.....and the screwing continues!!

[Don Ferrette]

As it appears in today's Washington Post-

Exxon Makes U.S. Corporate History With High Profits

By Justin Blum

Washington Post Staff Writer

Monday, January 30, 2006; 12:57 PM

Exxon Mobil Corp. reported today that its 2005 earnings totaled $36.13 billion, the largest annual profit ever for a U.S. company.

The company's annual profit was up 43 percent from the year before.

Exxon Mobil, the world's largest publicly traded oil company, also reported $10.71 billion profit for the last quarter, an increase of 27 percent from the year before.

Those are the largest reported net income numbers in U.S. history, according to Howard Silverblatt, an analyst for Standard & Poor's in New York. He said the previous records were set by Exxon in the third quarter of last year and in 2004.

Exxon and other oil companies have benefited from unusually high prices for crude oil, gasoline and natural gas -- the result of tight supplies and heavy demand. Hurricanes Katrina and Rita, which disrupted domestic production and refining, contributed to those conditions and pushed prices higher.

Chevron Corp. last week reported that its fourth quarter profit was up 20 percent form the year before. ConocoPhillips reported a 51 percent increase in fourth-quarter profit. Marathon Oil Corp. reported that its fourth quarter profit nearly tripled. Oil giants BP PLC and Royal Dutch Shell PLC have not yet reported their profits.

Oil companies are trying to downplay their profits, partly because some members of Congress have been calling for new taxes on oil companies. Exxon and the American Petroleum Institute, an industry trade group, ran newspaper ads today saying oil companies' earnings per dollar of sales are below, or in line with, those of other industries.

Think about it next time you fill up, this is NET BOTTOM LINE PURE PROFIT!!. :angry: :angry: :angry: :angry: :angry: :angry: :angry: :angry:

 

[Eric Canto]

Hello Don. I in no way, shape, or form want to but heads with you....Keep in mind, if Andy and John did not make "profit" on the truck load of stuff you buy from them, they simply would not create these products so that you can choose weather or not to buy them. Some people think that $1,000.00 or more for a "toy boat" is the screwing of a lifetime, as a result they choose not to buy them. Guys like you and I think it is a bargain and happily pay the price. You are not forced to drive a powerful vehicle that can pull a trailer full of r/c boats long distances to races. If the company you work for did not have a bottom line that showed "pure profit", you would not have a pay check. You could very easily decide to enjoy riding your bicycle to the park instead of going to the next race, then you will not have to endure a fill up at the gas station. I am tired of "profit" being portrayed as a four letter word in today's American society. PROFIT is what gets you out of bed everyday(M-F). When was the last time you said to your employer " I don't feel like collecting any profit today so I will work all day for free"? Sure these companies are making HUGE profits, THAT IS THE SOLE REASON THEY WERE CREATED. I remember when John and Andy were just gettting started in R/C boats. No one bitched or complained about the products they made or the things they did....Now that they are at "RECORD SIZE" for thier company, you have people taking pot shots at them left and right. A wise friend of mine once told me "you can't be out front with out a few arrows hanging out of your ass" How right he was.

 

[Don Ferrette]

I hear ya Eric and by no means is there anything wrong with making decent profits, that's what being in business is all about. With that being said what I do have a problem with is while we get handed this song & dance about how the recent weather events would make things tough on everyone, them included & then they post record profits far eclipsing the already huge amounts they clear when things were "normal" with refinery outputs & such??? There are people less fortunate than us who are making choices between eating & staying warm at night because their heating costs have more than tripled while big oil posts quarterly record breaking profits in the billions & billions of dollars. THAT is the part that is just not right in this.

 

[Ed.R]

Just like George Carlin says corporate america runs this country not the goverment .

You have to wonder how many politicians have there hands in oil companys and the companys that are helping rebuild Iraq .

How the hell about New Orleans or Texas . Screw Iraq and all other towel head countries.

 

[waltr]

Why would our government care.The're bringing in record profits also. Don't forget about the tax on gas and fuel oil.Especially state tax. Here in Michigan,The tax is based on a PERCENTAGE. The more expensive the fuel,the higher the tax. Seems to me,that could be adjusted for a little relief to the needy.

As our local government rakes it in too and with a smile.

How do the elderly on a fixed income cope with the elavated cost of fuel oil.THEY CAN'T! Also lower income familys. Don's right, some need relief,before it's too late.

Than the trickel down effect hits.

I'm a business owner with about 60 employees.I've been bombarded with requests for raises.All using the same reason,heating cost problems.I have to simpathize with them and do the best we can.And I'm constantly giving abnormal unscheduled raises.At the same time,watching my profits fall while the oil companys record,record profits.I'm in a competive business.I just can't raise my prices when I want to.Not an acceptable practice.

If I were to band together with all of my competitors and set prices,I'd be behind bars and trying to explain it to the Judge.PRICE FIXING is only acceptable when you have government officials in your back pocket.

Only my .02 cents and worth .01

 

[Preston_Hall]

truck load of stuff

You know Don well.
If CMD only profited $1 per item that Don bought, they would still be sittin fat. :lol:

 

[AndyBrown]

Better turn off these computers guys, because Intel and Yahoo are REALLY sticking it to us!

Profit margin

In fairness, Market Dispatches should note that Exxon's net profit margin (10.7% for the quarter and 9.7% for the year) is actually fairly moderate. Consider:

Despite disappointing Wall Street with its fourth-quarter report, chip-maker Intel's (INTC, news, msgs) net profit margin was 24.5% for the fourth quarter and 22.4% for the year.

Internet giant Yahoo! (YHOO, news, msgs) had a net profit margin of 36% for the fourth quarter and 34% for the year.

Standard & Poor's estimates the 2005 net profit margin for the S&P 500 at 8.2%.

 

[Tom Foley]

I am in a similar business as Waltr and although my operation hovers between 7 and 10 employees , our profit percentage is similar as in hard to deal with . Our markets simply will not tolerate constant adjustments to cover increased material costs and inflation that is out of control . Employees , justifyably expect raises every year to at least cover inflation . With insurance costs totally out of control it is very hard , and **** near impossible to keep a small business that requires highly skilled , long term employees on in hard times , operating . Our material costs are insane with zero tolerance for mistakes , a profit margin of 5 to 10 percent is typical . When a customer comes in and is floored by the price of a Tee Top or similar product , they have to realize that these products are built in America by Americans who are trying to live as humans with a decent standard of livng in a country that is used to walmarrt made in china pricing . Third world economies can operate at insanely cheap wages because there is no choice , work cheap or starve . I am not an economist but I have been operating my own small business for 20 years and have never layed off a core employee . It aint easy . Tom Foley

 

[waltr]

Well, you've got a point andy,but,the way I see it,the taxes do compound the problem.

Also, the heavy hitters,Intel,Yahoo etc... really aren't necessities.The're by choice for the people who could afford such extras.Fuel oil is a necessity and by people who can not afford to play with toys.

That's why it's so noticable.I'm concerned about the elderly that can't afford to keep that thermostat at least 68*.Not 58*or less.

And we need something to bit_h about.

 

[waltr]

I am in a similar business as Waltr and although my operation hovers between 7 and 10 employees , our profit percentage is similar as in hard to deal with . Our markets simply will not tolerate constant adjustments to cover increased material costs and inflation that is out of control . Employees , justifyably expect raises every year to at least cover inflation . With insurance costs totally out of control it is very hard , and **** near impossible to keep a small business that requires highly skilled , long term employees on in hard times , operating . Our material costs are insane with zero tolerance for mistakes , a profit margin of 5 to 10 percent is typical . When a customer comes in and is floored by the price of a Tee Top or similar product , they have to realize that these products are built in America by Americans who are trying to live as humans with a decent standard of livng in a country that is used to walmarrt made in china pricing . Third world economies can operate at insanely cheap wages because there is no choice , work cheap or starve . I am not an economist but I have been operating my own small business for 20 years and have never layed off a core employee . It aint easy . Tom Foley

Hey Tom,

I don't even want to go there.I try to leave that at the office to aviod ulsers.

When I can buy an imported stainless fabricated part,finished,shipped to me from overseas,packaged ready for me to ship to my customer,CHEAPER THAN I CAN BUY THE METERIAL FOR in this country.WE HAVE A PROBLEM HERE!

But, I really don't want to steal Ferrettes thread. Oops,Maybe too late.

Sorry Don,This was an oil co.thread.

 

[Don Ferrette]

I am in a similar business as Waltr and although my operation hovers between 7 and 10 employees , our profit percentage is similar as in hard to deal with . Our markets simply will not tolerate constant adjustments to cover increased material costs and inflation that is out of control . Employees , justifyably expect raises every year to at least cover inflation . With insurance costs totally out of control it is very hard , and **** near impossible to keep a small business that requires highly skilled , long term employees on in hard times , operating . Our material costs are insane with zero tolerance for mistakes , a profit margin of 5 to 10 percent is typical . When a customer comes in and is floored by the price of a Tee Top or similar product , they have to realize that these products are built in America by Americans who are trying to live as humans with a decent standard of livng in a country that is used to walmarrt made in china pricing . Third world economies can operate at insanely cheap wages because there is no choice , work cheap or starve . I am not an economist but I have been operating my own small business for 20 years and have never layed off a core employee . It aint easy . Tom Foley

Hey Tom,

I don't even want to go there.I try to leave that at the office to aviod ulsers.

When I can buy an imported stainless fabricated part,finished,shipped to me from overseas,packaged ready for me to ship to my customer,CHEAPER THAN I CAN BUY THE METERIAL FOR in this country.WE HAVE A PROBLEM HERE!

But, I really don't want to steal Ferrettes thread. Oops,Maybe too late.

Sorry Don,This was an oil co.thread.

Nah, it's wide open now, go for it!!! I think the point is being established that oil is not an "extra" that a less fortunate can do without!

 

[AndyBrown]

Well, you've got a point andy,but,the way I see it,the taxes do compound the problem.

Also, the heavy hitters,Intel,Yahoo etc... really aren't necessities.The're by choice for the people who could afford such extras.Fuel oil is a necessity and by people who can not afford to play with toys.

That's why it's so noticable.I'm concerned about the elderly that can't afford to keep that thermostat at least 68*.Not 58*or less.

And we need something to bit_h about.

I agree, there is no reason for the government to collect windfall taxes, just because the price of crude oil is up. Most of us still drive on the ragged out roads regardless of how much money the local governments colect from these extra tax profits.

 

[Mark Poole ModVP]

I have no problem with profits. What I have a problem with is profits that cross generations and burden the masses who have to pay for those profits. Fuel runs the world and has for the last 100 years. It is something that we all need in this mechanized world. In the 21st century it is not enough for the oil company brass to make themselves rich and know that their children will have a rich lives....no....they have to make themselves STINKING RICH and their children, grand children and great grand children STINKING RICH at the expense of those (us) who need what they control. So there you have it, future generations of those who will never have to work and then the working people hoping that they can have future generations.

 

[waltr]

As we all know,we rely on oil supplies way too much.Alternative fuels are comming.Just not quick enough.

For now,shouldn't we have been given a few oil fields in the Middle East as partial repayment FOR SAVING THERE ASSES!

I think so.

Ungratefull SOBs. :angry:

Again just my .02 cents worth .01

 

[ALLAN YUEN]

:blink: Shame GM dept budget cut off 25,000 employers also spend waste money white collars employers. Ford dept budget cut off 30,000 employers also Big sucker!!waste too many SUVs and Trucks Blame to high oil price so They were focusing work project Hybrids vehicles $$$ in North American this year. :unsure:

 

[Duck899]

Here in Alberta we all just received what the government calls 'prosperity cheques', $400 for every man, woman and child residing in Alberta. The boom is on here......The money this government receives from oil revenue is staggering.....At least they gave some back..... Now, what to do with the $1600 our family received?......

Cheers.....

 

[MarkScott]

Believe me when I say this. The company I work for is screwing all the workers (current and retired) to no end. In the past, they kept touting that you need to look at the big picture. You might not get the raise now, but you will have fully paid medical and a retirement package when you do retire. Guess what, now the retires have to pay for their own medical (which they may not have in the near future) and now they took the retirement package away. This is for even those that have already retired. Why? So they can get their grubby little hands on the $48 BILLION sitting in the retirement fund. I haven't gotten a raise in 3 years while the CEO recieved a $8 MILLION bonus last year.

I'm just doing time before they move my job to either India, Brazil or Mexico.

 

[ALLAN YUEN]

Here in Alberta we all just received what the government calls 'prosperity cheques', $400 for every man, woman and child residing in Alberta. The boom is on here......The money this government receives from oil revenue is staggering.....At least they gave some back..... Now, what to do with the $1600 our family received?......

Cheers.....

Too Me Alberta already paid off from Debt so Cowboys and Cowgirls become BIG RICH OIL!!

 

[tracerbob]

And the robber barons of the world get richer at our expence. <_<

 

[JKramer]

Here is another side to look at. A bottle of water and gasoline is near the same price. When you look at the expense to produce the gasoline and the amount of tax on it, as to what it cost to produce the bottle of water (which in most cases is no better than tap water), who is screwing WHO?