My pleasure, friend
I raised my Jeep and put on new AT 34” tires JUST for these occasions. When I have to get somewhere I don’t want to slow down for speed bumps…
Welcome Thomas to the Fold
Pay no attention to your Flagged First Post (or FFP!)
Seems like it a rite of passage on this Forum lately.
Do not be discouraged, they assured me they (USCCA)
had AI working on the ‘Bot’ that was in charge of the
'Automated Program that oversaw the AI…?
If not use Enzo’s New (34" Tires to get the job done!)
Where’s Lt. Col Kilgore when we need him? For those who don’t remember, his famous quote was “I love the smell of napalm in the morning.” Evening will also work.
I called you an illustrious member. That’ll be 20 bucks to the Ryan182 go fund me account or I take it back.
Sorry Dude, for an unasked for compliment you get an
‘Atta-Boy ’ but I appreciate the thought Bruh!
Well that didn’t take long
The speed at which that happened does surprise me, a bit.
That said, the requested rate increase would be specific to California so the impact shouldn’t be felt beyond California’s borders. Good news for everyone outside of CA, not so much for those residing there.
CA, if it continues to be run as it has been, will soon find themselves without much in the way of insurance competition and may find themselves in a situation where the options are a state-funded insurance plan or extremely high premiums. They’ve been on that trajectory for quite some time.
The beauty of capitalism is, it creates competetion.
If state farm goes out of business in California, some business will fill the vacuum, unless California makes it even more difficult to do business there, then the people of California continue to get what they voted for. California State Farm placed bad bets and lost.
the Govnr keeps creating situations where the insurance companies are projected to lose money
A governor that runs a state with rolling blackouts is forcing his peasants to go 100% electric is the devil
It’s actually not that uncommon for fire/casualty insurers to more or less break even, if not lose money, in claims, especially during years of high claim losses. That money is made from their other lines, auto insurance being the largest contributor to the claim expense fund.
They’re already angling for a bailout. They’ll fill their pockets first.
They’ll probably still get their bailout from the corrupt government, paid by the taxpayers, with a kickback for getting them the bailout.
Business as usual.
Hey, that hair gel ain’t cheap!
Don’t forget get about his ‘shimmy’
The Wall Street playbook would call for them to take out long term loans to meet their immediate obligations. They are in a weakened position so the banks who will lend them the money will not be kind with their interest rates. The banks aren’t overly concerned because it’s not real money, its numbers on a screen. The board of directors will reward themselves with huge bonuses to prove their cleverness at saving the day. It’s a long game. The lower they sink, the more they borrow until all they can afford to pay is interest. On the brink of insolvency, the directors will stop paying the bank, dump the rest of their shares, give themselves one last bonus, stop paying their employees and lock the doors.
You’d think it would be the end of it but it’s not. They have an ace up their sleeve. It’s the final solution, they go see the Congress. Government steps in. The politicians have been pocketing their share of that money stream all along and now they’ve squeezed the lemon dry. It’s time for the grand finale. It’ll be on the backs of the taxpayers. They’ll be hoodwinked into bailing them out because, well, you just can’t abandon people and you can’t allow the house of cards to collapse and blah blah blah, so they pull out that ace of spades and there it is…
THEY ARE TOO BIG TO FAIL!
You sound pretty cynical. Around here we call that a conspiracy theory, and almost all of the time, they’re legit.
I’m not cynical, I’m a grumpy old man