Re: Meet the new Conseco Finance boss -- WorldTradeStocks.com

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Subject: Re: Meet the new Conseco Finance boss

Author:
jonathan ouellette

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Date Posted: 16:16:17 03/10/03 Mon
In reply to: goldpot 's message, "Meet the new Conseco Finance boss" on 17:59:52 12/18/02 Wed

>Meet the new Conseco Finance boss
>
> curious to know as a dealer who was solely in business with conseco's repo financing if you as the new head of cfn plan to release any information regarding plans to continue to finance loans on your repo's or intend to solely wholesale them.. am in search for an answer as well as hundreds of other dealers here in nc so we might can also make a plan to restructure our business.... sincerly, jon ouellette vp southern choice homes, inc.
>
>Published Dec. 19, 2002 CONSBX
>
>Under Conseco's proposed bankruptcy plan, St.
>Paul-based Conseco Finance would be sold to a private
>partnership called CFN Investment Holdings, barring
>the emergence of a more generous bidder.
>
>CFN is a joint venture among three New York-based
>private investment houses, Fortress Investment Group,
>J.C. Flowers & Co. and Cerberus Capital Management.
>
>Flowers is led by J. Christopher Flowers, a former
>Goldman Sachs partner who helped the venerable Wall
>Street house offer shares to the public before leaving
>to form his own firm. His most notable accomplishment
>since then has been the restructuring of Japan's giant
>Long-Term Credit Bank, which was essentially insolvent
>under the weight of bad debts. In 2001, Flowers
>announced the formation of a new equity fund to invest
>in financial companies in the United States and abroad.
>
>Fortress Investment manages more than $1.2 billion for
>institutional clients and invests primarily in
>financial assets and real estate. It deals include a
>stake in Prison Realty Trust Inc., the largest
>corporate prison owner in the United States.
>
>Cerberus Capital specializes in investments in
>debt-ridden firms that it views as ripe for a
>turnaround.

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