That saying applies very well to the financial level. The problem with a real manufacturing company is that, the gains are shared, in that people get to keep their jobs (people like me).
GM and Chrysler, sooner or later, are toast, and Ford sometime after that. TPTB sold them up a river years ago. To make matters worse, the UAW slowly ate them from the inside, and the management is archaic. Such a sad thing to see, as they were among the last bastions of American manufacturing.
Nevertheless, the profits, as well as the losses, were shared, unlike Goldman Sachs, et al.