," said Tom Beasley,
interim chairman of
the company. "We believe this
growth is further evidence that privatization
of
public services in both the domestic and international
arenas will
increase."
The delivery of the
program will require 300 staff in 19
separate
locations and a fleet of 40 vehicles. Corrections
Corporation of Australia
will incorporate the most current
security and tracking technology, including
satellite
phones and real time GPS location systems, in its
program delivery.
In addition, the government will
have online real time access to the operation
to
ensure accountability for Western Australian officials
and citizens.
Corrections Corporation of
Australia is an affiliate of one of the
privately held
service companies, which does business as
Corrections
Corporation of America, of which Prison Realty Trust Inc. has
a 95% equity
ownership interest.
Corrections
Corporation of America provides detention and
corrections
services for governmental agencies. The company is the
industry leader in
private sector corrections with more
than 73,000 beds in 79 facilities under
contracts
in the United States, Puerto Rico, Australia and the
United Kingdom.
The company's full range of services
includes finance, design, construction,
renovation and
management of new or existing jails and prisons, as well
as
long-distance inmate transportation services.

Anybody who's ever dealt with government
contracts can tell you they are not something to bet the
farm on. They can delay and delay, and then scrap the
whole procurement if they get nervous about it. The BOP
can just live with overcrowding, ship people around,
etc. Bureaucrats fear looking foolish as much as
anything else, and when a decision may be embarrassing,
then no decision at all may be their safest course.
Will PZN get the big BOP contract? Will political
pressure from California stall the award if they plan to
house them there? Will the BOP decide that PZN's
capital resources are insufficient to assure performance?
What PZN needs is "growrh" Haven't seen much of that
lately, just spec prisons and talk about RFPs.

Just after "the announcement" PZN held steady at
5 due to buyers sitting on a bid of 5. After the
brief run-up (when I'm sure bottom fishers were happy
to take a 20-25% gain) the price drop likely caused
panic selling as long term holders figured the stock
was not going to sustain any gains. There are buyers
at the current level, but unlike the beginning of
the month, these buyers are not sitting on a bid of
5; instead they keep lowering their bids so the
panic sellers move down to meet them. I can't say what
is going to happen to the company and I don't intend
to sell now. If I did want to sell though, I don't
think I would play into this game, ie. I would stick to
an ask price of 5 or better. Just MHO.

It was you and GenJackripper that helped save me
a lot of money. You because you understood the
accounting of what was happening and took the time to
explain it to me. TO GenJackripper for reminding me
charts can predict the future and when we failed to
sucessfully retest $9 in the Fall, orginally reached in July,
we had a serious problem.

We have a huge
amount of technical damage, IMO it's why the stock
bearly moved with all the new news that came out. IMO,
this stock will have to "base" for an extended period
before any real progress can be made, too much stock
over head. I think if we want to be in this story it
makes sense to do it in the new preferred if it gets
voted in.

As of now the new preferred will not
trade in the money in theory(25%
premium=$4.625/.75=$6.166, meaning the preferred will trade flat). If I was
Fortress I would be happy to see the stock hang out right
here as the rights offering will not get the arbs
piling in it as when the stock was $5.50 to $6. Actually
the lower the better. THis might be taken into
consideration. It seems important to see who shows up filing
13D's in the next few months and their ties to
Fortress. It will be battle of the Titans, Dreman versus
Fortress.

Unfortunately, I thought I knew a little about
the private prison business, but a little knowledge
is a dangerous thing, I have found out. I thought
PZN was a perfect fit for me, because I had been
forced into retirement by cancer and was looking for a
source of income. I stupidly sold Merck and bought PZN.
I think I will sell my position and watch the board
again when the March Board Meeting rolls around. I
can't see anything good happening between now and then.

the reasons I haven't sold all:

- Having
held this long and having missed all the obvious exit
points, why give up now?

- the basic business is
still strong (I think).

- I'm stupid.

I
wish I could give you some encouragement. Ultimately I
have been 100% wrong in the two years I've been
posting here. (Well, maybe right in some theory areas,
but certainly wrong in result).

If anyone has
held onto this stock because of something I've
written, I sincerely apologize.