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  "documentTitle": "Corrections Corporation of America (CXW)",
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  "authorName": "William Ackman",
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      "text": "New Prison Realty was not a Success",
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      "text": "New Prison Realty saddled itself with debt to fund new prison builds\nBefore the new prisons had been completed and could generate revenue, OpCo’s operating fundamentals began to decline and occupancy fell\nOpCo struggled to maintain profitability and rental payments to New Prison Realty soon had to be deferred\nAs a result, New Prison Realty’s stock price declined precipitously, limiting its ability to raise liquidity. This was further exacerbated by a shareholder lawsuit stemming from the fall in the stock price\nBy the Summer of 2000, CXW was on the verge of default and had to raise dilutive capital to restructure and avoid bankruptcy",
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