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Don't underestimate the power a Chairman and CEO of a non publicly traded company has. That power is amplified when the shareholders aren't organized and can't form a united voice to question, let alone oppose, the chairman's directives. State Farm mutual is a dictatorial minded Chairman& CEO's dream. The only possible mechanism for formally challenging his authority is written in the articles of incorporation for mutual. Anyone have this to share or know who might? It's every mutual policyholders right to have.
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"Our most important metric." Michael has said during executive briefings that Net Worth is our most important metric. His focus has been made clear.
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"P&C". Michael has also stated that the focus needs to be on P&C. Financial Services are likely all under the "feasibility" microscope, not just the bank. The bank is gone. Expect announcements on the wind down plan after MIP is paid.
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"Forever". Michael has stated his mission is to ensure State Farm lasts forever. This adds color to his focus on net worth and p&c.
SUMMARY - Michael has total control. His focus is to grow State Farm's net worth as large as he possibly can through the mechanisms afforded him via a mutual p&c company. Employee sentiment, customer sentiment, and agent sentiment are all inferior to the pursuit of state farm lasting forever. Ego is largely involved here. Michael has stated the CEO is the embodiment of an employer. He is state farm. Ultimately,what does he want to be remembered for? His vision for the company beyond his own life will give us alot of answers as to where SF is headed while he remains in control.