And the profits roll......

What retirement?

 

I will find this and post the link. I had saved it for this stupid "their profits are too high argument", but can't find it. The percent profit was 9.7% (forgive my memory). This is total revenue less total costs / total revenue.

Not only did they record the highest profit, but probably the highest revenues ever, and probably the highest costs ever. Also, they probably paid the highest taxes ever to the US Gov't. The % of revenue they paid in taxes was more than the % profit.

Stop bit**ing and invest in the stock. Like Clif said leave my 401K alone.

In my business 9.7% would not get me fired, but I would have to explain to the boss why it was not higher. Big revenues= big profits.

Not a big deal.

 

Your right that it is not a big deal that these large multi-national corporations continue to grow bigger and damage the National Security and well being of this country.

 

Here ya go. According to my math, that's about 10.5%, so your memory was not off by much.

 

Ok, L-A-Z-Y .....

Here's your link. This is just for Exxon, and it's all of their official filings. The reportings filed w/ the SEC hold out about the profit. Crunch the numbers...

http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000034088&owner=include&count=40


Frogger

 

10.5% (thanks kdsgrandma) is not a big deal. Do we want all the employees that Exxon Mobile / Chevron/ BP / Shell / Conoco Phillips 76 employ to leave? We need these big companies. They are the ones that when gas/oil is really running out, will provide the soultions to keep the economy running.

 

So what do you want to do? Nationalize the oil industry? Are you for small government except when it impacts your pocketbook?

If you don't like the price find an alternative, and don't tell me they don't exist.

 

What ever the cost was they still made a multi billion dollar profit. Profit is profit!! No matter how you look at it.

 

The 39.5 Billion was the profit

 

You know we need to call someone because I actually agree with KDS and Pirate!!!

 

You know, at 10.5% profit, if the oil companies gave up all their profit, the price of $3.00/gal of gas would be $2.68/gal**


** This erroneously presumes that the money you pay at the pump goes only to the oil companies. It does not take into account the profit of the stations, distribution centers, transportation, refineries, and of course taxes. The last item, by the way, is about 1/5 of the price of gas at the pump. If we got rid of gas tax, the price of $3.00/gal of gas would be closer to $2.40.

 

In my opinion it is not just the oil companies that are guilty. The price of gasoline does have a profound impact on a lot of people, but it is symptomatic of a bigger problem. Look at these companies and the profits they are making. Where does the money go? Why do more and more companies force their employee's to cover more of the load on health insurance. Why do the Americans have less vacation time then the majority of the industrialized world? Capitalism is a grand thing, but there must be some accountability to the world and mankind. What about making the world a better place before you go. As much as I do not like Bill Gates business practices as least he is trying to do something with his obscene wealth.

 

But then what would we drive on?

 

Tell me, have you driven on NC roads? Where do the taxes go now?

 

The flaw here is trying to over generalize the profit. There are two extremes for a company to go for profits. The first is to go with a higher percentage of mark up and lower volume and the second is lower percentage of mark up and a higher volume. All companies use this basic formula in their price determination, if they do a calculation.

Like the old story about the blind men selling pencils, one sold them for a dime while paying a nickel each, while the other sold them for a million dollars each. The latter only had to sell one to survive.

 

Great point.

 

You do realize that you are paying out more than you will make off that investment? If the prices were dropped and you invested the difference you would come out much better than the current situation.

 

Does any of that REALLY matter?! CORPORATE GREED, is still CORPORATE GREED!!! And it is killing our country; the economy, our environment, and just the plain ole social fabric that use to be us!

I am NOT denying anyone the right to make a profit, but when is enough, enough. Oh, I know....with profit it's used to reinvest into the business...BULL! Look at the "profits" CEOs have been making! Look at their annual compensation packages! Hell...fire me and give me a few mil and stock options to walk away, after I've done such a rotten job!

It makes NO SENSE!

When is ENOUGH.....ENOUGH?

 

Discussing, pure profit numbers without discussing profit Margin is disingenuous. A company can have huge profits but their margin can be very low. Exxon's profit margin is usually in the neighborhood of .10 on the dollar. Target for example is closer to .20.

 

The real robbers are not the Oil cos. How much does the government take per gallon? Hmmmmmmmmm? Taxes are never obscene are they?