Record profits
08-01-2008, 02:10 AM
#1
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Join Date: 07-12-2006
Location: NE Ohio
Posts: 1,703
Record profits
Glad to see some businesses are thriving in this economy...http://www.msnbc.msn.com/id/25958983/ I hope the CEO of Exxon Mobil has a bodyguard...
08-01-2008, 07:44 AM
#2
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Join Date: 06-02-2008
Location: Fairport Harbor, OH
Posts: 2,358
I just sold a bunch of XOM I had to make a down payment on the SS. It was around $90. It'll probably drop below $80 today. It's plumeting since the oil speculation bubble burst. Got one right for a change.
08-01-2008, 07:54 AM
#3
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Join Date: 10-24-2006
Location: The Show-Me State
Posts: 1,761
Glad to see some businesses are thriving in this economy...http://www.msnbc.msn.com/id/25958983/ I hope the CEO of Exxon Mobil has a bodyguard...
08-01-2008, 08:30 AM
#5
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Join Date: 01-10-2008
Location: NJ
Posts: 681
My question is, don't they have a public relations department? Don't they realize how bad it makes them look to post record profits while the entire country suffers? Why don't they bail out GM & Ford, as these 2 industries can't exist without each other? Couldn't they have found a way to re-invest, so it wouldn't look so bad? And actually WANT to drill for oil? Wouldn't more supply actually bring your profits down? Bush is pushing for more drilling, I would let them with a caveat. Show us you are serious about offshore drilling BY BUILDING MORE REFINERIES!!! They obviously have the money to build them, but by NOT building refineries, it is a form of price fixing.
My other question is why isn't this considered like a public utility, it is just as important to our infrastruture as the delivery of electricity, which is highly regulated. How did the oil companies avoid this? How come no one stopped Exxon from buying out Mobil? What happened to anti-trust laws?
My other question is why isn't this considered like a public utility, it is just as important to our infrastruture as the delivery of electricity, which is highly regulated. How did the oil companies avoid this? How come no one stopped Exxon from buying out Mobil? What happened to anti-trust laws?
08-01-2008, 10:18 AM
#7
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Join Date: 07-05-2008
Location: Baltimore, MD
Posts: 56
Ugh, why does everyone flip out on record profits? Yes, they make huge amounts of money...because they are huge companies. What you should really look at is PROFIT MARGIN...how much are they making as a percentage of sales? VERY LITTLE. The profit margin of Exxon-Mobil is far lower than google, yet nobody screams about google raping people. The public screaming about record profits for the oil companies simply shows a lack of knowledge. 
Last edited by StormChaser; 08-01-2008 at 12:06 PM. Reason: typo
I'll make sure & check with you from now on before I post, to make sure I have my facts straight!
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