They plan to announce everything in one big
sweeping news release. It sounded to me that
deciding which SI to take which is
far better than the
speculation that there
isnt a SI.
operationally, everything is going
well. Also, they are very
concerned about getting stock price up since they all own
When asked about special dividend, she said
nothing has changed, we intend to pay it"
to the ball drops.....
As someone pointed out a few days ago, a pemanent
kiting (one-year delay) of the regular dividend would
only cost 4%, and would be the equivalent of not
paying the special. Pretty cheap capital, and a lot of
financing problems would go away. I vote yes!
until late 2000 will definitely keep the stock in
the crapper, barring news of a mega contract. Would
you want Doc and Junior owing you money that might be
paid in cash or might be paid in scrip? I bought this
stock because of representations by the company that it
would pay the special by December AND 95% FFO. The
company has already declared 3 dividends from FFO, and
they are trying to take them back (??) by saying it
wasn't really from FFO, it was the special? As I said
repeatedly INL (I'm no lawyer), but this does not seem
kosher (and INR -- I'm no rabbi, either). As a layman
and experienced investor (with scars to prove it), I
think this board has dug a very deep hole, and can't
seem to build a ladder to climb out. Anybody want to
buy a bridge?
I think Kerry Reitz is one of the sweetest people
I've ever talked to at CCA/PZN, although I haven't
talked to her in a long time. One reason is that she
doesn't sit on the Board or tap Doc's phone line. She
(and others in IR)operate under what must be extremely
tight disclosure orders, constained by SEC rules, Doc's
instructions and common sense. I would only bother her about
mechanical matters (stock transfers) or things that are
avilable to the public but hard to find.
the Board has met or not is moot. When they do, the
big decisions will already have been made. What's
important are the phone calls - between Doc, the Board and
influential shareholders, not to mention the attorneys,
investment bankers, lending institutions and accountants. At
this point, I'm not sure who is calling the shots.
Does Doc still have power? Is someone on the Board
taking control? What's Sodexho doing? Or maybe the
attorneys are running it now. Who knows? IR will probably
be told about the same time we are.
Reasonable point given this odd 1999 year. I
definately made more money on CRN than WHC, but I've been
investing in this business since the mid-90's, and there
have been many up/down movements in these stocks since
then. I've been in and out of all of them, made the
most $$ on CRN, and most of the $$ I made in WHC was
before 1998, but there are still good opportunities. I
own mostly CRN now, with a little still spread in the
something got lost in the translation, perhaps,
but as NHY originially pointed out (and I confirmed
by reading the Code), the 1999 regular (95%)
dividend can be paid as late as December 2000, if declared
by the due date of the 1999 tax return (as late as
9-15-00, with extensions).
Your accountant read
Section 857. Have him or her read further (858), and he
can confirm the above.
No charge for this, and
If they tried chapter 11, what message would that
send to the banks and the markets? As they say, I'm no
lawyer, but it would smack of so much desperation that
your average CEO might be shamed into resigning. But
never said Doc was average.
might be that PZN doesn't meet the time tables to
qualify as a reit, would not that result in an instant
de-reiting? Wouldn't the lawyers love that one?