While I certainly sympathize with the people at Travelers who would be losing their jobs, I don’t see how the AG of any state has the legal right to object to a merger between two national companies that intend to use that mereger to achieve economies of scale strictly on the grounds that it might adversely affect the economy of his state. This sounds more like political grandstanding, and an attempt to blackmail MetLife.
Considering the probable number of policies between the two carriers in CT, vs. the costs of litigating with the CT AG and finally succumbing to his blackmail to get regulatory approval to merge, I wonder if the numbers wouldn’t justify just pulling out of CT right now, obviating the need for approval at all.
Even though the people who work in the administrative side value “job security”, they now can enter the sales side of the company. Chances are good that there are openings…
The merger also brings all the Primerica people into the fold; that should add to the total number of employees.
Aside from our AG’s propensity to inject himself in any headline grabbing turn of events, I cannot for the life of me figure out why Metlife is so willing to swallow this dog that they would sell the Pan Am Building over Grand Central Station, and their Landmark One Madison Avenue Headquarters, once the tallest building in the world, and of which they have owned since the turn of the 20th century. That for decades was highlighted on the face page of their life insurance policies with the slogan “The Light That Never Fails”. The light is now rented real estate, just like the rest of american society – it is just an installment economy. No ownership society, only a live for today attitude. this flies in the face of the idea of long-range financial planning that I was taught as the foundation of financial security.
While I certainly sympathize with the people at Travelers who would be losing their jobs, I don’t see how the AG of any state has the legal right to object to a merger between two national companies that intend to use that mereger to achieve economies of scale strictly on the grounds that it might adversely affect the economy of his state. This sounds more like political grandstanding, and an attempt to blackmail MetLife.
Considering the probable number of policies between the two carriers in CT, vs. the costs of litigating with the CT AG and finally succumbing to his blackmail to get regulatory approval to merge, I wonder if the numbers wouldn’t justify just pulling out of CT right now, obviating the need for approval at all.
Even though the people who work in the administrative side value “job security”, they now can enter the sales side of the company. Chances are good that there are openings…
The merger also brings all the Primerica people into the fold; that should add to the total number of employees.
Aside from our AG’s propensity to inject himself in any headline grabbing turn of events, I cannot for the life of me figure out why Metlife is so willing to swallow this dog that they would sell the Pan Am Building over Grand Central Station, and their Landmark One Madison Avenue Headquarters, once the tallest building in the world, and of which they have owned since the turn of the 20th century. That for decades was highlighted on the face page of their life insurance policies with the slogan “The Light That Never Fails”. The light is now rented real estate, just like the rest of american society – it is just an installment economy. No ownership society, only a live for today attitude. this flies in the face of the idea of long-range financial planning that I was taught as the foundation of financial security.