If you'll pardon the General, tom, he's continuously baffled by posters who seek investment opinions of a stock from among the other annonymous posters (or equally annonymous lurkers) to a stock's message board.
For all we know, some of these opiners could be zapping to this forum from the Marquis de Sade Home for Unrepentent Investment Advisors. You and the General have no idea who the people represented by fictitious screen names here really are and, more importantly, what the hell do they really know about what's going on with this company.
Speaking for himself, the General places credibility on very few contributors to this thread. Among them (besides himself) there is flipper, MK's wife (as well as MK), pcbondsman, and retiredpaperman (and the General ain't too sure about himself).
The problem we have, is that MK's wife doesn't post to this board and MK's utterances are "tainted" by the General's belief that he is Doc's illegitimate issue. (Note to MK: It's only 4 weeks away from your annual Father's Day phone call.)
On the other hand, last Wednesday, looking_4_a_sign posted message #17538, which was short and sweet.
Albeit the General had already been aware of what l_4_a_s was alluding to, did you ever trouble yourself, tom, to follow up on what l_4_a_s was calling to our attention?
If you had gone to the Insider page for CXW and clicked it on, you would've seen that one of the members of the company's BOD, Henri L. Wedell, has been accumulating more than 5 million shares of CXW SINCE 12/13/00, a little more than 6 months ago.
Now pre-r-s or post-r-s (now, in excess of a half a million shares) that accumulation amounts to more than 2% of the company's shares outstanding.
And we can assume that since director Wedell attends BOD meetings and is privy to management's machinations, that he likely gets his phone calls answered by the CEO or the custodial janitor @ 10 Burton Hills Boulevard, or any other CCA facility that he chooses to get answers from, that Wedell PROBABLY knows a hell-of-a-lot more of what's going on within CCA than the "odd-lot" General does or, for that matter, flipper, MK, pc, etcetera, etcetera, etcetera.
If you bother to click on Wedell's name (on the Insider page), you'll be presented with a summary of his holdings and activity. With an adding machine or calculator handy, you can see that he's credited with direct and indirect holdings totaling 5,547,724 shares (post-r-s, that's 554,772 shares). The fact that the total of his listed "activity" is 5,746,443 shares, leaving a discrepancy of 198,719 shares is immaterial to the General's point.
If you then consider just the 2,993,600 (pre-r-s) shares acquired within the past 5 months (since 12/20/00) at a cost indicated, totaling $1,757,068, you'll realize that Wedell's basis for that (major) portion of his total holdings was $0.586941475 or, post-r-s, $5.87 per share.
While a couple'a million bucks could be chump change for Henri, his accumulation of shares in the company AS AN INSIDER should certainly carry more "weight" than any "opinion" of this stock's merits from someone unknown and unidentifiable to you, who may or may not have a vested interest in CXW ("long" or "short") that you are not even aware of.
The General expects that l_4_a_s's posting of #17538 wasn't just done for the exercise. And while he may not have taken the time and trouble to spell it all out for you as the General has tried to do here, it behooves you, given the alert, to do a little "homework" yourself.
Asking annonymous "unknowns" for investment-merit opinions is not doing your "homework."
I had to show your post to Mrs. MK. It seems to have triggered something not quite akin to nostalgia - maybe closer to neuralgia.
She commented, with a crescendo in her tone that I've learned to "respect", "Tell the general that Mrs. MK has lost all credibility. She lost all credibility the day she didn't listen to herself. The day I heard the word "REIT" I wanted to sell it all. How can anyone who doesn't follow her own instincts have any credibility? The REIT didn't make any sense." (she last sold at 7, pre-rs).
She then proceeded to indict MK himself, an allegedly astute financial kind of guy (at least at the time of exchanging vows), for some perverted form of self-delusion, along the lines of "If you're so smart and hated REITs so much, why didn't you let me sell?"
Of course, at that point I didn't get into the issue of Mrs. MK's actions ever theretofor or thereafter being subject to MK's "letting" in any way, shape or form.
Ah well...I still have some stock that has been split twice, merged for 7/8ths, re-merged and now reverse split. More importantly, and much more fortunately, I still have Mrs. MK!
P.S. Are we sure she doesn't post? I thought I heard some Cleo overtones in her comments. Oops - I let her read this, and she swatted me for the Cleo reference.