Friday, May 11, 2012
Liberty Mutual is really Liberty Executive
Brian McGrory acknowledges that he's written a lot about Liberty Mutual lately. We've seen that Liberty's executives are really men of the 1%. One would think that the facts revealed in that posting were bad enough. But McGrory has more to say. The more is the cost of a new executive office for the new CEO, David Long. The 1,335 square foot office suite cost $4,513,415, which works out to $3,370 per square foot. This cost was incurred in the fall of last year. Next year Liberty is moving into a new office building with executive offices appropriate to their occupants' status. So, that's a cost of roughly $6,200 per day (for a 365-day year, not the 250 days of a work year. The 'Mutual' in the company's name is supposed to mean that the policyholders own the company. That is not the case with Liberty Mutual.
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