is presently LOOSING money! The people that denfend their R&D are nuts! Everyone that works there, or who has worked there knows that Mercury is very inefficient. Their R&D budget is low beacuse they have refused to invest for the future. But hey, that's nothing knew for Mercury. They have let their BEST and BRIGHTEST leave because they refused to pay more!
This is very simple people, as others become more efficent and Mercury remains a haven of luddism, one of two things will occur: Mercury's profit margin will evaporate (this has already started) or they will raise rates (this has already started too), and loose market share!
The best thing that could happen here is, the old man could pass (or the ex-Mrs.) forcing many shares to become available to some huge mega-insurer! This would mean an end to the Good ol' Boy (and Girl) network!
I know some of you BLIND Mercuryites will attack, attack, attack my post! That's fine, but no one can deny the reality of Mercury's 101% combined ratio!
I have no conection with Mercury. Though a very close person to me did work there! I didn't like the way she was treated by Mercury, and personally I hate Mercury with every fiber of my body.
You asked me to share my methodology. Mercury needs to pay and promote based on merit. Mercury needs to value its best and brightest. Mercury needs to demote the slackers. Mercury needs to become more technology savy. Mercury needs to promote within its departments.
My loved one worked there for several years. She listend to people bitch and moan over and over. She watched those same complainers receive the same 4-5% raise ever year. She watched others use their vacition and sick time at the most cretical time! She watched someone actualy sue the company for a bogus wrist injury, then brag about receiving her 5% raise!
Silly! When you mentioned the combined ratio of 101% you forgot to say that combined ratio was for ALL of the Mercury companies in all states. How about the biggest Mercury company how did it do? How did California do? If you have done your homework and reported it in its true light (objectively) you would have said that California was profitable. The combined ration reflects "start-up" loss in other states. By the way, just in case you did not learn this in business 001; start-up is always at a loss!
Let's get to your motivations; not your distortion to cause harm.
Was that hurtful? I am so sorry. Perhaps a drink or a hit might help.
Thank you for your comments Claimsone. Perhaps some on this board should take the time to listen to the next conference call so they can hear first hand what the numbers are for all the states MCY writes in. CA numbers are doing quite well and both premiums written and policy count are up. The CA market is incredibly competitive right now and people are flocking to MCY to get the best rates as most others have increased their rates.
What exactly do you posters want R&D to do? Do PC's make your job that much easier? Is the dictation system all that bad when you have a competant typist? The current BCS works just fine. When PCs make it company wide, don't expect wide spread enthusiasm or expedited claims handling. You will still sign in the same way you did on the dummy terminals.
You just can't please everyone........ Oh by the way, all MCY employees should take a glance at their 401k summaries that just came in the mail....Note that MCY stock is up while most others are down! Hmmmmmmmm Coincidence?
I never attended college, but that's what makes America so great! Where else in this world could an average high school graduate (like me), run a successful business? I mean jeez, I make a ton of money, have a very nice home, the Mrs. and I drive very expensive German automobile's too...(PAID FOR)!
But hey, JFK once said, "Life is not fair, some men are stationed at Antartica, other men are stationed at Pearl Harbor".
I much prefer Don King's famous line, "Only in America".
Regards, the doctor
p.s. You shouldn't assume intellect and education are joined as one.