Recession-free zones

Despite a lot of economic doom and gloom, it is clear that there are some recession-free zones – some very rich companies that continue to rake in the cash! Exxon Mobil reported the biggest annual corporate profit in US history last week, $45.2 billion. That’s $5 billion up on the previous record – guess who – Exxon Mobil’s profits in 2007.

And even in the banking sector it is not all bad news. The Commonwealth Bank of Australia, ASB’s parent company, announced a profit upgrade this week. CBA said that growth in credit demand and deposits would result in an interim cash profit later this month of $2 billion – 20 percent higher than forecast.

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