Does any one have an idea what PZN's forecasted dividend yield will be for 2000. What I have been able to find is an annual dividend of $2.40 which is around a 46% yield. Is this probable?
maybe that where the erosion of OPCO's funds were
going. I do think the management and staff of the
prisons run by CCA and OPCO have done a very good job. I
am proud of their work and appreciate their efforts.
Unfortunately, Doc and Jr. got too big for their britches and
got in over their heads in taking on a financing
scheme that did not work. I suspect they may have had a
little larceny in mind when they set the deal up, too.
In addition to the financing debacle, the lack of
communications has bordered on criminal, in withholding so much
critical information from stockholders. JMHO
If PZN stuck to knitting, designing and building
physical facilities, we would be handing WackyHut our
silver platter. We do it better and we do it cheaper. I
agree this could be a very vital part of the business
but I can't see taking something so good and dropping
it. You must remember the CO to confinee ratio is
about doing it cheaper. If you can do it better and
cheaper with a lower ratio and less security problems,
then we have beaten the competition. That is what we
do. That is the business. We gave it away once when
we REITed. Let's use this opportunity to get it
if we could be at loggerheads with ther unions in
CA that would be great for the company. At least it
would imply a stalemate.
Instead this is what we
1)In 1998 the union gave over $2 million to the Dem.
Gov Davis (CCA gave $25,000 to Davis, Doc gave
$25,000 to CA Rep. party, and Beasley gave $5,000 Davis'
Republican opponent Dan Lungren. CCA also gave $2,500 to the
CA AG's opponent)
2)The union has killed
every bill we have run in CA for the past 4
3) The union got a NEW 4,500-bed maximum security
(public)prison authorized last year
4) The union ran a
bill (signed by the gov) to prohibit private companies
from importing inmates into CA. [Note: CCA did not
even oppose this bill in the legislature]
the CA DOC just cancelled an RFP for 4-500 bed medium
security prisons saying they don't need medium secuirt
beds, just max and min
With so many other states
like CO, MN, ID, etc, why fight this fight in CA?
Why are we so hard headed about CA, when we have
an empty prison there because we are at loggerheads
with the guards' union, who are backed by Gov. Grey
Davis ? Why in the heck can't management be more
communicative about things like this ? Do they want to try to
bankrupt the company and use some subtrefuge to buy it
back at pennies on the dollar ?
""designing and building the physical facilites,
an area where they can definitely do it cheaper, and
let the govs (state, counties, fed) lease AND STAFF
CPV, Correctional Properities Trust is
going to start doing that. They also plan on doing
sale/leasebacks directly with Gov't entities.
if fact, I've heard that there are discussions
going on concerning Cal City selling to the state. One
of the biggest hurdles from what I've heard is that
the prison was not built to CA standards (porcelain
toilets, sinks, etc.)
These items could be fixed
or the state would pay for the retrofit to meet its
Either way, the company gets
out of this current nightmare, money actually starts
coming into the facility instead of going
I've heard the interest payment alone on the facility
is close to $1 million a month. Also, like you
pointed out, I've heard that the unions would not havew a
problem with the state buying/leasing the facility as
long as the state opoerates it.
Could be a new
trend. I read that the company sold its Jail in Florida
(Frostproof, I think) to the locals there. A lot less headache
just as there is a spectrum of different
personalities working for 'private' prison companies like CCA,
WackyHut, et. al., there are multiple types working (in and
out of unions) for gov. managed
Spidey (hope you don't mind me using you for and
example) represents one category, many of the shills and
bush-beaters vilified in the past on the board are from a
What if: PZN stuck to its knitting,
designing and building the physical facilites, an area
where they can definitely do it cheaper, and let the
govs (state, counties, fed) lease AND STAFF them?
Union opposition would certainly be lessened, the large
recurring payroll costs would dwindle to a pittance, and
the non-recurring costs for land acquistion, design,
and construction supervision would be manageable.
CO/LEO to confinee ratios, escapes, employee turnover,
salary negotiation, and a host of other headaches would
go away. Where are the major cost savings if staff
quantity/quality reductions result in a lower 'quality of service'
to the customer (no, not the cons: the govs. we are
holding the cons for!)?
Too Many Aggravations:
Could Keen Employees Repair?
there will always be trouble in every prision
system private of gov. That the nature of the beast. It
sounds like the gov. Emolpyees posting here work for
free. Wouldn't want to make a buck off guarding
prisoners would you. The only reason pzn-cca dosn't work is
management.......didn't get out at $5.00 my mistake shoud be one more pop
before bankruptcy i've got my sell in. Crants can kiss
that "wanting to make a buck" and introducing
competition into a marketplace (any marketplace) is not a bad
thing....in fact, it usually results in an improved process
and a better product. Why....because they have to,
otherwise, they will lose their business.
problems in private's facilities, but I've seen more in
the public areana, and in the public areana, there is
no way to get rid of "that" operation. If the
privates don't do a good job, the gov't can just move the
contract to another provider, or take it in-house.
Therefore, the privates must operate at a higher standard. I
agree this doesn't always happen (but that's the case
in any real world business), but I have seen
treatment programs that other private providers have that
"do produce a better world", and I've seen a
presentation by CRN that has indepenant studies that their
programs result in lower recidivism rates than the
The bottom line is that privates will never come
close to having a majority of the nation's prison
business ... I don't think privates have any desire to
take away jobs from existing public programs (in fact,
privates are a great "second life" for many seasoned
corrections people). There is simply so much "new growth" in
the corrections populations that there is plenty of
business to go around for the privates and the public. And
that's one more reason this industry will never go away.
Your right, private prisons will be around as
long as their are people who want to make a buck. To
think otherwise I would have to believe in a socialist
utopia. I'm still fighting for a better world though.