DETROIT — GM posted a profit of $865 million in the first quarter, its first quarterly profits since 2007, and then promptly lost the money gambling at the Motor City casino near downtown Detroit.
IRVING — ExxonMobil, the Irving, Texas-based company, posted the largest corporate profits in U.S. history. Its earnings of $39.5 billion for 2006 on revenues of $377.6 billion exceed the previous record of $36.13 billion in 2005, also posted by ExxonMobil.
“If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.”
DEARBORN — Ford announced recently that it had losses of $12.7 billion for 2006, its largest loss in history (although still far below GM’s 1992 losses of $23.5 billion).