Friday, October 31, 2008

A Modest Proposal
By Michael Moynihan.

As the U.S. auto companies frantically search for ways to stave off bankruptcy, an interesting bit of news surfaced yesterday: Exxon Mobil's profit in the last quarter was the highest of any company ever in history, $14.83 billion. The company is on track to make $50 billion or so this year.

To put this in perspective, GM is currently seeking about $10 billion from the government to enable it to merge with Chrysler, which GM says is vital to its survival. What used to be the world's largest automaker is selling almost one million fewer cars than several years ago. GM is also seeking to draw down a $25 billion loan from the government designed to let it retool for more fuel efficient cars to help it weather the crisis.

Read it all. I like the idea. it is not going to happen but I like it none the less.

1 comment:

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