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How To Keep State Farm Afloat

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The Tampa Tribune

Published: February 2, 2009

State Farm has been charging some of the highest rates in Florida, but they would have us believe they are presently losing $20 million each month? How can they possibly be losing $20 million each month? From homeowner claims? No hurricanes! No earthquakes! No tsunamis! No Florida communities destroyed by raging wildfires!

Perhaps insurance premiums are consumed by excessive corporate overhead. Perhaps they should closely exam their executive compensation packages and bonuses for some possible cost savings. Or maybe get rid of a few of their corporate aircraft. Perhaps cancel a few corporate golf outings or other "fun" events held for the hundreds of privileged executives on their payroll.

After all, their insured clients are being forced to conserve spending. Why shouldn't State Farm do the same?

JOSEPH MARTENS

Tampa

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