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

To: Gene J. Abel who wrote (538)	12/13/1997 9:27:00 PM
From: Peter E. Thorpe	Respond to of 2068

Hey I bought OXHP, I also bought BOST and CUBE, and most recently NEM. I try to take a contrarian view. I wish OXHP had better news than it did, but I am willing to accept the fact that "I" thought the market was overreacting. I am sick of the investor lawsuits - did any one ever give money back to the company when it performed better than expected? I hope OXHP will get it's house in order and that this will eventually become a winner. At the same time, I realize that I accepted risk when I bought into this stock. Good investing to all. Dow 10000 by this time next year! Pete

To: Gene J. Abel who wrote (538)	12/13/1997 11:48:00 PM
From: LPasko	Read Replies (1) \| Respond to of 2068

I will get a copy of Fortune on Monday. Until then, since you've got us all excited <g>, what's the sum and substance of Fortune's take on this?

To: Gene J. Abel who wrote (538)	12/14/1997 7:48:00 AM
From: Thomas Haegin	Read Replies (2) \| Respond to of 2068

Re: Go, OXHP, go! Gene, as much as I want them to come through, just like you want, my trust in management is shattered completely. I would be willing to put worries about lawsuits and even the rather thin financial cushion on the backburner if they only finally relegated Wiggins or kicked him out completely and get a new CEO and possible some other guys from the outside. I wish some of the big institutional holders, if there are any left, would put pressure on to this regards. Maybe we shareholders could put together such a request to be put on the shareholder's meeting's agenda in March or April. Thomas

To: Gene J. Abel who wrote (538)	12/14/1997 10:11:00 AM
From: Terrapin	Read Replies (2) \| Respond to of 2068

Gene, re: "I recommend we all start pursuing the positive OXHP which still controls a huge market." I agree with your take on this situation but want to add that this thread would be less valuable if only positive cheerleading took place. Since I am not an expert on the industry I welcome the negative information so that I may research and evaluate its relevance. That includes such things as an accurate number of shareholder lawsuits and their claims. Speaking of which, has anybody posted the circumstances of managements selling before the crash? What were the percentages of their holdings? Was it within the legal window of trading for options? Was the selling mainly tax-related options selling? Somebody mentioned that the Fortune article hints to this. Since this would be the most likely basis for criminal wrong-doing it is a crucial point (IMHO). I am not concerned with the lawsuits since they will most likely be combined and settled out of court for a small impact on earnings which will only prolong a recovery (again IMO). The next crucial point is the ability of the company to sustain further charges for restructuring or reserves. Mike Burry has lent some valuable analysis to this subject. I believe his conclusion to be honest, well thought out and negative for the company but extremely positive for the thread and something that I will consider in my decision. If the company goes bankrupt all is lost for the small investor. Therefore a balnce sheet analysis is vital for potential buyers. We know that the medicare business will require restructuring and likely a charge. We know that there is a possibility of further charges towards reserves as this quarter clarifies itself. We know that the goverment compensation for claims is decreasing (how much?). Will these factors lead to bankruptcy? On the other hand we have anecdotal evidence of claims being paid quickly and notices sent out on time. Thanks to those who have done this basic research and posted. We have magazine reports that subscribers are NOT migrating to other plans. We have reports that the billing and computer system are repaired and up to date. We have reports of expansion into new markets and focusing on "niche" markets in the form of foreign language services. In other words the "business" is functioning well, the "back-office" is grappling with problems. In my last post I mentioned some negatives for the stock and a left-field buying point of $15. At this point I am asking myself if the management will be found guilty of criminal wrong-doing, if additional charges will drive the company to bankruptcy, if future earnings will be at a level to justify a higher shareprice. Just some thoughts, comments welcome, John ps: I have lost money as well thus far but I have been and likely will continue to average down.

To: Gene J. Abel who wrote (538)	12/14/1997 2:19:00 PM
From: Worswick	Read Replies (2) \| Respond to of 2068

Agree with you 100% Gene. Why all this anger? Perfectly good people here are turning into really het up biker types with big grudges. Today's (Sunday) Times piece by the formerly negative Reed Abelson at least poured oil on the waters on the OXHP issues. One of Ableson's interviewees raised a good point about Oxford. That is, what are the alternatives in the New York metropolitan area to Oxford? . It is and was the best deal for the money and people generally were very happy. I know people in one of the Blue Cross plans and they have been unhappy for ten years. Oxford has a $10 per visit deductible: Blue Cross, by contrast, has a yearly $250 deductible for doctor's visits then they will pay only 80% up to $2,000. and 100% after. There is another big deductibe for medicines and for hospital expenses. There is no comparison to Oxford what Blue Cross gives. So, before people quit Oxford they will comparison shop. The customer base has been very happy with Oxford and they can't and won't find anything quite like Oxford. I don't think you will see mass defections purely for this reason. Think about this Thomas. Another point. It is damn hard to bring down a four billion dollar revenue company to Bre-X zero. This is a huge company with influential shareholders who I believe will not remain passive. The question then comes down: "Are all these health plans just giant Ponzi schemes?" If they are the State oif New York which regulates these health plans will be in boiling oil. Five to seven years for your lawsuits guys. I hope you have a long time to reflect and your lawyer hangs in there with you. The millisecond your "free" lawyer has the slightest inkling that the payoff isn't going to be that easy or lucrative he won't take your calls. If you think your pissed now... you will really be pissed as you lead the charge without the troops behind. Bascially, the kind of lawyers that do this kind of work are not people who eat off good China.

To: Gene J. Abel who wrote (538)	12/14/1997 4:44:00 PM
From: LPasko	Respond to of 2068

I just read the Fortune article. Although it does cast doubt on whether Oxford committed any blatant fraud, it also casts doubt on the curerent crew's ability to manage the Company. The article states at the conclusion that, for the next year or so, Oxford "will remain in the intensive care unit." One thing apperars clear: it is time for Wiggins to recognize his personal limitations, and bring in seasoned management who can temper his "this tree can grow to the sky" attitude. Hopefully, the new EVP from Aetna will be able to lead the way.