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Originally Posted by BigAls87Z28
That was 2005, the peak of "profit" from subprime morgages....
Poor poor poor sample.
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Ok, well where are the top industries now as far as the profitability goes? And the better question, I think, has the automotive sector become more profitable than 1.1 cents of a dollar?
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Comparing profit margins of someone who makes a profit making a product vs someone who sells a service are TOTALY different.
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Profit is profit, I care about money.
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GM automotive has not been profitable for a while, its GMAC that kept them afloat, yes.
The current management didnt take control till 2003, and reorganization didnt start till 2005.
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So wait, before you were saying that this recent Big 3 "crysis" has been due to the financial sector crap-out. Well what happened the other 7.5 years? The business has been failing for 8 years and now they want our money to keep themselves aflot? What is gonna change when they get their money (I do not doubt that they will get it)? Will they turn profit next year? No. Year after that? probably not, WHEN?? Kepping a business that has been in a slump for nearly a decade is...well poor business practice, but we have been over this part.
Oh didn't you say that it was going to cost us "only" 25 billion? What happened to that "factoid"? it's up to 34 now, How much more will they need after they WASTE 34 billion?