Automotive News reports the unsurprising news that more than a third of people’s tax refunds this year will go into automotive spending. Reporting on an Ebay-sponsored survey, AN says:
Roughly 68 percent of the taxpayers surveyed have either received a tax refund check or expect to receive one this year, according to eBay. The average overall refund amount is $2,900. The average refund amount going to auto related purchases is more than $1,000.
Cars: The ultimate wallet drainer.
Based on Fortune 500 statistics, comparing 2004 to 2011 results:
Change in Sales Revenue: -22%
Change in Number of Employees: -36%
Change in Reported Profits: +328%
Change in Sales Revenue: -21%
Change in Number of Employees: -50%
Change in Reported Profits: +580%
Anybody see a pattern?