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The Allstate Corporation Message Board

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  • ztek_98 ztek_98 Sep 24, 1999 10:17 AM Flag

    Hurricane Floyd and ALL

    at 35 1/2 after holding for years. The company's
    battling some really tough competitive trends. I'm not
    sure any management could find a way out of their
    problems, such as pricing pressures, growth of direct
    distribution channels, new competitors like AIG cherrypicking
    their customers, etc. Before you call mgt. names, note
    that virtually all the p&c insurers (CB, BRK, PGR,
    etc.) have stocks that are radically underperforming
    the market.

    At some point, though, ALL will
    become a tempting takeover target for some European
    financial conglomerate. The Europeans love American brand
    names, and ALL is a great one.

    There's no way I'd
    buy the stock even at these levels, though. The
    competitive landscape is simply too ugly.

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