Capitol One reports record profits and layoffs

How can you announce surging profits and layoffs on the same day.  This is beyond hubris on the part of management.  This is why I think we are in a corporate profits bubble right now that may burst at any point.  They are undermining the very foundation of our economy to get the last few inches of "profitability" out of their company.  At some point though, the foundation will give out and all will come tumbling down.  This is maddness.

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Capital One to lay off 1,400 workers

Creid-card issuer reports 42 percent surge in profits
The Associated Press

Updated: 9:50 a.m. ET July 22, 2004MCLEAN, Va. - Capital One Financial Corp. said Wednesday it plans to lay off 1,400 call center workers and outsource their jobs to save money.

The announcement came on the same day the company reported a 42 percent surge in second-quarter earnings,