Posted on 01/31/2008 6:19:16 PM PST by bruinbirdman
Evil company make 27 billion. Meanwhile, governments steal Trillions and waste most of it.
People can complain all they want. The real story is, although profits may seem high, margins are down because the cost of doing business has increased. So “profits” as they say are misleading.
the instand demand for a windfall profits tax was from a union....this news hit the UK this am. yes, this will give the class warfare new life all the way to Kalifornia.
The only thing obscene about those profits, is that ........ I’m not getting a couple million of them. ;^)
It’s sad when the gov’t get more than the oil companies.
Google’s Q4 profit was up 17%. Why is 9% profit growth at Shell “obscene” and 17% at Google not obscene?
This is a capitalist society. I’m a capitalist and I hate communists and socialists.
Good for Shell, bad for me because I WISHED I bought into Shell years ago (my cousin did, he’s loaded). My shares in Microsoft are up 13%, Yahoo is down etc, so I wish I could be happy for Shell because I don;t have part of the $$$ windfall BUT they simply have a service which we want which is oil.
I just wished they wouldn’t rub it in our faces though.
What they never publish is the % return on investment which is some of the lowest of any business and in most years doesn’t justify them remaining in business.
Then buy gas from the other 10 gas stations!
Oh, I know, they collude! No evidence of course.
Seriously, one complaint I saw said “Since all gas prices from competing stations were within pennies per gallon, we can only conclude that the stations were colluding.”
Of course, perfect competition gives you the same answer.
None of the oil companies are making enough return on investment to justify their remaining in business.
What was the percentage of sales?
How is the phrase “record profits” misleading?
I don’t mind the oil companys making record profits as long as the executives don’t skim them off in bonuses. The profits should be reinvested back into more drilling.
If everyone took their tax rebate and bought an iPod of iPhone, producing record profits for Apple, would such articles appear?
Would there be calls for a windfall profit tax?
No.
Some industries are just targeted for attacks.
Last time I checked, more profits means more taxes. I don't know about Shell, but Exxon-Mobil will make nearly $40 billion in 2007 after taxes. They will pay close to $30 billion in income tax. Anyone is entitled to a piece of this action - just buy a few shares and you're an owner.
Arbitrarily confiscating "excess profit" is an excellent way to destroy an economy. I suppose that if Shell's profits drop, then the government will make up the difference?
Endless complaints about CEO salaries and corporate profits, but no one seems to mind how much Oprah makes.
"A fourth-quarter dividend of 36 cents a share will be paid on March 12"
Thats a divident $1.44 a year on a $36 stock or a yield of about 4%.
There are many equities and bonds that have a higher yield.
yitbos
Because google donates lots of money to liberal politicians.
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