Maybe I don't know anything about insurance after all. Shrinking P/L and C/L books even before heading into a soft market cycle, rising expense ratio, rising interest rates , weirdly-positive equity returns of dubious sustainability, income comprised substantially of a 'special' dividend from a company which just happens to be controlled by WTM.... and the stock is UP 3%? I confess, I really-really don't get it.
Any company that didn't see below 100 combined in 2004 is just a badly run insurance company.
pay bonuses, have $25 million dollar phony "consultants" do studies, downsize, rightsize, close offices, move offices, move home offices, get out of product lines, get into product lines but bottom line is..........
if you cant make a buck, you suck!
Canton it is! Could this be a way to herd the cattle into to one location?
It will an easier commute for the HR folks when they hand out the pink slips. Thus we save on rent and gas.
Next question: Will Canton have toilets? Or will we have to do our dumps at home?
See you in Canton. I'll bring the toilet paper, if you bring the coffee.
Obi's home office is leaving boston for canton to save 40% on rent. While the're at it, why not out sourse themself to cacutta and save the stockholder a lot money and the field a lot of grief ????? We will also save a lot on performance shares as 7 figure rupees will benefit the bottom line!!!
Good questions to think about.
I sense the "officers" I work with would throw me under the bus before they would stand up and show any loyalty, and appreciation is my paycheck.
I heard the following yesterday. There was a "private" who worked 50+ hours a week for 15 years, and was given 4 hour notice to clean out her stuff. When asked why since her job was still needed, and she had always been rated a good employee. Her "officer" said it was a business decision and not personal or related to her work performance.
She asked the "officer", if the company needed to cut costs, why did it pay out million dollar bonuses to the Officers? The response: thats confidential information and may or may not be true.
The HR rep (aka management caddy) sat in silence, to insure nothing was said that would come back to bite the officer (ie lawsuit for wrongful termination) . At the end he handed her the package and said let me know if you have any questions, thanked her for her loyalty and hard work, and then got up and left. The HR rep had been there less than a year.
The officer said he had another appointment, but to take her time cleaning out her office.
Since Business is much like war, we should examine each business in light of the strategies that make or break the war.
First, how do the Officers treat the solidiers? In a good Army they make them work hard and follow orders, but work hard to make sure they are taken care of. Because you never know when you might need that private or what he or SHE knows that will help or hurt you.
Next, how do the Officers treat themselves? A good Officer will be respected by the soldier. He or SHE will be smart, tough, but also fair and comapssionate. He or SHE will protect and by loyal to the troops that make them achieve their goals.
When Officers in an Army fail to act this way. The long term impact is that war is lost, even though battles are won thanks to the good soldiers.
Hence lets look at the Officers of OneBACON and WTM. Fellow soldiers are we respected for the work we do? Do we get treated fairly and with respect? Do our officers think of us before themselves? Do you respect the Officers, are they engaged in the battle? Do Officers only take what they should and make sure you get a fair share?
Think about it!
and the already wealthy. It's a piss poor employer. Takes no social responsibility for the privelage we as a society have granted them to be licensed and operate. Treats their employees and customers like a cheap whore. Getting the most and giving back as little as possible.
But, who said life was fair? This is 2005 and we have George W. Bush as President. The wealthy and powerful will continue to run over the working person until changes are made.
No one at WTM has the balls to speak up, so they will be tossed to the curb sooner than they think. Sad but true.
But hey, if you can accept that its a great investment. Personally, I'd rather work and invest elsewhere.
It is quite obvious that you are completely naive about the OBI experience and the symbolism expressed by the enlightened poster. That person is simply transferring how employees are treated at OBI to similar policy adjusted to the family unit. Clever! He just forgot to go as far as OBI would and shoot the dog, through his retired parents on the street and put the fear of God in his neighbor that they will be next. With the ultimate goal of futher enriching the parvenu class.
If you have been at One Bacon less than 2 years and are looking they say, so sorry, glad you are looking.
If you are a long timer One Bacon person they just say, so sorry, we have filled the position......