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

To: Rajiv who wrote (2348)	8/12/2000 4:53:35 PM
From: Tunica Albuginea	Respond to of 4155

I read that Rajiv. That's what would have happened to CNC had not the Board of Directors taken high-flyer Hilbert and Co. out and replaced him with Wendt. Different scenario altogether. In Reliance Group we had Saul and ALL his family ( brothers sisters all ), sucking the blood out of the company, ( dividends, airplanes expensive homes, the works ). The first thing Wendt did when walking in CNC was to get rid of Hilbert's leopard's chair, TA

To: Rajiv who wrote (2348)	8/12/2000 9:15:43 PM
From: Sr K	Respond to of 4155

Rajiv, thanks for that article. "Forbes" brought the w/c fiasco to my attention awhile ago, didn't pull punches, and even named Berkshire Hathaway as among those affected. The Reliance 9s of 2000 look interesting (they've bounced about 2 points from their low) but I haven't nibbled yet. What was left out of that story was Leasco which was Steinberg's highflying IPO and company which allowed him to take over Reliance and diversify out of the mainframe leasing business. The attempt take over Chemical Bank was the first time he was thwarted. Later, the renamed company, Reliance, went private, had an IPO, and paid a dividend it didn't earn, and ridiculous salaries (I recall $7 m a year) to SS. Q: What company today is most like Leasco in 1968? Many dot-com's come to mind.