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Islander Transient
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Discussion Starter #1
In the time it took you to read the thread title Exxon made $1500...


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.
That profit works out to $1,485.55 a second.
That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
 

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Colts fan & Stoker owner
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Pure greed
 

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Banned
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Pure greed
If you want to look at "pure greed" why doesn't anyone focus on the pharmaceutical companies that are turning 30+% profits regularly??? I don't hear the outrage there, and these are companies that are suppose to be helping people improve their quality of life. Seems as though they could cut it back down to about 5-8% and have no problems. :)sphss
 

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Resident Ford Nut
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Maybe I'm missing something :

REDMOND, Wash. — Apr. 26, 2007 — Microsoft Corp. today announced revenue of $14.40 billion for the quarter ended March 31, 2007, a 32% increase over the same period of the prior year. This revenue drove record profits with operating income of $6.59 billion and net income of $4.93 billion. Diluted earnings per share for the quarter grew 72% to $0.50, and included $0.02 in tax benefits and $0.01 in legal charges.

These results reflect $1.67 billion of revenue and operating income, $1.14 billion of net income and $0.12 of diluted earnings per share that were previously deferred primarily related to the technology guarantee programs for Windows Vista™ and the 2007 Microsoft® Office release.

Microsoft has a 34% profit margin and Exxon Mobil at 8.4% and who's greedy.... oh cry me a river.

I don't like $ 4.00+ gas either but it's not their "greed" that's the problem.

Sleeper CP
Big Inch Ford Lover :D
 

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Islander Transient
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Discussion Starter #7
Yeah, that 8.46% profit margin is just out of hand...
What's the typical margin for the industry? If you compare 8.5% to jewelry then yes it's out of hand, but how does it compare to their peers. None the less, the net income was $11B in Q2, that's a shiat load of coin.
 

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It is what it is
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What's the typical margin for the industry? If you compare 8.5% to jewelry then yes it's out of hand, but how does it compare to their peers. None the less, the net income was $11B in Q2, that's a shiat load of coin.
Who cares what the percentage is, it's the largest profit ever reported by a US company, ever........... The economy is in the tank, everybody needs fuel to get around, and the oil companies are making huge profits, record profits, the largest profit ever recorded.

Jordy, you can get generic drugs, you can also order from Canada or Mexico, when you go to fill your truck up next time, go ahead and put some generic fuel in it and save 80% off the pump price. There's no competition and you have no choice but to pay what they set the price at.
 

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Islander Transient
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Discussion Starter #9
If you want to look at "pure greed" why doesn't anyone focus on the pharmaceutical companies that are turning 30+% profits regularly???
Pharmaceuticals are subsidized through health plans and benefits so the net price/impact to the end user is not as significant as gas. Not everyone needs drugs so the pain of the cost is not felt universally
Maybe I'm missing something :
The difference is that most people don't need to upgrade their OS or software every day, and Microsoft keeps developing innovative products that consumers WANT. They're are not providing a product people NEED.

Just my 2 cents.
 

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None the less, the net income was $11B in Q2, that's a shiat load of coin.
Then start your own oil company. What's stopping you??? It's a free-market economy. Just remember the little people when you make it big. ;)

Who cares what the percentage is, it's the largest profit ever reported by a US company, ever........... The economy is in the tank, everybody needs fuel to get around, and the oil companies are making huge profits, record profits, the largest profit ever recorded.
And good for them!!! Again, it's a free market. Supply and demand set the prices to what the market will bear. :)

There's no competition and you have no choice but to pay what they set the price at.
Really? There are 100's of oil companies in the US. You mean to tell me that EVERYONE of them are in on this little price fixing scheme??? That's one hell of a conspiracy!!! I bet Elvis and 2Pac are running the show. :D :D :D

Simple supply and demand, combined with a shortage of refineries is what is setting the prices here guys. Trust me, I hate having to fill up the 34 gallon tank in my truck as much as the next guy, but until we make some drastic changes, like drilling offshore and in Alaska, and building more refineries, nothing is going to change. Artificially force prices down and it will result in gas shortages. :mad:

Or we could just sit here and blame W. :D :D :D
 

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Pharmaceuticals are subsidized through health plans and benefits so the net price/impact to the end user is not as significant as gas. Not everyone needs drugs so the pain of the cost is not felt universally
Oh really now??? Seems to me that one of the big platforms that the cradle to grave candidate is running on is doing something about the rising cost of healthcare. Comrade Klinton was all about a socialized medicine program because there is a great percentage of the population that can't afford insurance.

You honestly believe that the insurance companies absorb the high cost of prescription drugs out of the goodness of their corporate hearts??? C'mon now...they pass all that stuff right on down the line because insurance companies are <gasp> BUSINESSES that are as concerned as much with their bottom lines and shareholders as are the evil, greedy oil companies. :)sphss

Some of the stuff that gets posted around here honestly leaves me very scared about what people do and don't understand about what goes on in day to day life, and some make me wonder how they function at all. I'm telling you, if you haven't seen the movie Idiocracy, it's based in fact. We're becoming dumber as a society with each passing day. :(

p.s. Not everyone NEEDS gas. The greedy American just doesn't want to be inconvienced and have to change their lifestyles and carpool, or use mass transportation. They want to go where and when they want to go, without compromise.
 

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I got nothing
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What's the typical margin for the industry? If you compare 8.5% to jewelry then yes it's out of hand, but how does it compare to their peers. None the less, the net income was $11B in Q2, that's a shiat load of coin.
All of this can easily be found at Yahoo Finance XOM is the symbol for Exxon Mobil. Their industry is Major Integrated Oil and Gas.

 

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I got nothing
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Pharmaceuticals are subsidized through health plans and benefits so the net price/impact to the end user is not as significant as gas. Not everyone needs drugs so the pain of the cost is not felt universally.
Of course it is felt universally, at least for those with insurance, you pointed out why yourself. The cost is passed down to the consumer in the form of health insurance premiums...
 

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The oil business is an effective monopoly. Coupled that with inelastic demand and whallla. They have the ability to put everyone's nuts in a vice.

There are not many business that generate 10% net profit after all expenses, taxes, etc. Within those expenses are huge salaries paid to executives and lots of other perks. I'm not saying that salaries and profits should be regulated. I believe in our economic model.

However, history has also shown that when one industry has this much monopoly power and can greatly influence an economy, that some regulation is considered. However, this will not happen as the politicians have their hand in the money bag.........

Due to these enormous profits, the energy business is attracting new entrants offering alternative energy sources. Unless gas prices decline and remain stable, the market will remain attractive to those offering an oil alternative.

Its just part of the cycle.
 

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Islander Transient
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Discussion Starter #15 (Edited)
Then start your own oil company. What's stopping you??? It's a free-market economy. Just remember the little people when you make it big. ;)
When I make it big I'm going to buy that Pirate house and you will be invited to the pool party :D
Jordy said:
p.s. Not everyone NEEDS gas. The greedy American just doesn't want to be inconvenienced and have to change their lifestyles and carpool, or use mass transportation.
With the exception of a few mass transit vehicles running on alternative fuels, I'm assuming that carpooling and mass transit still requires some form of petroleum based product. The cost is still passed down the line. Again, I'm nieve, but I believe society has made lifestyle changes, more home officing, fewer trips to the lake, fewer vacations, not as many boats running up and down the lake, yet even with the reduction in fuel consumption Exxon still posts a record profit.

There is no point in arguing with you, we all have different filters on how we perceive situations. This is one of those situations and it effects everyone differently.
 

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Big oil controls 3% of the world market. The rest is owned by state run oil companies. It's not like they control most of the world market and they are setting the price. It's simple supply and demand (actually, it's not really that simple but that is the primary force, the rest is determined by traders, commodities as a hedge and the value of the dollar since the dollar is the currency that oil is priced at). Unless we start drilling here, prices will only go up and we will continue to transfer all of this counties wealth to other contres that don't like us very much. Did you know that congress voted yesterday whether or not to bring to the floor a vote on whether or not to drill off shore? Buy the way, it was defeated by one vote. Congress is going on summer vacation (must be nice while all us saps work) without a vote on drilling off shore. You guys should not get mad at the oil companies, get mad a congress (Pelosi has been doing her best not to let it come to the floor for a vote). Write an email or a letter to your congressman..............I sent two off this morning to the two idiot congressmen (Susan Davis and Bob Filner) who voted against it.
 
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