The Wages of Overproduction

DMS dmschanoes at earthlink.net
Fri Jul 18 07:51:05 MDT 2003


>From today's FT (hard copy):

"GM Mortgages more profitable than car sales:

General Motors earned three times as much from selling
mortgages as from  cars in the second quarter as the US
price war and weak demand almost wiped out proits....


...net income dropped more than a third to $879m. Almost
all of that from lending...."



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