dc10s4ever
Posts: 700
Joined: Fri Dec 09, 2005 3:46 am

Exon Earns $10,700,000,000.00 In 4Q

Mon Jan 30, 2006 11:31 pm

Well ExonMobile earned a whopping $10.7b in 4th quarter.

http://www.usatoday.com/money/compan...rnings/2006-01-30-exxonmobil_x.htm
 
Boeing Nut
Posts: 5078
Joined: Fri Feb 23, 2001 2:42 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Mon Jan 30, 2006 11:54 pm

Why am I NOT surprised?  irked 
I'm not a real aeronautical engineer, I just play one on Airliners.net.
 
dc10s4ever
Posts: 700
Joined: Fri Dec 09, 2005 3:46 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 12:04 am

I was just watching CNN, their annual profit was HIGHER than the GNP of several countries. To some extent we only can blame ourselves. A soccer mom does NOT need to be driving around town in a Hummer.
 
yooyoo
Posts: 5686
Joined: Wed Nov 26, 2003 5:01 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 12:09 am

Quoting Dc10s4ever (Thread starter):
Well ExonMobile earned a whopping $10.7b in 4th quarter.

Good for them
I am so smart, i am so smart... S-M-R-T... i mean S-M-A-R-T
 
beefstew25
Posts: 581
Joined: Fri Sep 30, 2005 11:40 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 12:13 am

Does anyone know how much they lost in the eighties?

Lets pile on and bash a company for doing what they are supposed to do: make a profit.

I guess I can make the simple yet true argument. If the profit margin upsets you, buy a nice bike or a comfortable pair of shoes.
MLB: Where you are always number one for takeoff.....
 
Matt D
Posts: 8907
Joined: Fri Nov 19, 1999 6:00 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 12:15 am

I agree. Good for them. Oil companies: love 'em or hate 'em. No one forced you to be a single person driving a $40,000 car that gets maybe 12 mpg to drive an 80 mile suburban commute. Or get into hock to the tune of fifty grand because you just had to have that plasma TV, the state of the art cell phones, the designer clothes, the landscaped yard, eating out every night, and just overall living beyond your means.

And for those who say that even a $.05 increase in gas prices will, for some people mean the difference between eating or not eating, all I can say is:

you shouldn't have had so many kids or gotten yourself in debt.

Say what you want about gas prices: As long as people continue paying them, there is no reason to expect them to come down.
 
slider
Posts: 6814
Joined: Wed Feb 25, 2004 11:42 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 12:34 am

The black gold stranglehold continues....

No new refineries will be built because increasing supply would be bad for profits. As long as they keep the politicians in their back pocket--which looks like a safe bet, nothing will change.

I don't begrudge any company for being profitable and don't like playing the class envy card, but I DO have a problem with rapacious capitalism, and that's what this is.
 
erikwilliam
Posts: 2122
Joined: Fri Mar 12, 2004 12:30 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 12:53 am

The high oil price had to be good for at least someone, or it would make no sense at all.

Quoting YooYoo (Reply 3):
Good for them

nop, good for the share holders.
Dida, Cafu, Lucio, Roque Junior, Roberto Carlo, Emerson, Ze Roberto, Ronaldinho, Kaka, Adriano, Robinho, Ronaldo
 
Pope
Posts: 3995
Joined: Thu Mar 24, 2005 5:57 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 1:02 am

Quoting Matt D (Reply 5):
you shouldn't have had so many kids or gotten yourself in debt.

 checkmark   checkmark   checkmark   checkmark 

Your rights end when you stick your hand in my wallet.
Hypocrisy. It's the new black for liberals.
 
Kohflot
Posts: 941
Joined: Wed Sep 29, 1999 5:31 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 1:14 am

According to the Yahoo article I just read, their annual profit (over $36 billion) is larger than the economies of 125 nations around the world.

The issue (for me anyway) is not the fact that they've made this money.. as I said after their last earnings announcement, there are just too many problems in the world that could be nearly solved if they were to donate just *a tenth* of what they earned.

Imagine what $3.6 billion would do for hunger, for access to clean water, for vaccinations, for endangered species, for education, for medical research, or for Katrina victims.

Unfortunately, we live in a time when money is apparently more important than life itself.
Ask why..
 
stuckinMAF
Posts: 1022
Joined: Tue Oct 25, 2005 9:49 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 1:17 am

I agree completely, good to them for making a profit! And I already know I will take a lot of heat from the lefties because I am in oil country, that apparently makes me an accomplice.
"A fear of weapons is a sign of retarded sexual and emotional maturity" -Sigmund Freud
 
ArmitageShanks
Posts: 3766
Joined: Tue Dec 30, 2003 5:30 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 1:18 am

Quoting YooYoo (Reply 3):
Quoting Dc10s4ever (Thread starter):
Well ExonMobile earned a whopping $10.7b in 4th quarter.

Good for them

Ditto.
 
Boeing Nut
Posts: 5078
Joined: Fri Feb 23, 2001 2:42 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 1:22 am

Quoting Matt D (Reply 5):
I agree. Good for them. Oil companies: love 'em or hate 'em. No one forced you to be a single person driving a $40,000 car that gets maybe 12 mpg to drive an 80 mile suburban commute. Or get into hock to the tune of fifty grand because you just had to have that plasma TV, the state of the art cell phones, the designer clothes, the landscaped yard, eating out every night, and just overall living beyond your means.

And for those who say that even a $.05 increase in gas prices will, for some people mean the difference between eating or not eating, all I can say is:

you shouldn't have had so many kids or gotten yourself in debt.

Say what you want about gas prices: As long as people continue paying them, there is no reason to expect them to come down.

As much as I hate the fact that they made so much for the wrong reasons, there isn't a damned thing I could say to argue this statement.  checkmark 
I'm not a real aeronautical engineer, I just play one on Airliners.net.
 
Pope
Posts: 3995
Joined: Thu Mar 24, 2005 5:57 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 1:52 am

Quoting Kohflot (Reply 9):
Imagine what $3.6 billion would do for hunger, for access to clean water, for vaccinations, for endangered species, for education, for medical research, or for Katrina victims.

But one has nothing to do with the other.

Exxon's profits didn't cause hunger, didn't deprive people of clean water, didn't deny anyone vaccination and didn't cause Katrina. 3.6 Billion dollars could also go to stopping the spread of AIDS, funding cancer research or supporting orphans.

There are literally thousands of worthy ways to spend $3.6B, but that not what Exxon's board of directors gets paid to do. They get paid to look after the interest of their shareholders.

Companies are entitled to make money. The best way to fund all the worthy causes you list above is for shareholders to get distributions from the company and then choose to suppor the causes they select. It should not be the role of a government in a capitalist economy to arbitrarily draw the line and penalize companies for being successful.

Best I know, Exxon complied with a myriad of laws in earning these profits, they should benefit from that.
Hypocrisy. It's the new black for liberals.
 
L-188
Posts: 29881
Joined: Wed Jul 07, 1999 11:27 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 2:03 am

And they still are pissing and moaning about that 4.5 billion dollar punitive damages award that the courts ordered to Alaskan Fishermen impacted by the Exxon Valdez.

Just a week ago they appealed again trying to get it reduced to 40 million I think.
OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
 
beefstew25
Posts: 581
Joined: Fri Sep 30, 2005 11:40 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 3:13 am

Quoting Kohflot (Reply 9):
if they were to donate just *a tenth* of what they earned.

They did...it is called a 40% tax rate. The more they make, the more taxes they pay.

People like you that enjoy to loot from others (or as some call it: redistribution of wealth) need to look in the mirror....Will you donate 10% of your gross profits this year, on top of your taxes?
MLB: Where you are always number one for takeoff.....
 
slider
Posts: 6814
Joined: Wed Feb 25, 2004 11:42 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 3:23 am

Quoting Pope (Reply 13):
It should not be the role of a government in a capitalist economy to arbitrarily draw the line and penalize companies for being successful.

This is true, but where my von Mises economic leanings stop is where I intellectually realize that their profits are made at the expense of an artificially created shortage vis a vis constrained refining capacity, irrational market behavior (oil futures), and they exploit it to the fullest extent.

I freely admit my bias as an airline employee here, as well...
 
Pope
Posts: 3995
Joined: Thu Mar 24, 2005 5:57 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 3:30 am

Quoting Slider (Reply 16):
This is true, but where my von Mises economic leanings stop is where I intellectually realize that their profits are made at the expense of an artificially created shortage vis a vis constrained refining capacity, irrational market behavior (oil futures), and they exploit it to the fullest extent.

I freely admit my bias as an airline employee here, as well...

How were the shortages "artificially" created? Did the Hurricanes (Katrina and Rita) not shut down 1/3 of US oil production? Did these storms not take off line almost 50% of US refinery capacity? Did demand fall during this period?

Who participates in the oil future markets? Are you advocating that the future markets be regulated to prevent speculation?
Hypocrisy. It's the new black for liberals.
 
md80fanatic
Posts: 2365
Joined: Tue Apr 13, 2004 11:29 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 3:32 am

Now you know who to blame when your wonderful airline job vanishes.

Next time, don't vote for freaking oilmen (and women) for office, okay.
 
MaverickM11
Posts: 15327
Joined: Thu Apr 06, 2000 1:59 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 3:45 am

Quoting MD80fanatic (Reply 18):
Now you know who to blame when your wonderful airline job vanishes.

Jetblue has had higher profit margins than Exxon, what can I blame jetBlue for?
E pur si muove -Galileo
 
slider
Posts: 6814
Joined: Wed Feb 25, 2004 11:42 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 4:14 am

Quoting Pope (Reply 17):
How were the shortages "artificially" created?

The fact that there hasn't been a new refinery built in the US in almost 30 years tells you everything you need to know. That fact alone is a greater bottleneck than any of the events that occasion them (hurricanes, etc).

Quoting Pope (Reply 17):
Are you advocating that the future markets be regulated to prevent speculation?

Not at all.

I'm not advocating anything really...I'm honestly perplexed about what solutions exist. Mike Boyd made several good comments about this in his most recent column today (www.aviationplanning.com).

What I'm saying is that the O&G industry and oil futures flucutate on a far more wild and irrational level than any other. Markets are supposed to be rational, no?

If the true economics of the matter dictated such high prices, and the supply/demand equation required it, I'd be fine with their profits. But their actions are rapacious, plain and simple.

Someone in the Middle East hiccups, and the prices escalate rapidly and insanely. Yet the reverse is never true--it's a one way ratchet. that's NOT driven by market forces, period.
 
Boeing Nut
Posts: 5078
Joined: Fri Feb 23, 2001 2:42 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 4:15 am

But JetBlue did not make 10.7 billion in profits in the fourth quarter.
I'm not a real aeronautical engineer, I just play one on Airliners.net.
 
MaverickM11
Posts: 15327
Joined: Thu Apr 06, 2000 1:59 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 4:18 am

Quoting Boeing Nut (Reply 21):
But JetBlue did not make 10.7 billion in profits in the fourth quarter.

You're right, it made MORE money per dollar of revenue than Exxon did this quarter, especially early in its existence.
E pur si muove -Galileo
 
Pope
Posts: 3995
Joined: Thu Mar 24, 2005 5:57 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 4:26 am

Quoting Slider (Reply 20):
The fact that there hasn't been a new refinery built in the US in almost 30 years tells you everything you need to know. That fact alone is a greater bottleneck than any of the events that occasion them (hurricanes, etc).

But that shortage isn't created by the oil companies. That issue is a problem of too many NIMBY's and too much state regulation.

Quoting Slider (Reply 20):
Someone in the Middle East hiccups, and the prices escalate rapidly and insanely. Yet the reverse is never true--it's a one way ratchet. that's NOT driven by market forces, period.

The volatility of a commodity who's aggregate global demand is so closely matched to max short term supply is always going to be greater than one where it is possible to quickly adjust output. That's precisely the issue that I think gets ignored when debating the ANWAR issue.

While it is true that drilling in ANWAR would represent between 1% and 5% (depending on whose figures you accept) of global crude demand, it would represent between 4% and 10% of US crude demand. The key is to put a little bit of wiggle room into the mix so that short term hiccups (or even rumors of hiccups) don't cause disruption in the market due to speculation.

The supply and demand balance is so simple but people choose to ignore it in so many situations that it's ridiculous. You've got movie starts going around let crazy trying to keep paparazzi from taking pictures of their children. The photographers are chasing them because everyone want to be the first one to sell a picture of the celeb with their newborn. The market demand for that picture is so high that the price skyrockets.

If the celeb simply published their own pictures of the child, the demand for that "first" picture of the kid would disappear, the price a publisher would pay for it would fall and at lot less photographers would be chasing that picture.
Hypocrisy. It's the new black for liberals.
 
Kohflot
Posts: 941
Joined: Wed Sep 29, 1999 5:31 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 4:32 am

Quoting Pope (Reply 13):
There are literally thousands of worthy ways to spend $3.6B, but that not what Exxon's board of directors gets paid to do. They get paid to look after the interest of their shareholders.

Which exactly conforms to my last point. We've become a culture that believes in the almighty power of money. Nothing else touches it, not even suffering.
Ask why..
 
ORFflyer
Posts: 3142
Joined: Sat Apr 09, 2005 2:42 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 5:31 am

Quoting YooYoo (Reply 3):
Good for them



Quoting Erikwilliam (Reply 7):
nop, good for the share holders.

 checkmark   checkmark   checkmark 

Good for both groups. They are not a non-profit orgainization. They are in business to make money. The Jetblue example is excellant, they are making more on the dollar that Exxon, but nobody's complaining about that. Southwest is another example.
 
md80fanatic
Posts: 2365
Joined: Tue Apr 13, 2004 11:29 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 5:50 am

Quoting MaverickM11 (Reply 19):
Quoting MD80fanatic (Reply 18):
Now you know who to blame when your wonderful airline job vanishes.

Jetblue has had higher profit margins than Exxon, what can I blame jetBlue for?

You can play creative math all day, no problem. Airline flight is not a commodity, it's a privilege.

I have a great idea!!!! Keep buying those huge SUVs and support our President, his staff, and his extremely wealthy family. The ole' boyz network needs you to send your beloved offspring to war, while at the same time purchasing as much gas as your can burn....it's for the country. Be a good American.
 
MaverickM11
Posts: 15327
Joined: Thu Apr 06, 2000 1:59 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 7:20 am

Quoting MD80fanatic (Reply 26):
You can play creative math all day,

It's not creative at all; it's comparing apples to apples, ie the profit generated per dollar of revenue.
E pur si muove -Galileo
 
prebennorholm
Posts: 6430
Joined: Tue Mar 21, 2000 6:25 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 7:47 am

Quoting Kohflot (Reply 9):
...as I said after their last earnings announcement, there are just too many problems in the world that could be nearly solved...

One of the problems which is going to be solved first is rebuilding over the next couple of years of the destroyed and damaged oil rigs in the Gulf.

Maybe I should offer to pay for that? It might make the Exxon shareholders happy.
Always keep your number of landings equal to your number of take-offs
 
prebennorholm
Posts: 6430
Joined: Tue Mar 21, 2000 6:25 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 8:22 am

Quoting L-188 (Reply 14):
And they still are pissing and moaning about that 4.5 billion dollar punitive damages award that the courts ordered to Alaskan Fishermen impacted by the Exxon Valdez.

Dear L-188, this must be seen in a bigger picture. Exxon has already benefited enormously from this completely out of hand slap in their face. It has effectively kept minor competitors out of that business segment because they can't pay the insurance fees.

Exxon is large enough to be its own insurance company. They are established in that business segment. And during the last few years they could dictate the prices.

And it continues! Long live jackpot justice!  bigthumbsup 

It is really "funny" that Exxon in any case ends up earning billions on the Valdez disaster. But it's an absolutely normal result when the jackpot justice disease virus hits market economy.
Always keep your number of landings equal to your number of take-offs
 
md80fanatic
Posts: 2365
Joined: Tue Apr 13, 2004 11:29 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 8:31 am

Quoting MaverickM11 (Reply 27):
Quoting MD80fanatic (Reply 26):
You can play creative math all day,

It's not creative at all; it's comparing apples to apples, ie the profit generated per dollar of revenue.

No it is not apples to apples. Oil is something we must purchase, like food. It is a commodity. If Del Monte made the same profit margin selling apples that all the school districts use to make applesauce, while the price of the applesauce increased 400% over four years (without a corresponding increase in the cost to produce apples), that would be criminal.

So yes Mr. petrol stockholder.....this news is about criminal activity sanctioned from the highest seats of elected government.
 
bushpilot
Posts: 1674
Joined: Tue Jul 17, 2007 4:37 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 8:45 am

Quoting Kohflot (Reply 9):
Unfortunately, we live in a time when money is apparently more important than life itself.

That is the capitalist way, sometimes it sucks, but that is the system most of the world lives under.

Quoting Pope (Reply 13):
It should not be the role of a government in a capitalist economy to arbitrarily draw the line and penalize companies for being successful.

I agree, the taxes they pay are enough, and unlike walmart or other retail type businesses the oil companies pay thier employees well with solid benefits packages. At least here in AK they do.

Im not against any company making money, that is thier sole purpose for exsisting. But Exxon as L-188 says, they are still moaning about a $4b settlement that as far as I know still hasnt been paid out even though that was over 15 years ago. The wreck of the Exxon Valdez was complete negligence by the captain of the tanker and that company ruined the livelyhoods of thousands of people in this state and that oil spill was the downfall of many Alaskan commercial fisheries in the 90s. My anger with oil companies does not fall with the companies as much as the politicians who ride comfortably in the pocket of the oil execs, this is true for BP, exxon and any of the other domestic petroleum companies.
 
MaverickM11
Posts: 15327
Joined: Thu Apr 06, 2000 1:59 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 9:01 am

Quoting MD80fanatic (Reply 30):
If Del Monte made the same profit margin

Del Monte had a profit margin of 5% for the twelve months ending in July. However, Alico Inc., a similar business had a profit margin of 11.5%, higher than Exxon did for the fourth quarter. General Mills, another food service company, had a profit margin of 9.4%--slightly less than Exxon's 4Q showing. Moreover, Exxon has had higher profit margins in the past, when the price of oil was much lower.

Quoting MD80fanatic (Reply 30):
So yes Mr. petrol stockholder.....this news is about criminal activity sanctioned from the highest seats of elected government.

No this is just the latest and most tired manifestation of yours and others' tirade against the oil business.
E pur si muove -Galileo
 
MD-90
Posts: 7835
Joined: Mon Jan 17, 2000 12:45 pm

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 9:45 am

You can't blame the company for Wall Street traders bidding oil futures up and up and up.

You also can't blame them for not trying to build a new refinery in the USA since 1976 (several have also closed since then).


Now's a good time to be buying oil and uranium stocks, although stocks denominated in dollars are of course higher risk.

[Edited 2006-01-31 01:46:01]
 
N5176Y
Posts: 309
Joined: Tue Mar 01, 2005 10:39 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 9:50 am

Quoting MD80fanatic (Reply 30):
If Del Monte made the same profit margin selling apples that all the school districts use to make applesauce, while the price of the applesauce increased 400% over four years (without a corresponding increase in the cost to produce apples), that would be criminal.

Del Monte doesn't sell apples.
 
User avatar
EA CO AS
Posts: 13503
Joined: Wed Nov 14, 2001 8:54 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 10:00 am

Quoting MD80fanatic (Reply 18):
Now you know who to blame when your wonderful airline job vanishes.

Next time, don't vote for freaking oilmen (and women) for office, okay.

Kindly explain to me what a Democrat president and a Democrat-controlled Congress would or even COULD do to lower the prices of a commodity like oil.
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan

Comments made here are my own and are not intended to represent the official position of Alaska Air Group
 
DC10GUY
Posts: 2590
Joined: Fri Feb 18, 2000 5:52 am

RE: Exon Earns $10,700,000,000.00 In 4Q

Tue Jan 31, 2006 10:55 am

Making a profit is good, A US government backed monopoly is bad... Ask any crippled kid in Iraq.
Next time try the old "dirty Sanchez" She'll love it !!!

Who is online

Users browsing this forum: PacificBeach88 and 8 guests