Safeco has been a Seattle corporate icon since… well… almost since Seattle has had corporate icons. But no more:
Liberty Mutual will buy Safeco for $6.12 billion in a deal to create the country’s fifth-biggest property insurer. […] Both boards have approved the deal, and the sale is expected to close by the end of the third quarter pending shareholder and regulatory approval.
Of course, the companies don’t mention it in their press release, but no doubt there will be substantial job losses at Safeco’s former headquarters after the firms consolidate their operations. But you know, if wealthy board members can get even wealthier selling out, even at the expense of their loyal employees and the local community that has supported the company for 85 years, well, that’s capitalism.
So… how does “Liberty Mutual Field” roll off your lips?