Conseco Insurance (CNO) Message Board

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Non-Tech : Conseco Insurance (CNO)

CNO 42.50

+0.4%

Feb 4 3:59 PM EST

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To: M.A. Miller who wrote (356)	10/15/1997 9:28:00 AM
From: John Thomas	of 4155

Mark Last month the idea of Conseco selling out was not a choice. Over the last few weeks I have been looking at the numbers another way. They pay the CEO and the Exec VP's about 50MM a year, their private air force (I belive they are up to 3 jets, with another one ordered, and 2 chopters) cost them another 30MM - 50MM a year. They have turned into the fat cat that they were buying in the past. Also when you look at the insider buying, some of the outside directors, who are close personal friends of Hilbert, could never pay the interest, leave alone the prin. on those loans they took out to buy that amount of stock. They never sell. The only way to unwind this is to sell the company? With cutting the 100MM a year you can justify 65-70 a share. Who would buy? GE? Morgan Stanley/Dean Witter? Travelers? With 33 billion of assests under management, the fee income is what these type of companies are looking for. Just a thought! John Thomas

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