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

To: AK2004 who wrote (3392)	10/5/2000 3:58:58 PM
From: 44magnumpower	Read Replies (3) \| Respond to of 4155

<font color=red> IRWIN REASSURES CNC HOLDERS. Should we listen to the independent company auditors that have given a clear opinion to Conseco shareholders that there is over $5.7 billion of shareholder equity in Conseco? Absolutely! (With $5.7 billion of shareholder equity and 325 million shares outstanding, each Conseco share would be worth approximately $18.00 per share based on audited book value.) Finally, let’s not forget the best thing going for Conseco – that is Gary Wendt and his organization. I can’t imagine anyone wanting to bet on a short seller vs. Gary Wendt. I don’t deny that I am a large shareholder of Conseco and some people (the short sellers) wonder why I am going to all the trouble I have to explain my views about Conseco. I don’t expect Conseco’s stock to rise on my statements; however, there is so much disgusting distortion of the facts and scare tactics going on by the short sellers and their media constituency that I felt compelled to do what I have done in an attempt to somewhat balance the situation. The fact that the price of Conseco stock is down this week shouldn’t discourage anyone. There was one large institutional holder that frankly put pressure on bringing Conseco stock down this week along with the continued short selling and the negative one-sided media coverage. I believe as strongly as ever that for those of us who hold on, we will be handsomely rewarded and the shorts, all approximately 70 million of them, will be obliterated.

To: AK2004 who wrote (3392)	10/5/2000 4:02:45 PM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 4155

This might make it a bit clearer: biz.yahoo.com It's not 100% clear that these deals are one and the same since the dollar figures don't quite match up, but what is clear that CNC is in a mode of selling off blocks of business, not acquiring them. You could call it a positive step if you focus only on the near-term goal of getting the debt under control. In the bigger picture, though, all this disposal of business has the side effect of making CNC a considerably smaller company.