As a businessman, I know President Obama understands what it takes to spark economic growth, because I have seen him in action.
After careful consideration, we have decided that for our next fiscal year, we’ll issue guidance on comparable store used unit sales and on earnings per share only for the full fiscal year. We will no longer issue quarterly guidance. This decision reflects our continuing focus on longer-term store, sales, and earnings growth and on return on invested capital, and our recognition that the performance in shorter-term periods can be more volatile than over the longer term. As we report our quarterly results, we plan to comment on how our performance is tracking against our annual guidance.
Margins on other sales and revenues grew as a result of the growth in extended service plan revenues, which have no associated cost of sales, and the growth in our service margin, reflecting improved overhead expense absorption.
The Obama administration took rapid and decisive action to restructure GM and Chrysler. Within a fairly short period of time these companies were working effectively again.
President Obama has shown he has the vision to support average consumers and taxpayers.
Private-equity and hedge-fund guys typically come into a situation of mediocrity, where rapid change may result in a profit.