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Corrections Corporation of America Message Board

lmtrack 265 posts  |  Last Activity: Mar 27, 2014 2:44 PM Member since: Aug 4, 1999
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  • Reply to

    anyone know what this refers to?

    by dwatts4827 Mar 27, 2014 2:36 PM
    lmtrack lmtrack Mar 27, 2014 2:44 PM Flag

    17 CFR 240.24B-2

    NONDISCLOSURE OF INFORMATION FILED WITH THE COMMISSION AND WITH ANY EXCHANGE

    {partial extract}

    "Any person filing any registration statement, report, application, statement, correspondence, notice or other document (herein referred to as the material filed) pursuant to the Act may make written objection to the public disclosure of any information contained therein in accordance with the procedure set forth below. The procedure provided in this rule shall be the exclusive means of requesting confidential treatment of information required to be filed under the Act."

    "The person shall omit from material filed the portion thereof which it desires to keep undisclosed (hereinafter called the confidential portion). In lieu thereof, it shall indicate at the appropriate place in the material filed that the confidential portion has been so omitted and filed separately with the Commission."

    H.T.H.

  • Reply to

    Trust Prefered deferrals in Tabernas

    by ethison Feb 22, 2014 12:02 PM
    lmtrack lmtrack Feb 25, 2014 6:21 PM Flag

    Deferral periods? What "deferral periods"?
    It's the 5 year no-call provisions that are expiring.
    "At December 31, 2012, our total investment in Taberna VIII and Taberna IX is approximately $550.0 million which represents both preferred equity and various levels of debt positions. Approximately 87.9% of the investments are in the form of TruPS and TruPS related receivables issued by commercial real estate companies. The typical TruPS instruments are unsecured borrowings with a 30 year maturity and a 5 year no-call provision that prevented prepayments. Beginning in 2012, the no-call provisions for TruPS collateralizing Taberna VIII and Taberna IX started to expire and the TruPS issuers have the option to prepay the instruments on which the no-call provisions have expired. "

  • Reply to

    Taberna

    by hockeyzan Feb 25, 2014 2:52 PM
    lmtrack lmtrack Feb 25, 2014 6:16 PM Flag

    For the most recent numbers, see Table 9 on page 23 of the 10-Q filed with the SEC 2013-11-05.
    Look for this heading:
    "NOTE 9: VARIABLE INTEREST ENTITIES
    "The following table presents the assets and liabilities of our consolidated VIEs as of each respective date. As of September 30, 2013 and December 31, 2012, our consolidated VIEs were: Taberna Preferred Funding VIII, Ltd., or Taberna VIII, Taberna Preferred Funding IX, Ltd, or Taberna IX, RAIT I, RAIT II, Willow Grove and Cherry Hill."

    About all the Taberna specific info you will find is on page 35:
    "Taberna VIII—Taberna VIII has $484.0 million of total collateral at par value, of which $49.3 million is defaulted. The current OC test is failing at 80.9% with an OC trigger of 103.5%. We currently own $40.0 million of the securities that were originally rated investment grade and $93.0 million of the non-investment grade securities issued by this securitization. We do not expect to receive any distributions from this securitization other than our senior management fees for the foreseeable future."

    "Taberna IX—Taberna IX has $517.7 million of total collateral at par value, of which $121.8 million is defaulted. The current OC test is failing at 66.8% with an OC trigger of 105.4%. We currently own $89.0 million of the securities that were originally rated investment grade and $97.5 million of the non-investment grade securities issued by this securitization. We do not expect to receive any distributions from this securitization other than our senior management fees for the foreseeable future."

    page 38:
    "Taberna VIII and Taberna IX securitizations (314,690) (4.48)"
    That's a $314.69 million hit against value, which represents a negative $4.48 per share depression of Book Value Per Share (BVPS) from the two Tabernas.

    When the 10-K for full year 2013 is filed (soon?), more current information might be forthcoming.

    Or not.

  • lmtrack lmtrack Feb 12, 2014 10:10 AM Flag

    "Window length trendline: 28, 30, 24, 16, 21, 26, 28"

    Mean 24.714
    Median 26
    Mode 28
    95% confidence level 4.49
    Standard Deviation 4.855
    Sample Variance 23.57
    Kurtosis .457

    predicted range 20 30 call it 25 ± 5 with 1 outlier

  • Today's issue: 7,475,000 shares at a maximum price of $8.79 yielding at most $65,705,250 $8,463

    Current market price $8.56 on volume of 92,400 shares (10:33 am)

    Property list/from the prospectus dated 2014.01.21:

    Property,location/date acquired/year renovated/units/occupancy rate/average rental $
    Belle Creek/Henderson/Colorado/4.29.2011/2011/162/97.5/932
    Berkshire Square/Indianapolis/Indiana/9.19.2013/2012/354/96.6/580
    Centrepoint/Tucson/Arizona/12.16.2011/2006/320/91.6/817
    Copper Mill/Austin/Texas/4.29.2011/2010/320/95.2/736
    Crestmont/Marietta/Georgia/4.29.2011/2010/228/93.2/708
    Cumberland Glen/Smyrna/Georgia/4.29.2011/2010/222/96.1/668
    Heritage Trace/Newport News/Virginia/4.29./2011/2011/200/89.0/717
    Runaway Bay/Indianapolis/Indiana/10.11.2012/2002/192/94.8/922
    The Crossings/Jackson/Mississippi/11.22.2013/2006/432/96.1/787
    Tresa at Arrowhead/Phoenix/Arizona/4.29.2011/2006/360/94.4/827

  • yankeeboy4748 had the earliest use of the "magic phrase" I could find.in the RAS message board archive

    Here he is, from Sep 7, 2007, talking about Dr. F:

    He is a good man. No one is perfect,esp. myself. He is rational. He should just learn to do some trading around a core position,which he has done,but he has to do more.All longs and shorts should learn how to trade,that is how the money is made.

    "trading around a core position"

    Maybe not the first use of that phrase on this local RAS board, but at least it shows that it's not a recent fad.
    At 6 years old, it's in first grade by now.

  • Reply to

    Selected extract from RAS div announcement

    by for15reasons Dec 12, 2013 4:43 PM
    lmtrack lmtrack Dec 12, 2013 4:57 PM Flag

    With an equivalent annual return over 7.5%, more likely there will be year end window dressing by institutional managers and retail investors trying to buy the dividend between now and EOY.
    Maybe the $9.00 target is in reach, after all.

  • Reply to

    Today is Thursday

    by davisfouger Aug 29, 2013 1:41 PM
    lmtrack lmtrack Aug 29, 2013 4:53 PM Flag

    Give it up, ghost. Your tired routine has been run into the ground by now.

  • Reply to

    three of the larger stockholders

    by kazua1observer May 6, 2013 6:14 PM
    lmtrack lmtrack May 6, 2013 6:22 PM Flag

    Don't forget these guys (all 1,000,000 shares and up):
    MUNDER CAPITAL MANAGEMENT 2,580,956 shares
    JPMORGAN CHASE & CO 2,200,550 shares
    MORGAN STANLEY 1,856,157 shares
    CETERA ADVISORS LLC 1,688,512 shares
    BARCLAYS GLOBAL INVESTORS UK HOLDINGS LTD 1,662,798 shares
    VANGUARD GROUP INC 1,457,505 shares
    FMR LLC 1,257,239 shares
    DEUTSCHE BANK AG 1,001,810 shares
    BHR CAPITAL LLC 1,000,000 shares

  • Who are the biggest investors in RAIT/RAS?

    ARS VI Investor I, LLC=6,455,150=9.6% (Matthew W. Kaplan)
    BlackRock, Inc.=3,519,528=5.8% (Laurence D. Fink)
    RIMA Senvest Management, L.L.C.=5,495,992=8.3% (Richard Mashaal)

    Between them, the "big three" own 15,470,670 shares, 25.48% of the 60,720,757 common shares outstanding
    (as of March 15, 2013)

  • Reply to

    a bird in the hand...

    by kazua1observer Nov 27, 2006 7:40 PM
    lmtrack lmtrack Dec 28, 2012 10:46 AM Flag

    Whatever happened to Kaz: he used to update the short interest every month, but he hasn't posted in ages...

  • Reply to

    Ras losing the business - part 2

    by andynsheri May 30, 2012 1:35 PM
    lmtrack lmtrack May 31, 2012 4:19 AM Flag

    Is the quarter-over-quarter rental income adversely affected because of the transfer of the best-yielding high-occupancy properties to IRT?

    I thought that, with RAS/RAIT the only shareholder of IRT, it is still a W.O.S.* and therefore all expenses and revenues are still consolidated on the parent company balance sheet, no?

    *Wholly Owned Subsidiary

    If this is _not_ the case, then the loss of rental revenue is easily understood: IRT is getting the gravy, and RAS loses out, except for management fees, many of which have been waived for the initial start-up transition phase of IRT.

    I stand ready to read any corrections/adjustments/arguments on either side.

    I'll read them. I won't necessarily agree with them, but I'll read them!

  • "In April 2012, we redeemed all of our outstanding 6.875% convertible senior notes for cash."

    No small thing...this was allegedly the Sword of Damocles hanging over RAS for years...now a total non-event!

  • (in thousands)
    "total assets $2,849,326"
    "total liabilities $1,998,150"
    "total equity $851,176"

    'raw equity per share' (Lame Mantracker jargon) $17.057

  • "A total of 49,901,961 common shares of beneficial interest, par value $0.03 per share, of the registrant were outstanding as of May 8, 2012."

  • Reply to

    Changes in short interest 2/29 to 3/15

    by kazua1observer Mar 30, 2012 1:43 PM
    lmtrack lmtrack Apr 6, 2012 9:02 AM Flag

    Should this be "FAQ" material?
    Or at least a floating link to the latest data?
    Like
    http://online.wsj.com/mdc/public/page/2_3062-shtnyse_R-listing.html

  • Reply to

    updated list of alternate IDs for davis

    by steve_j_sewell Mar 23, 2012 6:34 PM
    lmtrack lmtrack Mar 29, 2012 5:52 AM Flag

    Yes, I am really FFF, and StankeyBoy, and pws112, and all of the thousands and thousands of 'deep' caricatures, and RasZilla, and...

    In fact, there are really only two posters on this entire board: every thread that isn't started by you, or one of *your* sock-puppets, is mine.

    Yup.

    And we're all out to get you. All of us. Meaning just me.

  • "The Depository Trust & Clearing Corp. received approval from the Securities and Exchange Commission to operate a clearinghouse for trading of U.S. mortgage bonds, allowing it to replicate the services it offers for U.S. Treasuries and other government-related securities."

    http://bloom.bg/zfdjAa

  • Reply to

    RAS might have a GAAP loss

    by unotherdisgruntledlong Feb 3, 2012 4:43 PM
    lmtrack lmtrack Feb 3, 2012 5:15 PM Flag

    "You had your chance today.....why didn't you"

    Maybe because Foulger waited until after the close to admit that RAS would post a GAAP loss?

    Probably he wanted to ditch his shares first, before he slammed the stock on a public message board.

    He's counting on help from his followers to drive down the price so he can buy back in lower.

    Just the usual sheep shearing.

CXW
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