Exxon Profit - $1.8 Billion in Three Months (Page 2): You must be like Bernie Sanders ... he rails against the big banks, big oil, and big pharma ..... however .... if you look at some...

DEBJENROB Loc: DELRAY BEACH FL

jerryc41 wrote:

Right. About 1.1% for the top 1.1%.

You must be like Bernie Sanders ... he rails against the big banks, big oil, and big pharma ..... however .... if you look at some of the investments he reported in his net worth statement ... if includes several mutual funds .... the top 10 holdings in many of these funds are Exxon, Wells Fargo and Pfizer ..... so by your definition he is really in the top 1 per cent .... check your investments .... if you are receiving a pension, check the assets held by the fund that provides you a monthly check .... do you consider yourself part of the 1 per cent ..... these very companies that you think take advantage of the system and don't pay their fair share actually allow you to live your lifestyle .... and by cameras ...

Dziadzi Loc: Wilkes-Barre, PA

jerryc41 wrote:

Exxon declared a quarterly profit of $1,800,000,000 for the last three months. While that might sound like a lot of money to some people, it's their lowest profit in 16 years. All the bills were paid, all the salaries were paid, all the research was done, and they had that much left over.

"Profit - the excess of returns over expenditure in a transaction or series of transactions; especially : the excess of the selling price of goods over their cost."

Now if only Congress would make them pay their fair share of federal income tax.

PACSMAN Loc: MA

Big deal - Apple's profit was 18 billion or $80,000 per minute for the quarter. Makes me smile when I see people protesting "big anything" profits while texting on their IPhone.

sb Loc: Florida's East Coast

I am sooo glad we are still giving THEM government subsidies! In our country socialism is only a good thing if it is for corporations

mancemd

Exxon made $1.9 billion last quarter and everyone beats up on them but I haven't seen a single post say they quit driving their cars. Google posts a $9.7 billion profit last quarter and not a peep from anyone. I'm happy they are both making profits and "driving" our economy forward. "Capitalism is the unequal sharing of rewards. Socialism is the equal sharing of misery."Churchill.

sb Loc: Florida's East Coast

DEBJENROB wrote:

You must be like Bernie Sanders ... he rails again... (show quote)

Yeah...Bernie's a hypocrite because he has mutual funds? Bernie's income is pretty much limited to his senate salary. No $600,000 speeches and sweetheart book deals. No bankruptcies and fake "universities". I am still waiting for the Donald to release his income taxes...

I am not against investment in corporations - we need that. But look at what is now happening on Wall Street. There are two main immoral ways that the millionaire class rapes the rest of us:

1. By gambling on commodities and stock options - this not only artificially inflates and deflates the price of commodities and the values of stocks, it is GAMBLING - and yet windfalls are not taxed as income.

2. Highly-compensated executives are paid with stock options, which may be creatively pre-dated (dated in the past). So, for example, stock options are created that would have been worth $1 million if originally purchased in 2012 but are worth $10 million today. The recipient sells these options for $10 million - pays income tax on the $1 million and capital gains tax of 10% on the extra $9 million. This is how even Warren Buffett pays a smaller percentage of income tax than his secretary. And even HE says this is unfair and needs to change. A few years ago he challenged ANY CEO who paid a higher income tax percentage than his secretary to come forward and prove that and he (Buffett) would donate $1 million to the charity of their choice. NO ONE stepped up!

One simple tax change that would increase fairness would be: Maintain capital gains tax beneficial rates on pure investments in stocks and bonds - which help corporations grow and create jobs - but charge full income tax on stock options and commodity trading. Just my opinion...

cjshh

Actually, it's the scale of operations that makes it look more lucrative than it really is. Exxon Mobile is the world's largest petroleum company. Stockholders have about $170 Billion invested in the company. So, that $1.8 Billion in profit is about 1.1% return on all that money invested. That's about 43 cents for each share of investment. Not so much if you put it into the right perspective.

:thumbup: :thumbup:

bobmcculloch Loc: NYC, NY

jerryc41 wrote:

Exxon declared a quarterly profit of $1,800,000,000 for the last three months. While that might sound like a lot of money to some people, it's their lowest profit in 16 years. All the bills were paid, all the salaries were paid, all the research was done, and they had that much left over.

"Profit - the excess of returns over expenditure in a transaction or series of transactions; especially : the excess of the selling price of goods over their cost."

Makes me wonder, how many of the jobs that are overseas could be brought back to the US? might be able to solve at least some of our unemployment problem. More employment= less public assistance in all of it's forms. I know , I'm dreaming, Bob.

bobmcculloch Loc: NYC, NY

ecblackiii wrote:

Actually, it's the scale of operations that makes it look more lucrative than it really is. Exxon Mobile is the world's largest petroleum company. Stockholders have about $170 Billion invested in the company. So, that $1.8 Billion in profit is about 1.1% return on all that money invested. That's about 43 cents for each share of investment. Not so much if you put it into the right perspective.

And exactly how much interest are your savings getting, rhetorical, I don't really want an answer.

boberic Loc: Quiet Corner, Connecticut. Ex long Islander

jerryc41 wrote:

Exxon declared a quarterly profit of $1,800,000,000 for the last three months. While that might sound like a lot of money to some people, it's their lowest profit in 16 years. All the bills were paid, all the salaries were paid, all the research was done, and they had that much left over.

"Profit - the excess of returns over expenditure in a transaction or series of transactions; especially : the excess of the selling price of goods over their cost."

Unless the total value of sales is known the number in and of itself is almost meaningless. What is the percentage of profit?

DEBJENROB Loc: DELRAY BEACH FL

sb wrote:

Yeah...Bernie's a hypocrite because he has mutual ... (show quote)

you left out the paid speeches by Medical Professionals on behalf of big pharma .... is there an ethical difference between a Doctor being paid by Pfizer to give speeches to other Doctors about a Pfizer product or being paid to appear in a TV commercial endorsing a companies product .... verses a political figure speaking before a group of financial executives ... no ....

richard-sports Loc: New York City

jerryc41 wrote:

Exxon declared a quarterly profit of $1,800,000,000 for the last three months. While that might sound like a lot of money to some people, it's their lowest profit in 16 years. All the bills were paid, all the salaries were paid, all the research was done, and they had that much left over.

"Profit - the excess of returns over expenditure in a transaction or series of transactions; especially : the excess of the selling price of goods over their cost."

And that is just what they admitted they got out of my pocket and your pocket.

DEBJENROB Loc: DELRAY BEACH FL

bobmcculloch wrote:

Makes me wonder, how many of the jobs that are overseas could be brought back to the US? might be able to solve at least some of our unemployment problem. More employment= less public assistance in all of it's forms. I know , I'm dreaming, Bob.

yes jobs can come back if we are willing to lower our representative standard of living .... a man goes into a store to by a pair of sneakers ... one is produced in China and cost $ 50 ... the shoe is made by New Balance .... next to it is the same style shoe made in the USA by New Balance but with a cost of $100 .... which shoe did he buy ...

camerapapi Loc: Miami, Fl.

Jerry we regulate the price of oil in the world market, not the Arabs. Gas companies are a monopoly and as such they regulate prices at will which has been demonstrated many times before.
Could they say there is a reason to the continuous rise in the price of gas? As far as I know there has not been anything lately in the world market that could explain the increase in price and whenever they have testified in Congress nothing significant has been the outcome. Just remember that approximately 44 cents of each gallon goes to taxes and the higher the gallon the more gas is taxed or so it seems.
We have the largest reserve of oil in the world but being a capitalist society we the taxpayers are paying the prices that are imposed on us.
Just a simple rant.

SBW

jerryc41 wrote:

Exxon declared a quarterly profit of $1,800,000,000 for the last three months. While that might sound like a lot of money to some people, it's their lowest profit in 16 years. All the bills were paid, all the salaries were paid, all the research was done, and they had that much left over.

"Profit - the excess of returns over expenditure in a transaction or series of transactions; especially : the excess of the selling price of goods over their cost."

So what? What, exactly is the problem with them making that profit? As a percentage of their revenue it is not much profit at all. What do you think happens to the profit, that they bury it on an island somewhere? That profit goes back to the investors, who justifiably expect a return on their investment. Do you have a problem with investors realizing a return on their investment? Or had you rather the profit go to the government?
The profit the oil companies make or any public company for that matter is returned to the investors and it also creates more jobs among other things. Are you against creating jobs? If so, why?

Wake up. That is capitalism at work and at it's finest. That capitalism is part of the reason you can sit on your rear with your PC that never would have been invented if it were not for profits and capitalism and whine about oil company profits and go on a rant because the satellite radio company charged you two more dollars this year than they did last.

If YOU are involved in any kind of pension or retirement fund there is a very good chance that you are invested in these companies that you rail on about making a profit. Since you seem to have such a problem with profit maybe you should be the one investor that they withhold profit from. Would that satisfy you? Would that make you feel better?

Wake up, grow up and get real. Stop being a hater.