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The Allstate Corporation Message Board

  • gxstockholders gxstockholders Sep 17, 2011 12:31 AM Flag

    I'm Planning On The Ever Present Potential For Dilution By Offering

    *Because anything is possible.

    *Because Allstate "seems to be" in a quiet period that would not be unexpected given the Esurance acquisition, it can't be helped that it naturally adds to and reminds me of the sense of uneasiness about the lack of transparency I already am reminded of and occasionally must shrug off regarding reading about facts or intentions as presented in interviews by Allstate C.E.O. T.J. Wilson whenever stated in the press. I find his statements occasionally contradict each other from one press release compared to another on similar matters of a political and politicaly correct nature when he promotes American jobs versus employment outsourcing, employee appreciation and recognition of importance as the backbone of the company. It brought to my attention that Allstate is a very strange company when it comes to public relations. Allstate receives a great deal of press because there is often conflict that surfaces between Allstate and the face of Allstate, it's indepedant agents. Additionally Allstate never wastes an oppertunity to send "PR NEWSWIRE RELEASES" announcing that agents are hiring personnel. They seem to do it in any way possible to try to promote the goodwill Allstate itself is providing by hiring those people.
    At the same time the same Allstate might happen to be conducting business as usual and slashing headcount in the United States in yet "another unpublicized reduction of force". I have never heard about a reduction, read about one or heard Mr. Wilson announce one while doing an interview. I do know he likes pizza though. He said that. Corporations regularly realease such information to gain investor confidence and help the price of the company stock by gaining investor confidence. I opine that Allstate is afraid releasing the news would only further lower investor confidence. This is secretive and deliberately avoids transparency even if it is buried in a 10q every time it happens because it is not announced and because Allstate does not want Mom, Pop or Stan to know about the layoffs of the employees here and the multiple offices in foriegn countries inheriting American "skilled jobs" because the taxes are lower there.
    Local residents find out about the people leaving Allstate as well as the people that lose employment as a result of the reduction of jobs at Allstate and then it cascades. But it is good for the workers hired abroad to perform duties for Allstate.

    *Because I do not believe the Esurance acquisition cost would have been assumed, nor would it be seen as possible to assume it now had the continuation of the extreme financial losses that were further worsened by the latest failed stock repurchases occured prior to the already unfrugal, costly and very late to be instituted over-reaching marketing plan, that plan being the Esurance purchase.

    *Because industry wide losses are mounting and all insurance companies are suffering cash reserve losses to be recognized as significant while the economy is also in a recession and interest rates are at record lows. Interest rates will remain at those lows for the foreseeable future.

    *Because the tendency at this time is to rush to present secondary offerings before the worsening of economic conditions close the window.

    *Because of the public questions and uncertainties presented in the press about the quality of the past history of the judgement of the powers that be or have been at Allstate to make or have made decisions in the best interest of Allstate.

    I don't trust this guy anymore. He does important things with no indication of forethought or forewarning. I don't think his employees trust him. I'm starting to think this guy would sleep better at night if there was not one employee in the U.S. left.

    If this guy needs money I believe it will go bad I'm going to assume the worst.

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    • pdbwinchester Sep 17, 2011 8:31 AM Flag

      The Trust Factor for both Wilson and Liddy has always been questionable to the folks who have sold the product and made this company. These Brennen mentored managers only know how to slash, dash, and enrich themselves at the expense of employees and customers. Stockholders see the erosion; but the unpopular board is slow to act to correct the situation. Allstate needs management that appreciates the Customer, Employees, Producer Groups, and the Truth. Stockholders will benefit if the alignment is consistent with these factors.

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