There sure are alot of people that don't understand fourth grade math. Or maybe it was only third grade when we learned percentages. Yes it was $40 Billion profit, but it was only at about a 10% rate. If you can't make more than 10% profit, you're better off investing your money elsewhere and going fishing rather than busting your butt for no more profit than that.

It's amazing how many people fall for the partial information that the left wing mainstream media spews forth.

Can you run your business on less than 10% profit margin?

People can't wrap their minds around the simple notion of percentages. They are impressed by the 40 billion dollar figure.

I would like to but in the real world, it isn't possible. One small mishap and you would be toast.

__________________
01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
03 SeaDoo GTX SC Red
03 SeaDoo GTX SC Yellow
04 Tailgator 21 ft Toy Hauler
11 Harley Davidson 883 SuperLow

.

Good grief.
Do you really still live in childhood innocence.
Do you really think Exxon does not try to hide every penny they can.
And that is after paying the higher ups in the company billions of dollars.

Exxon does not play by the same rules as the local mom and pop store.

.

__________________

When the power of love overcomes the love of power the world will know peace.
Jimi Hendrix

Most people don't understand the concept of net profit and gross profit.

It's not that easy for a company to make a 10% net profit. Most companies in the US would be ecstatic if they could achieve 10%. It's huge. It easily covers any small mishaps.

Now, if you're talking about a 10% gross profit..........you're out of business. Many large companies operate with a 50% gross profit. Some successful small companies will get to 60-65%.

Well, I'm off to buy my newspaper.....

__________________
Palangi

2004 C240 Wagon 203.261 Baby Benz
2008 ML320 CDI Highway Cruiser
2006 Toyota Prius, Saving the Planet @ 48 mpg
2000 F-150, Destroying the Planet @ 20 mpg



TRUMP .......... WHITEHOUSE
HILLARY .........JAILHOUSE
BERNIE .......... NUTHOUSE
0BAMA .......... OUTHOUSE

nnnooOOOOOO!

__________________
1984 300TD

Lack of evidence is proof of guilt? Kuh-razy!

B

Worked on Saddam

__________________
1984 300TD

I agree.

The analogy would be if the IRS knew that EXXON had pumped a figure higher than they reported. We would all want the iRS to pursure EXXON, wouldn't we?

B

And Citizen Joe doesn't? Really? Who is living in fantasy land now?

So?

Again, So? The bigger you are, the more ways you can hide. When you earn minimum wage, you have fewer deductions than when you earn 50K. When you earn 50K you have fewer deductions than when you earn 150K. Don't like the rules? Vote to change them.

__________________
01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
03 SeaDoo GTX SC Red
03 SeaDoo GTX SC Yellow
04 Tailgator 21 ft Toy Hauler
11 Harley Davidson 883 SuperLow

Do you know why there is no national healthcare in this country and we are at war in Iraq

1 one man a CEO in a major HMO make 1.7 billion a year.
2 one man a CEO for EXXON makes 125 million a year.

your 10% is speaking of the working poor not the bllod sucking elite.

Why should there be? Why do we have to pay for others? Since when do we owe you a living?

So? Don't like it? Earn your way to the top and change it, if you can.

How so?

__________________
01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
03 SeaDoo GTX SC Red
03 SeaDoo GTX SC Yellow
04 Tailgator 21 ft Toy Hauler
11 Harley Davidson 883 SuperLow

No good. We didn't know Saddam had 'em. We suspected.

__________________
1984 300TD

Based on the raw materials that we knew he had and that he broke the treaty so many times in the past.

__________________
01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
03 SeaDoo GTX SC Red
03 SeaDoo GTX SC Yellow
04 Tailgator 21 ft Toy Hauler
11 Harley Davidson 883 SuperLow

4. No, it sure doesn't...and Mom & Pop don't employ 126 billion in capital in their stores either.

3. From EM's 2007 Proxy statement, this on executive compensation and performance standards.


"In assessing the performance of the Named Executive Officers, the Compensation Committee does not assign specific weights to the factors considered. An executive’s performance must be high in all key performance areas in order for the executive to receive an overall superior evaluation. Outstanding performance in one area will not cancel out poor performance in another. For example, a problem in safety, health, or environmental performance in a business unit for which the executive is responsible

could result in an executive’s incentive award being reduced even though the executive’s performance against financial and other criteria was superior. Similarly, a violation of the Company’s code of business conduct could result in elimination of an executive’s incentive award for the year, as well as termination of employment and cancellation of all previously granted awards that have not yet vested or been paid.

Named Executive Officers are expected to perform at the highest level or they are replaced. If it is determined that another executive is ready and would make a stronger contribution than one of the Named Executive Officers, a replacement plan is implemented. Reinforcing these high performance standards is the fact that Named Executive Officers and other senior executives do not have employment contracts, severance agreements, or change-in-control arrangements, which increases the risk and consequences of performance that does not meet the highest standards. For these reasons, the interests of the Corporation and its shareholders are best served when executive compensation decisions are made using careful judgments that take all relevant facts and circumstances into account, rather than by predetermined formulas.

Below the level of the Named Executive Officers, the performance of other executives and managers is assessed against objectives and metrics specific to their business units and through a rigorous performance assessment and ranking process. The Management Committee of the Company, which is comprised of four of the Named Executive Officers, is responsible for overseeing the performance assessment and ranking process. This process applies to over 43,000 managers and professionals worldwide (including over 1,600 executives). It is part of a well-developed, disciplined process that integrates performance assessments, compensation, and career development and succession planning. The assessment of individual performance and ranking takes into account results and the means through which those results are achieved. Ranking results are translated into salary and other compensation targets to create differentiation in pay between the lowest and highest performers to reward strong performance and motivate employees to continuously improve their contributions. Assessments of executive potential are conducted concurrently and implemented through a consistently applied, common process. The results of this annual exercise are also primary inputs to the executive development process described in more detail below. "

For the record and from the same report Rex Tillerson, Chairman and CEO of EM earned a total of 14 million in 2006, which included 1.5m in salary, 2.8m in bonus, 4.0m in restricted stock grants and 4m in "Change in pension value and Non qualified Deferred Compensation earnings." EM's next four highest paid executives were paid in the 7-9 million range spread among these categories.

One final comment. US tax law limits the amount of compensation that is deductible for tax purposes. I think it's a million dollars. So, EM isn't saving on US income taxes by paying these $$'s.

Argue 14 million as unreasonable if you want, but no way EM pays the "higher ups in the company" billions of dollars. Get a grip.

2. From it's 2006 annual report, EM incurred sales based taxes of 30 billion; othe taxes and duties of 39 billion and income tax expense of 27.9 billion. Total 97.5 billion in various taxes and duties. (p. 38 of EM's 2006 annual report containing audited financial information.) Also, in the footnotes, EM disclosed that it has outstanding issues in the US Tax Court for the years 1988 to 1993.
If you think the large corporations like EM are not the most highly audited entities in the country, you are mistaken.
From it's Cash Flow disclosure, EM's cash paid for income taxes in 2006 was 26.165 billion dollars.

Final comment: EM's 2006 net income was 39.5 billion. Add back the income tax expense of 27.9 and we have pretax income of 69.322 billion dollars. The effective tax rate on that 69 billion is 43%. This might not be a fair share in some eyes, including yours, but in mine it's reasonable. You tax the golden goose for "corrupt" and "windfall" profits and you have less for exploration, research, etc, etc.

1. I don't live in childhood innocence, but I do like to get my facts straight. You are entitled to your opinion, but not your facts.

If you are at all interested in facts about EM, I suggest you include in your reading the Annual Report and Proxy Statements including SEC filings available by links from here:
http://ir.exxonmobil.com/phoenix.zhtml?c=115024&p=irol-reportsAnnual

I have no particular love for Exxon, but I can't stand rants based on false or no information.

Edit: Of that 39.5 billion net income approximately 5.5 billion is from US operations. The rest is from global operations.