Jimmy Neutron
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Exxon Biggest Quarterly Profit in US History as Airlines, Vegas Suffer
- Thread starter Jimmy Neutron
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Really nice, isn't it. CNN just did a story on this, and they had a ticking profits clock running in the corner of the screen... by the end of the story, Exxon Mobil made $725,000.
When will corporate greed ever end? If these greedy b@$t@rd$ keep it up, in ten years, the almighty fortunes they amass won't be worth a damn thing. We'll just be hoping and praying that King Saud and the rest of world will continue to invest the money that used to be ours, back into the country we used to own...
This is very true, we will be paying to rent the very monumetns that our fathers build and were so proud of have as American icons. How long before we sell the White House and congress. It seriously could happen but we would never know it because that would be in the form of president Bush's signing statement. There would be no debated about it it would just happen and we would just stand by and say ......wow can you believe that Dubia owns the white house. There are so many sweeping changes happening in GW's last 6months in office and we will not even realize what he has signed into law until he is out of there. I really hope that McCain loses because if not, he could be even more dangerous than bush. He will want to create a legacy that is larder and more Shock and awe . Will this ever end.
lildutchgrl
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Oil was down to $123/barrel today. When will it get back down to realistic numbers? I can't believe the quarterly profits that have been announced.
C
Cosworth
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I hope people do not revert back to their gas guzzling ways with their SUV's and wasteful driving habits. This is the 3rd warning we have received in regards to our gas usage. Perhaps this time we will have learned something.
Seatacus
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Last I heard was Exxon's profit margin was about 8%. Doesm this seem extreme to anyone?
Could someone tell me at what percent a profit margin is considered a "windfall?
If Exxon could only earn like Disney
Could someone tell me at what percent a profit margin is considered a "windfall?
If Exxon could only earn like Disney
I am not interested in a windfall tax on the oil industry but I do think it is too much to ask that the tax payers are supporting them with tax breaks. ALso they are not using thier profits to build refining capacity that can refine the heavy crude. That is our problem. They are buying back thier stock which is an effort to try to drive thier stock price up.
Seatacus
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Hooray for all their investors (mutual funds,pension funds, 401 K funds, and ordinary americans). You see, it's all good.
KCFlyer
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Is it really? A company shows a profit and Wall Street punishes them because it wasn't enough of a profit. If the stock buyback doesn't work, then I guess Exxon will just lay folks off...it worked pretty well for the airlines I guess.Hooray for all their investors (mutual funds,pension funds, 401 K funds, and ordinary americans). You see, it's all good.
Seatacus
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That Exxon will layoff employees is your guess not mine. The board of directors works for the shareholders I mentioned above. Their obligation is to take care of their interests. If layoffs are needed then it could happen. If a company is making a profit I would think layoffs are less likely.
KCFlyer
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Seatacus...do you (did you) work for an airline? Because airline managment works for the shareholders too...and look at how great that was. One airline shows a consistent profit...and their philosophy is "employees first, customers second, shareholders third". Heaven help us if that management team starts working for the shareholder first.
And my point is this - if shareholders are punished by Wall Street because, even though the company showed a profit, it didn't meet analysts 'expectations', then even with a profit, the company will look at "cutting costs", to better insure that they meet the analysts expectations next quarter. What's the quickest way to cut costs? Cut jobs. So I wouldn't go so far as to expect that a company making profits is less likely to lay off. That doesn't sound like management is even working for the shareholder..it sounds like management is working for analysts.
southwind
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Yep, Exxon's profit margin, 8%, was less than most major computer manufacturers, food industries, chemical companys, drug manufacturers, you name it ! Yet all Nobama and the rest of the Dems seem willing to point a finger at are "The Evil Oil Companys" as they try to dig their greedy little fingers into their pockets and "Ours" by claiming windfall profits !
Seatacus
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I believe you are talking about Southwest and I believe that is wht they say. I think in a way they are taking care of shareholders, they do it by taking care of their employees and customers.
BTW I used to work for the airlines for 35 years. Should have left for my current job years ago.
C
Cosworth
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Have to agree with you on this one ... to a point. We have have been subsidizing the oil companies in one way or another sine we found the black stuff in the ground. We have built a nation reliant on the stuff and we allowed what cold be considered a nation security interest be be controlled by private companies. We will send troops to die to protect the interests of the US and of oil companies but the oil companies need not spend a dime or lift a finger. Yet they continue to make money at our expense. It's not like if I can go somewhere else to get my oil/gas is there? I had also read somewhere that oil companies are buying patents for fuel efficient technology and burying it. Not sure if it is tru or not but I have a hard time believing that we put a man on the moon 40 years ago but we have not been able to replace the combustion engine in over 100 much less make engines that make well over 50 mpg as an average. Something just does not smell right.
Are the oil companies evil? I think they are. I think the US Congress is just as bad and they are in cahoots with the oil companies. What the hell is the point of having a hearing if the wittinesses are not under oath? Make very little sense unless both parties (Congress and oil) are not interested in facts being put under scrutiny?
Mean while you have the likes of McCain looking to drill because we need the oil but no one asks him the question of why the oil companies are EXPORTING gas out of the country? We can have alternate power sources on the road in 5 years or less. We have the technology url="http://www.teslamotors.com/"]Tesla[/url] and we have solar technology. Very few people commute more than 100 miles a day. Have the government subsidize the cost of the car and a solar array to charge it. Tax the hell out of gas (commercial trucks exempt) . Have to figure something to prevent soccer moms from getting tax exempt fuel for a SUV or Crew cab. I would think there would be a way to do it with Tax ID and revenue monitoring.
Neither party has the balls to go after the problem. So while Obama may not have the answer, please do not pretend that McCain is the savior of this country.
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