Looks like Wilson, Brandt, and Shapiro might get a ultra luxury retirement after all.
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Capitalism at its finest!!
Yes. That is the American corporate way. CEOs exist not for the shareholder of the future but for the stock value of the present that determines their compensation.
There are thousands of stories of CEOs temporarily increasing income and profits from companies that they either hollowed out or allowed to become stagnant in order to milk profits from soon to be obsolete product lines.
Allstate leaders are squeezing the operations and desperately acquiring companies to look good on paper short term, not for the long term health of the company. They will cash out shortly either through a merger or undisclosed incentives in their compensation plan.
Wait three more years. The company will have paid out the execs an incredible amount of money and the company itself will either be gone through acquisition or folding into itself like GM - perhaps alive but inexorably dying.
@1hdc+1fWcBa8v you hope the company you work for does poorly... Wow
I hope it tanks.
Are you not a shareholder too? Pretty sure we all benefit from a strong stock value. Unless you aren’t part of profit sharing, that would be another story altogether.
They're doing their job, keeping the shareholders happy.
Good for them. Now they can buy a used yacht from Russian oligarch.
How many employees and their families did they have to sh*t on? How much gouging customers with illegal bait and switch tactics and lowballed claims settlements did they act upon? All so moral sewers and human wastes like Wilson and Shapiro can float around on their yachts and and sip on $1500 a bottle cognac and they can jerk off a few hundred fat cat shareholders.
All the while they will continue to fu-k us in the a-s when it comes to pay and benefits and forget about work life balance while you at it. A lot of this bu-----t can traced back to when Stock Buybacks were made legal in the 1980's. So instead of investing in the workers or creating new product lines they just keep buying back the stock and artificially raise the stick prices for a bigger quarterly bonus for themselves.