https://seekingalpha.com/news/3774889-allstate-will-sell-headquarters-for-232m-as-more-employees-work-remotely
7 replies (most recent on top)
I read the article, Northbrook is not sold, it is for sale with an offer on the table. That offer has a lot of contingencies associated with it. I am sure local politics will have a lot to do with the developer getting approval or not.
Let’s keep to the point. Northbrook is sold to a Nevada developer and Allstate has purchased companies that are under performing. This equates to more downturns for Allstate. They will be a leader in India. Not in the USA. Their roots are Sears and that was their hey day. Bye bye big blue ! And good riddance for the way you have treated your employees. Karma is a b t h ! You will learn all about it finally as you become a full fledged India based company. Customers are going to others carriers. Allstate is old school cut throat, expensive and just not cool rad bad hip or relevant Their real reputation is lower than a snakes belly. Look at the stock. Down down down. They should be high due to all these acquisitions and hook ups? They aren’t in the mainstream any longer.
Jesus people either you have been living under a rock or haven't paid attention. The process of selling Northbrook started around 4-5 years ago, They started shifting people from in the office to WFH at Northbrook, they started increasing jobs in Irving, they started increasing employee centers in Charlotte and Chandler, every high level person I interacted with years ago said Northbrooks days were numbered. They can hire people cheaper in Irving, Charlotte, and Chandler of course now that they are putting more emphasis in WFH it makes it easier. The other thing is there are certain areas where TA is discouraged from higher people in order to keep salaries low.
To the OP you realize "sold" and "selling" are not the same thing right? because based on your post it doesn't look like you do.
The other thing is Allstate is behind the curve on selling off properties, State Farm led the way, it is a way to reduce maintenance cost and those buildings in Northbrook were not new and not energy efficient, easier to sell off the properties than keep and try to upgrade or rebuild.
Cool story bro
That sure didn’t take long from the time they announced their intent to sell.
@bkl+1e3sD4uR Is spot on
Don't kid yourself...this is one more step towards the company being sold !