It started when the current ceo got placed….a finance and accounting manager who didnt have a clue what he was doing and still doesnt to this day. And lets not forget Robert Yi who under the guidance of the ceo put in place of not hiring folks when employees retired…transition…they called it…..it has been put of control the last 13 or more years with no end in site…..13 billion underwriting loss for 2022…record breaking for the company and somone needs to take the blame and it the current leadership…..maybe time for another town hall meeting and have the ceo on there explaining whynhe has failed……
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@1okw-just as I figured. A si--y fairy hiding behind a keyboard pretending to be something he always wanted to be but didn’t have the ba--s or brains.
I’ll tell you what, you can get a good look at a t-bone by sticking your head up a bull’s a-s, but I’d rather take the butcher’s word for it.
We are just beginning on the outsourcing. Work has been underway for over 2 years to examine the international tax implications and develop a plan to lease/sell the south complex. More announcements to come…..
Two suggestions to become profitable
Eliminate the pension
Outsource as much as possible
Seriously-maybe you want to say incompetent leadership started in 1922. It is always laughable that someone that has never ran even a cool aid stand has all the answers to a Fortune 50 business. Incompetent is your life.
Incompetent leadership started in the 90s and has gotten worse to the point it is a cancer at all levels of leadership. Cronyism is part of the problem but they fail to be accountable for putting people in positions that are way over their head hence current results.
You people need to quit whining and pull yourselves up by your bootstraps. Instead of envying me, my tremendous wealth, and my phenomenal experiences try building lives of your own. You will be much happier.
LMAO at $13 billion.
We are gonna make it back, next major initiative it to get rid of all the winey little snowflakes and replace them with turds, they still stink but spend much less time complaining and actually get 6% more work done in any given day. Are you ready?
Since this former accountant was named CEO in 2015, he has tried to instill a numbers and metrics-heavy work environment designed to reward results. He has failed miserably. State Farm’s results since he became CEO have been utterly miserable. He has no people skills, no pulse of the organization and his personal ethics are highly questionable. His senior leadership team are like-minded bean counters whose efforts to reorganize have been a monumental disaster. The behemoth of State Farm in the US insurance industry has fallen and may be going the way of other large corporations such as Sears due to the lack of vision, creativity and an over-dependence on employee metrics. State Farm thrived when it stuck to the culture of being a relationship company. Today, the accountants in charge have the culture only they appreciate, but is not conducive to a growing and energetic work environment that knows that happy employees make for happy customers. The CEO needs to be fired.
Its just mind blowing..13 billion underwtiting loss while he took a 20 million plus bonus..I realize the bonus he got was for 2021 results but the company sustained losses back then as well. If sf was a stock company je and his leadershit team would have been ran off a long time ago
The company is a mutual company. It is owned by the policyholders who didn't have a clue nor voted for the 25 million dollar bonus he raked in. It is an absolute slap in the face when a CEO takes ANY bonus with a record underwriting loss of this magnitude. They will always hold the average Joe who is trying to play the game honestly to the highest degree of integrity when behind closed doors none are held to the same standard. Corporate America boardrooms are turning mafia syndicates while being protected by huge teams of lawyers. So sad such a great company has lost its brand and reputation. VERY SAD!