Is there any legal accountability on the BOD for negligence if Allstate goes under on their watch??
They have a fiduciary responsibility to shareholders …is there any penalty if they fail at that responsibility??
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Financials such as banks and insurance collapse a lot quicker than retail. Especially when capital has been laundered so much and regulators are onto your antics. Plus TW and the rest of the gluttons will "cash out" their chips long before a total collapse.
We are already beyond the point of no return of ever getting this company back to even close to what it was but it will never fully collapse. It will be bought and piece mealed to another entity with the Allstate name and branding remaining in symbol only. The Allstate that we all once knew is already pretty much gone.
It took Kodak 7-10 years and that is my timeframe…people will look back to these days and TG as the turning point to the slow death of what was once a thriving and iconic “American” corporation…The OP was a little quick but was correct in the implication of his/her post…
Allstate is wounded and unless something changes quick, we know where it is leading.
There are plenty of arrogant and incompetent executive examples similar to Wilson and the gang that led companies currently in the graveyard of corporations “l”….that led their industry when in their prime but were destroyed by the greed and hubris of leadership..
@oee+1o87Tk2K, how long do you give it? Sears went around in circles for about 10 years, Blockbuster about 5, AOL about 10 years.
My timeline is that in 5 years, the Allstate name will be a subsidiary of some other large corporation, a brand rented out similar to the RCA brand is today or will disappear entirely…
This board of directors will be long gone but the writing is on the wall. “Taking rates” is a losing strategy…TG is a losing strategy as there is no real customer service component…
Short of changing direction, this company is toast. It will not be quick, but it is certain…
@rea+1o87Tk2K Lol I didn’t say anything wasn’t amiss. I was responding to the OP’s comment about repercussions for the BOD of the company goes under on their watch. The insinuation of that is that it’s happening soon. Which is not going to happen.
@eji+1o87Tk2K, celebrating that credit rating of BBB…
@eji+1o87Tk2K, celebrating that wonderful business acumen indicated by the quote, “It has been a bumpy ride but we have executed well.” Lol
@eji+1o87Tk2K, good luck retaining and attracting customers when you are taking rates higher than your competitors who can actually service them…
No one said Allstate is going under now. It is a slow agonizing process as it was for Sears and the others who have traveled this road.
If you grill look at Allstate and do not see anything amiss, stand by those words and please throw all of your savings right now into the purchase of Allstate stock.
Your timing would be good as Tommy and the boys are spending more company capital to artificially inflate it as we speak…lol
Allstate is not going to go under LOL. We’re not even remotely close to that. And I am not a handler. We have a lot of capital and the rates we are taking will begin to offset the loss payouts we’re seeing. The challenges we are facing are not unique to us. All insurance companies are struggling with profitability right now, at different degrees but again this is not unique to us.
They have already failed in that responsibility. Horribly. And I see no accountability yet.