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Exxon's profit for this past quarter (Read 8218 times)

fubar

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Re: Exxon's profit for this past quarter
Reply #25 - Nov 1^st, 2008 at 8:56am

That's approximately a 10% profit margin after providing millions of jobs and a useful product.

How obscene. Get a rope!

How eff'n ridiculous it is to point to one of the only sectors in OUR economy that is working well and call it obscene profits. MANY business, especially softwarecompanies, operate at 40-60% margins and here you are complaining about 10%.

The depth of ignorance regarding economics and simple math in this country astounds me.

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Re: Exxon's profit for this past quarter
Reply #26 - Nov 1^st, 2008 at 9:29am

Marc wrote on Oct 31^st, 2008 at 9:49pm:

That could be good or bad.

Quote:

That's approximately a 10% profit margin...

Simple math???

Quote:

MANY business, especially softwarecompanies, operate at 40-60% margins and here you are complaining about 10%.

Economics????

Is it a good witch or a bad witch?

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Re: Exxon's profit for this past quarter
Reply #27 - Nov 1^st, 2008 at 9:44am

Shawn explained what NPR was saying when I said overhead costs. I guess what I meant was what it took to get the money. I know some business should be able to be successful but it just doesn't seem right that we are forced to pay such high prices for oil so their profit margin is higher. Other companies work really hard for their income and have to make sacrifices too. My kindergarten classes are over 20 because there just isn't money to hire new teachers. It sure was eaiser when class sizes were smaller. Maybe we would have more money if transportation and heating costs at the Board of Education weren't so high now. I have NO education in finances and this is just my totally uneducated opinion.

Charlotte

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DonnaH_again

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Re: Exxon's profit for this past quarter
Reply #28 - Nov 1^st, 2008 at 10:52am

The hot dog example does not make me happy.

I don't want to pay $8.00 for a hot dog in a stadium, that I helped buld and maintain, to a business that has no competition or they wouldn't be getting $8.00 for that hot dog.

No, I do not have an education in ecomonics, but I think the words "lobby" and "Federal Government regulations", plus "lack of environmental protection", etc, fit in here somewhere.

Surely we've been manipulated into paying roller coaster prices for fuel. It's just plain wrong for oil companies to gouge such record profits out of people, especially at a time like this, what with the loss of jobs, homes, and looking in the sofa cushions to try to find change to buy just one gallon of gas to get to the doctor, or pay for med's. It's not our fault that some huge corporations are closing, moving or going bankrupt because of mismanagement, or that we bail them out so that they can continue to do what they've been doing.

We really do need to get moving on alternative power supplies.

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Melissa CH.com Moderator CH.com Alumnus Offline Don't give up! Posts: 7238 Central WI, USA Gender:	Re: Exxon's profit for this past quarter Reply #29 - Nov 1^st, 2008 at 11:29am We really do need to get moving on ~~alternative power supplies~~ getting rid of the Congressional perpetraitors or else any alternative energy will be for naught. IMO
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Marc

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Re: Exxon's profit for this past quarter
Reply #30 - Nov 1^st, 2008 at 11:29am

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We really do need to get moving on alternative power supplies.

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It's funny, but I haven't seen anyone post the truly obscene amount of total taxes that help drive up gas prices so dramatically.....

« Last Edit: Nov 1^st, 2008 at 11:30am by Marc »

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Re: Exxon's profit for this past quarter
Reply #31 - Nov 1^st, 2008 at 11:36am

The trouble with "profit" these days is that these corporations are NOT creating jobs. They are cutting jobs to create that profit. They cut jobs, ruin careers, pay dividends to shareholders and pad their pockets with multi million dollar bonuses all out of the saved payroll dollars of the former worker bees.

If they were creating jobs, the nation wouldn't be in such a pickle with unemployment the way it is. Wisconsin UEI funds are nearly tapped out. No new living wage jobs are being created, and industry is closing their doors or severely cutting workforce.

I'm very concerned about my future right now. Very concerned.

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BMoneeTheMoneeMan

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Re: Exxon's profit for this past quarter
Reply #32 - Nov 1^st, 2008 at 12:05pm

Quote:

That's approximately a 10% profit margin after providing millions of jobs and a useful product.

The depth of ignorance regarding economics and simple math in this country astounds me.

You are right Shawn. The ignorance astounds me, too.
BTW, what other companies in any of the Dow Jones averages make more than 10% net profit?

"Fool me once, shame on, shame on you. Fool - can't get fooled again"&&&&&&Think of how stupid the average person is, and then realize half the population is stupider than that.&&&&

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fubar

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Re: Exxon's profit for this past quarter
Reply #33 - Nov 1^st, 2008 at 12:05pm

Apart from the seemingly magical ability to hike our pump prices the second oil rises $1, and the interminably slow rate at which the prices come down, even when oil drops by 50%... You are complaining about an industry that is trying like hell to create jobs, is profitable, is necessary, and is which makes a reasonable margin on their product.

The hot dog example was about a vendor who really does make an obscene profit.

Other industries (automotive, for example) have been regulated to death, literally. They cannot compete here anymore.

What kills me is the stupid knee-jerk reaction about the magnitude of their business. Would it be better if Exxon limited their profit to $10 and then stopped producing the product that keeps this country running?

If it's about the price you are paying for gas, complain about the enormous amount of taxes you have to pay on each gallon. They get the taxes for doing nothing at all. The government does everything they can to impede their ability to deliver product, THEN they tax it to death. The government does not look for oil, drill for oil, pump oil, transport oil, refine oil, distribute the product, or pay any workers. Yet, they make more per gallon than the oil companies! What the hell?

And, why aren't you complaining about the obscene profits of IBM, AT&T or Coke? Their obscene profits are far more than the oil companies.

Once again, you are being MANIPULATED. Open you eyes and THINK FOR YOURSELVES.

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fubar

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Re: Exxon's profit for this past quarter
Reply #34 - Nov 1^st, 2008 at 12:11pm

Redd wrote on Nov 1^st, 2008 at 11:36am:

The trouble with "profit" these days is that these corporations are NOT creating jobs. They are cutting jobs to create that profit. They cut jobs, ruin careers, pay dividends to shareholders and pad their pockets with multi million dollar bonuses all out of the saved payroll dollars of the former worker bees.

If they were creating jobs, the nation wouldn't be in such a pickle with unemployment the way it is. Wisconsin UEI funds are nearly tapped out. No new living wage jobs are being created, and industry is closing their doors or severely cutting workforce.

I'm very concerned about my future right now. Very concerned.

What are you saying Redd, that the oil companies should be able to employ ALL of the workers in the US? Huh? How are the oil companies responsible for any WI unemployment?

Or are you saying that nobody should make a profit until everybody is employed?

What jobs do you propose the oil company give these people anyway? They aren't allowed to build any refineries or do any drilling here... tell me how they are responsible for that.

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BMoneeTheMoneeMan

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Re: Exxon's profit for this past quarter
Reply #35 - Nov 1^st, 2008 at 12:38pm

Quote:

And, why aren't you complaining about the obscene profits of IBM, AT&T or Coke? Their obscene profits are far more than the oil companies.

Jesus dude. More fuzzy math?
Coke made 3.6B in the last 6 months. At&T made 6.1B in the last 6 months. IBM made 3.5B in the last 6 months.

Its weird you say that IBM's $3.5B net profit in 6 months is more than XONs 14.8B in 3 months.

As a matter of fact, you are SO wrong, that these 3 companies combined didnt make in 6 months what Xon made in 3 months.

Quote:

The depth of ignorance regarding economics and simple math in this country astounds me.

No shit. Coke, IBM and AT%T made a combined total of 7.89B in Q3, 2008. Somehow this 7.89B is bigger than 14.83B? Can you tell me how 7.89B is bigger than 14.83B?

Quote:

Once again, you are being MANIPULATED. Open you eyes and THINK FOR YOURSELVES.

"Fool me once, shame on, shame on you. Fool - can't get fooled again"&&&&&&Think of how stupid the average person is, and then realize half the population is stupider than that.&&&&

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fubar

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Re: Exxon's profit for this past quarter
Reply #36 - Nov 1^st, 2008 at 12:44pm

OK, what are their margins?

I picked those guys randomly as profitable companies. If ya like, I can find the real examples.... believe what you want.

Edited to add, at 3 of the last few companies I worked at (ranging from 3000 to 16000 employees) we would get insane pressure from management if our margin dipped anywhere near the 60% range. My point is, if we did the same volume of business as Exxon, we would have made $60B in profit. Exxon does not make excessive margin.

The last point I'll add is, yes, the profits right now look large because the market made it that way. You all participate in buying the product and setting the price. You all vote the jerks into office that pass laws that simutaneously manipulate the tax code to hand out favors and satisfy the ecological lobby. However, the recent numbers are a blip, and big oil is not the enemy. The state of our economy is the enemy, and the solution is in your hands on Tuesday.

« Last Edit: Nov 1^st, 2008 at 12:57pm by N/A »

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BMoneeTheMoneeMan

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Re: Exxon's profit for this past quarter
Reply #37 - Nov 1^st, 2008 at 12:57pm

Quote:

I picked those guys randomly as profitable companies. If ya like, I can find the real examples.... believe what you want.

I just gave you the real examples. You are going to completely evade them?
You said Quote:

And, why aren't you complaining about the obscene profits of IBM, AT&T or Coke? Their obscene profits are far more than the oil companies.

If Coke made $1.89B last quarter and Exxon made $14.83B, how is $1.89B larger than $14.83B?

So I just gave you 'a real example'. Why would you believe anything different than fact? 14.83billion is a larger number than 1.89 billion, but you can Quote:

believe what you want

lol

Quote:

Once again, you are being MANIPULATED. Open you eyes and THINK FOR YOURSELVES

"Fool me once, shame on, shame on you. Fool - can't get fooled again"&&&&&&Think of how stupid the average person is, and then realize half the population is stupider than that.&&&&

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Re: Exxon's profit for this past quarter
Reply #38 - Nov 1^st, 2008 at 1:01pm

I am so lost! I just know we need more money for our social service programs. The schools, fire dept. and police are running so low on money everywhere. Without these services we are going nowhere. Schools are crticized for failing but expected to run with a reduced budget, yet educate and serve more students. Our education system is where it all starts. You fail the kids and the future will be grim. Someone try to explain to me why the oil industry can make so much profit while people can't even pay taxes to support these organizations???

Charlotte

cash5542

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Redd CH.com Sponsor Offline Posts: 8457 Stevens Point USA Wisconsin Gender:	Re: Exxon's profit for this past quarter Reply #39 - Nov 1^st, 2008 at 1:09pm I wasn't speaking of Exxon specifically, but the ever increasing Corps. that are cutting their way to profitability.
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Racer1_NC

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Re: Exxon's profit for this past quarter
Reply #40 - Nov 1^st, 2008 at 1:11pm

cash5542 wrote on Nov 1^st, 2008 at 9:44am:

I know some business should be able to be successful but it just doesn't seem right that we are forced to pay such high prices for oil so their profit margin is higher.

Some businesses?

Quote:

Other companies work really hard for their income and have to make sacrifices too.

Life's not fair, we can't make it fair, we never will be able to make it fair.

Redd wrote on Nov 1^st, 2008 at 11:36am:

The trouble with "profit" these days is that these corporations are NOT creating jobs.

The purpose of a business is to make money, not provide jobs. Jobs are a byproduct of the purpose.

Quote:

They are cutting jobs to create that profit.

If that business wasn't making a profit before the job cuts and the needed work gets done after the cuts, that business had too many people employeed.

Quote:

They cut jobs, ruin careers,

As hard as it may be to stomach, jobs are fluid. Ebb and flow is a fact. People have to learn to adapt and change. It sucks that the days of working for one employer for a life time and retiring with a gold watch and a monthly check are coming to a close for the majority of the work force. Knowing that's the future, people have to adapt to the new reality and learn to survive in a different era.

Quote:

pay dividends to shareholders

Once again, delivering profit to the owners of a business is the reason the business exists.

Quote:

and pad their pockets with multi million dollar bonuses

On that you have a point. If times are tough for a business, bonuses should be minimal.

Quote:

If they were creating jobs, the nation wouldn't be in such a pickle with unemployment the way it is.

True. But the reason they aren't isn't all related to the greed of business owners. Taxes, governmental regs, changing consumer tastes and a multitude of other reasons factor in to the equation.

“We see what we believe, not the other way around." — Varga

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Re: Exxon's profit for this past quarter
Reply #41 - Nov 1^st, 2008 at 1:20pm

cash5542 wrote on Nov 1^st, 2008 at 1:01pm:

Someone try to explain to me why the oil industry can make so much profit while people can't even pay taxes to support these organizations???

People do....obscene amounts in many places. The fact those orgs don't see it, or waste it when they get it is a whole different subject.

Modified because the best spell checker is the "post" button.

« Last Edit: Nov 1^st, 2008 at 1:22pm by Racer1_NC »

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Bob P

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Re: Exxon's profit for this past quarter
Reply #42 - Nov 1^st, 2008 at 1:24pm

Quote:

If Coke made $1.89B last quarter and Exxon made $14.83B, how is $1.89B larger than $14.83B?

And that folks is what you get when one person is talking % and another is talking $.

I'n with Shawn on this one.

Alternate energy is well and good but it's not going to get us off oil. 70% of our oil consumption goes to transportation. The only way to get off foreign oil is to change what cars run on.

« Last Edit: Nov 2^nd, 2008 at 6:20am by Bob P »

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Melissa

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Re: Exxon's profit for this past quarter
Reply #43 - Nov 1^st, 2008 at 1:28pm

cash5542 wrote on Nov 1^st, 2008 at 1:01pm:

I am so lost! I just know we need more money for our social service programs. The schools, fire dept. and police are running so low on money everywhere. Without these services we are going nowhere. Schools are crticized for failing but expected to run with a reduced budget, yet educate and serve more students. Our education system is where it all starts. You fail the kids and the future will be grim. Someone try to explain to me why the oil industry can make so much profit while people can't even pay taxes to support these organizations???

Charlotte

IMO the reason our education system is in a shambles is due to Federal government intervention. If the responsibility is left to the free market instead, these things can be regulated better by the people of that state as to the needs/wants of the schools.

IMO, the federal government needs to get the heck out of our lives, stop taxing us beyond oblivion and start doing the job the Constitution requires them to do.

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My question, what's better? Having them fall through the cracks of a failed government run large system, or getting a smaller education that is beneficial??

edited because I forgot to delete a line. Embarrassed

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« Last Edit: Nov 1^st, 2008 at 1:46pm by Melissa »

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cash5542

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Re: Exxon's profit for this past quarter
Reply #44 - Nov 1^st, 2008 at 1:37pm

Racer1_NC wrote on Nov 1^st, 2008 at 1:20pm:

cash5542 wrote on Nov 1^st, 2008 at 1:01pm:

Someone try to explain to me why the oil industry can make so much profit while people can't even pay taxes to support these organizations???

People do....obscene amounts in many places. The fact those orgs don't see it, or waste it when they get it is a whole different subject.

Modified because the best spell checker is the "post" button.

The board of education isn't wasting money, at least the one I work for isn't. Bus drivers are given so much per gallon to maintain the buses and pay for gas. The gas prices rose so fast that there was no extra to give the drivers. Many of our drivers barely broke even. Last year many colleges had to increase tuition mid year or/and lay off professors to balance their budgets. If oil costs hadn't risen so fast and out of porportion maybe the accountants would have been better prepared. Jobs have been lost across the country as many organizations are trying to balance their budgets. Sorry I still don't get it!

Charlotte

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fubar

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Re: Exxon's profit for this past quarter
Reply #45 - Nov 1^st, 2008 at 1:48pm

Charlotte,

I don't know about your schools, but ours are failing and it has nothing to do with paying bus drivers. By most measures, in California we support schools with the most money per student of any state, yet our students rank near the bottom. It's not a lack of money problem. It's a bureaucracy problem.

-Shawn

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Racer1_NC

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Re: Exxon's profit for this past quarter
Reply #46 - Nov 1^st, 2008 at 1:51pm

Quote:

Bus drivers are given so much per gallon to maintain the buses and pay for gas. The gas prices rose so fast that there was no extra to give the drivers. Many of our drivers barely broke even.

Our state is different.......the state and county own the school buses. They got slammed by higher energy costs, but with contract prices (without state taxes on gas), and revamping routes they got by. Of course no consideration was ever given to changing the the cross county busing of sudents for "diversity" reasons. I guess some things are untouchable even in times of economic distress.

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Racer1_NC CH.com Moderator CH.com Alumnus Offline "Well, let's go see." Posts: 4417 Lewisville, NC Gender:	Re: Exxon's profit for this past quarter Reply #48 - Nov 1^st, 2008 at 2:04pm Multimedia File Viewing and Clickable Links are available for Registered Members only!! You need to or
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Re: Exxon's profit for this past quarter
Reply #49 - Nov 1^st, 2008 at 3:31pm

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« Last Edit: Nov 1^st, 2008 at 3:33pm by Charlie »

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