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Good for them, hope every year is a banner year. What you fail to note is that their profit margin is considerably lower than most other large or small businesses.
I think you should look at Profit Margin percentages. The percentage that they make is not out of whack with other companies in their sector. The fact is that they spend significantly more money than any other company, and that's why their returns are so high. Same Percentage (roughly) but higher dollar amount.
If their percentages were out of place, then Gov't intervention could be necessary, but since they aren't...
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A Canadian, on this forum, with good sense and cogent remarks? PTL, the age of miracles has not passed. Thank you JamesV, your socialist brethren have been giving your country a bad name. Welcome to this forum.
United States
http://www.usatoday.com/money/companies/earnings/2008-10-30-exxonmobil_N.htm
http://www.marketwatch.com/news/story/Exxon-Mobil-Corporation-Announces-Estimated/story.aspx?guid={A63943DA-E545-4814-A746-FE8941636B72}
Good for them, hope every year is a banner year. What you fail to note is that their profit margin is considerably lower than most other large or small businesses.
Point up for You!!!
Good for Exxon, the whole point of Capitalism is to make money.
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[3 points] 1 year ago by deleted user ReplyI think you should look at Profit Margin percentages. The percentage that they make is not out of whack with other companies in their sector. The fact is that they spend significantly more money than any other company, and that's why their returns are so high. Same Percentage (roughly) but higher dollar amount.
If their percentages were out of place, then Gov't intervention could be necessary, but since they aren't...
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[2 points] 1 year ago by deleted user ReplyI didn't?
Your question:
"at what point do you stop celebrating capitalism and starting getting pissed at corporate rip-offs?"
My response:
"If their percentages were out of place, then Gov't intervention could be necessary, but since they aren't..."
Is that not an answer? I didn't specify anything as a ripoff, but I think my response was pretty clear.
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[3 points] 1 year ago by deleted user ReplyThis comment has been moderated down. (Show Comment)
Actually, waugsie, you didn't get the answer that YOU wanted. You got an accurate response.
Thanks. I was pretty sure that was an answer.
In 2007, ExxonMobil had a net income of $40.61 billion on $404.552 of revenue, roughly 10% profit margin...
And I am not upset with their profits.
This seems reasonable to me. If I remember correctly from last time I looked into it, 8-10% was standard in the Energy Sector.
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I find your head to be hollow.
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[0 points] 1 year ago by deleted user ReplyI don't think I put bias either way on this question. Stated the profit, and simply asked if it was good or bad.
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[1 point] 1 year ago by deleted user ReplyThis comment has been moderated down. (Show Comment)
Exactly so.
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Exactly so
1st of all - IT WAS 3RD QUARTER PROFIT
What would happen if they were loosing money?
Isn't the idea of them making profit, a good thing? - in that they will do RESEARCH AND DEVELOPMENT _ IE CREATE JOBS AND WEALTH for North Americains.
The Tar sands in north Canada generates 250 thousand barrels of oil a day - a result of research - created by profit.
Do North Americans (let's stick together as brothers) really want to depend on those anti american OPEC nations?
ugggggggggggggggggggggggggggggggggggg
I pray they TRIPLE next quarter
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A Canadian, on this forum, with good sense and cogent remarks? PTL, the age of miracles has not passed. Thank you JamesV, your socialist brethren have been giving your country a bad name. Welcome to this forum.