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

To: Tunica Albuginea who wrote (1600)	7/5/2000 11:52:34 PM
From: Tunica Albuginea	Read Replies (2) \| Respond to of 4155

Investigation:( by me ): " Why did Wendt leave GE Capital? ". " What makes Wendt tick ? ". I am interested in getting to the bottom of Gary Wendt's psyche. If you know the man you'll know why he made GE Capital so successful. You'll then have a better chance to see how far along he can pull CONSECO. I want to start in a round about way: Why did Wendt quit? v. was fired? from GE? . . . From The On-Line Courier Journal of Greater Kentucky Louisville: . . vh80015.vh8.infi.net . " Wendt, 56, made GE Capital the company’s largest and most profitable subsidiary. He quit without explanation. "Recently, Wendt, who is known for being abrasive and for being a hard-nosed negotiator, had clashed with Welch about proposed cuts at GE Capital. Wendt had made his difficulties with Welch clear. In a pretrial deposition for his highly publicized 1997 divorce, Wendt said he had seriously considered quitting. ‘‘There was going to come a time when I couldn’t stand it anymore and I just had to leave,’’ he said. Of Welch, he said simply, ‘‘He’s very difficult on me, I find.’’ ---------------------------------- Investigation to continue, TA . .. ----------------------------------- . . . The rest of the article above: Executive’s exit clouds succession picture at GE Associated Press December 9, 1998 NEW YORK — Time may be running short for GE. The man once considered a possible heir apparent to General Electric Co.’s legendary chairman John F. Welch resigned abruptly yesterday, increasing the uncertainty over who will take over the leadership of one of America’s most successful companies. With just two years left until Welch retires, GE is giving no indication of who might replace its chairman. Welch will leave behind a legacy as the man who transformed a company best known for making light bulbs and appliances into a powerful manufacturing empire that includes NBC, TV’s most profitable broadcaster. What did become clear yesterday was that Gary Wendt, head of GE’s financial services division, GE Capital, wouldn’t succeed Welch. Wendt, 56, made GE Capital the company’s largest and most profitable subsidiary. He quit without explanation. Recently, Wendt, who is known for being abrasive and for being a hard-nosed negotiator, had clashed with Welch about proposed cuts at GE Capital. Wendt had made his difficulties with Welch clear. In a pretrial deposition for his highly publicized 1997 divorce, Wendt said he had seriously considered quitting. ‘‘There was going to come a time when I couldn’t stand it anymore and I just had to leave,’’ he said. Of Welch, he said simply, ‘‘He’s very difficult on me, I find.’’ Wendt’s divorce drew national attention when his wife of 31 years, Lorna Jorgenson, said she was entitled to half their assets as compensation for duties as a corporate wife. Last year a judge ordered Wendt to pay Jorgenson $20 million. Wendt has since remarried. In an interview yesterday with CNBC, the business TV network owned by GE, Welch praised Wendt’s work in building the success of GE Capital, but did not describe the circumstances of his resignation. The new head of GE Capital is Dennis Dammerman, chief financial officer at the parent company. Dammerman also will become vice chairman of GE’s board and also work closely with Welch as one of the four men in the corporate executive office. But it’s unclear if he could be a successor. Company spokesman Bruce Bunch would not say which executives were on the short list to replace Welch, except to say that the person would be chosen from within the company.