Issue Of CNC “ RUMORS “ .
The issue of CNC rumors was addressed by the Company here
siliconinvestor.com
Conseco Issues Statement
CARMEL, Ind., Aug 17, 2000 (BUSINESS WIRE) -- Conseco, Inc. (NYSE: CNC chart, msgs) today issued the following statement: "We believe that short sellers and other persons have been disseminating misleading information about Conseco's upcoming debt maturation. We refer investors to pages 7 and 46 of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2000, (filed last Monday) in which we indicated that:
-- Conseco is currently in discussions with its bank lenders with
respect to extension of its debt maturities. Although no
agreement has been reached, management is optimistic that
appropriate extensions can be negotiated.
-- Conseco has embarked on several courses of action with respect
to its Conseco Finance Corp. subsidiary (including asset
dispositions and restructuring of ongoing businesses), as well
as an asset disposition program with respect to certain
non-strategic assets at the parent company level. These
initiatives are designed to allow Conseco to reduce parent
company debt over time. Conseco believes that the sale of
non-strategic assets and the actions contemplated at Conseco
Finance will generate cash proceeds of approximately $2.0
billion over the next 12 to 15 months.
"Please refer to the 10-Q for additional information."
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Since then rumors have continued.
Some bad some good.
Here is a sample,
Bad Rumors
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messages.yahoo.com
Re: Let me see if I got this straight. No, you missed the point once again. I'm getting tired of repeating this, but here goes.
1. Neither you nor I know the facts.
2. Management does and they are legally obligated not to lie to us.
3. They issued a press release saying there were false rumors.
4. Either management choose to violate the law when they could have been silent or they are telling the truth. Is management lying?
I don think so.
Do you?
messages.yahoo.com
Re: False negative rumors that were true I'm sure CNC was
very messed up under Herbert, but that is old news and
already reflected in the price. Joe Frocks posting on the
board has zero impact on CNC. What's your point? Do you
think Management has violated the law and lied to us?
by: paulthebigfinn (47/M/Northern Virginia)
Good Rumors
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messages.yahoo.com
Wendt calls off sale of CF in order to exact a higher selling price from GE. Meanwhile GE is to sell GE Mortgage which is a dog and replace it with CF.
by: java_junkie_us
TA,Addressing the “ Rumour Mill “ @ FullTimeShortsEmploymentHQToSpreadRumoursOnCNC.com |
