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Biotech / Medical : Oxford Health Plan (OXHP) -- Ignore unavailable to you. Want to Upgrade?

To: Andreas who wrote (373)	12/8/1997 9:09:00 PM
From: robt justine	Respond to of 2068

Andreas: You and I are in agreement. I believe that there is another shoe to drop here. As S. Bashakis and pogey bait have pointed out the results of the audit were to be completed last week. If they were positive then Wiggins would have had no problem standing in front of a group of people either regaling the crowd with the floral bouquets or simply saying "no comment". He would be vindicated after the fact for the "no comment" line when the good news officially came out later. So, I believe that the shoe to drop here has a hole in it. At least as an investor, it appears more prudent to be on the sidelines at this juncture. Dennis Vacco and the boys in NY would like to come away with some publicity out of this. You make a very good point as to the ages of the players here. They are intelligent, no question. But do they possess the wisdom necessary for the battle against the ultimate powers? I think not. Witness the unwise faux pax on the sudden meeting cancellation. Mistake of youth. I do, however, believe that management is not without political buttons of their own to push. But these buttons should be used with care. When one (Wiggins) has started a company at such an early age and has built it into such a corporate success, a degree of invincibility and hubris tends to coat one's skin. With that brash feeling, I'm sure the management of this company is quite bold in their approach to the NYS regulators. But in the insurance business, corporate boldness has not yet won fight #1 against regulatory opportunism. A State Insurance Department (particularly NY's) when supported by the state's Attorney General (particularly Vacco) is a formidable force for any mid-sized corporation. This young, stressed, bold management, in my opinion, will push the political buttons available to them with such force to incite the regulators enough that the regs finally pull rank on OXHP. All IMHO, of course.