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Corrections Corporation of America Message Board

  • tfilthaut tfilthaut Jan 19, 2000 10:23 AM Flag

    Dividend rate for 2000?

    Does any one have an idea what PZN's forecasted dividend yield will be for 2000. What I have been able to find is an annual dividend of $2.40 which is around a 46% yield. Is this probable?

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    • maybe that where the erosion of OPCO's funds were
      going. I do think the management and staff of the
      prisons run by CCA and OPCO have done a very good job. I
      am proud of their work and appreciate their efforts.
      Unfortunately, Doc and Jr. got too big for their britches and
      got in over their heads in taking on a financing
      scheme that did not work. I suspect they may have had a
      little larceny in mind when they set the deal up, too.
      In addition to the financing debacle, the lack of
      communications has bordered on criminal, in withholding so much
      critical information from stockholders. JMHO

    • If PZN stuck to knitting, designing and building
      physical facilities, we would be handing WackyHut our
      silver platter. We do it better and we do it cheaper. I
      agree this could be a very vital part of the business
      but I can't see taking something so good and dropping
      it. You must remember the CO to confinee ratio is
      about doing it cheaper. If you can do it better and
      cheaper with a lower ratio and less security problems,
      then we have beaten the competition. That is what we
      do. That is the business. We gave it away once when
      we REITed. Let's use this opportunity to get it
      back.

    • if we could be at loggerheads with ther unions in
      CA that would be great for the company. At least it
      would imply a stalemate.

      Instead this is what we
      have:
      1)In 1998 the union gave over $2 million to the Dem.
      Gov Davis (CCA gave $25,000 to Davis, Doc gave
      $25,000 to CA Rep. party, and Beasley gave $5,000 Davis'
      Republican opponent Dan Lungren. CCA also gave $2,500 to the
      CA AG's opponent)

      2)The union has killed
      every bill we have run in CA for the past 4
      years

      3) The union got a NEW 4,500-bed maximum security
      (public)prison authorized last year

      4) The union ran a
      bill (signed by the gov) to prohibit private companies
      from importing inmates into CA. [Note: CCA did not
      even oppose this bill in the legislature]

      5)
      the CA DOC just cancelled an RFP for 4-500 bed medium
      security prisons saying they don't need medium secuirt
      beds, just max and min

      With so many other states
      like CO, MN, ID, etc, why fight this fight in CA?

    • Why are we so hard headed about CA, when we have
      an empty prison there because we are at loggerheads
      with the guards' union, who are backed by Gov. Grey
      Davis ? Why in the heck can't management be more
      communicative about things like this ? Do they want to try to
      bankrupt the company and use some subtrefuge to buy it
      back at pennies on the dollar ?

    • ""designing and building the physical facilites,
      an area where they can definitely do it cheaper, and
      let the govs (state, counties, fed) lease AND STAFF
      them? ""

      CPV, Correctional Properities Trust is
      going to start doing that. They also plan on doing
      sale/leasebacks directly with Gov't entities.

    • if fact, I've heard that there are discussions
      going on concerning Cal City selling to the state. One
      of the biggest hurdles from what I've heard is that
      the prison was not built to CA standards (porcelain
      toilets, sinks, etc.)

      These items could be fixed
      or the state would pay for the retrofit to meet its
      own standards.

      Either way, the company gets
      out of this current nightmare, money actually starts
      coming into the facility instead of going
      out.

      I've heard the interest payment alone on the facility
      is close to $1 million a month. Also, like you
      pointed out, I've heard that the unions would not havew a
      problem with the state buying/leasing the facility as
      long as the state opoerates it.

      Could be a new
      trend. I read that the company sold its Jail in Florida
      (Frostproof, I think) to the locals there. A lot less headache
      involved.

    • just as there is a spectrum of different
      personalities working for 'private' prison companies like CCA,
      WackyHut, et. al., there are multiple types working (in and
      out of unions) for gov. managed
      facilites.

      Spidey (hope you don't mind me using you for and
      example) represents one category, many of the shills and
      bush-beaters vilified in the past on the board are from a
      different camp.

      What if: PZN stuck to its knitting,
      designing and building the physical facilites, an area
      where they can definitely do it cheaper, and let the
      govs (state, counties, fed) lease AND STAFF them?
      Union opposition would certainly be lessened, the large
      recurring payroll costs would dwindle to a pittance, and
      the non-recurring costs for land acquistion, design,
      and construction supervision would be manageable.
      CO/LEO to confinee ratios, escapes, employee turnover,
      salary negotiation, and a host of other headaches would
      go away. Where are the major cost savings if staff
      quantity/quality reductions result in a lower 'quality of service'
      to the customer (no, not the cons: the govs. we are
      holding the cons for!)?

      Too Many Aggravations:
      Could Keen Employees Repair?

    • there will always be trouble in every prision
      system private of gov. That the nature of the beast. It
      sounds like the gov. Emolpyees posting here work for
      free. Wouldn't want to make a buck off guarding
      prisoners would you. The only reason pzn-cca dosn't work is
      management.......didn't get out at $5.00 my mistake shoud be one more pop
      before bankruptcy i've got my sell in. Crants can kiss
      my a---

    • that "wanting to make a buck" and introducing
      competition into a marketplace (any marketplace) is not a bad
      thing....in fact, it usually results in an improved process
      and a better product. Why....because they have to,
      otherwise, they will lose their business.

      I've seen
      problems in private's facilities, but I've seen more in
      the public areana, and in the public areana, there is
      no way to get rid of "that" operation. If the
      privates don't do a good job, the gov't can just move the
      contract to another provider, or take it in-house.
      Therefore, the privates must operate at a higher standard. I
      agree this doesn't always happen (but that's the case
      in any real world business), but I have seen
      treatment programs that other private providers have that
      "do produce a better world", and I've seen a
      presentation by CRN that has indepenant studies that their
      programs result in lower recidivism rates than the
      public.

      The bottom line is that privates will never come
      close to having a majority of the nation's prison
      business ... I don't think privates have any desire to
      take away jobs from existing public programs (in fact,
      privates are a great "second life" for many seasoned
      corrections people). There is simply so much "new growth" in
      the corrections populations that there is plenty of
      business to go around for the privates and the public. And
      that's one more reason this industry will never go away.

    • Your right, private prisons will be around as
      long as their are people who want to make a buck. To
      think otherwise I would have to believe in a socialist
      utopia. I'm still fighting for a better world though.

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