8/9/00 - REVIEW and MORNING REPORT on CNC
Editorial.
Big day yesterday for Shorty Inc : pinky with his
YHOO and SI intellectually challenged gang.
Big time? Moody and S & P downgrades
you’d have thought they’d won the lotto.
Nope: CNC down one whole eighth and this on a lower volume
3.4 M than the usual 4+M.
So what got the shorts excited?
.
.
Maybe this part of MOODY’s downgrade:
quote.bloomberg.com
" While Moody's said it expects the company
and its bank lenders to reach a satisfactory agreement,
it said the details of such an agreement and the effects on
Conseco's operations remain uncertain "
.
.
Great thinking on MOODY’s part or are they just in a CYA mode
( cover you’re a*s ) mode to avoid potential litigation? Who knows…
So then CNC longs in desperation to find what excited pinky &co
Turn to The Ominous S & P report
quote.bloomberg.com
Woooow, this MUST be the exciting part:
.
" Although Standard & Poor's believes Conseco will be able to renegotiate the bank line maturing in September, enough uncertainty remains to keep the ratings on CreditWatch, where they will likely remain at least until the Sept. 22 maturity is resolved. ………..Standard & Poor's believes these efforts will ultimately provide additional liquidity to the holding company, ….
Standard & Poor's believes Conseco's current capital structure and ongoing operating earnings are supportive of the current debt ratings, and reflect Standard & Poor's expectation that the bank line maturing in September will be successfully renegotiated.
Standard & Poor's calculates the company's ratio of debt plus preferred securities to capital as of June 30, 2000 to be 55%, and believes ongoing operating earnings should provide fixed charge coverage in excess of 2 times……...and Standard & Poor's expects the bank line renegotiation to result in a capital structure no weaker than what currently exists.
Standard & Poor's expects Conseco's insurance subsidiaries to remain appropriately capitalized,
and their earnings performance has stabilized.
Despite the negative publicity surrounding Conseco during the second quarter of this
year, new sales for the quarter remained in line with expectations for the ratings,
Standard & Poor's said. -- CreditWire. "
.
.
So there it is CNC longs. It’s up to you now to find out exactly what it was
that tickled pink ( sorry pinky , vbg > ) Shorty Inc. but whatever it was
it has to be in one of these two reports.
.
.------------------------
Finally, an interesting post from RB Boards:
ragingbull.altavista.com
Post 4514 By: jegbrown $$$$ Tuesday, 8 Aug 2000 at 8:14 PM
The rating change to negative by S & P is a testament to their stupidity. They stress that the company may not have enough funds to retire all the debt due on September 22. They stated that assets to be sold to cover the debt may not be sold in time for the Sept. deadline. Since this is mostly all bank debt owed by Conseco, there is not a bank around that would not give the company time to complete the pending sales. This would easily be the best alternative for the bank consortium.
This is an illustration of S & P's infantilism! I have been burned in the past from following S & P's bad advice and inaccurate analysis.
So there it is folks…..
Much ado about nothing,
Simple Short minds are easily pleased,
early Japanese wise saying….
TA@HappyAtCNCBalanceSheethttp://www.conseco.com/shareholders/balancesheet.htmWith WendtAtTheHelm.com
.
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MAJOR RECENT ARTICLES ON CNC
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Recent news:
Aug. 4, 2000: Conseco prices senior classes of $1.2 bln ABS deal favorably
ragingbull.altavista.com
Aug. 4, 2000:Conseco Capital Management Names New Co-Portfolio Managers for Conseco High Yield Fund
ragingbull.altavista.com
Aug. 4, 2000: Dow Jones Newswires
Conseco Promotes From Within After High-Yield Exodus
ragingbull.altavista.com
7/27/00 BUSINESS WIRE:
CONSECO Announces Restructuring Program ,Parts I, II, III & IV , from RB
ragingbull.altavista.com
DOW JONES NEWSWIRE 7/27/00:COMPLETE EPS REPORT
1: dowjones.work.com
2: dowjones.work.com
3: dowjones.work.com
7/24/00 BLOOMBERG: WENDT GETS RID OF LEOPARD CHAIR AND
.......PROTECTS SHAREHOLDER EQUITY:
quote.bloomberg.com
. 7/19/2000 WENDT HIRES Ex-GE CRISIS TEAM
biz.yahoo.com
7/12/2000 20 MILLION PAID TO HIRE WENDT
Wendt gets 45 mill less than if he had stayed at the Golf Course and got paid
by GE to non - compete and do nothing. GE gets 10 mill CNC shares,
will make another killing.
messages.yahoo.com
6/30/2000 WENDT BACK FROM HONEYMOON
messages.yahoo.com
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
VARIOUS OTHER ISSUES IN CNC:
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ISSUE OF PRODUCING A GIANT SHORT SQUEEZE:
First an introductory song about short covering:
amazon.com
messages.yahoo.com
Message 14172703
CNC in WORTH Magazine via Maverick Capital's Hedge Fund Manager - Lee Ainslie. Ainslie is a noted short seller who has averaged 24.8% after fees with $5B under management. He has covered his CNC position: “ I am not going to go
Against somebody of Wendt’s reputation “.
7/27/00 IRWIN JACOBS WANTS TO PRODUCE A SHORT SQUEEZE.
……….He puts this Ad in WallStJ. then other papers
messages.yahoo.com
streetmonkey.com
. 7/29/00 Star Tribune:CNC earnings report and Irwin Jacobs Short Squeeze bid
ragingbull.altavista.com
7/30/00 Indianapolis Star :Conseco investor's ad aims to help stock
. starnews.com
7/31/00 J.J. CRAMER FROM TheStreetCom editorializes: “ A great Idea !!!”
ragingbull.altavista.com
8-1-00 Star Tribune: Neal St. Anthony/On Business:
Jacobs roars, short sellers yawn
startribune.com
Meanwhile, CURRENT SHORT INTEREST as of 7/22/2000 is 64,000,000 shares
messages.yahoo.com
messages.yahoo.com
Shorting Rules
ragingbull.altavista.com
BOOKS ON SHORTING
(If any one wants to ahead and short some more and make
Mr.Wendt’s Day ).
capatcolumbia.com
==========================================================
7/28/00 :ISSUE of FABER CNBC REPORT & CONTROVERSY
( ie that Wendt is going to dilute shareholder equity ).
ragingbull.altavista.com
7/29/00 reply by ta to FABER Report: CNBC FABER is either LYING or MISINFORMED
messages.yahoo.com
7/24/00 Cnet : ''We're not going to be diluting shareholder value at ridiculously low prices,'' Wndt said.
cnetinvestor.com
messages.yahoo.com
7/31/00 FABER CORRECTS HIMSELF: “ CNC WILL N O T ISSUE ANY N E W EQUITY “.
boards.cnbc.com
Thank you Mr. FABER.
===============================================================
ISSUE OF BANKRUPTCY 7/22/2000
Part I
messages.yahoo.com.
Part II
messages.yahoo.com.
messages.yahoo.com.
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. ISSUE OF MR.T.LEE'S PREFERRED STOCK
messages.yahoo.com
messages.yahoo.com
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BROKERS OPINION
8/5/00 S & P raises Outlook to highest, 5 ( on scale 1 to 5 )
messages.yahoo.com
7/30/00 STANDARD AND POOR UPGRADES CNC TO 4 STARS FROM 3 STARS
Message 14133330
Merrill Lynch
7/31/00 messages.yahoo.com
.7/26/00 LEHMAN MAINTAINS OUTPERORM II ON CNC
Message 14109720
RATING AGENCIES , MOODY’S, S & P etc
S & P
===========
www2.marketwatch.com
ragingbull.altavista.com
S&P cuts Conseco Fin status
aug. 8, 2000--3:18 pm - By Chris Kraeuter
Conseco Finance's credit rating status was revised to "negative" from "developing" by Standard & Poor's. According to a S&P statement, S&P "believes Conseco Finance's creditworthiness is severely limited by a lack of funding flexibility and aggressive leverage." Also, S&P cited its belief that the finance unit will not be sold to a "higher-rated" entity in the forseeable future. Conseco Finance's ratings were placed on "developing" on March 31. Conseco's (CNC: news, msgs) ratings status was placed on "negative" on April 7. Currently, Conseco shares are down 1/16 to 7 7/8 on volume of 2.8 million shares.
MOODY’S
========
quote.bloomberg.com
. While Moody's said it expects the company and its bank lenders to reach a satisfactory agreement, it said the details of such an agreement and the effects on Conseco's operations remain uncertain.
MORNINGSTAR/FINANCIAL
=============================
messages.yahoo.com
Morningstar grades CNC a B-, for financial health, just slightly below average for insurance industry and average for universe of stocks.
DALBAR Insurance Rating Web site
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Part 1
messages.yahoo.com
Part 2
messages.yahoo.com
OVERVIEW of CONSECO INSURANCE RATINGS
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conseco.com
LAWSUITS ON COMPANY BASHERS
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TA’s EXCELLENT , I say, EXCELLENT, REVIEW OF INTERNET LAWSUITS
Message 14157877
Friday August 4, H-Quotient, Inc., Files Suit Against Alleged Stock Manipulators
Message 14173025
The most recent Lawsuit won by Biometrix
Message 14158321
And just before that New subpoenas on the way
biz.yahoo.com
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CNC CHART & Technical Analysis
STOCKCHARTS
stockcharts.com[L,A]DCCLYYMY[DC][PB10!B20!B30!B50!F][VC60][IUH14,3!LI14,3!LC20!LK14!LA12,26,9]
SI CHART
siliconinvestor.com
Money Flow Stats by Softechie
Aug 8, 3000 : Message 14184790
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NEGATIVE ARTICLES ON CNC
7/27/00 TheStreetCom: Herb's Hotline: Oversight by Conseco?
thestreet.com
7/10/00 TheStreetCom: Conseco Sets Rich Pay Package for New CEO, By Peter Eavis Message 14023449
7/11/00 Herb's Hotline: Will These Conseco Capers Never Cease?
By Herb Greenberg thestreet.com
&/14/00 Bloomberg :Conseco Outdoes Itself in Piling Gifts on Wendt:
by Graef Crystal
ragingbull.altavista.com
7/31/00 Warburg initiates coverage with hold;
messages.yahoo.com
7/31/00WSJ Colin Devine from Smith Barney is worried about CNC
messages.yahoo.com
messages.yahoo.com
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MAGAZINE ARTICLES ON GARY WENDT
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Aug. 7, 2000 :BUSINESS WEEK
ragingbull.altavista.com
My comments on Business Week Article: Music…Music…Music..
Message 14127197
1997 FORBES/GECAPITAL: " BLOWING BUBBLES "
forbes.com
.
PREVIOUS REVIEW POSTS
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.
July 5, 2000: REVIEW OF GARY WELCH LIFE AND ARTICLES
Message 13993832
July 10, 2000: W S J : GE Capital’s Wendt: " A BRUTAL NEGOTIATOR "
Message 14023303
MISCELLANEOUS
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1 ] WHY I INVEST IN CONSECO:
~~~~~~~~~~~~~~~~~~~~~~~~~
ragingbull.altavista.com
2 ].What is CNC really worth?
View from a competitor:
starnews.com
A CNC competitor!! ,Mr.Nauert, CEO of Ceres says thatIf sold to the right buyers, Nauert said, Conseco's insurance operations could bring as much as $7 billion. That's the equivalent of $21 a share -- nearly three times Conseco's current stock price.
This is from a competitor, and it is ONLY for the insurance part of CNC!
A note from RB about who Nauert is:
ragingbull.altavista.com
3 ] DALBAR Insurance rankings Website
host.cnbc.com
8/8/00YAHOO,PartI: messages.yahoo.com
Part II :
messages.yahoo.com
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WENDT'S BUSINESS CARD
~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Here's Wendt's business card when he goes to the Bank to ask for money:
I am responsible for 38% of GE's net income:
GE’s profit has come increasingly from Financial Services
That’s GECapital, the company I run, at GE:
businessweek.com
And here how I compare with the giants:
Revenues
quicken.com
Cash Flow
quicken.com
Net Income
quicken.com
GARY WENDT
Looks pretty good ,
Eeh? No?
vbg
TA |
