User avatar
Revelation
Topic Author
Posts: 13757
Joined: Wed Feb 09, 2005 9:37 pm

Exxon Mobil Posts Biggest US Quarterly Profit Ever

Thu Oct 30, 2008 4:06 pm

... Again! ....

http://news.yahoo.com/s/ap/20081030/ap_on_bi_ge/earns_exxon_mobil

Quote:
Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.



Quote:
The previous record for U.S. corporate profit was set in the last quarter, when Exxon Mobil earned $11.68 billion.

In my opinon, the decision by the Bush Administration to let the Exxon/Mobil and Chevron/Texaco mergers go through was a huge mistake. There's next to no competitive forces in play to keep prices in check, and IMHO these obscene profits are the direct result.
Inspiration, move me brightly!
 
User avatar
scbriml
Posts: 13242
Joined: Wed Jul 02, 2003 10:37 pm

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Thu Oct 30, 2008 4:09 pm

Same old argument, they're still only making just over 10% profit.

The oil company I work for is "struggling" to get profit margins over 7.5%.
Time flies like an arrow. Fruit flies like a banana!
 
User avatar
nighthawk
Posts: 4766
Joined: Sun Sep 16, 2001 2:33 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Thu Oct 30, 2008 4:41 pm



Quoting Revelation (Thread starter):
There's next to no competitive forces in play to keep prices in check,

Oil is a global market, they compete against BP, Shell and all other oil companies. The price of oil is set on the world market - having few companies based in the US has little effect on this. Blocking the merger would not have made any difference.
 
LON-CHI
Posts: 204
Joined: Sun Apr 08, 2001 5:31 pm

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Thu Oct 30, 2008 4:59 pm



Quoting Revelation (Thread starter):
In my opinon, the decision by the Bush Administration to let the Exxon/Mobil and Chevron/Texaco mergers go through was a huge mistake. There's next to no competitive forces in play to keep prices in check, and IMHO these obscene profits are the direct result.

Well then, Exxon did a crappy job only profiting 10% if they had no competition.

I recently netted 13% ($250.00) on an option trade. Is that profit obscene, too?
 
mt99
Posts: 6166
Joined: Wed May 26, 1999 5:41 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Thu Oct 30, 2008 5:08 pm



Quoting Scbriml (Reply 1):
Same old argument, they're still only making just over 10% profit.

That has been their average profit margin. What was been their profit margin last year? and this quarter?
Step into my office, baby
 
User avatar
Revelation
Topic Author
Posts: 13757
Joined: Wed Feb 09, 2005 9:37 pm

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Thu Oct 30, 2008 6:46 pm



Quoting Nighthawk (Reply 2):
Oil is a global market, they compete against BP, Shell and all other oil companies. The price of oil is set on the world market - having few companies based in the US has little effect on this.

Yes, but not the price I pay at the pump. After the mergers, a lot of refining capability was taken away in the US, driving up prices.
Inspiration, move me brightly!
 
User avatar
Aaron747
Posts: 8527
Joined: Thu Aug 07, 2003 2:07 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 4:35 am



Quoting Revelation (Reply 5):
Yes, but not the price I pay at the pump. After the mergers, a lot of refining capability was taken away in the US, driving up prices.

I have a four-year return on a commercial real estate development trust India of 65%. Is that obscene too? I really get sick of people using extremely powerful words to describe things they personally disagree with. There's nothing obscene about a 10% profit on margin - get over it.
If you need someone to blame / throw a rock in the air / you'll hit someone guilty
 
mt99
Posts: 6166
Joined: Wed May 26, 1999 5:41 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 1:38 pm



Quoting Aaron747 (Reply 6):
There's nothing obscene about a 10% profit on margin - get over it.

Hs it really been 10% this year thought? I know it has in the past.
Step into my office, baby
 
mt99
Posts: 6166
Joined: Wed May 26, 1999 5:41 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 1:41 pm



Quoting Aaron747 (Reply 6):

I have a four-year return on a commercial real estate development trust India of 65%. Is that obscene too?

No. The difference is that pubic at large do not depend on your real estate development trust in India. The public does not have to buy (or whatever) you are involved in.

I am all for Exxon to make a profit. But there comes a point, when they should start giving more back to society
Step into my office, baby
 
User avatar
nighthawk
Posts: 4766
Joined: Sun Sep 16, 2001 2:33 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 3:09 pm



Quoting Mt99 (Reply 8):
I am all for Exxon to make a profit. But there comes a point, when they should start giving more back to society

Why should they? They made a relatively small profit margin, they owe it to their shareholders to increase the profit margin.

As it happens they work in a very expensive industry, the overhead costs for exploring, developing and producing the product are enourmous, the vast majority of this profit will be quickly swallowed up by expanding the business.

Our friend Aaron here made excessive profits in excess of 10% - shouldnt he be the one paying back his profits to society? (no offense to Aaron, who I believe is fully justified, as are Exxon, in making a profit!)

Quoting Mt99 (Reply 8):
No. The difference is that pubic at large do not depend on your real estate development trust in India. The public does not have to buy (or whatever) you are involved in.

So should we nationalise the oil industry and run it as a not for profit industry then? In any case the public does not have to buy oil - you could change your lifestyle to the point that you no longer need it - however you choose to live the lifestyle you do.
 
mt99
Posts: 6166
Joined: Wed May 26, 1999 5:41 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 3:18 pm

Quoting Nighthawk (Reply 9):
Why should they? They made a relatively small profit margin, they owe it to their shareholders to increase the profit margin.

Ive been asking what was the profit margin THIS year!. 10% has been in the past. What about THIS year?

Quoting Nighthawk (Reply 9):
So should we nationalise the oil industry and run it as a not for profit industry then?

No silly pants. We only do that for banks.. I do think that some form regulation may be beneficial to protect the general public - and the oil companies as well - from these wild oil swings

Quoting Nighthawk (Reply 9):
Our friend Aaron here made excessive profits in excess of 10% - shouldnt he be the one paying back his profits to society? (no offense to Aaron, who I believe is fully justified, as are Exxon, in making a profit!)

He shouldnt. At least he shouldnt be mandate by any laws. What i meant to say, is that as a member of society with a conscience "may look into" Giving some back.

Look at Bill Gates - how much money he makes, but how much good he does with it... Thats what i am talking about

[Edited 2008-10-31 08:24:17]
Step into my office, baby
 
User avatar
Dreadnought
Posts: 9803
Joined: Tue Feb 19, 2008 6:31 pm

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 3:26 pm



Quoting Mt99 (Reply 4):
That has been their average profit margin. What was been their profit margin last year? and this quarter?

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

Net profit margins:
Q3 07 - 9.2%
Q4 07 - 10.0%
Q1 08 - 9.3%
Q2 08 - 8.5%
Q3 08 - 10.8%

They had a good quarter, but hardly spectacular. Let's remember that Exxon has $400 billion in market cap - that's money that you and I have invested in it, probably via your 401K if you have it set up right.
Forget dogs and cats - Spay and neuter your liberals.
 
mt99
Posts: 6166
Joined: Wed May 26, 1999 5:41 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 3:38 pm



Quoting Dreadnought (Reply 11):
http://finance.yahoo.com/q/is?s=XOM

Net profit margins:
Q3 07 - 9.2%
Q4 07 - 10.0%
Q1 08 - 9.3%
Q2 08 - 8.5%
Q3 08 - 10.8%

Thanks.. Hmm.. maybe they do need those tax cuts!..
Step into my office, baby
 
PPVRA
Posts: 7864
Joined: Fri Nov 12, 2004 7:48 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 3:40 pm



Quoting Revelation (Thread starter):
There's next to no competitive forces in play to keep prices in check

Were it not next to impossible to get licenses to built the necessary infrastructure, we might have seen new entrants. Particularly with high oil prices.

Quoting Mt99 (Reply 8):
But there comes a point, when they should start giving more back to society

Exxon is a productive company, which means they give back to society more than they consume. You can't say the same of your average American knee-deep in debt because they bought huge cars and big screen TVs and McMansions when they could not afford it.
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
767Lover
Posts: 3254
Joined: Fri Sep 26, 2003 6:32 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 4:19 pm



Quoting Mt99 (Reply 10):
Look at Bill Gates - how much money he makes, but how much good he does with it... Thats what i am talking about

Yes, I agree Bill Gates does great things with his wealth...but keep in mind that his wealth is generated by creating expensive products that are people are beholden to paying for because they are proprietary and you're incompatible with business clients, etc without it.
 
slider
Posts: 6805
Joined: Wed Feb 25, 2004 11:42 pm

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 4:30 pm



Quoting Mt99 (Reply 8):
I am all for Exxon to make a profit. But there comes a point, when they should start giving more back to society

OK, Mr. Obama....your point is noted.

Quoting Mt99 (Reply 10):
Look at Bill Gates - how much money he makes, but how much good he does with it... Thats what i am talking about

By his CHOICE...that's the glory of a free market. He's free todo with it as he chooses.
 
PSA727
Posts: 845
Joined: Mon Feb 06, 2006 7:49 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 6:16 pm



Quoting Mt99 (Reply 8):
I am all for Exxon to make a profit. But there comes a point, when they should start giving more back to society

Well I believe that they will be paying about 43% of that profit in taxes. So is that giving back
to society? And why does everyone equate Oil companies with some group of greedy
individuals? They are publically traded companies. And many state and local pension plans
have stock investments in these companies because of their value.
fly high, pay low...Germanwings!
 
mt99
Posts: 6166
Joined: Wed May 26, 1999 5:41 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 6:20 pm



Quoting Slider (Reply 15):
By his CHOICE...that's the glory of a free market. He's free todo with it as he chooses.

Uh. thats what i said.. (see Reply 10)

Quoting PSA727 (Reply 16):
Well I believe that they will be paying about 43% of that profit in taxes.

I would love to see the proof of that.
Step into my office, baby
 
PPVRA
Posts: 7864
Joined: Fri Nov 12, 2004 7:48 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Fri Oct 31, 2008 9:07 pm



Quoting PSA727 (Reply 16):
Well I believe that they will be paying about 43% of that profit in taxes.

They already paid an enormous amount of corporate tax, which the US is one of the highest in the world. Now, dividend tax will be paid on top.
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
User avatar
Dreadnought
Posts: 9803
Joined: Tue Feb 19, 2008 6:31 pm

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Sat Nov 01, 2008 1:32 am



Quoting Mt99 (Reply 17):
I would love to see the proof of that.

Corporate tax of 35%, plus sales tax and gasoline tax on all that fuel, plus taxes on dividends, plus payroll taxes and income taxes earned by all their employees. I'd say the entire tax load is greater than 50%.
Forget dogs and cats - Spay and neuter your liberals.
 
Type-Rated
Posts: 3901
Joined: Sun Sep 19, 1999 5:18 am

RE: Exxon Mobil Posts Biggest US Quarterly Profit Ever

Sat Nov 01, 2008 2:32 am

ExxonMobil does do a lot of things for society!

They have consistently been the largest contributor to the local Houston United Way for the past 8 years.

They contribute a ton of money to the "Save the Tiger" fund.

They have an ongoing program with high school interns that work half a day and go to school half a day. On the job training.

They contribute funds to Hurricane stricken areas.

Not to bad for a company who likes to treat their employees like crap.
Fly North Central Airlines..The route of the Northliners!

Who is online

Users browsing this forum: Hillis, PacificBeach88 and 10 guests