An obscure ZIM in Africa traded Down Under Message Board

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Gold/Mining/Energy : An obscure ZIM in Africa traded Down Under

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To: ild who wrote (808)	5/3/2003 8:20:18 PM
From: TobagoJack	Read Replies (2) of 867

Hi ild, I believe GM finance accounts for the majority of GM bottom line profit because they are packaging the debt and selling off same on the big bond market in the sky. I may be wrong about this, but if not, and depending on what GM considers (arbitrarily within limit) the 'price of car' and 'price of financing', vs the the accounting cost of car and the cost of financing, a profit is recognized either on car or on financing. Between manufacturing and financing, GM may prefer financing, because there are lots of instruments and all manner of counter-parties to make the financing portion of profit look like anything they want it to look like, for awhile. Chugs, Jay

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