I wouldn't buy a F$%&^ newspaper at an Exxon station...
 

OVER $40 billion in profits. These guys are laughing to whole way to the bank. I am not upset over the whole gas price thing either. Almost 20 years later and they still won't pay a red cent to the people that lost everything from the Valdez spill. BASTARDS.

Tell me how you really feel.

I'm glad to hear people still buy newspapers. Gives me a sense of job security.

As for Exxon, I have no problem with them making profits, and neither does my car ... it thunders down the highway on immoral fuel the same way it does on other fuel.

Exxon still a publicly traded company, by the way ... anyone who wants a piece can have it. Or you could just complain about them. Or both. It's a world of choices.

mutual funds
 

Almost anyone who has investments with hedge funds gets a piece of the Exxon action too. Would you buy a newspaper from them if they were committed to losing money? Not sound economic advice for a company to lose money...that's why we have federal, state and local governments.

Since I own at least a tiny fraction of the company, I am quite pleased that they are making money.

vwbuge - would you prefer that US companies be run so as NOT to make money? *puzzled*

Yeah, buying shares in these companies certainly takes the sting out of all those "immoral profits," eh?

you guys just aren't seeing the bigger picture here are you?

Take a look, this is a pretty thorough piece. Look under "litigation"

http://en.wikipedia.org/wiki/Exxon_Valdez_oil_spill

I don't get it. If you are mad at Exxon, how could you not be madder at (1. The US Constitution, (2. The 9th Cir., and (3. The US Supreme Court?

For some strange reason, I feel better about huge conglomerates making buckets of money, rather than the Vanderbilts, Melons, or Rockefellers owning an industry and keeping it all in their family empires. As mentioned above, you can buy into the action if you so choose. The only other option is price controls, and we saw where that ended up.

Wait a minute. You don't think they'remaking all that money off of newspapers, do you?

Seems like the Judge and the Ninth Circuit can't get on the same page over this $5 billion dollar Punitive damage verdict. Hasn't the Ninth Circuit twice kicked this back to the judge and, in doing so, told him the verdict is unconstitutional?
And of the 4.3 billion in fines already paid, did I read that something on the order of 300 million went to individuals affected by the spill?
Now, I would tend to believe the Ninth Circuit is no friend of Exxon. Is this case on appeal to the US Supreme Court?

I don't have a dog in this fight, but they're entitled to their day(s) in court, no?

And, to repeat, if you can't beat them, join them.;)

http://www.exxonmobil.com/corporate/investor_dividend_reinvestment.aspx

"Happy Motoring"....:)

(An old Esso/Humble slogan iirc.)

Anybody who refers to Esso is revealing either their age or location. Hee hee hee. Don't they still go by Esso in Canada? I never knew why they changed their name here.

Two things a man can't choose: His parents and his birth date.
The rest is up to him.:D

And what was the Sinclair dinosauer's name? ;)
(I knew that woud get a comment out of you D.:D)

I can see him, but can't recall his name, both evidence of MY age, I guess . . . What was the question?

Look Sport...Money is money and so long as we exist in and support an unregulated free-market economy,little,piddling Morality issues are irrelevant.

The whole system of Venture Capital is predicated upon the fact that a fat balance sheet is good for the investors who have risked their money,not to mention the employment factor.....

So,we have Monopolies,and there may perhaps be manifold abuses which on occasion stick in our craw,but can you outline a better system?would you have eveything regulated so that there will be paltry incentive to strive for a profit?

I think it's funny that the various companies that were Standard Oil and AT&T are now coming back together.

Howdy Carleton. Funny you should show up: I had some peach brandy left over from waterfowl season, and a slight cough, so I am currently sipping a 'Makers and peach brandy 'manhattan' (shaken and strained). Things are still a little syrupy for me, but the cough is going......

That reminds me of some Southern Comfort punch I had at a party a while back I think it had peach brandy in it, too. It was pretty good.

Colbert on ATT

http://www.youtube.com/watch?v=I6nuwQmhrZ8

Luke, come over to the dark side
 

Up here in Canada our government has grown our Canada Pension Plan into 130 billion in just over 7 years thanks to the stock market. We ***** about carbon foot prints, and corn fed ethynol plants, ADM and Cargil but I still want my pension, when the time comes. By Shell, Syncrude, Oil Sands...it doesn't matter we are all part of the problem. So last one out don't forget to turn off the lights.

Illegitmi non carborundum

That's good.At times I will depart from convention and use Bourbon and Courvoisier myself.

Many people love to complain about huge profits.
Does anyone know what is the capital invested? IOW what is the return on the investment? Gross numbers of profit mean almost nothing; the ROI is meaningful.
Does anyone have the figures?

Key data on Exxon..

http://finance.yahoo.com/q/ks?s=XOM

In 2006 EM paid 7 billion in dividends while repurchasing 28 billion of their own stock. Lots and lots of free cash flow...;)

The return on investment for oil companies is typically in the 10-15% range.

Compare that to what was made in the dot com era, or in real estate. Didn't hear too much outrage over "windfall profits" in those cases.

I don't know, those child labor laws put into the books 100some years ago don't seem to have destroyed incentive to strive for a profit.
I think a better system than free market is fair market.

This was on another board. They spent 364 to get 404. 40 profit which means what? 11%? I would hope my company makes more than 11% or i might have to close shop and go fishing.

.

If you think your not a slave to Exxon your a idiot,
and a slave.

If you think this is a free market economy you don't know siht
about the Federal Reserve and government lobbyists.

If you think money is the source of happiness
You live in fear, and will only find fleeting temporary happiness.

Wake up people, before it is too late for everyone !!!

Thank you
Have Fun !
RichC

.

Fine with me if Exxon makes that much cash - they're a well-run company that pays their employees well. Those employees buy cars, houses, furniture, vacations, land, and invest in stock markets. When the companies do well, we all do well. Wake up.

If we don't make 19.4% we can't cover our expenses and might as well close the door. If we can't make 32%+ our compensation wouldn't be commensurate with the time, money and effort we put in.

The number of cars in line determines where I buy my gas/diesel. I hate waiting around and jockeying for position.

Power resides in who gets to define "fair market". Should it be by popular vote or a closet full of eggheads?

Inquiring minds want to know.

B

But you see, that is why I don't understand why people get so agitated with them making 40 billion when they spent way more than that.

Oh, I know. For 11% most business owners would close up shop. The ones that weren't smart enough to would run themselves into bankruptcy.

What they are saying is that it is ok for them to make 30% profit. But if Exxon makes 11%, it is a cardinal sin.

Profit = sin.

That is why government is virtuous. It is here to help you and protect you from people who make profits. Government is good. Happy, happy.

B

.

O yes, I see, Exxon is just like your small business.

You spend millions on lobbyiests to get government to do what you want.

You pay yourself millions and millions of dollars and have a huge retirement fund.

You are able to pay your friends a million dollar payroll.

You have tax lawyers that help you find every loopole so you pay a lower percentage of taxes than a middle income family.

You can cause a global catastrophy and get away with it.

___________________________

Sometimes its is hard to fathom the depth of stupidity of people.

If you think Exxon is just a great group of people, here to help you and the world, you need to be sent to live at Prince William Sound.

Exxon does not give a rats ass about you.
They dont care.

They are one of the most evil entities that exist.

Prove me wrong.

Jeez, shut up you liberal cry baby. If free markets cause you so much stress you need to move to a communist country. And when you get there, tell us how you enjoy you new found freedom of speech to bash the system.

Actually I am totally surprised on this thread how many are NOT anti-Exxon. Just this one clown who is pretty clueless.

I think I will go fill up at Exxon, just to annoy the 5hit out of my neighborhood marxists. Then, on the way back, I think I will stop at Wal-Mart and buy a "Support our Troops" window sticker for each car. :D

Exxon Mobil is not big enough to control the world's oil markets.

It is not even big enough to control the price of oil or gas in the U.S.

Their cost to pump oil out of the ground is fixed, regardless of the price of a barrel of oil.

When the price is low, they make very little money, but when the price of oil is high, like right now, they make a lot of money.

Economics 101.

___________________________

Hey ! calling me a liberal crybaby. Good one !

Why do you think this is a free market ?

The existence of the Federal Reserve in our economic system means this is not a free market.

Having government lobbyists makes it even less of a free market.

There is not a level playing ground for all businesses.

_________

It is people like me, and others that try to make changes that keeps this from being a communist country.

And we do not even have freedom of speech in this country anymore.
Go read the patriot act.
You can be imprisoned and tortured for what you say in the good old USA.
___________

Well if this evil entity doesn't take oil, refine it, and sell it to people and businesses, another evil entity will take its place. It just won't be called Exxon.

Energy and health care are just two of many controversial business areas. Almost everybody, like it or not, relies on them to some extent throughout their lifetimes. That's why they are good for the high-risk portions of my investment portfolio.

Yea, Brother. However, what you don't say is that I too do that function. Give me all your money and you will also get the same protection without the paperwork,

What's your point? That we should have different standards for every entity out there? Maybe that is why people are so adverse to going by principles. They cannot be bent and twisted for a situation.

--------------------------------------------------------------------------

And you were not please at being called a liberal crybaby. Hello Kettle. This is Pot here. Looking kinda black aren't you?

In every business, no matter what we say, we are there to make money. So, if you believe a company truely cares for you, guess who I think is the moron.

So what's your point? That you know of a company that really cares about you? You believe all the properganda? Grow up. A company only exists to make money. That you are helped is secondary.

So what are the "good" entities out there?

Exxon is stonewalling. Just because our system makes it possible for a stable full of lawyers to pull that off does not exonerate Exxon from their stinginess at paying up for their damage.

I hadn't realized that there was this much stonewalling, still in progress. Those bastards don't care about the natural world, at least the part of it beyond their ranches and estates.

When you buy stocks and shares, do you ask how they get the profit for you? Most don't. Most shareholders only give one directive. Make as much money as possible.

Congrats. You have neatly summed up the dark, sordid underbelly of capitalism: convert the natural world into cash flow and to hell with any possible downside that squeamish hippies complain about.

After all, who needs things like fish in rivers? With all the money my Exxon stock nets me, I can get all the fish I need at the grocery store!! Duh . . . .

But, to answer your question, more and more people are concerned with how their money is made. No doubt you are firmly in their ranks. :rolleyes:

I suppose we should go the hippie way of "Peace, Love, Dope"?

Well then, problem solved. When the people pay more than lip service to their concern of how the money is made, corporations will change their ways. So far, I have seen little real care as compared to plain greed. Oh, the lip service department is going good though.

Definitely. In fact, later this year, I'm going to get myself some hippiewear. A pair of Birkenstocks.

Oh boy, ain't nothing wrong with me, it's them witches, I mean, hippies.

See if you can find a leg to stand on without pulling the wornout straw man Booo-$h!t.

Funny how things that used to be the province of hippies are taking off in the mainstream now -- recycling, organic food, non-toxic products, . . .

WTF are you even talking about?

Your point being? Hitler had done some good too. Also he made a bunch of stuff mainstream. You ready to embrace all that he stands for? Pretty easy to have those high falutin ideas when things are going well. When times get hard, lets see how much of it will remain. You stated that they were rebelling against a rigid society, yada, yada, yada. Have we been as competitive since then? I think not. Before they came along, we were riding high. Do you think we still have that work ethic?

Them not caring makes them amoral, not immoral.

How about "uncaring"?

In any case, why do we expect a company to care about us? I don't. I never felt that ANY company cares about it's patrons other than as a means to an end. Does anyone really believe a company that says "I care about....."? I don't. I know that they are PRETENDING to care to pander to my needs. Why do people get so caught up in the caring crap when it is all fake?