Anyone got any clue as to what the H is going on this weekend? Intranet says executive board meetings from 06/05-06/09. I’ve heard rumors Ed Rust has been spotted A LOT in Bloomington but it’s just a rumor.
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going public? LOL. A mutual company is owned by the "policy holder". The annual "policy holder" meeting was 6/8 where the "policy holder" has the right to come and challenge executive regarding company actions as the company serves the "policy holder" and a formal response is issued. If SF went public there are no single percentage owners of the company that would benefit, only the "Policy Holders". No executives would benefit and most would be shown the door leaving their current golden parachutes, large salaries and bonuses behind. Why would an executive trade an 8 digit bonus for 20,000 shares that will never move off $14 or $15 a piece and cannot be converted for 5 years or so?
@gv And what is the advantage of going public versus Mutual structure?
May as well go on and sc--w everyone at once and get it over with.
Wouldnt be surprised if rhe company is going to go public as soon as more cuts and cost savings are made. Everything so far has been to make the company look better for investors, especially the changes in agency.
I think TMs need more AI to help with their Tasks. My TM is over a week behind in their CLIP while I wait for UDD (CQMs, RORs, RRs) and get bitched at daily on the phone by clmts complaining about delays.
Maybe they should train up an AI model and bring back a virtual GJ Mecherle to run the company?
Oh wait… who would be around to collect the bonuses?
@e7 What, pray tell, would SM’s M if everything below them was AI?
Somebody didn’t think this through.
@e7 Sick of UDD claims. We need bots to tell claimants to F all the way off and tell them to CALL.YOUR.OWN.INSURANCE because we aren't done doing the full 9 yards of bullcr-p that we aren't staffed to deal with to decide if we are even going to begin to cover the accident before we even decide whose at fault. Talk to this person, talk to that person, call the agent, call UW, talk to your TM, TM says do more and more, TM talks to SM, SM talks to consultants. But you're the one answering the phone, and everyone knows how being the one to answer the phone goes.
I would think the analysts could manage the AI bots.
JakeAI can handle the DFS complaints and California ROF.
Section Managers can be the flu--ers congratulating the leaders on their cost savings brilliance
AI to replace all roles below SM. Analysts to oversee the agents. Consultants to review coverage on UDD claims. SMs to GenAI responses to DOI complaints.
Moving ET to Bloomington. Bringing teams back in full time in 2027. Layoffs at the hubs.
What's going on? A circlej--kof the highest proportions. And, no, Ed is not coming back to save the ship.
Does anybody have a clue? As to why all the execs would be around for the annual meeting?
No wonder this company is struggling, with employees who are literally posting about their cluelessness of State Farm history and culture.
@bp I’m aware Ed lives in Bloomington I’m not a mo--n but if I was retired I wouldn’t be going somewhere I’ve left frequently - maybe cool your jets a bit
They have frequent meetings, i know people here like to spam about any time anyone has a meeting at state farm, however, most people above call center have meetings all the time, like nearly daily.
Yes executives have meetings. Not an indication anything is occurring. The rumor about ed rust was just someone spamming here, and Rust does stop by home office occasionally, and has done so for like a decade.
This site is such garbage at this point.
Mutual has the annual meeting June 8. This is normal however I will say there’s going to be a lot of agents showing up at this meeting as mutual policyholders
@OP Normal June Board meeting and Ed lives full time in Bloomington Mr. Einstein.
Ed lives in Bloomington.