Saturday, January 24, 2009

The General made $18.1B in 2008

I am not going to say that the economy right now is a pretty tough place. The December unemployment rate for Michigan was just released and it was a 10.8%. Business are closing and I am reminded of that each day I drive into work and look at the Grand Rapids Circuit City with a big sign that says, "GOING OUT OF BUSINESS." However, where you stand depends on where you sit. My employer posted in Q4 earnings yesterday and reported profits of $18,100,000,000. That's 18.1 billion dollars. What was reported in the news? "GE profits down 44% from 2007." Well, almost all companies saw their profits drop in 2008, but my company still made money. To give you a sense of how much 18.1 billion dollars represents, in 2008 my employer made a profit slightly less than the entire gross domestic product of Denmark. This profit was based on revenue of $183 billion. That is an amount slightly less than the gross domestic product of the country of Malaysia. Times are tough, but there is still tremendous opportunity out there. I continue to work hard each day to improve my employer's position in the economy and I am also optimistic about the future.

1 comment:

Big Johnny said...

It is now January you know where your blog poster is ???