CCA is coming off a 2000 that saw a restructuring to reverse an earlier conversion into a real estate investment trust that proved ill-timed. The company earlier had said it was considering options such as selling assets and exiting unprofitable contracts. We do have many opportunities and challenges ahead of us based on the structure of the company and things in place when this management took over, Ferguson said during the call. But look at the problems the company was facing in the summer of 2000, we ve made some good progress. Ferguson said the facilities CCA is negotiating to sell include both owned and managed locations and some that the company owns but does not manage.
None is in Tennessee.
He declined to offer a timetable on any sale, adding that, though some deals may be imminent, prospective buyers for buildings such as prisons often are limited. I think that s what they re trying to do. Associated Press content is Copyrighted by The Associated Press.