Conseco Insurance (CNO) Message Board

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Non-Tech : Conseco Insurance (CNO)

CNO 40.33

-2.3%

Nov 5 3:59 PM EST

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To: Cogito who wrote (3429)	10/6/2000 2:49:32 PM
From: Kevin Podsiadlik	Read Replies (1) of 4155

Perhaps you'd like to comment on Jacob's statement that CNC is worth over 18 bucks a share based on 5.7b in assets? I can answer that. As of 6/30 shareholder equity (the figure Jacobs is using, not "assets") has declined to 4.9B. And of that 4.9B, almost 3.9B is intangible "goodwill". So tangible book value is more like 1.0B, or about $3/share, a far cry from Jacobs' $18. As an aside I do have to agree with the basic assessment that Jacobs' campaign seems to be playing directly to those of us on these message boards. There are little language subtleties, a tendency to play a little loose with numbers, but above all a sense of an "us vs. them" mentality he keeps pushing upon the reader.

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