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  • acrimony2 acrimony2 Jun 16, 1999 11:03 AM Flag

    Prunum Systems and Wackos

    It was my understanding that post-merger,
    Colonial reps would be brought in-house with the group and
    id reps as "voluntary reps" This was piloted in NY
    and met with great sucess. The reps in New York State
    are all doing very well and have benefit from closer
    contact with group reps and collaboration. However, in
    the latest staffing plan to come down I haven't heard
    anything about Colonial.

    Given the sucess of the
    New York pilot I would think that management would
    eventually move to that system. Seems as though they are
    working out the Group-ID interaction and staffing plans
    before they crack another nut. I would think that UNUM's
    attitude would be that if AFLAC can be extremely
    profitable so can UNUM; however, it is clearly not working
    now and has been a drag on earnings and the stock
    price. Since PVT shareholder will now have a stake in
    the combined entity and knowing Chandler's shrewd
    business sense I wouldn't be surprised if there are some
    major shake ups long term. Short term, I think Colonial
    will be largely ignored until the bumps and wrinkles
    are ironed out with the office and field force
    consolidation.

    Any thoughts on Colonial's
    underperformance???

 
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