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Author Archives: russ banham

Russ Banham (russ@russbanham.com) is a contributing writer to Chief Executive

Tireless in Seattle

Two years ago, 80-year-old Safeco Insurance Co. came dangerously close to shutting its doors for good. Earnings had plunged to just 9 cents per share, and the stock price had fallen to $22 from a 1998 peak of $56. Management decisions by its former chief, including a misguided acquisition and ventures into non-core businesses, conspired with an antiquated underwriting process ...

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