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Corrections Corporation of America Message Board

  • flipper_58 flipper_58 Nov 9, 2000 9:45 AM Flag

    Dreman unloads 23mm common

    According to recent 13G Dreman's Value Mang. LLC holdings dropped from 33mm to 10mm....ouch.

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    • Are you viewing a filing that leaves a holding of
      10,010,460 common shares = 8.45%? Could this be considered a
      tax sale since
      mutual funds close out their tax
      year 10/31 and over 650,000 shares of pr.B were

      • 1 Reply to brolexwatch
      • from the recent proxy:
        As the
        result of the conversion of the Company's Series B
        Preferred Stock
        (assuming conversion of substantially
        all of the outstanding shares of Series
        Preferred Stock), the issuance of shares of Common Stock in
        the mergers with
        PMSI and JJFMSI, and the initial
        issuance of Common Stock in connection with
        stockholder litigation, the Company would have approximately
        of Common Stock issued and outstanding
        by the end of 2000. The Company may also
        required to issue up to an additional 62,322,034 shares of
        Common Stock upon
        the exercise or conversion of
        warrants and its currently outstanding
        subordinated notes. Accordingly, as a result of the exercise
        these warrants and convertible notes, together with the
        issuance of additional
        shares of Common Stock in the
        stockholder litigation, the Company could have up
        to an
        aggregate of approximately 453,915,483 shares of Common
        Stock issued and
        outstanding, on a fully diluted
        basis, not including shares of Common Stock
        upon the exercise of outstanding

        As of the proxy (11/8) roughly 159mm shares stood

    • Flipper, for this reason, so many shares, I'm all
      for a reverse split as will be voted on at the
      December meeting. They stated that the reverse split that
      will be voted on will between a 1:10 to a 1:20. I
      would lean toward the 1:20 personally.

      I realize
      that in the short term this might not be in the stocks
      best interest but over the long haul, I think it's the
      way to go.

      I always enjoy your posts...thanks
      for the good job you do in sharing your thoughts.

    • bulletin board?...eck!!!

      "In the event
      that the
      Company's Common Stock is delisted from
      the NYSE and the Company fails to be
      listed on
      either AMEX or NASDAQ, it is likely that the shares
      could not be
      listed on the NASDAQ Small-Cap Market
      (the "Small-Cap Market") without a waiver
      certain listing requirements. In such event, the
      Company's Common Stock would
      instead be traded on the
      NASDAQ over-the-counter market."

    • Peaking around today. Market is pretty awful and
      there is nothing to do really. Dreman unloading is long
      overdue. Never understood why they did not do it right
      after the PL deal went dead. That was the final blow to
      this POS.

      As to anyone picking up this stock,
      those doing it have to be ready to lose their capital.
      There is no upside left. This stock is

      As I said we are on the 25c/share for xMas and below
      10c next year (price pre-reverse split) if management
      has not thrown the towel by then. The reverse split
      is not going to make anything easier at all other
      than preventing delisting and giving the appearance
      the stock has some value. ($10 looks better than
      10c). If reverse split decision is cancelled (things
      always change as they move with former PZN) this stock
      will go OTC.

      The question for me is not when
      they will recover but how it will end and who is going
      to get what.

13.70-0.36(-2.56%)Oct 20 4:02 PMEDT