Posted on 07/31/2008 7:57:46 AM PDT by edcoil
NEW YORK (CNNMoney.com) -- Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
Eleven Billion might sound like a lot but compared to 700 Billion going to the middle east and the Billions to government in taxes for doing nothing.
Its a drop in the global oil bucket.
(Excerpt) Read more at money.cnn.com ...
Yep.
McDonald’s Profit Margin = 19.20%
Coca-Cola’s Profit Margin = 18.41%
Why don’t they add these little pieces of data to their story?
(We all know the answer)
all the clintonistas that have run fannie mae into the ground should take a lesson from exxon
Considering the performance of my 401K this past year, you must be joking.
Normally, you can multiply the net income X 3 to get the government's portion of the pie. In this case the government probably collected about $35 billion dollars....talk about a windfall profit!!!
The instigators of the Fannie Mae/Freddie Mac boondoggle are the biggest crooks in American history. (Unless you count the very concept of a fiduiciary issue as inherently fraudulent - in which case we're still talking about the Feds as far as I can tell). Private companies aren't even a blip. The Mafia isn't even a blip.
.5% profit margin? Have you considered the revenue produce to achieve a trillion dollar profit?.
Too much to even ponder. I know you are being facetious
Thanks...that was my point exactly. I was just too lazy to type it.
Record profits come from record escalation of prices, during a war no less. Previously it would be during a hurricaine or when ever some dictator farted. Please don't give me that freee market crap.
Ever hear of stock holders, pension funds, firefighter, teachers retirements, mutual funds, people who invested so that they could retire in some semblance of comfort not relying on taxpayers (i.e. you and me)
And don't even get me started on how much the government collected. Learn some economics before you spew dem talking points.
Wartime or not. As an aside, the smallest percentage of profits oil companies make come from gas sales and in the US. 70% is international and from other products produced from oil. Like those plastic keys you're typing on.
How much is going to the government for doing nothing?
Oil lease payments, royalties and taxes at all levels?
$22 billion?
$30?
$40?
“Considering the performance of my 401K this past year, you must be joking.”
My point probably was not clear, so I will try to be more specific. Do you expect returns of more than 8% over the life of your 401K? If so, then there should be no reason to complain when any company makes ONLY 8%. I’m not really addressing this to you specifically, just making the general point that this story, and all the coming follow on stories, is nothing but continuing the push of class warfare and envy.
In the case of oil prices, we're at the mercy of government regulation, international cartels, speculators, and taxes that increase when the price goes up.
You're ability to retire on the pain and suffering of others should give you a real noble feeling. Enjoy your record profits.
BS on your 31. Profits do come from increasing prices if you increase the prices more than needed to meet costs and production. That’s exactly what’s happening everytime there’s a situation I mentioned earlier. When you made record profits over the hardship of others and you’re running a monopoly on required commidities, you’re gouging plain and simple. There’s a worse word for it, but what’s the point.
If you own and run a business, you obviously do not carry inventory or understand the economics of demand.
High prices in emergencies prevent shortages. "Gouging" (thats not to say tere are exceptions) is a favorite word for those who do not undersand demand economics.
XOM down 4 today. Stockholders are not impressed.
Record profits come from record escalation of prices, during a war no less. Previously it would be during a hurricaine or when ever some dictator farted. Please don't give me that freee market crap.
Thats kind of strange. Did they fall short of their forcast for the quarter?
Yes, that is what happened. Did not meet expectations.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.