Profit grows on trimmed trees, freshly painted walls, and rehabbed bathrooms, and flipping volume soars, and nothing can go wrong. Then something goes wrong.
After 11 straight quarters of declining sales, they tick up for the wrong reason, and net profit plunges nearly 30%. But no problem. “I’m very pleased with the progress we’ve made,” bragged CEO Meg Whitman.
The report – released on Friday when everyone was on vacation or getting ready to head out of town, and when no one was supposed to pay attention – was a zinger: US net capital outflows soared to $153.5 billion, the largest ever recorded.
Taxpayers get milked. And California’s environmental laws, signed by Gov. Reagan, get shafted. Very ironic for a company that hypes its “green” credentials.
