Can someone explain to me why SF is not on the Stock exchange?
I know for a damn fact if it was, these shenanigans wouldn't be happening!!
Is there a good reason why it's not publicly traded?
17 replies (most recent on top)
It’s not a “mutual fund company”. State Farm is a mutual company. A mutual fund is an investment tool. A mutual company is owned by its policyholders. A stock company issues stock and the company is owned by the stockholders. The SEC has nothing to do with State Farm because we are not publicly traded, no stockholders and no insider trading or insider info, because we don’t have stock!!! So no one to know to buy or sell the stock, based on insider information, which is illegal and gets the SEC(not the college football SEC) involved. Having trouble realizing this has to be explained to working adults.
State Farm does have major issues in claims. IF you think you’re overworked in the hubs or at home, try being CAT deployed for 9 or 10 months. That’s almost a year away from home. 6x12. Something is seriously wrong. And there is no end to this madness. If your young, find somewhere else to work.
True...it's a lose lose situation either way.
We are f'd!!
To the contrary. If SF were to de-mutualize, then EVERYTHING would be 100% geared to minimizing expenses and maximizing profit. More layoffs, offshore call centers, institutional cutting of corners. See “Allstate Insurance” for a picture of that. Got to keep the stockholders happy.
After seeing Allstates horrific decline and downward spiral after de-mutualizing, and the fact that now they are offshoring actual handlers, and how horrific the handlers are treated there now....im out of SF goes the same route.
Allstate is publicly traded , and their forums read just like ours do.
at no point during your incoherent rambling was any form of an intelligent thought expressed. I award you no points ..............and may god have mercy on your soul.
@1iqc-does your ignorance know no bounds? You clearly don’t even understand the definition of “inside information.” Please don’tsubject the rest of us to your grand illiteracy.
Yea, OP (snowflake) cause no publicly traded company ever plays game with info, earnings, ect. What planet did you ride that unicorn on from? If you were in the cube next to me I would make your life more miserable than it obviously is.
You don't have to be a stock company to be involved with insider information. i.e. BIDEN.
LOL@1sjl is another id--t. Mutual companies don’t have inside information-that applies to stock companies. This forum attracts the d-mbest of the d-mb.
OP is an id--t.
Trying not to be mean here….but really? It’s State Farm MUTUAL. OP’s post is indicative of why it’s hard to give any real credence to the folks who complain on this forum.
A mutual company is owned by its customers in mutual company. It typically results in decisions made in the best interest if its customers, thus avoiding decisions made to line pockets of investors and game playing to meet quarterly projections. Helps keep premium more competitive.
Insider information is illegal and closely monitored by the SEC. SF thrives off insider information. Lol
How in the world not know the difference between mutual and stock.?
Mutual fund companies are not traded.
What kind of training do they give you? I'm not even an employee. I just like to read about corporate dysfunction and SF keeps me coming here.
Thanks for validating my hobby. It must be he-l on the inside.
SF is a mutual company and note publicly traded. No mutual insurance companies are on the Stock Exchange. This could soon change.........from what I am hearing.