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Non-Tech : Conseco Insurance (CNO)
CNO 43.18+0.2%Dec 18 3:59 PM EST

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To: Tunica Albuginea who wrote (2624)8/25/2000 7:50:25 PM
From: Tunica Albuginea  Read Replies (1) of 4155
 
Irwin Jacobs on CNBC @ 19:20


He talked about his company Genmar which has developed a new molding process for boats I believe, and which occupies most of his time.
Interviewer Ron Insanna asked him about CNC.
Q: What is this issue of trying to create a short squeeze?
A:Well I didn’t think that it would happen immediately when I
put the ads in the paper. I just wanted to sensitize people
in what was going on.
Q:Well stock is trading at 7.37 , only 37 cents above the highest price you paid.
Do you think it will go back up.
Q:Do you think it’s working?
A: He chuckled:” People said: “ you can get as many shares
To short you want “.” Well” said Jacobs,” I can tell you
That as of today, you couldn’t find more than 1 million shares
To short in all of Wall Street.
Yes I think it will go up.In fact i bought more.
Q:It’s just that CNC is in a poor financial situation and some
people are concerned that CNC will not be able to make it’s
payment before the Sept.22 dealine.
A: Jacobs chuckled again and said:
“ people, people. Who are these people? What do they know?
When you put 100 million dollars of your own money in
you better believe that one makes sure what they are investing.
CONSECO I think will turn out to be one of the best investments
I’ve ever made.
I will do VERY well and the shorts will do very poorly :
he said and chuckled.


TA
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