Another Post-Katrina Rant...sorry folks
Okay, I know everyone’s tired of people talking about Hurricane Katrina and the ongoing clean-up. Heck, I’m tired of it myself and want to get back to as close to normal as possible, but I heard some news today that really got the ole blood to boiling. It seems State Farm’s CEO got an 82% pay raise!!!
Now I’m not against anyone getting a pay raise if they earn it. Tell you the truth I’d like one myself. But this is the CEO of a company who recently looked into the faces of 8 to 12 hundred people whose homes were reduced to slabs and told them that they didn’t qualify for funds to rebuild because they weren’t sure if it was wind or water damage. Now I ask you kind folks to look at the photos below and tell me does it even matter? It was a category 5 hurricane for Pete’s sake!
Wind or water damage? Hummmmmmmmmm……..
Yep…this used to be someone’s home.
Here’s a little snippet of a full article in The Vicksburg Post:
03/06/07] State Farm Insurance's leader received an 82 percent raise after the company posted a record profit last year, a statement from the insurer said Monday.
The increase comes less than a month after the insurance giant said it would suspend writing new homeowners and commercial insurance policies in the state.
Chairman and Chief Executive Officer Ed Rust Jr. got a $5.26 million raise. He received $11.66 million in 2006 with a base salary of $1.77 million and results-based bonus of $9.89 million, said the statement from the Bloomington, Ind., office. Rust made $6.4 million in 2005 and $5.5 million in 2004.
(For the complete article, go to http://www.vicksburgpost.com/articles/2007/03/06/news/news02.txt)
Now I have my home and my car insured with State Farm, mostly because my parents dealt with this company as far back as I remember and when I grew up I just went there. But Friday, when I went to pay my car insurance I was struck with the irony that the office had moved to its brand spanking new building, all pretty and shiny, a countless less than an hour’s drive still have slabs where their homes once stood and this fine company refused help. And I know, State Farm isn’t the only culprit here but they were mostly in the news here.
First, when they refused to honor the policies that residents paid faithfully for years,
Second when they claimed that they weren’t going to write new policies in Mississippi
And then I see on the news where they agreed to reopen 8-12 thousand Slab Cases No doubt after all the bad press and lawsuits.
I’m just plain ticked off at these suits who came down here, taking money from good, hardworking people who paid their policies in good faith, believing that if something happened they would be covered. And when a category 5 hurricane targets you with a storm surge that reaches 5 miles inland there’s not much hope for anything to be left behind, and that was indeed the case.
I’ll end with a fantastic video that shows not only the damage of the Mississippi Gulf coast, but reflects the resilient spirit of our people here.
Hurricane Katrina Tribute
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Now I’m not against anyone getting a pay raise if they earn it. Tell you the truth I’d like one myself. But this is the CEO of a company who recently looked into the faces of 8 to 12 hundred people whose homes were reduced to slabs and told them that they didn’t qualify for funds to rebuild because they weren’t sure if it was wind or water damage. Now I ask you kind folks to look at the photos below and tell me does it even matter? It was a category 5 hurricane for Pete’s sake!
Wind or water damage? Hummmmmmmmmm……..
Yep…this used to be someone’s home.
Here’s a little snippet of a full article in The Vicksburg Post:
03/06/07] State Farm Insurance's leader received an 82 percent raise after the company posted a record profit last year, a statement from the insurer said Monday.
The increase comes less than a month after the insurance giant said it would suspend writing new homeowners and commercial insurance policies in the state.
Chairman and Chief Executive Officer Ed Rust Jr. got a $5.26 million raise. He received $11.66 million in 2006 with a base salary of $1.77 million and results-based bonus of $9.89 million, said the statement from the Bloomington, Ind., office. Rust made $6.4 million in 2005 and $5.5 million in 2004.
(For the complete article, go to http://www.vicksburgpost.com/articles/2007/03/06/news/news02.txt)
Now I have my home and my car insured with State Farm, mostly because my parents dealt with this company as far back as I remember and when I grew up I just went there. But Friday, when I went to pay my car insurance I was struck with the irony that the office had moved to its brand spanking new building, all pretty and shiny, a countless less than an hour’s drive still have slabs where their homes once stood and this fine company refused help. And I know, State Farm isn’t the only culprit here but they were mostly in the news here.
First, when they refused to honor the policies that residents paid faithfully for years,
Second when they claimed that they weren’t going to write new policies in Mississippi
And then I see on the news where they agreed to reopen 8-12 thousand Slab Cases No doubt after all the bad press and lawsuits.
I’m just plain ticked off at these suits who came down here, taking money from good, hardworking people who paid their policies in good faith, believing that if something happened they would be covered. And when a category 5 hurricane targets you with a storm surge that reaches 5 miles inland there’s not much hope for anything to be left behind, and that was indeed the case.
I’ll end with a fantastic video that shows not only the damage of the Mississippi Gulf coast, but reflects the resilient spirit of our people here.
Hurricane Katrina Tribute
Add to My Profile | More Videos
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