Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: H James Morris who wrote (128972)	7/24/2001 4:58:21 PM
From: craig crawford	Respond to of 164684

Wednesday July 18, 8:42 am Eastern Time Safeco to cut 1,200 jobs by end of 2003 biz.yahoo.com SEATTLE, July 18 (Reuters) - Safeco Corp. (NasdaqNM:SAFC - news) on Wednesday said it would cut 1,200 jobs, or 10 percent of its staff, by the end of 2003 as the car, home and business insurer reduces costs in an attempt to boost flagging profits. The jobs cuts are the first major initiative by new Chief Executive Mike McGavick, who came to Seattle-based Safeco from rival CNA Financial Corp. (NYSE:CNA - news) in January to turn the company around. Safeco, which has reported lackluster profits over the past few years as a result of lower premiums and rising claim costs, also said it would reorganize its main property casualty insurance operations, giving responsibility for making a profit to Michael LaRocco, the newly appointed chief operating officer of personal insurance lines, and Dale Lauer, chief operating officer of business insurance. The firm said it would cut 600 jobs this year, including 250 cut at corporate headquarters in Seattle. It said the other 600 jobs would be cut by the end of 2003. Safeco said the job cuts and reorganization would reduce annual operating expenses by about $100 million. It said associated restructuring charges would be $60 million up to the end of 2003, including a pretax charge against earnings in the third quarter this year of about $40 million, or 20 cents per share after taxes.

To: H James Morris who wrote (128972)	7/24/2001 5:05:12 PM
From: craig crawford	Read Replies (1) \| Respond to of 164684

tick tock...tick tock...tick tock... Message 16122264

To: H James Morris who wrote (128972)	7/24/2001 5:22:22 PM
From: craig crawford	Respond to of 164684

tick...tick...tick...tick...tick...tick...tick biz.yahoo.com BOOM!

To: H James Morris who wrote (128972)	7/24/2001 11:17:07 PM
From: Victor Lazlo	Read Replies (1) \| Respond to of 164684

Mark is still in AMZN, and he's still in CHK, the foolish crackpot! CHK has lost 35% of its value since last December when Mark Fowler told me I sold too soon ! CHK problems mainly are massive insider selling. Massive. HUGE. Just like EBAY, and just like Corvis. Massive insider selling. Mark trusts the insiders waaaaaaaaaaay, waaaaaaaaaaaaay, waaaaaaaaaaaay too much- he thinks they are as good-hearted and as niave as he is. And he keeps paying for it. Victor