“In some respects, Palmer & Cay was too good to be true-a great place to work with snowballing success. Good leadership, talented personnel, personal freedom, and generous compensation contributed to the overall success of The Ship. This is a story not of evil wrongdoing, but of runaway egos, greed, and the lack of entrepreneurial skill or knowledge to lead the company forward. Those egos were willing to bet everything on an unproven scheme and ride The Ship to the bottom, if allowed.”
For years, Palmer & Cay, a small but highly successful commercial insurance-brokerage firm, was a name synonymous with unbeatable talent, honest work, and a soaring drive to exceed all expectations. Everyone-employees, customers, and peers alike-wanted to climb aboard “The Ship” and be a part of the ride to success. Things could not have been looking better, until in 2003, when a sudden and unexpected change in management took a turn for the worse, and piece by piece dismantled everything that the 135-year-old company stood for.
“Scuttled: The Sinking of the Palmer Cay” tells the full story from the perspective of insider Ron Collins, former senior vice president of Palmer & Cay’s flagship department, and evaluates the roots of the poor decision-making that would eventually devastate other companies across the nation. From start to finish, Collins provides acute and heartfelt insight into what businesses need to succeed, and what will ultimately make them sink.
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Must read for insurance agency folks
There were so many things about Ron’s book that resonated with me. For anyone that is in an insurance agent some of the topics will be familiar. Check it out.