This Is What Happens When A Private Owner Sells Out
Pros
The great things about this place left when David Biaconi, the man who built the company from the ground up, decided to sell out and hand the baton to StoneRiver. There is nothing good at Progressive now unless you are just looking for a paycheck and are about to be evicted.
Cons
When Progressive was sold to StoneRiver we went from bottled to toilet water. StoneRiver, having a nearly unchallenged place in their specific market, confused their near-monopolistic success with knowing how to run a business. Nearly every senior management position is occupied by the new owners; new positions were even created just to set up StoneRiver managers to be above those at Progressive. If you buy a successful business maybe your goal shouldn't be to replace everyone running the place. The friends & family atmosphere that previously existed has been replaced with "you should consider yourself lucky to work here". The co-ceo's, Tommy Young and Emry Sisson express nothing but contempt for both the current employees and past culture and values that once made Progressive a great place to work. Employer 401k contributions are a joke, health care costs, always controlled under old management, continue to go up, vacation benefits have been changed, monthly/quarterly/yearly bonuses are all gone, and no increases in pay unless you are labeled an 'exceptional performer', which of course is a title earned by butt kissing. "Did the company make more money last year? Than why am I not?" If you work as a salaried employee, plan on working far past your 40, because for every 2 people that resign (aka realize StoneRiver is full of awful people) only 1 person is hired. If you are an hourly employee, enjoy the pay for performance; it will add incredible amounts of stress to your life. Stay away. This place, once an amazing tribute to "I *DID* build this", has degenerated into a cash cow for the owners and they will do the absolute minimum for their employees to keep the doors open.
