The Big “S” Sold
This isn’t housing news. But, it’ll likely impact employment in Seattle, so who knows. Locally-based Safeco Insurance is being sold to Liberty Mutual for $6 billion. As a former Safeco employee, I have to say this was expected with the sale of its long-time headquarters in the U-District and the campus in Redmond, significant reduction in staffing and poor performance results for most of the decade.
According to an AP report, Safeco shares shot up $21.02, or more than 46 percent, to $66.25, in morning trading on Wednesday. Dang, I sold my remaining Safeco shares two weeks ago!
