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Corrections Corporation of America Message Board

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  • buselli45 buselli45 May 20, 1999 10:36 PM Flag


    Attention Flipper!! This may have been asked and
    answered but anyway Paine Webber downgraded PZN per
    Jonathan Litt. In a most negative Research REport 5/20/99
    15:07 P Besides all the reduntant bullshit we're been
    hearing for days now one thing stood out,"In the event
    that a REIT is engaged in an active operating business
    it will be taxed like a traditional C corporation.
    We conjectecture that in addition to the reasons
    management cited for increasing the fees, they also
    increased (sic)the to avoid running afoul of the REIT
    regulation" It went on to say if the IRS invalidates the
    leases the REIT T will be considered in the business of
    operating prisions and it will be taxed as a C corporation.
    The point is,wasn't the main fear that the IRS might
    not hold valid the REIT status and if not the
    business plan would be a disaster. I beleive Jonathan
    Litts statement only strenghtens PZNs position as a
    bonifide REIT. Just my thoughts.

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