Modern corporations aren't profitable because of sound business decisions, they're profitable because of corporate welfare + federal subsidies. Not shocked to hear such numbers.
I worked at an insurance company that had very similar numbers. Went as well as you suspect.
>Modern corporations aren't profitable because of sound business decisions
One of the things to think about is the way that lots of average businessmen have always been able to rake in the bucks without resorting to any type of predatory approaches coming anything close to this.
Probably more so in less-modern times, like before MBA's had yet made significant impact. And some of these were much rougher times economically.
The contrast can be so dramatic that there's a major logical conclusion about operators who run their businesses this way now.
I worked at an insurance company that had very similar numbers. Went as well as you suspect.