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Corrections Corporation of America Message Board

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  • newMK newMK Nov 15, 2000 1:21 PM Flag

    What's new?

    The Q3 and 9 month numbers do NOT include mgmt
    co. (just PZN). A lot of the PZN loss is non-cash
    (e.g. litigation settlement). Also, they stopped
    recording all the rent due from the mgmt co, even though
    the mgmt co still expenses it (I
    think).

    Doesn't mean that they're going to survive, just that
    that no conclusions can be drawn yet.
    Whatever the
    real results, even at their old net income margin of
    11% (and a billion dollars of revenue, which is
    high), they will have trouble covering the 10% ++ cost
    of interest on the billion dollars of debt. But this
    is no different than it was yesterday or the day
    before or the month before or the year before, or even
    two years ago.

 
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