Replies to post #352106 on Zeev's Turnips Patch-No Politics (ZEEV)

[unctarheel]

Direct General Corporation Announces $20 Million Share Repurchase


31 January 2005, 5:52pm ET

NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan. 31, 2005--Direct General Corporation (Nasdaq: DRCT) today announced that its Board of Directors approved the repurchase of up to $20 million of its outstanding common stock. The shares may be repurchased in accordance with Rule 10b-18 under the Securities Exchange Act of 1934 and is expected to commence after February 11, 2005 and continue over the next 12 months. At its earliest opportunity, the Company intends to adopt a formal 10b5-1 purchase plan to implement the repurchase program. The Company expects to develop the purchase plan considering a variety of factors, including potential stock acquisition price, cash requirements, acquisition opportunities, strategic investments and other market and economic factors.

"The Board of Directors' authorization to repurchase shares reflects confidence in our future and our prospects for continued growth, and a belief that, at current market prices, Direct shares are undervalued, representing an attractive investment for the Company and our shareholders," said William C. Adair, Jr., Chairman, President and Chief Executive Officer. "We believe that the combination of the Company's current strong balance sheet position and expected future cash flows should permit us to execute this program while enabling us to maintain sufficient levels of capital to support our growth and pursue additional acquisition opportunities. We anticipate that this repurchase program will add long-term value to our shareholders and is expected to be accretive to earnings per common share."

GENERAL INFORMATION

Direct General Corporation, headquartered in Nashville, Tennessee, is a financial services holding company whose principal operating subsidiaries provide non-standard personal automobile insurance, term life insurance, premium finance and other consumer products and services through neighborhood sales offices staffed primarily by employee-agents. Direct's operations are concentrated primarily in the southeastern part of the United States. Additional information about Direct can be found online at http://www.direct-general.com .

Mentioned Last Change
DRCT 18.75 1.09dollars or (5.49%)
Safe Harbor Statement

This press release contains statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

These statements can be identified from the use of the words "may", "should", "could", "potential", "continue", "plan", "forecast", "estimate", "project", "believe", "intend", "anticipate", "expect", "target", "is likely", "will" or the negative of these terms and similar expressions. Forward-looking statements include, but are not limited to, discussions regarding our operating strategy, growth strategy, acquisition strategy, cost savings initiatives, industry, economic conditions, financial condition, liquidity and capital resources and results of operations. All statements in this press release not dealing with historical results are forward-looking and are based on estimates, assumptions and projections.

Forward-looking statements are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed in this press release. These risks and uncertainties include, without limitation, uncertainties related to fluctuations in interest rates and stock indices; claims frequency and severity experience; cyclical changes in the personal automobile insurance market; the effects of competition in the areas in which the Company operates; changes in economic and regulatory conditions; estimates, assumptions and projections generally; inflation and changes in financial markets; the accuracy and adequacy of the Company's pricing methodologies; the outcome of litigation pending against the Company; court decisions and trends in litigation; the ability to obtain timely approval for requested rate changes; weather conditions including severity and frequency of storms, hurricanes, snowfalls, hail and winter conditions; changes in driving patterns and loss trends; and acts of war and terrorist activities.

In addition, the Company's past results of operations do not necessarily indicate its future results. The Company undertakes no obligation to publicly update or revise any use of the forward-looking statements. For more detailed discussion of some of the foregoing risks and uncertainties, please see the Company's filings with the Securities and Exchange Commission.

[unctarheel]

On the other hand:



Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Direct General Corp.
E-mail or Print this story

31 January 2005, 6:34pm ET

HARTFORD, Conn., Jan. 31 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Middle District of Tennessee on behalf of all persons who purchased the publicly traded securities of Direct General Corp. (NasdaqNM: DRCT) ("Direct General") between August 11, 2003 and January 26, 2005 (the "Class Period").

The Complaint alleges that Direct General violated federal securities laws by issuing false or misleading public statements. Specifically, the Complaint alleges that Direct General improperly concealed the negative effect that changes in the Florida Personal Injury Protection ("PIP") system would have on its business and failed to properly reserve for such a contingency. Moreover, the Complaint alleges that certain corporate insiders sold $108 million worth of their personal holdings of Direct General stock before the substantial impact of the PIP changes was disclosed on January 26, 2005.

Mentioned Last Change
DRCT 18.75 1.09dollars or (5.49%)
If you are a member of the class, you may, no later than April 1, 2005, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement.

The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).

For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at [phone], or by e-mail at [e-mail] . To view a copy of the Complaint initiating the class action, which was not filed by Schatz & Nobel, or for more information about this case, class action cases in general, or Schatz & Nobel, please visit our website: http://www.snlaw.net .

CONTACT: Wayne T. Boulton
Tel.: [phone]
Website:

http://www.snlaw.net

e-mail:

[e-mail]

SOURCE Schatz & Nobel, P.C.
-0- 01/31/2005
/CONTACT: Wayne T. Boulton of Schatz & Nobel, P.C., [phone],

[e-mail]

/
/Web site:

http://www.snlaw.net/

(DRCT)

CO: Direct General Corp.; Schatz & Nobel, P.C.
ST: Connecticut
IN: FIN
SU: LAW

NJ-EO
-- NEM050 --
3299 01/31/2005 18:34 EST

http://www.prnewswire.com

[TexasTech]

Zeev:

Yes I'm not sure why he decided to sell out today either. I wasn't aware of the latest news on DRCT until untarheel posted the latest information. Talk about mixed messages?

Good night, and God Bless,

TT

[simple]

Company Hired to Check Backgrounds on Private Taser Buyers
1/31/2005 / The Associated Press

SCOTTSDALE, Ariz. (AP) - Taser International Inc. is hiring a company to conduct criminal background checks and verify the identity of private citizens trying to buy its stun guns.

Taser chose Atlanta-based ChoicePoint Asset Co. to provide online criminal background information and identity verification, said Rick Smith, Taser's co-founder and chief executive.

He said the checks confirm Taser's commitment to ensuring its devices, "designed for personal safety and citizen defense, are purchased for those very reasons."

Taser sells its stun guns primarily to law enforcement agencies but has more recently been marketing them to the public. The company has advertised on billboards and in newspapers in the Phoenix area.

The stun gun can temporarily paralyze someone with a 50,000-volt jolt of electricity.

Taser spokesman Steve Tuttle did not return a call Monday for comment on company sales to private buyers.

In recent weeks, Scottsdale-based Taser International has been pummeled by a federal inquiry into claims the company has made about the devices' safety records and an informal Securities and Exchange Commission probe into sales that were possibly inflated.

Several newspapers have also raised concerns about the safety of Taser devices, though the company has said its stun guns never have caused serious injury or a death. The Arizona Republic has linked Tasers to 11 deaths and to several injuries involving police officers.

Some medical specialists have also said there is a possibility the electrical shocks may exacerbate a risk of heart failure when people are agitated, have existing health issues or are under the influence of drugs.

The background checks will focus on criminal history and verifying that would-be buyers are who they claim to be, ChoicePoint spokesman Chuck Jones said.

He said Taser will set the criteria, "and ChoicePoint will then simply review available public records to determine whether or not an individual has anything in their background that would disqualify them from purchasing a device from Taser."

ChoicePoint, formerly the insurance services division of the credit agency Equifax but a separate company since 1997, has databases with approximately 19 billion public records, Jones said.

It provides information and credential verification services for businesses, government and individuals, and helped conduct initial screening of airport screeners for the Department of Homeland Security, he said.

---

On the Net:

Taser: http://www.taser.com

AP-ES-01-31-05 2345EST

This story can be found at: http://ap.tbo.com/ap/breaking/MGBRFK1MN4E.html

[orkrious]

zeev, you track market internals, correct? do you have last Thursday's naz new hi/los and adv/decline figures? I was out of town and forgot to write them down.

tia

[kmjb9763]

Zeev,what is your plan for JCOM? Tks. mike