Friday, July 22, 2011

The Rich Get Richer

Amazing how much money you can make when you don't pay any taxes.
General Electric reported a 21.6 percent rise in profit, topping estimates, boosted by strong demand outside the United States for its heavy equipment including jet engines and electric turbines.

The largest U.S. conglomerate, whose shares were up 2.3 percent in premarket trading, said Friday second-quarter profit attributable to common shareholders came to $3.69 billion, or 35 cents per share, compared with $3.03 billion, or 28 cents per share, a year earlier.

Factoring out one-time items, profit was 34 cents per share.

On that basis, analysts had looked for profit of 32 cents per share, according to Thomson Reuters I/B/E/S.
Just imagine the reaction if a company that didn't suck up to Obama 24/7 actually made a profit.

1 comment:

southernsue said...

thanks obama.