CNNMoney: Geico 2009 profit = $649

[BobWang]

http://money.cnn.com/2010/02/27/news/compa....geico.fortune/

And a $50 million loss over half a decade is hardly worth mentioning for Geico. The insurance company posted a $649 underwriting profit for 2009.

[improper_validation]

$649?? Did they mess up and mean $649 million?

 

Hehehh, that is funny, $649...

[dejuan2]

Against the advice of Geico executives, Buffett said in the letter, he lit upon the idea of a Geico credit card. The Geico Platinum MasterCard was born.

 

"I reasoned that Geico policyholders were likely to be good credit risks and, assuming we offered an attractive card, would likely favor us with their business," Buffett wrote in this year's letter.

 

But it soon became apparent that people significantly less well off than Buffett were among the leading users of the Geico card

 

Warren Buffet Credit Card Blunder

[VK]

http://money.cnn.com/2010/02/27/news/compa....geico.fortune/

And a $50 million loss over half a decade is hardly worth mentioning for Geico. The insurance company posted a $649 underwriting profit for 2009.

 

That's 649M, financials statements are rounded, for companies of this size, to 000' or 0,000,000