CCA being added to REIT index

The equity index builders at MSCI have made Corrections Corp. of America the 119th member of their US REIT Index (Ticker: RMZ). The move is a little unusual because Nashville-based CCA isn't actually a REIT yet and hasn't yet paid out its accumulated earnings and profits dividend, which is expected to top $650 million.

On a very unrelated note, the company has decided not to bid on a large potential job in Brazil because the margins would be too low.