This is a rumor I heard in the office, not online (oh, all that water-cooler gossip). Is Tipsord really out? I guess we'll have to wait until the board meeting is done.
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How old is MT Have to leave at a certain age as ER was forced out as well
This was a three year old question.
You are kidding right? SF posted a growth in policies for the 2nd year in a row, an underwriting profit (not stock market) and an all time high in capital positions. The directors will be throwing compliments his way.....
Any news?
Correct. Takes Board approval for any senior executive to stay beyond 65.
One agent told me that SF has policy that CEO can stay till he/she's 65 years old (I guess a common business policy). Wikipedia says MT DOB is 6/20/59, (turning 61 this year). So if the 65 y/o limit is true, he's still around for a while.
Tipsord is a f—ing evil a–hole.
New board member at state farm?
The heads of state farm in their winter Haven office we're so corrupt. Talk about s-xual harassment. They would retire the old men that did wrong instead of firing them. They know what is going on but let it go on.
I've noticed just the opposite. Advertising down in all markets. Only market not seeing a slowdown is the Weather Channel.
More "adjusting" to the plan in the next few months. Less experienced are now trying to develop SF way out of this mess and with that comes all the mistakes made in the past to be repeated in the technology area.
Any managers choosing to reply to this my advice is don't because the majority of you do not know the technology needed to turn this behemoth around. That is evident from the online site UX/UI and proper functionality. Even some of the developers I have seen retained can't remember what they had for breakfast that also applies to a number of managers------SH
You naysayers really crack me up. The Farm is stronger, faster, better than ever. I have seen the $$ spent on advertising and sponsorships. I see SF everywhere. Surely the mountain of cash spent on these things is seeing a return on investment.
Since the 2018 stock market didn’t artificially prop up the new failing business model, we can only hope for some top level staff changes this year. When your $90 billion in equities returns 20% in the stock market, it’s really easy to overlook a $7 billion underwriting loss ( not to mention losing 900,000 auto policies too!). With a negative return in the stock market last year , it won’t be so easy. Over 25,000 views of this post is a pretty strong indicator that people are ready for some new top leadership. Looking forward to the end of February when the 2018 financial results come out.
heh
No contract announcements at Convention. 12-18 months after.....
Agency is definitely different now, and I too get tired of hearing Agency slammed by people who have absolutely no clue what it takes to even survive out here. I am assuming all contracts are on the table, but doubt that Convention is where we'll hear about it. Convention is in three different sessions. If they make announcements in Session 1, then Sessions 2&3 will become mutiny. We'll get more vague hints about needing to rethink our commitment, etc. I wake up at night, dreaming they offer a modest buyout to get the AA97's to leave. I should be old enough and tenured enough to qualify if that ever happens.
Anyway, I've had a decent if unspectacular run. I'm in a community where I've made a decent living. I never qualified for travel, but remained Legion of Honor and occasionally qualified for a bonus that helped pay some bills. I would not say I regret leaving Operations for Agency. But if I could go back, I'd have really pushed to do something I loved and never gotten into this business to begin with.
Thanks for all of your personal efforts to help build this Company to what it is today. That said, I hope you have your financial house in order. There is a new contract coming and my guess is you will have no choice but to retire. There will be no option to keep your current contract.
I have been an agent for over 40 years, and have not seen SF in the mess that it is in. I have lost 30 plus years policyholders, and I considered a lot of them friends because of rates. This little three percent decrease that they gave some policies, and some other something applied to whatever else makes up the rates is a slap in the face. We received an email from our sales leader that was talking about a great sales opportunity this had created. When you have had 5 or more straight cycles of increases, and none of them were close to three percent, My last renewal on one of my cars went down twelve dollars. I have seen posts that downgraded agents, from folks that don't know what they are talking about. I started in a small town with zero policies, used office equipment, and couldn't afford a sign. Got no advertising incentives other that what everybody got, and have had a little over 200 policies assigned to me over time. This new system that has been created is one of the things that is ruining the company. Hiring agents like Dollar General is building stores. Investing tons of money with these new people, and they have to invest a lot themselves. It is all about big production numbers, and for the most part don't care how they get them. They spend thousands of dollars on buying internet leads, pay people to call constantly, and sometimes they get lucky and hit the numbers to write the person that is going to shop it next renewal, and the agent spends a fortune to write the policy. High lapse can ratio. There was one that came to my town, and left after a while . I know of one agent that left that was two , or three hundred thousand dollars in debt. These are common problems in agency. We are on the front line, and catch the fire when the rates i go into space, and suffer loss of income everytime they go out the door. We are responsible for all of our expenses. I have a friend that retired recently, and was told that ED Jr. was heard raking Tips over the coals recently. He was creating a lot of noise. A lot of people heard it. I wanted to go to the convention but a serious scheduling conflict came about, and I am going to have to pass. I wanted to try to get some idea about where the co. is going. I remember in Dallas that they had women playing roles as agents, and that let us know that they were going to start hiring more women. I remember a regional convention when competition was eating our lunch, and Ed Jr. took the podium, and said that The Big Dog Is Off Of The Porch. Rates were lowered, and underwriting was relaxed. It worked for a while, but losses went through the ceiling, and the Big Dog got back on the porch. I have rambled enough. I just hate to see the company that I was proud to be a part of destroy itself. Only time will tell.
Hope Tipsy is out!! Sad to see SF run into the ground ever since he took over.
No memo was released, as expected. It’s such a shame that these rumors were spread. I’m embarrassed on behalf of mankind that people lower themselves to such low and pathetic standards to spread such rumors. That said, I wish those people the best and hope they get help. The people that don’t deserve help are usually the ones that need it the most.
Hey, where's the memo on this? Haven't seen anything about it, even though some folks on here said it as a done deal for sure, no doubt....along with speculation as to why. Is this just someone spreading BS?
State Farm is a great company.
No doubt about it.
99 percent of employees would love to see him go, but that won't solve the problem unless the ENTIRE senior staff is also gone. These decisions were not made by one person, but the whole crew. This group has taken to company back a few decades in time. Trust me, there is life after State Farm. Find a company that cares.
HR probably has a social media monitoring room to watch activities on sites like this.
No wonder the Gentleman from PA took off.
@2jhz HUman Resources you are working overtime tonight. Are you logging that time?
"Truth be told he was put on administrative leave and will be fired" And how would you know that?
So much conjecture passed off as facts....
Truth be told he was put on administrative leave and will be fired. Ed will be back in the interim. Thank God. But it’s too late. Have lost so many awesome people with this last debacle
Very sad day for State Farm. I always thought of Michael as a father figure. I shed a red State Farm tear today. Not Remarkable.
No email came out. FAKE NEWS!
does anyone have the actual email about this? seems like that would clear things up.
A lot of wishful thinking here. It's your right to hope. It's not real though.
The ignorance of these posts (see 1rub) reinforces why so many of the decisions are not only correct but necessary.
It HAS been announced!!!
On this site and in an alternate universe.
It's 11............
More crickets.
YOU'VE ALL BEEN BAMBOOZLED
If he is “out” when will this be announced?
@afh details were provided on Pryor internally. He took a better offer from USAA. The news just didn’t bother to get those details before printing. He’s a great leader and they are lucky to snag him.
Mary Schmidt doesn’t she have Admin. Services as well?
State Farm screwed my family twice over closing offices. They closed GR and Kalamazoo is slated to close. My husband got out and got a better position. I’m glad to be done with them.
@gvk wonder if this is referring to Pryor from PA. Was announced he's leaving today with absolutely no details.
Let’s throw up the bat signal and have Ed come back.
OP dont get your hopes high. He'll be around for quite a bit