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

To: Cogito who wrote (3429)	10/6/2000 2:49:32 PM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 4155

Perhaps you'd like to comment on Jacob's statement that CNC is worth over 18 bucks a share based on 5.7b in assets? I can answer that. As of 6/30 shareholder equity (the figure Jacobs is using, not "assets") has declined to 4.9B. And of that 4.9B, almost 3.9B is intangible "goodwill". So tangible book value is more like 1.0B, or about $3/share, a far cry from Jacobs' $18. As an aside I do have to agree with the basic assessment that Jacobs' campaign seems to be playing directly to those of us on these message boards. There are little language subtleties, a tendency to play a little loose with numbers, but above all a sense of an "us vs. them" mentality he keeps pushing upon the reader.

To: Cogito who wrote (3429)	10/6/2000 5:59:19 PM
From: Mr. Pink	Read Replies (1) \| Respond to of 4155

Saul Steinberg's Reliance Insuranc showed a huge book value right up until it filed for bankruptcy too. CNC has over 3 billion in goodwill that should be written down. Period. Wendt is full of shite, in His opninion, when he says otherwise. Wendt is also a very fat man who looks just like the Pillsbury doughboy. MP

To: Cogito who wrote (3429)	10/6/2000 6:03:07 PM
From: oldirtybastard	Respond to of 4155

Perhaps you'd like to comment on Jacob's statement that CNC is worth over 18 bucks a share based on 5.7b in assets? My only comment is that in case you and Irwin haven't checked the tape, CNC is worth 6 9/16 at the moment, a price that the market has decided is better than a higher price it was trading at very recently based on the new information available. We'll see what CNC is worth in the near future. I myself am looking forward to Irwin's next attempt to get himself above water.