Monday, March 12, 2007
Scuzzbuckets of the week
State farm CEO gets 82% raise after posting "a record profit" in 2006.
Chairman and Chief Executive Officer Ed Rust Jr. earned $11.66 million in 2006, including a base salary of $1.77 million and results-based bonus of $9.89 million, spokesman Dick Luedke said Friday. Rust made $6.4 million in 2005 and $5.5 million in 2004.
Call me what you want, but after seeing what insurance companies like State Farm have done to residents of the Gulf Coast after these people had experienced loss of everything makes me feel like spitting at them.
These bastards try every trick in the book to avoid paying claims after gladly taking premiums for decades. They decide to completely
stop offering coverage to whole swaths of land because of post-Katrina claims.
And they've been doing it for years.