In fact CCA had converted to a REIT previously, in 1997, with disastrous results.
FORBES: Why Would A Prison Corporation Restructure As A Real Estate Company?
CCA, because many people still find the very idea of a privately run prison faintly immoral.
In 1990 he was a student in Glasgow, now he's director of the CCA in the city.
Although CCA and GEO operate prisons as their primary form of business, the prisons themselves constitute real estate.
FORBES: Why Would A Prison Corporation Restructure As A Real Estate Company?
He said that the only foreseeable threat to CCA's business is a steep decline in crime rates, a low-probability event.
Companies such as the Geo Group and CCA do not earn their money by providing goods or services to customers.
He's hardly alone in seeing unrealized value in CCA. Activist investor William Ackman's Pershing Square Capital Management is its largest shareholder with 9.4%.
Joe Catapano, a project manager with CCA in the U.S., said the expertise and money that Chinese companies can provide is important to rebuild and renovate.
Recently, the BOP entered into a four-year management agreement with CCA on the McRae (Georgia) Correctional Center which will increase the number of inmates that facility holds from 1, 524 to 2, 275.
The Court of Appeals affirmed the ruling of the lower court, holding that CCA must produce documents that it had refused to disclose, as well as pay attorney fees and costs in the case.
While both CCA and GEO have positioned themselves for conversion to REIT structures, neither company has received approval from the IRS despite their requests for a private letter ruling (PLR) regarding their REIT intentions.
FORBES: Why Would A Prison Corporation Restructure As A Real Estate Company?
But in the context of British art, it's interesting to be able to compare and contrast, with a spread of work over three venues - the CCA, Tramway and the Gallery of Modern Art.
Compared with Realty Income's tenant base of convenience stores and casual restaurants, which is not disclosed to shareholders, Ackman's bet on CCA relies on pretty reliable tenants: criminals whose rent is paid by the U.S. government.
Wells Fargo owns 4 million shares in the Geo Group, the second largest private prison corporation in America, and 50, 000 shares in the Corrections Corporation of America (CCA), the largest private prison corporation in the country.
Yuan Ning, president for China Construction America (CCA) told China Daily on Tuesday that the perfect way for China and the U.S. to collaborate on much-needed infrastructure projects is through Public-Private Partnership, government funded projects operated by private partners.
As this issue of PLN goes to press, CCA has not indicated whether it will file an objection to the resolution with the Securities and Exchange Commission (SEC), as the company did in response to a shareholder resolution filed by Friedmann in 2011 that asked CCA to report on its efforts to reduce prisoner rape and sexual assaults in its for-profit facilities.
FORBES: Why Would A Prison Corporation Restructure As A Real Estate Company?
应用推荐