The recent posts about blaming claims are beginning. TG is a loud of short cited BS. Glen and Tom look at their robber baron history of wrecking companies and parachuting out Liberty Mutual last disaster.
Now we have people posting from other companies hoping for failure, its coming. The stock gains were from cutting payroll, sure stock jumps when you trim fat, but company did more than that, it cut to bone, besides the unethical and deliberate lying they did when doing so (its been gone over many times, lying about some personality test nonsense, then waiving it and inviting people back to take huge pay cut and return their severance because--oh no! we underestimated outgo payroll liabilities during a plague! oh dear!!)
I have to stomach the BS HS retirees who didnt do cr-p working under their Enron parties and made 100k and defined benefit pensions, or worse the shills or TG worrywarts that actually spend time on here even though their jobs are safe (I guess, or the just like to troll that may be it).
Company has been cut too deep, now all measures are in sh----r regarding premiums and reserves. Wow. How did that happen? You have producers filing a class action lawsuit and you cut their income, they have to be really happy. And you have the other part risk management you cut to the bone, froze wages and cut benefits and doubled workload post reduction in force.
Guess what! those stock gains are short term shareholders! The Pet Shop Boys will not expand our market share magically. So now I read Glen is made at claims, glen couldnt manage a claim or do our work in a minute with the demands and garbage tools we are given to work with. I do litigation for siu Id love to see any manager do my job, my own supervisors cant do it lol. I keep hearing what a worthless d-mb cog I am well lets see how this goes and heres to you if youre right.
in the meantime Allstate is ripe for a labor organizer or the US dept labor to get interested, is a union the answer no idea I know pluses and minuses but Id welcome the input frankly. and the labor abuses including how the reduction was handling have to be a violation of labor laws no matter how safe you think you shielded yourself Allstate with your vendors, shell corps, "Personality tests" (omg gimme a break, its been documented enough on here that that was a load of BS). At-will is not completely at-will you see, esp not during a PLAGUE. At-will exists in statute, but must jurisdictions (I did saw I work in law remember?) have eroded that doctrine with caselaw that says due process must exist esp when doing a culling like was recently done, and employment is contractual, so LYING about the reasons for cutting staff (OH IT WAS TEST RESULTS, NOT your SALARY-- LIE), then saying you will hire those people back REGARDLESS of their test score IF THEY TAKE A PAY CUT is a load of BS. Combine with the the violations of the FLSA I see happening with workload demands and oh, plenty more violations I am documenting dont you worry should be a delight to labor, gov, and the media.
Do I like Allstate? I did 20 years ago, esp before TG cr-p came on board. Is stock doing good? Yes!
And institutional investors take heed IT WILL NOT LAST. Market share will not grow and cutting staff is not the answer. Moving work to India will HURT your loss ratios and risk managements but oh damn payroll will look good. Its sad that the true investment companies that claim to do deep research just look at the 10-Ks, Q, proxy statements, press releases, whatever and think thats what companys future reflects. Hey what do I know, Ive just worked her 20+ years and will be glad to leave this s show.
Jump on company snoops (I know have tinfoil hat), retirees, TG advocates whatever.
This is directed more to my coworkers, who I see sick from the workload, but working 60 or more hours week (this isnt an exagerration), trying to be good employees, and helping to make sure the exec team gets their 10-15K annual bonuses again for FY 2021. Btw while you bombard us every day asking us to donate our time and money for volunteer work (which is a great thing agree) but why do I have to do it with an Allstate shirt on, take pictures, and do it on my time? I do volunteer btw but not for Allstate and you think maybe ONE year you get a 10mil bonus you could donate ALL of it to a cause? The SEC filings show you get those bonuses (NOT your salary BONUSES) every year and then you bombard us daily in emails about giving from our paychecks? Do you see that as kinda tacky?
Do you think $1,000 donation is the same for someone making $35k a year with no medical vs giving $1k from someone who makes couple $100k+ year in salary and then gets a $10 million bonus MIN EACH YEAR is the same. Is that kinda...tacky. Noblisse oblige?
Food for thought.