Posted on 08/14/2009 2:39:05 PM PDT by xmission
My Message to Geico, and their answer.
I learned yesterday afternoon that Geico had succumbed to lefty pressure, and pulled their advertising from Glenn Beck's show. I decided to email them and tell them that I would be pulling my insurance from their show if they did this.
My Message to Geico:
>General Category: Other > Specific Category: Other > State: NH > > Comments: I read that Geico has pulled their advertising from the Glenn > Beck show due to pressure from a radical leftist group. > > We currently use Geico for all of our car and recreational vehicle > insurance. If this is true, I will be moving all of my insurance to > another company. > > I will also be telling all of my friends, and forwarding this message by > email to everyone that I know. > > I think you should quickly reconsider.
Dear XXXX:
Thank you for contacting GEICO.
Thank you, first of all for your business and also for your interest in this matter.
This week we took action to move our marketing messages from the Glenn Beck show and you are wondering why.
Well you deserve an answer.
If the inflammatory nature of the comments on a program overshadows our message and causes GEICO to be drawn into a national debate, we are likely to reconsider where we place our marketing messages, which is what we did.
GEICO delivers very important messages through its major marketing campaigns: we’re saving customers’ dollars, we’re easy to do business with, we’re looking out for our policyholders. That’s what we hope the public hears and sees and focuses on.
As a company, we do not take positions on controversial issues.
As an advertiser, while a national debate on issues can be healthy and appropriate, we don’t see ourselves in the role of taking part in those debates.
Our business is auto insurance. We want to bring people value and we attempt to reach large audiences with that message.
It is of little benefit to us if a program gets so much attention that our message is drowned out.
GEICO Corporate Communications
They don't take positions on controversial issues?
They took a position by withdrawing. I encourage you to withdraw also.
What did you expect from the Government Employees’ Insurance Company (GEICO)?
Warren Buffet’s first flirtation with GEICO took place in 1943 as a fledgling investment consultant. Roger Lowenstein tells an anecdote about this in his book Buffett: The Making of an American Capitalist.
Apparently, Buffett, knowing of the involvement of Graham, his mentor, with GEICO, decided to look it over. He visited the company’s offices only to find them closed. The nightwatchman told him that there was someone still working there, late, and agreed to take Buffett in to meet him. The late worker turned out to be Lorimar Davidson, who was to end up running the company.
Buffett interrogated Davidson for several hours, and each man made a good impression on the other. Because of these discussions, Buffett’s investment partnership took a small holding in GEICO, which it eventually sold down.
By 1974, the company was not travelling well. The government had brought in no-liability insurance in some areas, the company had extended its clientele to higher risk categories, and there had been inadequate provision for future claims.
In 1976, it announced a loss of 126 million dollars and the company’s shares, which had traded as high as $42, were down to just under $5. The 1976 Annual General Meeting was a near riot with angry shareholders challenging management. By then, the shares were down to about $2.
There was then a change in company management with J J Byrnes taking over the key role. Byrnes made drastic changes, cancelling high-risk policies, laying off staff and moving office. Despite these changes, the regulatory authorities were hovering over the company’s near carcass.
Buffett had always kept his eye on the company and took the view that despite its problems, the company’s core business was sound.
The company’s premiums also attracted Buffett. Insurance companies receive premiums against the possibility that they may have to pay out claims in the future. Provided the company follows sound actuarial practices and makes adequate provision for claims, this gives it large amounts of cash to invest in profit making ventures. This is what Buffett calls the ‘float’. He saw this as an opportunity to provide cash resources to buy businesses and invest in shares.
Through Katherine Graham, the proprietor of the Washington Post, Buffett arranged to meet with Byrnes and was apparently impressed enough to buy, via Berkshire Hathaway, 500,000 shares in the company with a standing order to buy more........
I got the exact same reply from GEICO.
I informed them that they’ve lost me and millions of Beck supporters, because we watch to get balanced news rather than just CNN or MSNBC.
Anyways I said “With all due respect your little geico is a coward, sir.”
I suggest more write as I got the same reply immediately.
Good one.
:-)
Or any number of shows on MSNBCommunits
They better take a hard long look at the Obama administration. What makes them think it will only be health insurance the government takes over? After all doesn’t the government now run the new joke of car companies GM?
I would say good bye profits.
killer post!
You should send that exact message to them LOL!
I guess they will attract more business on Keith Olberman’s program. MSNBC and CNN seem to have the LARGE NUMBERS /exaggeration type off: to attrack all that business. NOT!!!
I will cancel them with orange marmalade (sorry, I know that was lame-political shenanigans are making me silly)
LOL! I have to hand it to GEICO though. They do make clever ads.
I’ve been treated VERY well by State Farm over the years...
It must cost a lot to advertise on such a high-ranking cable show. Perhaps it’s not the risk they’re worried about, but maybe they just can’t afford to pay the price for advertising on such a high-caliber show?
I avoided GEICO in the 90s because they would buy radar guns for cops. Now this is a sneaky way to build a nice feedback loop where their radar guns nailed their own customers driving up insurance rates.
I don’t know if they still do it, but it made me aware of the character of the company.
And the cavemen and geckos are lame.
Check.
If they don’t take on controversial issues, why would they advertise on a political show in the first place?
GEICO is stupid for doing this. It has been my experience in the insurance industry that conservatives tend to have the better driving records over all. GEICO caters to standard drivers, not sub-standard or non-standard drivers.
Why the hell would you support GEICO anyway? They are well known for handing out free radar guns to police departments and denying claims if they find you had a radar detector installed at the time of the accident.
USAA doesn’t advertise in the mainstream media. They only cover military officers and NCOs and dependents.
I just sent an email around. I hope this takes off.
We can’t let the asswipes take us down.
Or MSNBC!
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