Wednesday, February 24, 2010

Fantastic News

Best news I’ve heard all year: CCA is struggling, big time. They’ve lost contracts for 8,000 beds in the past 16 months and could lose another 4,000 by the end of the year. They’re operating with 14% of their beds vacant, and their stock has dropped 15% since the beginning of the year. And if you saw my post earlier ("Insider Trading?") about the chairman and executive VP selling their stock, you’d have seen that it’s been falling for some time now. Another tidbit from this that I had seen previously but forgot to mention; George Soros, the influential billionaire investor, also sold all his shares of CCA stock recently. The good news just keeps on comin’!

-This was announced in a press release that I can't find available online yet. When a version gets posted, I'll link to it

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