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Corrections Corporation of America Message Board

  • princessalouie princessalouie May 23, 2001 9:16 AM Flag

    CCA & IR

    Axel, your comments about the missing IR emphasis at yesterday's meeting inspired me to re-read CCA's annual report and previous press releases concerning the backgrounds of their senior management team (the big 5 - Ferguson, Lingo, Quinlan, Puryear, Baylor). While they all have strong credentials in certain areas, none of them have any experience with a company even remotely like CCA; i.e., a controversial one with a story that is not always immediately understood, and with enemies that seek not just its failure but its destruction (i.e. your friendly little protesters outside).

    Ferguson's tenure at a NASDAQ-traded community bank in suburban Memphis is not comparable. Lingo's time at a REIT is certainly nothing like "our" REIT. Puryear trained Dick Cheney to debate Joe Lieberman - well, obviously he did a good job but that has nothing to do with his job duties now. Quinlan worked for the BOP where they only had to please Congress. Baylor sold furniture.

    I'm not picking on these folks, but NONE of them have a background that would indicate sensitivity to investor relations issues. Right now their focus is on taking care of the bank debt and filling empty beds. This is as it should be. But the story behind these activities, and how it can be formed into some kind of model that can get analysts to care about this company again, etc. etc. etc. - needs to be told. And if they don't have the time to do it, they need to hire a competent person who does. Their jobs will ultimately be easier for it.

    P.S. No, I'm not an IR person and I'm not looking for a job. And now I will climb off my soapbox and get ready for work.

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