Maybe not such a bad person at heart after all….
3 replies (most recent on top)
Wilson should prepare a thank you letter to Shapiro. Without Glenn pushing to broaden distribution (painful but necessary), the future would be bleak. Tom missed every opportunity to gain market share in IA/Direct as he was literally "captive" to the agency system, or so he believed. The restructuring in 2020 wasn't because of Covid, but a transition to Line of Business model and away from Regional offices. Yes it was opportunistic as claim counts dropped with lower driving and accident frequency. This has aged well 6 years later with shareholders rewarded (from $110 to $260 since YE 2020). It's their money. Employees work for the owners, who are shareholders and not Tom. Now the company is balanced between agents, IA's such as Nat Gen, and Direct. No wonder Glenn negotiated to keep some his options/restricted shares on departure!
It’s just so weird that every 8-12 months a ‘Glenn Shapiro … please love me’ post appears on here.
@OP your dad hurt a lot of people in the middle of Covid running a company flush with cash. He made a bad decision, ask him to write an open letter apologizing for what was obviously a mistake and ask for forgiveness. Anyone that was looking could tell he was just the scapegoat for TW.