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GEICO closes all California offices, lays off workers: report

Discussion in 'Current Events' started by doombug, Aug 2, 2022.

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  1. doombug

    doombug Well-Known Member

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    doombug, Aug 2, 2022
    #1
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  2. cd8ed

    cd8ed Well-Known Member Past Donor

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    We switched to an online only bank for some of our savings accounts and an insurance company for our rentals for a huge cost savings.

    If companies can save money on buildings (which saves on utilities, payroll, maintenance, taxes) and can pass those savings onto their customers they will beat out their competition.

    I think this will start being the new trend especially for industry that doesn’t need to ever deal with customers face to face.
     
    cd8ed, Aug 2, 2022
    #2
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  3. Daniel Light

    Daniel Light Well-Known Member

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    Had nothing to do with recent economy - companies have been shutting down brick and mortar offices for well over a decade.
    Try again.
     
    Daniel Light, Aug 2, 2022
    #3
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  4. Melb_muser

    Melb_muser Well-Known Member Donor

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    I don't know this company, but many must crash and burn. Not just in the US.

    Too much easy money has been propping up the Deadwood.
     
    Melb_muser, Aug 2, 2022
    #4
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  5. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Last edited: Aug 2, 2022
    kazenatsu, Aug 2, 2022
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  6. HereWeGoAgain

    HereWeGoAgain Banned

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    Apparently they haven't heard about that.

    Won't they be surprised when they go to the blacksmith's!
     
    Last edited: Aug 2, 2022
    HereWeGoAgain, Aug 2, 2022
    #6
  7. crank

    crank Well-Known Member

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    In both business, and the citizenry.
     
    crank, Aug 2, 2022
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  8. HereWeGoAgain

    HereWeGoAgain Banned

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    It prevented total calamity. It was a small price to pay in comparison.
     
    Last edited: Aug 2, 2022
    HereWeGoAgain, Aug 2, 2022
    #8
  9. cd8ed

    cd8ed Well-Known Member Past Donor

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    Except they didn’t exit the market — they will keep existing policies and will allow new policies but only through their website.

    Major cuts to operational costs with no loss in market share
     
    cd8ed, Aug 3, 2022
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  10. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Could have something to do with high costs of rent and high costs of living.
     
    kazenatsu, Aug 3, 2022
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  11. Irrational thinker

    Irrational thinker Well-Known Member

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    Can you blame them. AIG already abandoned CA homeowner's insurance market end of January this year.
     
    Irrational thinker, Aug 3, 2022
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  12. omni

    omni Well-Known Member

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    What does a case in Missouri have to do with California?
     
    omni, Aug 3, 2022
    #12
  13. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    California is a much worse environment than Missouri.
     
    kazenatsu, Aug 3, 2022
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  14. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    The economy is bad and getting worse, absolutely.

    But this in particular seems more likely a CA problem than an economy problem, else GEICO would've spread the downsizing around the nation instead of just there.
     
    Last edited: Aug 3, 2022
    modernpaladin, Aug 3, 2022
    #14
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  15. omni

    omni Well-Known Member

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    Is this opinion or fact? Is there a case similar where California allowed Geico to be sued for an STD?
     
    omni, Aug 3, 2022
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  16. Melb_muser

    Melb_muser Well-Known Member Donor

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    I was talking about business.
    At the time, agreed. But moving forward I think businesses need to be robust enough to survive market fluctuations.
     
    Melb_muser, Aug 3, 2022
    #16
  17. doombug

    doombug Well-Known Member

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    A bad economy ALWAYS pushes this kind of innovation. Sorry but your hero Biden is a disaster.
     
    doombug, Aug 3, 2022
    #17
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  18. TCassa89

    TCassa89 Well-Known Member

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    Job loses?

    We haven't had a month of job loses since December of 2020. The economy is in recession because we've experienced our second consecutive quarter of GDP loses, which is the common standard of what economists consider to be a recession. It's definitely not a matter of lost jobs, unemployment is at 3% and our most recent monthly jobs reports showed a job surplus of over 370,000 and when the report for July comes in we're expecting a job surplus somewhere in the 200,000s

    It's GDP loses that are the current economic hurdle, not job loses
     
    TCassa89, Aug 3, 2022
    #18
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  19. Oldyoungin

    Oldyoungin Well-Known Member

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    :roflol:
     
    Oldyoungin, Aug 3, 2022
    #19
  20. WalterSobchak

    WalterSobchak Well-Known Member

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    You don't get it. Rightists desperately want our economy to be like it was in 2008 during Bush's giant crash.
     
    WalterSobchak, Aug 3, 2022
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  21. doombug

    doombug Well-Known Member

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    Meh, we all know the government cooks the numbers to look favorable. Inflation is much worse than they say and so in unemployment.

    Check the OP. Are you saying those folks did not lose their jobs?
     
    doombug, Aug 3, 2022
    #21
  22. Irrational thinker

    Irrational thinker Well-Known Member

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    We haven't gained a single job since the lockdown.
     
    Irrational thinker, Aug 3, 2022
    #22
  23. Eleuthera

    Eleuthera Well-Known Member Donor

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    GEICO is the acronym for Government Employees Insurance Company. It's been around for years. Here in the US they have many really cute ads with a Gekko speaking with a British accent. Funny as hell IMO.
     
    Eleuthera, Aug 3, 2022
    #23
  24. Eleuthera

    Eleuthera Well-Known Member Donor

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    GEICO is the acronym for Government Employees Insurance Company. It's been around for years. Here in the US they have many really cute ads with a Gekko speaking with a British accent. Funny as hell IMO.
     
    Eleuthera, Aug 3, 2022
    #24
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  25. Arkanis

    Arkanis Well-Known Member

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    The unemployment rate is 3.6%.

    This is one of the lowest rates in the world.
     
    Arkanis, Aug 3, 2022
    #25
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