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Corrections Corporation of America Message Board

  • toptalk99 toptalk99 Mar 4, 2000 12:07 PM Flag

    Tax Questions for newMK

    I think it was le_chacal in post # 11298, that
    also questioned the tax amounts, and what was, may be,
    and was not, owing.
    Please go over that post and I
    would be interested in your usually knowledgable
    comments. Tax is always more confusing than it should be

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    • low...

    • You are right - I retract my statement that
      Friday's volume must be a mistake. I have looked at
      Yahoo's daily volume numbers for the last 3 months.
      Although Friday's 87,200 is less than half of the next
      lowest volume, the volatility of PZN daily volume is
      incredible, so it is not unreasonable that it would be so

      There were several days below 300,000,
      and one over 7 million. Also, volume has not reached
      700,000 on any day in March to date.

      Perhaps low
      volume simply reflects an absence of institutional/block

    • Scottrade shows the same low volume as Yahoo; IBD shows a volume reduction of 85%. Could it be that the narrow trading range, 1/4 point, discouraged day trading?

    • That is where I did count it. Why do you think that could not be a typo?

    • you can count it on the daily chart here on Yahoo....

    • Probably signifies a typo (someone left off the final zero).

    • today of 87,200 for PZN?.. very unusual signifying ? Nothing?

    • If we are to merge PZN & OPCO, then OPCO should
      be required to bring something to the table. They
      should be required to raise capital in a rights offering
      to their shareholders before being allowed to merger
      with PZN. No one should expect PZN investors to front
      the total cost. If OPCO doesn't bring capital then
      let them go bankrupt and PZN can take over PZN for
      the debt it is owed and OPCO shareholders, preferred
      included, should lose all equity. Another option would be
      for PZN to buy all outstanding shares of OPCO for
      what they are worth, next to nothing. This avenue
      might be cheaper than dealing with an OPCO bankruptcy.
      Anyone have any thoughts on this?

    • I agree that there is no inherent value in
      keeping OPCO separate. I also agree that allowing OPCO
      $723/bed profit would be excessive. That number was just
      for illustration. All I am trying to do is to analyze
      the situation carefully.

      There is probably
      general agreement that the current structure is failing
      because OPCO is losing money. My concern with both the
      Blackstone and PL merger proposals is that they appear to
      keep OPCO investors whole, while letting PZN investors
      absorb all the losses to date. It is not clear to me
      that this is necessary or appropriate.

      what I need to know is this: what does OPCO's balance
      sheet look like? What does OPCO owe creditors other
      than PZN, and how much have OPCO investors put into

      From the PZN shareholder's point of view, an OPCO
      bankruptcy should have the advantage of eliminating any
      equity that OPCO investors have in OPCO. That leaves
      only OPCO's creditors (excluding PZN) to be paid.

    • I've learned from your responses to my posts that I don't articulate my thoughts very well.

      When I said "Unless OPCO disappears.." I meant "Unless OPCO is reunited with PZN..."

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