Just imagine how much demutualization would benefit The Farm. The IPO offering could be epic for a Fortune 40 company. The ability to trim the fat as well as creating a new corporate entity would allow for renegotiation of existing mother mutual agency contracts (encouraging those 30+ year agents to retire versus not being in the office and collecting renewal commissions). Also pushing more accountability to senior executives and board members to stockholders versus the good ole boy network. This should have been explored under Tipsy’s watch but was evidently swept under the rug
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It would make the company worse but it would immediately clean out all the totally incompetent Executives. They are all wannabezzzssss! Would never be hired or promoted to Executives in a real stock company. Illinois St. is not a academic powerhouse to produce CEOs...for some reason at d-mbarsszz SF it is. They are a joke!
Its a good thing no one at state farm visits here, what a terrible idea...
That would mean CEOs and Execs would be held accountable for growth and profit instead of riding on the 150 billion in reserves. Right now they can make their millions while we lose policy holders and have a combined loss ratio over 100%. If you think they are concerned about anything other than grifting off that 150 billion I have a bridge to sell you in San Francisco
Ahhhhh, you realize there is no IPO in that scenario right? The company is already owned by the policyholders and as such the shares would be issued to them. Plenty of examples out there for you to review.