Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Tunica Albuginea who wrote (2402)	8/15/2000 12:10:25 PM
From: Agenda	Respond to of 4155

A little of you goes a long way.

To: Tunica Albuginea who wrote (2402)	8/15/2000 9:36:49 PM
From: Mr. Pink	Read Replies (1) \| Respond to of 4155

CNC bondholders calling for restructuring!!! Won't be good for the stock, homeboy. Mr. P$nk Carmel, Indiana, Aug. 15 (Bloomberg) -- Conseco Inc. said in a filing it expects to raise $2 billion over the next 12 to 15 months from selling assets and overhauling its consumer-lending unit as the insurer moves to shore up its finances. Conseco also said it paid $117.1 million in advisory fees during the second quarter to Lehman Brothers Holdings Inc. and other investment banks. Analysts have said Conseco needs to raise the $2 billion to regain its investment-grade credit rating. Conseco has debt of $1.4 billion due by Sept. 30, and said in a Securities and Exchange Commission filing that the extension of its bank line of credit will be required because of the time needed to sell the assets and complete the restructuring. ``As a bondholder I'm shocked and outraged at the magnitude of the fees paid to Lehman Brothers and the other investment banks,'' said Daniel Loeb, a money manager for Third Point Management Co. LLC, which holds Conseco debt. ``Conseco needs to take immediate action to restore its balance sheet before the underlying businesses deteriorate any further,'' he said. ``The only way is to enter a full-fledged restructuring agreement. Bank of America and Conseco's bondholders should be willing to reduce Conseco's debt in exchange for a meaningful equity stake.'' James Rosensteele, a Conseco spokesman, said the company had no plans to issue new equity. He said the company had no comment on the timing or amount of asset sales. The Carmel, Indiana insurer previously said it would sell its equity stakes in Tritel Inc. valued at about $600 million and Argosy Gaming Co. valued at about $200 million. The insurer also said it would eliminate 2,000 jobs at Conseco Finance and sell or close five non-strategic divisions of the unit to save about $150 million. Cash Restrictions The company said its ability to use newly raised cash is substantially limited by restrictions in agreements with Lehman. Conseco said it's in discussions with Lehman to ease the restrictions. Conseco said the $117.1 million in fees included $20 million paid to Lehman for assembling a group of investors to buy Conseco Finance; $24 million in fees paid to other investment banks related to the scrapped sale of Conseco Finance; $48.1 million to issue warrants to Lehman for a 5 percent stake in Conseco Finance; and $25 million in fees paid to Lehman to purchase $1.3 billion of whole loans from Conseco Finance. Conseco said it recognized a net loss of $58.5 million from the sale of its credit card and subprime auto financing and servicing companies. The company also said it recognized a $21 million expense during the second quarter related to warrants issued to GE Capital Corp. to release Gary C. Wendt from his non-compete agreement. Wendt was named Conseco's chairman and chief executive on June 29. Conseco shares, down 58 percent this year, fell 3/16 to 7 7/16 in New York trading. Aug/15/2000 16:25 ET For more stories from Bloomberg News, click here. (C) Copyright 2000 Bloomberg L.P.

To: Tunica Albuginea who wrote (2402)	8/16/2000 2:11:17 AM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 4155

Aug. 16, 2000, CNC Morning NEWS and REVIEW Again I am going to make liberal use of well thought posts At YAHOO CNC thread: messages.yahoo.com The shorts are out of aces. I have to believe that the shorts have now gotten everything they hoped for, except a drop in price. The latest 10-Q finally is showing a clear picture of CNC, and the stock just isn't dropping. I think it has to be that there just aren't many more shares to sell. I'm sure the shorts hoped that this clear picture of the Conseco status would send the stock price realing. But it just hasn't happened, and they're short 25% of the shares of the stock. They'll have to start covering big-time soon. The bottom line for the next 12-18 months is this: Debt of $1.4 billion versus assets of $2 billion. Not a dire situation. The only question is whether they can roll the debt for another 12 months or so. I have to think Gary Wendt had that problem basically solved before he came on board. Also, none of the creditors involved would have anything to gain from the collapse of Conseco. Shorts are out of aces, and I believe they're quickly running out of luck . Gary promised some answers before the end of this month. The only question remaining is whether he's going to deliver on his promise. I tend to think he will. by: ReSwat (33/M/St. Louis) messages.yahoo.com ANOTHER HINT Don't worry about the 10q and what it said. They have to say certain things which they did. If you focus on it you miss the big picture. The 10q is a snapshot of what is occurring right then-not now. Wendt told you not to worry about the debt. Hint-would he say something he knew was wrong? Wendt is doing his thing----watch for the announcements. You are seeing the organization get set. It takes some time. But read slowly and listen. Another HINT-nobody on this Board knows what is going on behind the scenes --well----the loud ones do not. People are working very hard and quickly--and nobody can say they know---not Mr. Pinky-- Another HINT-more to come..... by: infewords --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- messages.yahoo.com Put the following in order of occurence Sale of Tritel Sale of Argosy Sale of other targeted assets Bank loan restructuring Lehman loan restructuring Reinsurance deal Short covering Massive short covering by: LAZ_BROKER (M/Denver CO) We had a great article by J.Dorfman where he thinks CNC is A great buy!!! ====================================================================== 8/15/00 Bloomberg: Novell, Conseco Are Among the True Stock Bargains:J.Dorfman cnetinvestor.com Novell, Conseco Are Among the True Stock Bargains: John Dorfman 8/15/00 10:44:00 AM Source: Bloomberg News (Commentary. John Dorfman, president of Dorfman Investments in Boston, is a columnist for Bloomberg News. The opinions expressed are his own. His firm or its clients may own or trade investments discussed in this column.) Boston, Aug. 15 (Bloomberg) -- To invest successfully, one trap you have to avoid is what I call the ''oriental rug fallacy.'' Ads for oriental rugs perennially stress the percentage markdown from the original list price. This one is 50 percent off, that one is 70 percent off, yet another is 80 percent off. What bargains! What nonsense. The value of a rug isn't determined by the percentage markdown from an original price that may have been ridiculously puffed up. It is determined by the quality of the rug, and by what it costs compared with other rugs of similar quality. Same thing in the stock market. The mere fact that a stock has been ''marked down'' from $100 to $50 a share doesn't make it a bargain. What matters is whether the stock presents a good value based on current and estimated earnings, book value (corporate net worth) and the like. Here are four stocks that I think represent genuine bargains right now: BMC Software Inc., Computer Associates Inc., Novell Inc. and Conseco Inc. I selected them by using Bloomberg stock screening software to comb through some of this year's biggest losers -- the stocks that have been ''marked down'' 50 percent or more. Among the 1,467 U.S. stocks with a market value of $1 billion or more, there were 76 stocks that were down that much. Stock Screens I don't believe there are anywhere near 76 genuine bargains in this rug store, however. After I imposed a series of not-very- demanding statistical tests (price-earnings ratio less than 20, price-book ratio of 3 or less, price-sales ratio of 3 or less, and long-term debt less than stockholders' equity), fewer than a dozen candidates remained. I sifted them down to the following four: Conseco, based in Carmel, Indiana, may be the most speculative of the lot. Under Stephen C. Hilbert, who was CEO from 1988 until April, Conseco acquired a long string of insurance companies (many of them mediocre), using its high- flying stock as currency. It then centralized many of the companies' operations and cut costs to improve profits. New CEO Conseco's accounting was widely viewed as aggressive, and Hilbert's compensation (he received more than $13 million a year for three years running) as excessive. The company also took on a fair amount of debt, which recently amounted to 174 percent of stockholders' equity. Now, thanks to one last acquisition that blew up in its face -- Green Tree Finance Corp., for which the company paid $6 billion -- Hilbert is out and a new management team is in. Gary Wendt, a respected finance man from General Electric Co., is the new chief executive. I think if anyone can turn Conseco around, Wendt is the guy. I first wrote about Conseco in this column in November 1997, when the stock was at $46. ''Personally, I've never liked Conseco,'' I wrote at the time. '' It has always seemed to me that too much of its earnings have come from financial engineering, that the companies it keeps acquiring are often of dubious quality, and that chief executive Stephen Hilbert's pay is excessive.'' Today, you can pick up shares of Conseco for $7.50 apiece, down 84 percent from when I made those harsh remarks 33 months ago. But if I hated the stock at $46, I like it at prices under $8. (John Dorfman can be reached at jdorfman@bloomberg.net or Dorfman Investments, 101 Federal Street, Suite 1900, Boston, Massachusetts 02110.) Let us not forget that Lehman has an OUTPERFORM BUY II on CNC ============================================================== 7/26/00 Message 14109720 And that there is NO intention by Wendt to dilute shareholder equity: ============================================================= 7/24/00 Cnet : ''We're not going to be diluting shareholder value at ridiculously low prices,'' Wendt said. cnetinvestor.com messages.yahoo.com Aug. 15, 2000, Bloomberg: James Rosensteele, a Conseco spokesman, said the company had no plans to issue new equity. cnetinvestor.com A NOTE SmartMoney LIED and/or was MISINFORMED When it said Wendt “ didn’t give up anything to come to CNC “ messages.yahoo.com ===================================================== Ultimately the fate of Wendt and thus indirectly CNC rests on two things : Integrity and reliablilty . And I believe Wendt has both, TA ************************************************************ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ ********************************************************** CNC Balance Sheet conseco.com CNCRestructuringProgram.com quicken.com ********************************************************** CNC CHART & Technical Analysis CHART 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 ********************************************************************* MAJOR RECENT ARTICLES ON CNC ==================================== moneynet.com@NEWS-P2&Index=1&HeadlineURL=../News/NewsHeadlines.asp&DISABLE_FORM=&NAVSVC=News\Company Aug 9 (Reuters) - Conseco Finance, fixed final terms for its 2000-4 series $1.2 billion nine-tranche asset-backed bond launched on August 4. Rating Aaa/AAA/AAA ragingbull.altavista.com Aug. 9,: A consortium of eight insurance companies has completed a $40.5 million investment in affordable-housing projects across the state, the first test of an effort to get insurers to voluntarily invest in community development. ragingbull.altavista.com 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 7/27/00 BUSINESS WIRE: CONSECO Announces Restructuring Program ,Parts I, II, III & IV , from RB ragingbull.altavista.com quicken.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 paidby 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 CNC INVESTORS ************************* GABELLI FUND UP 23% has 9% of position in CNC: messages.yahoo.com PROFIT VALUE FUND: 4 star Morningstar rating. In last 3 months has added new position in Conseco, to make in 8th largest position; position similar in size to its holding in Berkshire. messages.yahoo.com ********************************************************** BROKERS’ and ANALYSTS ‘ OPINION 8/15/00 Bloomberg: Novell, Conseco Are Among the True Stock Bargains:J.Dorfman cnetinvestor.com Message 14220318 8/10/2000Gary Smith from REALMONEY.COM at The StreetCom puts a buy on CNC with a stop at 7. Anyway, here are a few charts to look at as you sip your morning Cafe Yukon: thestreet.com ragingbull.altavista.com thestreet.com 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 7/31/00 Merrill Lynch messages.yahoo.com .7/26/00 LEHMAN MAINTAINS OUTPERORM II ON CNC Message 14109720 ******************************************************* OVERVIEW of CONSECO INSURANCE RATINGS ========================================= conseco.com RATING AGENCIES , MOODY’S, S & P etc ======================================== Aug. 11. 2000:Conseco 2000-4 $1.2B Manufactured Hsg Contract P-T Rtd By Fitch Message 14200638 biz.yahoo.com Aug. 11, 2000: Fitch Downgrades Conseco Rtgs biz.yahoo.com Message 14200576 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 foreseeable 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. ragingbull.altavista.com Comment from RB poster on above S & P reports: messages.yahoo.com 8/9/00 1:58:00 PM : Business WireS&P Places Various Green Tree Cert Rtgs on Watch Neg The revision in the CreditWatch status reflects the increasing likelihood that Conseco Finance will not be sold to a higher-rated entity in the foreseeable future. ragingbull.altavista.com Comment from RB poster on above S & P reports: -------------------------------------------------------------------------------------------------------------- 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. moodys.com New York, June 30, 2000 -- Moody's Investors Service has downgraded the credit ratings of Conseco, Inc. and its affiliates (senior debt rating to Ba3 from Ba1). moodys.com New York, April 20, 2000 -- Moody's Investors Service lowered the senior unsecured debt ratings of Conseco, Inc. and Conseco Finance to Ba1 from Baa3. 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 ================================ Part 1 messages.yahoo.com Part 2 messages.yahoo.com ********************************************************** VARIOUS OTHER ISSUES IN CNC: ********************************************************** ISSUE OF PRODUCING A GIANT SHORT SQUEEZE: ================================================ First, to effect a short squeeze in CNC and see a giant squirt of cash upwards in your CNC stock: b) ask your broker to put the stock out of Street name, or b) ask your broker to put a sell price “ good till cancelled “ at let’s say $40 or $50. That will remove it from the short pool.. c) or simply ask him to restrict it, ie you don’t want to have it loaned out for shorting. Aug: 11, 2000:REUTERS: "Liquidator" Jacobs bets on insurer's turnaround biz.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 $5B under management. He has covered his CNC position: “ I am not going to go Against somebody of Wendt’s reputation “. 8-1-00 Star Tribune: Neal St. Anthony/On Business: Jacobs roars, short sellers yawn startribune.com 7/31/00 J.J. CRAMER FROM TheStreetCom editorializes: “ A great Idea !!!” ragingbull.altavista.com 7/27/00 IRWIN JACOBS WANTS TO PRODUCE A SHORT SQUEEZE. ……….He puts this Ad in WallStJ. then other papers messages.yahoo.com streetmonkey.com PERSONAL on Irwin Jacobs IRWIN JACOBS PICTURE : interactive.wsj.com Angling for Tie-Ins, Irwin Jacobs Took Up Big-Time Bass Fishing interactive.wsj.com Message 14204449 An introductory song about short covering: amazon.com messages.yahoo.com ======================================================== CURRENT SHORT INTEREST is ! 64, 000, 000 shares accordint to Wall St. Jour. But could be much higher, 78,211,523 shares According to this web site: trading-ideas.com Shorting Rules ragingbull.altavista.com BOOKS ON SHORTING ======================== (We encourage would be shorts to read these and go ahead short some more and make Mr.Wendt’s Day when the big squeezarooo comes along). capatcolumbia.com ” Bad “ Shorting Advice from Mr.P$nk ===================== “Mr. Pink's Picks: selected event-driven value investments “ in SI Thread, by Mr. P$nk Esq. Message 14187856 MISCELLANEOUS SHORTING =============================== CNC Stock Analysis of the day by paulthebigfinn at YAHOO board messages.yahoo.com ********************************************************** 7/22/2000 ISSUE OF CNC BANKRUPTCY or of DILUTION of SHAREHOLDER EQUITY ====================================== Part I messages.yahoo.com. Part II messages.yahoo.com. messages.yahoo.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 MR.T.LEE'S PREFERRED STOCK ========================================= messages.yahoo.com messages.yahoo.com ISSUE of VALUE of PREFERRED STOCK ====================================== messages.yahoo.com ********************************************************** LAWSUITS, INTERNET AND CNC ================================= 8/14/00 CNC hires David Herzog as V.P. and General Counsel Message 14211926 From Law firm Baker and Daniels a very large Indianapolis firm: bakerdaniels.com REVIEW OF RECENT 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 *********************************************** 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 *********************************************************** MISCELLANEOUS ****************** MISCELLANEWS CNC NEWS August 11, 2000: Dow Jones News: Conseco Preferred gains in NYSE Message 14204249 August 11, 2000: Dow Jones News: CNC FLEXIBLE PORTFOLIO MUTUAL FUNDS TOP PERFORMANCE Message 14204221 **************************************************** WHY I INVEST IN CONSECO ragingbull.altavista.com .WHAT IS CNC REALLY WORTH? View from a competitor Mr>Nauert, CEO of CERES: starnews.com A note from RB about who Nauert is: ragingbull.altavista.com WHO IS GARY WENDT *********************** 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 ON GARY WENDT ======================================================= . 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 WENDT'S BUSINESS CARD **************************** 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 ************************************************************* TA

To: Tunica Albuginea who wrote (2402)	8/17/2000 4:59:11 PM
From: Tunica Albuginea	Read Replies (2) \| Respond to of 4155

Aug.17,2000 CNC REVIEW and NEWS We had a great day today!!! Gary Wendt came out and said NOT TO WORRY ! ! ! ! siliconinvestor.com Up 3.4% Closed at 7.5 That story is best illustrated by today¡¦s featured post by paulthebigfinn at YHOO: Management¡¦s statement today is significant for the things it didn¡¦t say. It went . . messages.yahoo.com ¡§CARMEL, Ind.--(BUSINESS WIRE)--Aug. 17, 2000--Conseco, Inc. (NYSE:CNC - news) today issued the following statement: ``We believe that short sellers and other persons have been disseminating misleading information about Conseco's upcoming debt maturation. We refer investors to pages 7 and 46 of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2000, (filed last Monday) in which we indicated that: Conseco is currently in discussions with its bank lenders with respect to„h extension of its debt maturities. Although no agreement has been reached, management is optimistic that appropriate extensions can be negotiated. „h Conseco has embarked on several courses of action with respect to its Conseco Finance Corp. subsidiary (including asset dispositions and restructuring of ongoing businesses), as well as an asset disposition program with respect to certain non-strategic assets at the parent company level. These initiatives are designed to allow Conseco to reduce parent company debt over time. Conseco believes that the sale of non-strategic assets and the actions contemplated at Conseco Finance will generate cash proceeds of approximately $2.0 billion over the next 12 to 15 months. ``Please refer to the 10-Q for additional information.'' . . Management thinks shorts are ¡§disseminating misleading information¡K¡¨ and quoted the previous public record for support. Why wasn¡¦t any new information given? I can think of three answers: 1. They are in negotiations for the roll over, but don¡¦t have it finalized yet. 2. They are selling something big and don¡¦t have Lehman¡¦s permission to use the funds yet. 3. They are trying to sell the whole company¡K I can¡¦t think of any bad reason they wouldn¡¦t say more. If the shorts were telling the truth, then why issue a press release? I can only get management is in deep sht with the SEC. No, IMHO this is the start of something big. By: paulthebigfinn ====================================================== . . Of course TheStreetCom continued with it¡¦s Bearish To ANY CNC Good News As Usual. ----------------------------- " The comments did little to embolden investors, though, as Conseco stock was lately trading up just 3/16, or 3%, at 7 7/16, well off its 52-week high of 28 3/16. " ------------------------------- Disregarding the fact that CNC actually traded at 7 5/8, Message 14230638 ====================================================== As a result of the above, CNC went to 7 5/8 today, with a lot of SHORT INC PAIN Best described by Gene in his famous song: ¡§ It HURTS to be a SHORT ¡§ amazon.com ( aka #2 It Hurts to Be in Love By Gene Pitney ) amazon.com ============================================================ Shorts felt REALLY BAD today. How bad does it feel? Check this¡K amazon.com #5: Like a Rolling Stone amazon.com ========================================================== Shorts thought of going the Hemlock way.We suggested they do it properly And go here: Here's the proper way to use Hemlock: First become informed hemlock.org Then "Think Happy Thoughts" as by Jim Handey... hemlock.org Then do it. COVER YOUR BUTT!!!COLD TURKEY is always best: hemlock.org ========================================== cheers and good will to all, TA . . . . . . *********************************************************** $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ ********************************************************** . CNC Balance Sheet conseco.com . CNCRestructuringProgram.com quicken.com . . ********************************************************** CNC CHART & Technical Analysis ======================================= . CHART 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 . . *********************************************************** MAJOR RECENT ARTICLES ON CNC . ======================================================= Aug. 17,2000: Business Wire: Wendt Battles Shorts Message 14227830 . Aug.15,2000: 1) Lehman Is Latest Hurdle For Conseco's Recovery Message 14214595 Aug.15,2000: Conseco Still Negotiating Debt Maturity With Lenders Message 14214598 . . .Aug. 14,2000: FITCH TO UPGRADE COMSECO?? Because it is overcollateralized? Message 14212528 . Aug 9 (Reuters) - Conseco Finance, fixed final terms for its 2000-4 series $1.2 billion nine-tranche asset-backed bond launched on August 4. Rating Aaa/AAA/AAA ragingbull.altavista.com . Aug. 9,: A consortium of eight insurance companies has completed a $40.5 million investment in affordable-housing projects across the state, the first test of an effort to get insurers to voluntarily invest in community development. ragingbull.altavista.com . 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 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 . quicken.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: ¡K 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 paidby 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 CNC INVESTORS **************************************************** . GABELLI FUND UP 23% has 9% of position in CNC: messages.yahoo.com PROFIT VALUE FUND: 4 star Morningstar rating. In last 3 months has added new position in Conseco, to make in 8th largest position; position similar in size to its holding in Berkshire. messages.yahoo.com . ********************************************************** BROKERS¡¦ and ANALYSTS ¡¥ OPINION 8/15/00 Bloomberg: Novell, Conseco Are Among the True Stock Bargains:J.Dorfman cnetinvestor.com Message 14220318 8/10/2000Gary Smith from REALMONEY.COM at The StreetCom puts a buy on CNC with a stop at 7. Anyway, here are a few charts to look at as you sip your morning Cafe Yukon: thestreet.com ragingbull.altavista.com thestreet.com 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 7/31/00 Merrill Lynch messages.yahoo.com .7/26/00 LEHMAN MAINTAINS OUTPERORM II ON CNC Message 14109720 ******************************************************* . OVERVIEW of CONSECO INSURANCE RATINGS . conseco.com . ******************************************************* RATING AGENCIES , MOODY¡¦S, S & P etc . . . FITCH . . Aug. 14,2000: FITCH TO UPGRADE COMSECO?? Because it is overcollateralized? Message 14212528 Aug. 11. 2000:Conseco 2000-4 $1.2B Manufactured Hsg Contract P-T Rtd By Fitch Message 14200638 biz.yahoo.com Aug. 11, 2000: Fitch Downgrades Conseco Rtgs biz.yahoo.com Message 14200576 . . 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 foreseeable 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. ragingbull.altavista.com Comment from RB poster on above S & P reports: messages.yahoo.com 8/9/00 1:58:00 PM : Business WireS&P Places Various Green Tree Cert Rtgs on Watch Neg The revision in the CreditWatch status reflects the increasing likelihood that Conseco Finance will not be sold to a higher-rated entity in the foreseeable future. ragingbull.altavista.com Comment from RB poster on above S & P reports: . . 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. moodys.com New York, June 30, 2000 -- Moody's Investors Service has downgraded the credit ratings of Conseco, Inc. and its affiliates (senior debt rating to Ba3 from Ba1). moodys.com New York, April 20, 2000 -- Moody's Investors Service lowered the senior unsecured debt ratings of Conseco, Inc. and Conseco Finance to Ba1 from Baa3. . 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 ================================ Part 1 messages.yahoo.com Part 2 messages.yahoo.com ********************************************************** VARIOUS OTHER ISSUES IN CNC: ********************************************************** ISSUE OF PRODUCING A GIANT SHORT SQUEEZE: ================================================ First, to effect a short squeeze in CNC and see a giant squirt of cash upwards in your CNC stock: b) ask your broker to put the stock out of Street name, or b) ask your broker to put a sell price ¡§ good till cancelled ¡§ at let¡¦s say $40 or $50. That will remove it from the short pool.. c) or simply ask him to restrict it, ie you don¡¦t want to have it loaned out for shorting. . . Aug: 11, 2000:REUTERS: "Liquidator" Jacobs bets on insurer's turnaround biz.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 $5B under management. He has covered his CNC position: ¡§ I am not going to go Against somebody of Wendt¡¦s reputation ¡§. . 8-1-00 Star Tribune: Neal St. Anthony/On Business: Jacobs roars, short sellers yawn startribune.com . 7/31/00 J.J. CRAMER FROM TheStreetCom editorializes: ¡§ A great Idea !!!¡¨ ragingbull.altavista.com 7/27/00 IRWIN JACOBS WANTS TO PRODUCE A SHORT SQUEEZE. . ¡K¡K¡K.He puts this Ad in WallStJ. then other papers .http://messages.yahoo.com/bbs?action=m&board=7081488&tid=cnc&mid=62147&sid=7081488 streetmonkey.com . IRWIN JACOBS PICTURE : interactive.wsj.com . Angling for Tie-Ins, Irwin Jacobs Took Up Big-Time Bass Fishing interactive.wsj.com Message 14204449 . An introductory song about short covering: amazon.com messages.yahoo.com ======================================================== CURRENT SHORT INTEREST . is ! 64, 000, 000 shares according to Wall St. Jour. But could be much higher, 78,211,523 shares According to this web site: trading-ideas.com Shorting Rules ragingbull.altavista.com . BOOKS ON SHORTING ======================== (We encourage would be shorts to read these and go ahead short some more and make Mr.Wendt¡¦s Day when the big squeezarooo comes along). capatcolumbia.com . BAD SHORTING ADVICE . ¡§Mr. Pink's Picks: selected event-driven value investments ¡§ in SI Thread, by Mr. P$nk Esq. Message 14187856 . MISCELLANEOUS SHORTING =============================== CNC Stock Analysis of the day by paulthebigfinn at YAHOO board messages.yahoo.com ********************************************************** 7/22/2000 ISSUE OF CNC BANKRUPTCY AND of DILUTION of SHAREHOLDER EQUITY ====================================== . . Part I messages.yahoo.com. Part II messages.yahoo.com. messages.yahoo.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,'' Wendt 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 MR.T.LEE'S PREFERRED STOCK ========================================= messages.yahoo.com messages.yahoo.com . ISSUE of VALUE of PREFERRED STOCK ====================================== messages.yahoo.com . ********************************************************** LAWSUITS, INTERNET AND CNC . . 8/14/00 CNC hires David Herzog as V.P. and General Counsel Message 14211926 . From Law firm Baker and Daniels a very large Indianapolis firm: bakerdaniels.com . . REVIEW OF RECENT 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 . . 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 *********************************************************** . MISCELLANEOUS . **************************************************** MISCELLANEWS CNC NEWS August 11, 2000: Dow Jones News: Conseco Preferred gains in NYSE Message 14204249 August 11, 2000: Dow Jones News: CNC FLEXIBLE PORTFOLIO MUTUAL FUNDS TOP PERFORMANCE Message 14204221 . . **************************************************** WHY I INVEST IN CONSECO ragingbull.altavista.com . . **************************************************** .WHAT IS CNC REALLY WORTH? View from a competitor Mr.Nauert, CEO of CERES: Message 14173062 A CNC competitor!! ,Mr.Nauert, CEO of Ceres says that starnews.com If 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. And this is from a competitor!!!! . WHO IS GARY WENDT ****************************************************. Aug. 7, 2000 :BUSINESS WEEK ragingbull.altavista.com My comments on Business Week Article: Music¡KMusic¡KMusic.. Message 14127197 1997 FORBES/GECAPITAL: " BLOWING BUBBLES " forbes.com 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 WENDT'S BUSINESS CARD **************************** 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: quicken.com ******************************************************* TA