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Corrections Corporation of America Message Board

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  • wile_e99 wile_e99 Jan 12, 2000 8:55 PM Flag

    WHC price

    The most convoluted, arcane, unintelligible part
    of the Internal Revenue Code is the part concerning
    the taxation of corporate reorganizations. A straight
    merger would work, but there are also a bunch of other
    possibilities.

    Meanwhile, from the SEC filings, CCA is bankrupt.
    Liabilities exceed assets by $62,554,000. What are the
    shareholders of CCA to receive, according to the proposal? If
    they receive anything, it is a fraud on the
    shareholders of PZN, IMO.

    The perpetual statement that
    we need CCA troubles me. For $62,554,000, you could
    set up a new management division, with a clean slate,
    and no debt.

    Another thing that troubles me is
    that CCA shows a $6,500,000 expense for the use of the
    name CCA. Paid to whom?? Why? Are we supposed to
    assume that expense? Call the damned thing Acme Prison
    Company! That looks to me like another waste of our
    money.

    Wile E.

 
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