Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: reaper who wrote (235517)	4/15/2003 2:34:58 PM
From: Perspective	of 436258

Didn't the (lying bastards at the) gubmint just tell us that deflation had been called off? They said vehicle prices were rising, no? Who to trust, who to trust... Oh, and does it really surprise anybody that they made up for weakness in their business by strength in imaginary profits at the finance arm? 12:17PM General Motors releases suprising earnings data (GM) 35.32 -0.80: -- Update -- Deutsche believes that the most striking element of GM's qtr is the magnitude of underperformance in co's auto biz, which was offset by significant outperformance in the finance biz. N. American performance achieved net income of just $548 mln vs firm's est of $671 mln. The deterioration came despite GM producing more units than expected, and was largely attributable to a shocking 3.2% decline in price -- the worst yr/yr deterioration in recent memory. Results were lifted by surprising strength at GMAC (reported earnings of $699 mln vs firm's est of $393 mln). Notes that the $461 mln gain on mortgage servicing rights is surprising, particularly b/c many financial institutions are recording charges to MSRs/

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