CableOrganizer.com recently announced that it had outperformed General Motors (NYSE: GM) by $21.2 in net income over the first nine months of 2008.
In a hilarious press release, senior vice president Paul Holstein noted that "Obviously we couldn't match their revenue, but we were able to beat them handily on costs and expenses. For example, we put off buying a fleet of Gulfstream G5 private jets. That, right there, saved us millions of dollars."
When asked what the secret was to their success, Holstein said that "It's important to spend less money than you make."
Unfortunately CableOrganizer is not publicly traded.
It's unfortunate that General Motors' profitability has been reduced to a source of cheap laughs, but at least we'll be getting something in exchange for our bailout.
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Reader Comments (Page 1 of 1)
11-30-2008 @ 12:44PM
3018c133 said...
Im curious to know how many presidents and vice presidents GM has.As a former delphi employee i saw less and less hourly employees supporting more salary employees and that was not a good business model.I doubt GM can survive with the management culture it has now no matter how much money the government lends them