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

To: dfloydr who wrote (455)	12/5/1997 8:10:00 AM
From: Ken Sammut	Respond to of 4155

The Dirks issue has come up several times now. The stock takes a hit and continues forward. The last time Dirks screamed it was covered in Barrons (negative commentary from Alan Abelson). CNC jumped all over Barrons and Dirks at the time. They sent out the appropriate releases and within a few days as many as 10 analysts place buys on the stock. If you want to be on the safe side. Sell the stock and buy CNC leaps until the dust clears. Ken S

To: dfloydr who wrote (455)	12/5/1997 10:37:00 AM
From: M.A. Miller	Read Replies (1) \| Respond to of 4155

Why worry about high goodwill. Anytime you purchase another company and pay more than book value, the excess goes to goodwill and gets amortized. The only way to avoid this is with stock deals that are pooling of interest. CNC goodwill is so high because it buys so many companies. I own Worldcom and Wcom has the same issue. When they buy MFS or MCI, the excess over book value goes to goodwill and gets amortized over 40 years. Are you concerned about this type of goodwill issue. It's widely accepted. Again, if you don't feel good, I'm glad you're out. I know most of the companies CNC acquired (having been in the insurance business), and the bottom line is they paid a modest premium for the companies, which is more than made up by hacking out overhead. That's how they make their money. Do you think the execs and Pioneer and American Travelers etc.. who took stock, and whose advisors tore CNC books apart would have agreed to take stock in CNC if these were real issues. In fact, they probly looked specifically at the issues Dirks raised when PFS did due diligence on CNC. I'm gonna leave any more talk about Dirks behind. You're out of CNC so there's no need to talk about it, and I guess its an individual choice.