Word: coss
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...will win this year's race to become America's highest-paid chief executive? With little more than two months remaining in 1996, the favorite by about 50 Rolls-Royce lengths looks to be Larry Coss, 57, a self-effacing former used-car dealer, whose total compensation as CEO of Green Tree Financial Co. in St. Paul, Minnesota, is streaking toward the $100 million mark. Coss, whose company specializes in financing mobile homes, motorcycles and other big-ticket consumer items, walked away with $65.6 million in salary and bonus last year, leaving better-known titans like Sanford Weill...
Measured by performance, Coss, whose pay consists overwhelmingly of Green Tree stock, may deserve a little extra in his packet: he has managed to boost the company's value at a torrid 83% compound rate over the past five years, making it one of the hottest issues on the New York Stock Exchange and winning encomiums from the likes of Fidelity mutual-fund guru Peter Lynch. Just last week Green Tree reported record earnings of $227.3 million through the third quarter and a stunning 50% increase in its loan volume, to $7.57 billion over the same period last year...
...Coss founded Green Tree in 1975 to finance trailers and recreational vehicles. Mobile homes remain its biggest business--the company claims 28% of the market--as it diversifies into leasing office products and secured credit cards. Most mobile-home customers are first-time home buyers or retirees with annual incomes of about $26,000; the trailers cost an average of $34,000. Green Tree's break came in the 1980s, when the savings-and-loan crisis drove many thrifts out of the mobile-home market. The company moved quickly into the vacuum. The gamble paid off big when the mobile...
...Coss, the company's founder, keeps a low profile. A rider and an aficionado of Thoroughbred horses, he likes to relax on his South Dakota ranch or at another residence in Flagstaff, Arizona...
...crumbling layer cake stuffed with metal and concrete. Smith fell apart, crying and screaming the names of her sons, Graham-Wilburn recalls. The two women waited three hours in the vicinity of the blast, waiting, hoping, praying for good news of the children. Smith's brother, Daniel Coss, 25, an officer with the Oklahoma City police department, found his nephews. He identified Colton at the temporary morgue that had been set up near the former day-care center. Three hours later, Coss located Chase's body at the medical examiner's office...