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Corrections Corporation of America Message Board

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  • socksey socksey Jan 14, 2000 12:35 AM Flag

    WHC price

    This is a desperate situation the company finds
    itself in. Also I agree that to a certain extent Tom
    Beasley & Doc find themselves in this boat with us. It is
    obvious to me that the company needs a large cash
    infusion not just to grow but to continue operations
    without Chapter 11 protection. The company has been
    hemoraging cash for the last year. An since they have
    proposed a highly dilutive deal which gives away a quarter
    of the company's equity to new investors that says
    the situation will not change in the short
    term.
    But what continues to baffle me is why they did not
    go back to the common shareholders with some type of
    equity offering. It also troubles me that they would not
    disclose more in the conference call about why what
    management has proposed is the right course of action for
    the shareholders of the company. I can not believe
    that with this lack of disclosure this management team
    has my interest at heart.

 
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