Allstate will be assimilated into another better run corporation within the next three years....count on it...
The final legacy of Sears hold over Tom Wilson and grim reaper Galen Shapiro.....
The final death of the once second largest American insurance carrier that had aspirations to be number one.
The ironic end result of “transformative growth” will be the eventual growth of a competitor from the remaining remnants of Allstate Insurance Company.......
Good luck to all of you left behind during this closing chapter....
Hopefully when all is said and done, someone will take a close look at whether the board of directors complied with the fiduciary duties...
The stockholders are fat and happy now mostly based on corporate buy backs and the dividend.
However, if that retention issue is not a one time fluke, that could change quick......
To the last American “grunt”, Don’t forget to turn the lights out on your way out....
4 replies (most recent on top)
Who would want to purchase all that outdated EA infrastructure when they could (can, are) just poach Allstate's customers with better, cheaper, more modern products?
Like Sears, Allstate will just slowly bleed to death.
Unless they significantly reduce the value of the company, I wouldn't count on it.
One can only hope a smarter & better ran company will purchase Allstate & FIRE the drunk ex Sears salesman Tom & the washed up Scumbag Glenn. Both of theses Scumbags are paid more than 10 times the industry standard. It’s a shame there is so much smoke that the board & share holders can’t see what’s going on in front of them.
If the stock price deteriorates, Allstate will definitively be in play....I truly feel that is the ultimate end game for this leadership team....
The only thing saving it right now as an independent company is the current market cap ....making any takeover expensive currently..
I think this will come down to the retention number...watch it closely...
If that retention number continues to be pressured, it will ripple down the stock...
And if the stock gets low enough for a large insurance company or even an auto company looking to sell insurance in house.....WATCH OUT!!!!
Someone will come in, keep the parts they want and sell off the rest...
As the OP said, the perfect legacy for this overpaid leadership team...