http://www.pantagraph.com/business/local/state-farm-has-operating-loss-of-b-net-worth-up/article_d2b61d82-451e-5c4b-8321-86ba82369bd1.html
What are all of your thoughts/opinions about this?
9 replies (most recent on top)
If we want to lower expense lets get rid of the 4 corp jets and work smarter!
Glad u said it. Hell no its not because of Kat claims. That's pb bull. We r loosing policy's because we have dumb--ses in express and front line and price for sh--ty service. New hires that know nothing and No training. Our company has become a joke. Have someone from express call me daily for me to tell them it's their job. So dumb they don't even know it's their job to
handle. Let's fire some more old timers. Totally a joke. They will fail. All employees move your insurance. Have your family and friends do the same. Louality is a 2 way street. U just have to laugh at this point. Nothing U Can Do As A PEON.
It’s laughable that they attribute this to a bad “cat” year. That’s just PR spin. Blame a cat for the aftermath of CDE and countless other boneheaded moves.
Gain is due to stock market gains which can vanish in no time. Sad to see that we're dependent on bubbles. SF will be screwed with high operating losses, high expense ratios, an agent model no one gives a crap for, crappy claims process, and a hodgepodge of legacy systems that impedes the use of AI and other emerging technologies or even providing a decent customer experience.
Great leadership, Tippy and the gang! You've positioned the company for a terminal decline. The current layoffs are a taste of the pain coming when stocks crash.
"The company reported the increased net worth for the company was primarily due to an increase in the value of its stock holdings and the impact of the federal tax overhaul."
This is interesting---since the $1000 bonus was quickly dismissed as being due to taxes and as a job well done bonus.
That seems concerning at first glance that growth is due to something that cannot always be relied upon.
Further evidence of two things:
1) Tipsy is focused on numbers on a balance sheet at the expense of everything else. (With Net worth being a metric he is particularly obsessed with).
2) Tipsy has no idea how to "operate" a business.
This is not the only evidence we've seen of his obsession with Net Worth. And it certainly feeds into some of the speculation about what his end-game is.