The market has NO faith in the myth and fallacy of TG… NONE..
For the last 3 years, this stock has been a literal dog…with billions in losses to show for the efforts…
The BOD gleefully rubber stamps not only the company direction but approves tens of millions in performance bonuses for literal abysmal performance…while the company sticks the nails with unachievable goals for the front line in an unsubtle effort to eliminate them for non-performance.
The Allstate brand flutters between communicating that they are a low priced carrier while advertising with mayhem that the customer should avoid those awful “low priced” carriers.
Retention is embarrassing and the customer service currently is one of the worst in the industry….
Wilson has his band of lawyers has figured out a way to cheat long term employees out of severance and unemployment with the vendor transfer scam…literally leaving employees with the awful choice of leaving with NOTHING or agreeing to nightmare positions with a vendor without any job security.
The only things that this leadership team knows how to do is raise rates and cut staff chasing margins that no longer exist…
Tom Wilson has been here for nearly 15 years and in that time he has chased away any of the existing “Allstate talent” and hired high level managers from mediocre competitors (at best) to surround him….and then easing them out one by one as the company has imploded on his watch…..
Now 15 years into the Wilson era, the company bleeds capitol, has lost significant market share vs, competitors, the customer service infrastructure that existed is gutted, employees who were once loyal have grown to literally despise the corporation and there have been shall we say some major integrity issues that have come to light in magazines such as Consumer Reports and that have cost the company tens of millions in fines and settlements.
The Wilson era is and will continue to be a failure. All of the major changes in his watch e.g, continuous improvement, the disastrous. “Industry changing” advertising campaign, TG, etc have been failures costing the company billions….
There is NO leadership, nothing positive to drive employee loyalty performance….just a continuing sense of dread about what is coming next…..
13 replies (most recent on top)
Don’t forget the failed Essurance acquisition and forcing the P&C organization to subsidize his cr-ppy financial services operation for way too long before finally being forced to give up and sell life ops at a huge hit to the balance sheet. Just a matter of time before his next major disappointment is NatGen followed by yet another swing and a miss at going direct. Everything TW touches turns to cr-p and yet he some how manages to keep his job while his horrible hired scapegoats take the fall.
Is there a way to do a short on just Allstate? I would bet all my savings on winning that hedge.
Who is this Tom Wilson person? Name sounds made up IMO
Liberty Mutual was smart enough to reverse everything having to do with TG after the a@@ known as Shapiro brought his s@@t vision to Allstate.
Tom Wilson and the incompetents around him are too ego driven to ever admit they were wrong. They will double and triple down while losing billions.
Nothing will change as long as Wilson is around…
TG will be his last major initiative and he will ram it down the throat until he retires or is fired. He will never change course as that will indicate his admission of the massive failure that his leadership has been.
He will continue losing billions, scr@&ing customers and employees, playing the shell game to hide retention losses and saying the same BS at every quarterly meeting…
By the time this napoleon decides to leave, it will be much too late to save this company….
Tommy is always right and he will burn the place to the ground in proving it..
I put my entire 401k in allstate
When do executives get their assessment and “notice” for lack of profitability and stock price for employees profit sharing and investors? They don’t perform THEIR job and get to keep it, and their bonuses. The least they could do is keep our company stock at a respectable price. And if not, they should not have their job or bonuses. Mad
@apd+1ovAuSdc. Doooossshhhh!.... Flush! Obviously, you don't work at the Big A.
Comment about claim staff is false. Agree since 11/20 performance has been poor. Prior to that they drove huge fast track gap to competition year after year. It will be quite a while until they return to prior levels of excellence.
….and don’t forget, our claim employees are the worst in the industry and have been for years
Any share price increases in the past generally a result of basic financial engineering. Profits (yes, we used to make money) were redirected to share repurchases, ultimately reducing the denominator in the EPS calculation which is a major factor in stock value. The failure to maintain a profit margin on increasing revenue is a lesson in mismanagement through the inflationary period. Unfortunately, the story has always been growth OR profit, instead of profitable growth. Every growth initiative ahead of pandemic or inflation run has always ended poorly. At some point, it's too simple--fire the leader/coach/manager/CEO, not all those simply carrying out his poor strategy.
Pretty spot on analysis...hate to admit it though.
@whr+1ovAuSdc, feels like 100…
I have 25 years leading our fine team. Tom.