Companies near record profits amid high unemployment

[Playinghardball]

Raw Story
By Agence France-Presse

NEW YORK — Major US companies are packing away record profits even as the economy falters, unemployment remains high and the debt-ceiling crisis has shaken confidence in the country, analysts said.

In July, corporate giants such as 3M, Caterpillar, Goodyear, Microsoft and Apple reported all-time high revenues in the second quarter of 2011, though the stock market still slumped amid fears of an economic slowdown and a possible government default.

Of the companies in the S&P 500 list of large-cap firms which have reported their quarterly earnings to date, 72 percent have beaten analysts' forecasts, according to Standard & Poor's analyst Howard Silverblatt.

Moreover, if the current trend keeps up, the S&P 500 companies are poised to have their most profitable quarter ever, he said.

More at: http://www.rawstory.com/rs/2011/08/01/companies-near-record-profits-amid-high-unemployment/

[valerief]

1. Isn't that special? Once I built a railroad...

[OhioChick]

2. Fucked up n/t

[BeyondGeography]

3. What's good for corporate America

is good for corporate America.

As someone who does more work at lower pay for the price of keeping a job, you couldn't have done it without us.