Credit Card Bailout – Financial Situation of Capital One
Posted on | November 9, 2008 | 10 Comments
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Due to the overwhelming popularity of the post, “Is a Credit Card Bailout Next?” there will be followup posts this week portraying the current financial situation of each of the major credit card companies. Today we will dig deep into the financial statements of Capital One Financial Corp (COF). We all know the catchy commercials, “What’s In Your Wallet?”, that Capital One uses, but do we really know how they are doing financially.
Income after tax is pretty much the bottom line on how much any corporation makes after all the fees and expenses are taken out. Ultimately, all businesses want this number to be positive and an increase over the previous year’s quarter. In 2008 Quarter 3, Capital One Financial Corp posted $385.79 million in income versus $816.37 in Quarter 3 of 2007. They are down 52.7% this quarter versus last year. Can you imagine making less than half of the income this year compared to last year? This is what Capital One is going through.
Capital One has been an extremely strong financial company for the last 10 years, but that was prior to the credit and mortgage crisis we are going through. No one knows what will happen in the coming months, but if another there is another quarter or two of being down 50% in income, we will be talking about bankruptcy for Capital One. What are your thoughts?
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10 Responses to “Credit Card Bailout – Financial Situation of Capital One”
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November 9th, 2008 @ 8:15 am
Where did you get your blog layout from? I’d like to get one like it for my blog.
November 9th, 2008 @ 8:18 am
[...] Due to the overwhelming popularity of the post, “Is a Credit Card Bailout Next?” there will be followup posts this week portraying the current financial situation of each of the major credit card companies. Today we will dig deep into .. More [...]
November 9th, 2008 @ 8:47 am
[...] Alpha Male wrote an interesting post today onHere’s a quick excerpt Due to the overwhelming popularity of the post, “Is a Credit Card Bailout Next?” there will be followup posts this week portraying the current financial situation of each of the major credit card companies. Today we will dig deep into the financial statements of Capital One Financial Corp (COF). We all know the catchy commercials, “What’s In Your Wallet?”, that Capital One uses, but do we really know how they are doing financially. Income after tax is pretty much the bottom line on how much [...]
November 9th, 2008 @ 6:08 pm
The layout was provided by my hosting company; I use dreamhost.
November 9th, 2008 @ 7:22 pm
Well, it’s only a matter of time now. Credit card companies are tightening their standards, and credit defaults could be on the way as people worry more about making mortgage payments and buying food as the economy worsens.
November 11th, 2008 @ 4:30 pm
[...] Credit Card Bailout – The Financial Situation of Capital One [...]
November 20th, 2008 @ 2:53 pm
They should let em fail i have very good credit,and no credit card, i live with a 60 year old sick woman,who is in debt,even though i work nights i try to handle these calls for her, they are the ones who lent the money with little or no back ground checks, they are the ones who keep sending people credit card invitations, let them fail,they dont have any respect from me,and the debt colletors or rude,arrigant,and pompous.
November 22nd, 2008 @ 1:01 pm
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-employers do not use recruiters in recessions because they cost money
-job boards are flooded with applicants
People just do not look for jobs on employer websites. There are thousands of employer websites in most cities and many of the job sit on there for months without applications.
This is where most of the jobs are and I found this far more effective than other means.
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All [url=http://www.hound.com] Hound.com [/url] does is show you [url=http://www.hound.com] unadvertised job openings that are not publicly advertised[/url] and are located on employer websites.
Very few people realize that most employers post their job on their own sites and not on job boards like Monster, CareerBuilder, etc. because these sites charge employers up to $500 to post a single job. In my experience (I am getting more interviews that I ever have), your chances of getting interviews and hired are much better when you are applying to jobs that are not advertised that no one knows about.
I have gotten a ton of interviews through the [url=http://www.hound.com]Hound site[/url]. If you are looking for a job I would highly recommend using [url=http://www.hound.com]Hound[/url] . What most people do not realize is that most jobs are found on employer websites and not job boards. [url=http://www.hound.com]Hound[/url] puts all of the jobs it finds from employer websiste (every Fortune 500, Inc. 500 and other company it can locate) on its site.
When you start seeing sites advertise themselves a lot that should be a warning sign of sorts because that means that lots of people will start going and applying to the jobs. I really trust [url=http://www.hound.com]Hound[/url] because it does not advertise. You can find the site at http://www.hound.com
January 28th, 2009 @ 3:34 pm
[...] Credit Card Bailout – Financial Situation of Capital One [...]
February 20th, 2009 @ 1:47 pm
We have Capital One for our CC. We always pay ontime. Our total Cap One debt is oney $3500.00. They just raised APR across the board to 15.9% regardless of payment history. If the taxpayers just gave them a 5B bailout, they can afford to buy a bank and still want more money. When will such corporate greed become a felony? This is all getting out of hand.