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Corrections Corporation of America Message Board

  • abaldor abaldor Jun 10, 1999 4:34 PM Flag

    Boot management?

    Wishful thinking, the board is handpicked by
    papadoc. In the circular prior to conversion from CCA to
    PZN it is stated clearly that the classified board
    "has the effect of making the removal of an incumbent
    director time consuming, costly and difficult. Which could
    discourage a third party from making a tender offer or
    otherwise attempting to effect a change in control of New
    Prison Realty or other transaction that a stockholder
    may deem beneficial."
    You can accuse papadoc in
    many shortcomings but not in shortsightednes when it
    comes to protecting his own interests.

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