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Corrections Corporation of America Message Board

  • tmm3 tmm3 Aug 4, 1999 1:17 PM Flag

    badly broken

    nothing since 7:30 this morning? don't believe it.

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    • SOUTH BOUNG

    • Yes, I agree there is alot that could happen here
      soon.

      I thought today's volume looked really low so I
      manually checked and today's volume was the lowest this
      year (since the merger). I had to go back to 12/30/98
      to find lower volume. I don't know if this has any
      meaning but it does seem somewhat strange to me with
      everything being so "up in the air" that we could have a day
      with such low volume.

    • First, to buselli: what fun it is
      sometimes,
      though, to smoke a keyboard.
      FWIW I never regret the
      contents of a post, but often do regret hitting the
      "return" button on my little webtv keyboard. A friend once
      named Nic's
      rants as "spasms of the hand." (back
      when one used pencils instead of keyboards)
      He said
      that anger oftentimes manifested itself in these
      spasms, and that they were good things....he also agreed
      to edit and hold mine until either cooler head
      prevailed or the smoke cleared, whichever came first. I
      rather liked yours. It was in fact, well-deserved by its
      recipient.

      To RP, "waiting," as in 'for the other shoe?'.....or
      "waiting," as in that pre-orgasmic state that I think the
      General refers to as the 'plateau?'

      From $13/14 to
      $17/18 and onward:
      1. to next level (17+++): good CC,

      no more Doc-ups, decent #s, resolution of Doc
      status (either gone or in
      diminished role) Naming
      of strong
      person of impeccable credentials as

      CEO.
      2. to third tier (20 and onward):

      identification of the $100MM investor,
      diminution of concern
      @ relationship
      btwn OPCo and PZN...very clear
      to
      investors that OPCo not "going

      independent" as some have tried to
      float trial balloons
      about. (Dog won't hunt, and uncertainty depresses
      PZN
      value unnecessarily.)
      Occupancy rates well
      above the OPCo
      break-even point w/indications of

      growth,
      Time. Biggest factor. Time to get

      away from recent history. Time to let the new
      names sink in, and the Crants
      stigma to be erased.

      Certainty about the dividends---how
      paid,
      whether or not in stock, what
      kind, dilution
      resulting, etc.

      What did I miss, RP?
      baltbear?
      buselli? An "adult" discussion might be boring to us all,
      but arent we glad as hell that we can have one, given
      the options 3 wks ago??????

      Best. Nic

    • I apologize for the confusion. I was trying to be
      cute, implying that if you expected the stock to go up
      it was because you had sold.

      Actually I'm
      from the great state of Tennessee. Drop me an e-mail
      sometime if you wish.

    • Well, as I was reading your list I was all set to
      respond "What about the return of the Tooth Fairy and
      Santa Claus" but then you had to insert that part about
      adult conversations.

      I think you covered it
      pretty well, really. Good job.

      There are times I
      think that at some point in your career you actually
      had a real job!

    • BUSELLI FACTOR...."I promise no more purchases" (watch this baby take off) Thanks for thse commentary Doc.

    • Sometimes this board can be confusing. Perhaps
      someone can help me summarize where we are.

      1. We
      are still waiting for the LOC to officially close,
      aren't we. No official announcement?

      2. This
      business about the $100mm investor- this is speculation
      but there has never been an official announcement
      from the company to this effect, has there?

      3.
      And if this speculation is accurate... we still don't
      know that such an investor can be found, do we? I
      mean, that 100mm bond issue wasn't all that easy to
      close so its reasonable to think that someone with that
      kind of money might be hard to find as an equity
      investor as well.

      4. Finally, how dilutive would
      this investment be?

    • Please check out www.bloomberg.com website and
      key in PZN and follow the trail for the most recent
      news. There, they announce an agreement to extend the
      loc. I believe the official bank closing is scheduled
      for tomorrow.

      Regarding the $100mm investment,
      yes it has been commented on by the company. The
      banks are requiring PZN to raise $100mm and OPCO to
      raise $25mm if they choose to pay the special dividend
      in cash. If paid in ways other than cash they need
      not raise the $100mm.

      Right, we don't know if
      they'll find anyone to be the strategic investor and I've
      heard only low level buzz to the effect that there is
      some interest out there.

      As far as dilution, it
      would depend on what PZN gave the Investor for his
      $100mm. If common stock, then the dilution would of
      course be dependent upon the price of the stock.
      Convertible stock would be less dilutive.

      Hope this
      helps.

    • The 100 million investor is required to get a seat on the board. Fresh blood, good idea.

      ST

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