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Corrections Corporation of America Message Board

  • wbw46 wbw46 Jul 19, 2000 1:00 PM Flag

    Looks like some Pf holder getting out.

    Anyone have thoughts on PZN_pa.

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    • mailed before August 1st.
      The preliminary
      Proxy shows that
      the Special Meeting of
      Shareholders
      which has to approve the restructuring plan, and the
      required
      revisions to PZN's corporate charter,
      will take place on
      some date in
      September and if approved, the
      probable effective date would be
      September 30, 2000.

    • Yes I am wide awake but could have opened my eyes
      a little sooner! I still think your criticism of
      some pzn investors is arrogant and unnecessary.
      However, being a strong advocate of free speach you
      absolutely have a right to voice your opinions. May there be
      no other PZN's in our respective investing futures!
      Take care. G

    • Anyone who has received proxy material, when is the special meeting, and what is the proposed effective date of the re-merger?

    • <"Why wouldn't they just bankrupt PZN and let
      CCA take over the contracts? Could relieve a lot of
      debt.">

      The posts on this board advocating PZN's bankruptcy
      are obviously not representing the interests of
      common shareholders.

      Under bankruptcy, common
      shareholders of PZN will get ZERO, or close to it. Certainly,
      nothing approaching $2 per share would go to common
      shareholders. Debt would only be "relieved" by allowing the
      creditors to take ownership of PZN assets, which do have
      value. That is why common shareholders would end up with
      nothing.

      What I find particularly amazing is the suggesttion
      that we "let CCA take over the contracts". CCA is the
      entity that should go bankrupt first, because CCA is
      insolvent now due to its obligations to PZN. The
      contractual structure between CCA and PZN was not the good
      deal for PZN that others have suggested. It was a wild
      bet by CCA that it could make an enormous rate of
      return on virtually no investment by the insider-owners.
      That bet failed, and now the insider-owners want to
      salvage what they can from the assets owned by PZN
      shareholders.

      The crooks in CCA deserve to go to jail, not to pick
      up the pieces left over after PZN shareholders lose
      their entire investment.

      If PZN goes bankrupt,
      lets be certain that CCA goes bankrupt too.

    • Bid now 50000 shares at 6 1/2. It's nice to see a few thumbs in the dike.

 
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