Small businesses are going under at an alarming rate. Where is their bailout?
Why does Hartford have any right to $3.4 billion of public funding?
Was it true that they would have been forced to sell an operating unit if they hadn’t received this money? If so, isn’t that an indication that they simply could not compete in the marketplace?
What tenet of capitalism states that it is wise to use public money to bouy uncompetitive firms?
What amazes me is we just let an insurance company buy a troubled bank and shazam then give them 3.4 billion. I sure would like to buy a bank myself and get 3.4 billion. What are our lawmakers thinking or not thinking with all this shennigans going on? I think everyone can answer this question but them! No wonder our country is in a financial mess with leaders like this!
Hartford gets help from Allianz and now TARP. What happened to this company. One thing for certain, whomever they hired as a personal lines product manager for California should be canned. Hartford has not been a viable product for years. They have a week marketing department and no clue what their competitors are doing or choose to stand still while they get their market share ripped off. Losers. Who wants to insure with a TARP insurer. This is a temporary fix folks….Hartford is tainted and starting to smell like AIG. Weak and a flight to quality will occur to Travelers, Nationwide Allied and a few other stronger companies
Isn’t it interested that Mr Wolin, former President and COO of Hartford Fin Srv, was voted in as as the new Deputy to the Treasurey and now the big bucks start rolling out to his former company.
Just another case of rewarding mismanagement!! Isn’t it time for another “tea party” or just go to the polls and vote these out of touch idiots out of office…all of them.
This is beyond out of hand and in the end will hurt us all, not just the poorly run companies. Isn’t it great everyone voted for change and how much change there has been from Bailout Bush to Pile it on Obama, its time for a real new CONSERVATIVE Party!!! Lets throw ALL of them out!
Yep, you really are spot on here. Mr Wolin only accepted the position on the condition that TARP would be created and that The Hartford would be on top of the list of recipients. Would love to hear more of your conspiracy theories!
As an agent for Hartford for over 30 years, I can honestly say that Hartford goes through ebbs and flows, but always is looking to promote other distribution systems ahead of their best system of marketing their products through independent agents.Fortunatly I write a lot more business through other carriers. They use us as independent agents, because they need the independent distribution system to survive, not because they want us. We use them because they have been a leading insurance company, but I have always disagreed with their business model. The independent insurance agents contribute far more than an internet or phone quote.Hartford was one of the first insurance companies to undercut the agents through their AARP Program, now they have come to realize that even that program is demanding agents. They still sell direct over the internet cutting out the agents, and when they advertise you won’t see much advertisement if any for the agents. Yes I too am tired of baiing out insurance companies who think of themselves first and foremost. I spell what Hartford has done and continues to do GREED.Buying a bsnk to cash in is, now instead of undercutting the agents, is now undercutting the American Taxpayers (their consumers).
According to Forbes Magazine Mr. Ayer had the distinction of being voted #3 Poorest Performing CEO’s. It sure tells you something; I’ve thought he was arrogant, horrible towards agents, and had a crappy buiness plan for the last 10+ years my agency has represented them.
There’s more than a FOX in there – this is a “Mustang Ranch” how much longer are we as a “people” and “industry” going to stand for this crap – at every turn, it seems, we got “poked”! Seems the greedier the more one gets – think about who is paying the TAB for all of these numnuts! I for one am SICK OF IT and their wayward ways!
When they are bankrupt, how can they buy a bank. They had no money. Hartford is always trying to screw the independent agent. We should all boycot them.
Most posts on this website make for a poor impression of our industry. Never saw so many “independent” agents cry that their problems are caused by something or someone else. Always being screwed, underpaid, unappreciated…..I would bet the founders of your agency had a different perspective.
And just an aside, I think the proper spelling of Numb Nuts is two words.
We are seeing the effects of the spread the wealth mindset from Barak Hussein Obama. Let these companies be beholden to the Federal Government. However Federal Government has not concern as to where the money comes from (we taxpayers), the really have showed they do not care, power is all that matters.
Now Congress and the President are talking about increasing taxes and/or taxing health benefits to incorporate their socialistic Universal Health Insurance. All the money being doled out with bailouts and TARP, now Obama mission is for government takeover of healthcare. You guessed it, taxpayers are going to foot the bill and pony up more dollars for yet another Federal Government Ponsai Scheme. The $3.4 billion Hartford got pales in comparison to what the healthcare tab will be.
Welcome to the United Socialist States of America.
well, we know that they are funding some of the government’s bailouts and other programs. it would not suprise me that it will ask to purchase our country! how many of you have heard about the chinese drywall issue? they have put other chemicals in the drywall causing all kinds of problems. matter of fact, in my area, they have passed a law that contractors are to certify that they don’t build any buildings with chinese drywall.
“”The thing that is interesting to me is that from a count perspective, if we look at approximately 3,000 companies in the property and casualty insurance industry, from the perspective of sheer count of companies, the overwhelming majority – probably north of 85 percent of the companies – are absolutely fine, and this meltdown in the equity markets, it really isn’t hurting them,” Petrelli said.”
so if 15% are failing, why not let them fall. why keep giving bailout money? this is getting ridiculous. how come us as a taxpayer are not speaking out to stop this trend? how much debt are we going to be in? we are allowing are kids to take on this debt – with no end in sight. no balance budget.
Well it’s an easy question to answer. Approximately one month ago Sec. of State Clinton delivered collateral to the Chinese Government. So if the U.S. were to default on their debt to the chinks they have the right to say a city or state of equal value to the debt owed.
Nice isn’t it.
My hat is off to the Hartford. While many of our major companies continue to flail away at their agents for falling GWP, this company is looking at the business much like the founder of Travelers did. Pay attention to where the country is going, and tag on to it not try to influence it for personal agrandizement.
Well Johnny O, maybe you and the other naive Kool-Aid drinkers should do some investigating of your own.
The United States has given collateral to China. If within the next 7 years the United STates defaults on their debt to China, afterall where do you think the Bailout money came from (the $3trillion of TARP money)? Oh but Obama is going to make everything right. Please, get your head out of the sand. But that’s ok label everyone you disagree with a neo-con or right wing extremist and live in la la land because Change and Hope is upon us. But go down to you local Community College and study Mandarin as a back up.
You cannot continue to print money at the levels the Federal Reserve is printing before something bursts. We just lived through the housing and financial markets. What happens when you must start paying back that debt? Hmm, did Karl Marx address that in his book? Another milktoast idiot with nothing to contribute except insults.
Geez Repubs – make up your minds! Is the TARP money coming from our hard-earned tax dollars or the Chinese? I’m PRETTY sure we aren’t going to be handing over parcels of our county to China if we find we can’t repay our debt. You can bash on the new prez all you like – the fact of the matter is that he’s trying new and different tacticts to clean up this country’s mess and they’re shown to be working. Something that CANNOT be said for politics as usual.
Small businesses are going under at an alarming rate. Where is their bailout?
Why does Hartford have any right to $3.4 billion of public funding?
Was it true that they would have been forced to sell an operating unit if they hadn’t received this money? If so, isn’t that an indication that they simply could not compete in the marketplace?
What tenet of capitalism states that it is wise to use public money to bouy uncompetitive firms?
What amazes me is we just let an insurance company buy a troubled bank and shazam then give them 3.4 billion. I sure would like to buy a bank myself and get 3.4 billion. What are our lawmakers thinking or not thinking with all this shennigans going on? I think everyone can answer this question but them! No wonder our country is in a financial mess with leaders like this!
Hartford gets help from Allianz and now TARP. What happened to this company. One thing for certain, whomever they hired as a personal lines product manager for California should be canned. Hartford has not been a viable product for years. They have a week marketing department and no clue what their competitors are doing or choose to stand still while they get their market share ripped off. Losers. Who wants to insure with a TARP insurer. This is a temporary fix folks….Hartford is tainted and starting to smell like AIG. Weak and a flight to quality will occur to Travelers, Nationwide Allied and a few other stronger companies
Isn’t it interested that Mr Wolin, former President and COO of Hartford Fin Srv, was voted in as as the new Deputy to the Treasurey and now the big bucks start rolling out to his former company.
Sounds like a fox in the hen house to me.
Just another case of rewarding mismanagement!! Isn’t it time for another “tea party” or just go to the polls and vote these out of touch idiots out of office…all of them.
So do we get a medal or something for saving all of these crappy institutions?
What if we all decided to stop paying taxes at the same time? Maybe then they would listen. Obama and the donkey clan need to go.
This is beyond out of hand and in the end will hurt us all, not just the poorly run companies. Isn’t it great everyone voted for change and how much change there has been from Bailout Bush to Pile it on Obama, its time for a real new CONSERVATIVE Party!!! Lets throw ALL of them out!
No kidding! Here we go again. Throwing our next generation’s money to another company that couldn’t run itself properly.
Shame, shame, shame.
??? does this mean, since i was not able to from this year income taxes; can i claim this (tarp) and aig bailout money on the loss column of my taxes?
Yep, you really are spot on here. Mr Wolin only accepted the position on the condition that TARP would be created and that The Hartford would be on top of the list of recipients. Would love to hear more of your conspiracy theories!
Hopefully this was an attempt at humor…
As an agent for Hartford for over 30 years, I can honestly say that Hartford goes through ebbs and flows, but always is looking to promote other distribution systems ahead of their best system of marketing their products through independent agents.Fortunatly I write a lot more business through other carriers. They use us as independent agents, because they need the independent distribution system to survive, not because they want us. We use them because they have been a leading insurance company, but I have always disagreed with their business model. The independent insurance agents contribute far more than an internet or phone quote.Hartford was one of the first insurance companies to undercut the agents through their AARP Program, now they have come to realize that even that program is demanding agents. They still sell direct over the internet cutting out the agents, and when they advertise you won’t see much advertisement if any for the agents. Yes I too am tired of baiing out insurance companies who think of themselves first and foremost. I spell what Hartford has done and continues to do GREED.Buying a bsnk to cash in is, now instead of undercutting the agents, is now undercutting the American Taxpayers (their consumers).
According to Forbes Magazine Mr. Ayer had the distinction of being voted #3 Poorest Performing CEO’s. It sure tells you something; I’ve thought he was arrogant, horrible towards agents, and had a crappy buiness plan for the last 10+ years my agency has represented them.
There’s more than a FOX in there – this is a “Mustang Ranch” how much longer are we as a “people” and “industry” going to stand for this crap – at every turn, it seems, we got “poked”! Seems the greedier the more one gets – think about who is paying the TAB for all of these numnuts! I for one am SICK OF IT and their wayward ways!
When they are bankrupt, how can they buy a bank. They had no money. Hartford is always trying to screw the independent agent. We should all boycot them.
Most posts on this website make for a poor impression of our industry. Never saw so many “independent” agents cry that their problems are caused by something or someone else. Always being screwed, underpaid, unappreciated…..I would bet the founders of your agency had a different perspective.
And just an aside, I think the proper spelling of Numb Nuts is two words.
We are seeing the effects of the spread the wealth mindset from Barak Hussein Obama. Let these companies be beholden to the Federal Government. However Federal Government has not concern as to where the money comes from (we taxpayers), the really have showed they do not care, power is all that matters.
Now Congress and the President are talking about increasing taxes and/or taxing health benefits to incorporate their socialistic Universal Health Insurance. All the money being doled out with bailouts and TARP, now Obama mission is for government takeover of healthcare. You guessed it, taxpayers are going to foot the bill and pony up more dollars for yet another Federal Government Ponsai Scheme. The $3.4 billion Hartford got pales in comparison to what the healthcare tab will be.
Welcome to the United Socialist States of America.
well, we know that they are funding some of the government’s bailouts and other programs. it would not suprise me that it will ask to purchase our country! how many of you have heard about the chinese drywall issue? they have put other chemicals in the drywall causing all kinds of problems. matter of fact, in my area, they have passed a law that contractors are to certify that they don’t build any buildings with chinese drywall.
First you control the banks than you go after the insurance companies
I think history is repeating it’s self again didn’t some do the same thing in the 1930s
What happens when china wants it’s money back will china than own our companies
according to another article:
“”The thing that is interesting to me is that from a count perspective, if we look at approximately 3,000 companies in the property and casualty insurance industry, from the perspective of sheer count of companies, the overwhelming majority – probably north of 85 percent of the companies – are absolutely fine, and this meltdown in the equity markets, it really isn’t hurting them,” Petrelli said.”
so if 15% are failing, why not let them fall. why keep giving bailout money? this is getting ridiculous. how come us as a taxpayer are not speaking out to stop this trend? how much debt are we going to be in? we are allowing are kids to take on this debt – with no end in sight. no balance budget.
Well it’s an easy question to answer. Approximately one month ago Sec. of State Clinton delivered collateral to the Chinese Government. So if the U.S. were to default on their debt to the chinks they have the right to say a city or state of equal value to the debt owed.
Nice isn’t it.
My hat is off to the Hartford. While many of our major companies continue to flail away at their agents for falling GWP, this company is looking at the business much like the founder of Travelers did. Pay attention to where the country is going, and tag on to it not try to influence it for personal agrandizement.
The difference is Travelers didn’t expect the public to foot the bill in order to do so.
As for ‘personal agrandizement’, you can bet that if Ayer didn’t get that deal done, he’d be out as CEO.
oh please TAR, you sound like a complete mindless idiot but then again so do most neocons.
Well Johnny O, maybe you and the other naive Kool-Aid drinkers should do some investigating of your own.
The United States has given collateral to China. If within the next 7 years the United STates defaults on their debt to China, afterall where do you think the Bailout money came from (the $3trillion of TARP money)? Oh but Obama is going to make everything right. Please, get your head out of the sand. But that’s ok label everyone you disagree with a neo-con or right wing extremist and live in la la land because Change and Hope is upon us. But go down to you local Community College and study Mandarin as a back up.
You cannot continue to print money at the levels the Federal Reserve is printing before something bursts. We just lived through the housing and financial markets. What happens when you must start paying back that debt? Hmm, did Karl Marx address that in his book? Another milktoast idiot with nothing to contribute except insults.
Geez Repubs – make up your minds! Is the TARP money coming from our hard-earned tax dollars or the Chinese? I’m PRETTY sure we aren’t going to be handing over parcels of our county to China if we find we can’t repay our debt. You can bash on the new prez all you like – the fact of the matter is that he’s trying new and different tacticts to clean up this country’s mess and they’re shown to be working. Something that CANNOT be said for politics as usual.