Misery Loves Car Companies

Last week we jaw-dropped our way through Ford’s massive second quarter loss of $8.7 billion. Yesterday, we were even more blown away by Exxon’s record breaking profit of $11.68 billion for that same quarter. Today, we’re thrice as astounded by GM’s loss of $15.5 billion. They are the official MVP (most volatile player) of the second quarter. Until, of course, some other company steals their thunder on Monday.

While we’re on the subject, isn’t it just a little crazy that two car companies can combine to lose $24.2 billion dollars during the same time that an oil company makes $11.68 billion? We get why that makes sense, but it’s so counter-intuitive.