So it looks like auto and homeowners lost 6 1/2 billion dollars compared to 5 1/2 billion the year before. Since we started this reorganization in 2012, each year is worse than the previous year.Good thing the stock market pulled in 20% – that is the only thing that is saving this company now.
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Last vestige of stock market profits are gone unless they move their funds out but lose out on any more double digit percentage gains and possibly losses depending on portfolio.
Watch the Inside there Neighborhood cast. It's so obvious from that and the message highlights that other layoffs are coming. John said we must keep the expense reduction momentum going. What does that say. I say we are in for a choppy two three year stretch with dozens more large layoffs. Look at Bank and Ad Services.
It will be blamed on execution
How many BILLIONS of dollars in losses does it take to fire a CEO, because apparently 12 BILLION so far is not enough...
Yes, there were operating profits but each year they declined and gradually turned into losses. Overall performance goes down every year.
Ok, I'm not the sharpest person in the world but please explain to me if your losing money and the next year you lose money (because your trying tonight the ship) and now you lose even more money after 3 years of making changes, why hasn't the CEO been fired because they have failed in their mission to right the ship....
Actually, there were 4 straight years of operating profit from 2012-2015. And the Fire Affiliates generated an underwriting profit 3 straight years from 2013-2015.