Saturday, August 02, 2008

 

Exxon-- $11 billion 2d quarter profit; GM-- $15 billion 2d quarter loss


Crikeys. I'm trying to lay off General Motors while it dies of self-inflicted wounds, but I couldn't help but notice the $15 billion 2d-quarter loss. Wow. They lost about $2 billion (which is about a third of their market capitalization) just on SUV leases. Exxon's profit got all the headlines, but I think GM's results are more historically significant.

Comments:
General Motors dies
While our Bush applauds Exxon's obscene profits. Sick.
 
GM does seem to get that one day there might not be enough oil. It builds SUVs that get 12 mpg and cost $50k. Who the heck is buying these things???

I don't get it.
 
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