AFSCME 3357-HOF'S BLOG

Toyota's Profit up 34%
$13 Billion in Profit for the Quarter
GM's Quarterly Loss under $100 million

There's no question that Toyota is becoming the black hole for profit in the auto business. Toyota reported quarterly profits of $13 billion. If replicated over an entire year, toyota's yearly profit would be enough to buy up all the stock of Ford and General Motors, and more than account for the net worth of both companies. Toyota has such a gravitational pull that all the profit in the industry is getting sucked into its giant maw. Actually, that's an overstatement, because Nissan's profit was up 31%; however, with a sales increase of over 17%, Toyota is king of the hill.

Toyota's news overshadowed GM's news that its quarterly loss (as adjusted) fell below $100 million. I wonder though how much of Delphi's ongoing loss must, in the long run make it's way to GM's books. I understand that GM has made accounting adjustments to take into consideration losses atributable to Delphi, but still . . .