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Non-Tech : Conseco Insurance (CNO)
CNO 39.59-1.0%3:59 PM EST
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To: Softechie who wrote (4098)10/31/2001 2:46:47 PM
From: Kevin Podsiadlik  Read Replies (1) of 4155
 
Unfortunately nearly all of that value -- in both cases -- will be realized by the debt and bond holders rather than the stock holders.

CNC is having trouble even selling debt-free pieces of itself (see the Eavis article), to say nothing of the whole thing with the debt load intact.

I had honestly thought it was Jacobs' imposition of his will upon CNC by being such a large shareholder that was driving the company's arrogant stance, but even now, after Jacobs has fallen by the wayside, Wendt has taken up the mantelpiece of hubris, blustering about how great results were at the top of a news release that preannounced a shortfall from expectations.

I'd want nothing to do with a company that does that.
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