alt Hacker NewsThis is Enron-level fraud. What would Ford/GM/Toyota's gross margins be without the cost of manufacturing vehicles?
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judge2020 • today at 4:36 PM
More similar to if they took out the cost to design the cars and all the many levels of corporate overhead they have in the form of middle management.
That's a bit hyperbolic. It's closer to using EBITDA as your "earnings" and bucketing model costs in a rapid depreciation model (which is fair, I'd assume a model is good for more than just 1 year...