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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: Robert T. Quasius who wrote (1037)	4/3/2000 10:15:00 PM
From: KevRupert	Respond to of 4155

Robert, to put it in a nice way - there really isn't much more this company could do to disappoint the street. :) I'm not long the company, and am debating whether to buy any shares at rock bottom prices. Everyone's info is greatly appreciated, including Bosco's.

To: Robert T. Quasius who wrote (1037)	4/5/2000 10:41:00 AM
From: Puck	Respond to of 4155

My memory is a bit hazy about this, but I recall that insiders purchased 8 mil. shares in two 4 mil. installments in 1997 and 1998, irregardless of what they may have purchased in earlier periods. The stocks trading range during the time of the purchases was no lower than the upper thirties. I guess that their cost basis was in the forties. My guess is that insider losses at least equals $350 mil.. Conseco has guaranteed repayment of the loans made to purchase these shares to the bank lender, but has recourse to exact payment from the borrowers directly--the insiders--to protect itself. Hilbert is obviously wealthy enough to be able to absorb the loss, but I expect that everyone below him in the organizational hierarchy with significant exposure to Conseco stock in their company sponsored portfolios is facing the prospect of bankruptcy if the stock price isn't righted back to the thirties or forties eventually. Conseco touts that its employees own a collective 80 mil. shares. They've lost close to half a billion dollars in the last 20 months. What a tragedy and waste.