Our capital city of Trenton is a marvelous place for coincidence. It wasnt too long ago that we saw our New Jersey Banking & Insurance Commissioner posing with a green gecko, Warren Buffett, and other top dogs from GEICO. Recently, that same commissioner, Holly Bakke, was hired by GEICOs main man, Warren Buffett.

Bakke has accepted a job with General Reinsurance Corporation, a Buffett-owned firm. I am not sure of her position, but I can almost bet you that she wont be the one wearing the green gecko costume.

Less than two years ago, GEICO entered the New Jersey auto insurance marketplace. At that time a press conference was scheduled with the Commissioner and Warren Buffett. In a press release, Bakke stated, The introduction of GEICO is proof positive that we are accomplishing our goals.

Cut Red Tape

Last year, Bakke resigned as commissioner. About that same time, Buffett praised Bakke in his annual shareholder report for cutting red tape and bringing GEICO back to New Jersey. Slightly over a year later, Buffett employed Bakke.

According to the Star Ledger, Bakke ad-vised, I have been out of my commissioner position for over a year and took great pains to guard against any potential conflicts.

And I do not doubt that Bakke has abided by all state ethic laws. As you may know, New Jersey enjoys a national reputation for public official ethics.

GEICO Does Well

GEICO now insures over 475,000 cars in New Jersey, which places it in the top five New Jersey auto insurers. A recent NJDOBI insurer complaint chart ranked GEICO as number 24 on that list. Thats pretty darn amazing. Usually, a growing car insurer will generate a high complaint ratio, but in this case GEICOs complaints are among the lowest.

Look at GEICOs fast growth and low complaints. Obviously, Warren Buffett is some smart fellow. Bakke is no dummy, and her employment will only contribute to Buffets vast empire. In addition, GEICO uses Eric Schuffler as a spokes-person. Up until this year Eric was one of the most powerful fellows in the Governors office.

Yes, Trenton is truly an amazing place for coincidence!