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All these details about the London Whale will reinforce the view that even one of our supposedly great risk managers, Mr. Dimon, can lose control of what is happening in his business – on a scale that can matter for overall profits and, potentially, for the economy.
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Blue-chip firms controlled by institutional owners, such as ITC, and a handful of subsidiaries of foreign firms such as Unilever, together account for only 18% of overall profits.
Air France bought its holding in KLM in 2004, but the Dutch wing of the group has maintained its independence and accounts for about two thirds of overall profits.
Tasting rooms are an expensive part of the build-out but can account for a large part of overall profits later-on.
Strong sales of the Ford Focus small car, the Ford Taurus and Mercury Sable midsize sedans and the Mercury Grand Marquis large sedan meant that cars accounted for a growing percentage of overall profit, said Henry Wallace, the chief financial officer.
Overall profits for the division rose 19% to £95m year-on-year.
Overall, profits for major firms are forecast to drop by more than 8% this year.
Goldman Sachs has declined requests for information about its overall profits or losses in the mortgage business from mid-2006 thethe present, a period during which it made winning and losing bets in the market.
While the overall profits for the third quarter exceeded analysts' forecasts of around 1.9 to 2 billion Swiss francs, the bank's future remained clouded by falling revenues at Credit Suisse First Boston, its New York-based securities unit, which has been hit by a slide in bond markets.
"If I compare what their profits are when a record company charges a retailer 60 cents a song, I find that [the current] overall profits for the entire channel, which is the label and the retailer, are almost 50% lower than what they could optimally be when the record label charges lower wholesale prices".
The overall profits for the state-based companies, like Verizon New Jersey, were about 15%-20%-20%
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