I asked Paula Reynolds that very question last September. In addition to the repurchase of shares, Safeco has started unloading real estate they own… The Redmond property went to Microsoft and Safeco Tower in downtown Seattle went to the University of Washington.
She had a good explaination… it is more cost effective to rent new (modern) space than to pay zillions to upgrade all the different properties. Sure looks like they are positioning to be sold, though. I was told straight to my face…NO!
Would appear that Safeco and Buffet may be striking a deal???
IS THERE TALK ON THE STREET THAT SAEFCO IS FOR SALE?
THANKS
I asked Paula Reynolds that very question last September. In addition to the repurchase of shares, Safeco has started unloading real estate they own… The Redmond property went to Microsoft and Safeco Tower in downtown Seattle went to the University of Washington.
She had a good explaination… it is more cost effective to rent new (modern) space than to pay zillions to upgrade all the different properties. Sure looks like they are positioning to be sold, though. I was told straight to my face…NO!