Kevin: Detailed analysis of Marketplace article and your post: I am always willing to help.
First:
We have the " Groupie Phenomenon ":
Marketplace:
Haldeman said the mass hires were made possible in part
by the newly hired employees'
"strong sense of commitment to one another
and desire to continue to work together."
These folks obviously, " just want to hang out together ".
They liked the old singer, Stephen Hilbert, better than the new one,
Wendt; perhaps Hilbert paid them better; Steve
of course paid everybody better starting from Larry Coss
owner of Green Tree Financial. Gave him 7 bill dollars for it.
Some claim that Larry Coss was the consummate used car
salesman and that he made a classic hit with Steve.
Told him
" if you don't buy this car now it will be gone by
the weekend " and Steve bought it !!!
Gary Wendt on the other hand is a little bit tougher.
He is known as the Brutal Negotiator
Nobody claimed the 16 were " bad " .
Maybe they were just too expensive.
Second:
Marketplace's analysis of Wendt wanting to sell
Conseco Financial ( Green Tree ) is off by a mile:
Conseco has ..financial problems.. since its $6 billion
purchase of Green Tree Financial two years ago.
The company recently announced plans to try to sell the unit.
Here is what they actually said:
Conseco may not sell former Green Tree
startribune.com
Third:
Marketplace has it wrong again saying:
" Officials at Conseco were unavailable to comment. "
The truth is they did release a comment:
thestreet.com
Conseco's press office issued this statement:
"We are sorry to lose any of our people, but turnover is a
fact of life in the investment management business.
Given Conseco Capital Management's outstanding track
record, it's not surprising that our people are recruited
by other investment management firms."
Fourth:
Cramer is the Editor and CEO ( I think )
of StreetCom.
I am sure he reads and approves what others write.
If he doesn't then may be he should, don't you think so?
cheerio
back later
TA
Message #1918 from Kevin Podsiadlik at Jul 21, 2000 10:47 PM
OK, sure, they left as a group and got new positions as a group because they're all bad at what they do, whatever you say. Heck, those guys are probably so bad their presence alone probably makes Lincoln a slam-dunk short. That's of course why they (LNC/Delaware) announced the hiring and Conseco had no comment on the matter. That reference to "widely publicized issues" must be a red herring, and that bit about CNC planning on trying to sell the asset management unit must have been something those hacks at CBS MarketWatch must have just made up. ( cbs.marketwatch.com ) Whatever you need to believe to sleep easy this weekend!
As for Cramer, incredible at it may seem, his name doesn't appear anywhere in that TSCM article. Go fig. Oh wait, I know, that must have been him writing under an assumed name. In fact, every article on TSCM is really written by Cramer, because none of those other people actually exist! That's gotta be it, right?
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