Waiting for Murphy to pull off anything that might help his shareholders is wishful thinking. He just knows how to help himself along with that disgraceful Board he gerrymanders.
I wonder what happened to Play the Keys, the man I accused of being an employee or some paid schill for the company which he vehemently denied. It's kind of strange that he stopped posting at the same time SIGI was purging itself of some management folk. Was he one of them?
He ought to come back and give us one of his patented SIGI endorsements. Remember when he could make a Murphy news conference sound like the second coming when others thought it was just a bunch of baloney!!
So many things happen to give us so much confidence in this company.
On Dec 6, Ex-VP, Connell, who resigned (was fired?) sold 50,000 shares of Selected in the high seventeens!!
Guess he knows more than we do. We're praying something happens by way of a sale. He apparently feels there's not a chance of that!!
Oh well, back to the drawing board.
Home office turnover is not likely to include senior management. I mean who woulda thought that the GC of Selective would be among the top TEN compensated GCs in the entire state! Over $1.1 million in cash and stocks. And even made the top 5 list of GCs who cashed out stocks. If "do as I say and not as I do" applies here, I should sell, right?
Hundreds of shareholders share your frustration. What is going on at this company is a travesty and the shenanigans border on corruption.
You have a mindset which starts with the CEO, permeates into the Board of Directors, and is simply explained. It rests on the principle that the company exists for them, that it first satisfies their greed and if there is anything left, the shareholders might benefit.
It rests further upon the belief that the CEO can artfully spin quarter end results and have the shareholders believe progress is being made.
Progress?? The share price is 14-15 dollars less than it was ten years ago!!! And this completely inept CEO even refuses to throw shareholders a crumb by increasing the dividend to at least 15 cents a quarter.
What should we do? Well, unfortunately, shareholders have little power to change things. Proxy fights cost money and unless the Board of Directors has the guts to fire this terible CEO, SIGI will just languish.
We are left with prayers only; prayers that some company will come along and buy this company which still has a good marketing foot-print and loyal agents.