Exxon Profits

[drbill]

The name sounds a bit too much like Enron to me! They were a sure fire cert investment as well weren't they?

Hey, don't knock FOG's. Just because thousands (maybe hundreds of thousands) lost their fortunes because of those whiz kids in charge at Enron is no reason to get angry!

 

[Peter Guy]

Anyone want to examine WHY Exxon-Mobile had such "huge" profits? Is it, perhaps, because they are the largest (or one of the largest) company in the world (as far as revenue is concerned)?

What level of profit would those who think M-E is "greedy" would be OK? 10% of Revenue? 5% of Revenue? 1% of Revenue? 25% of Revenue? What?

Is it the total amount of profit that is "bad" or just the profit as a percentage of revenue?

For the record, what do you think E-M's profitibility was as a percentage of revenue?

a. 50%

b. 25%

c. 10%

d. 5%

Answer:

For the year, E-M had a total revenue of:

$371 billion -- with earnings of $36.1 billion, that means E-M got a profit of just under 10 cents for every dollar of revenue -- that means it earned just under 10% profit.

Is that really "greedy?"

 

[Cacia]

nope.

This demonizing of profit seems to be a growing sentiment...it's scarey.

If profit doesn't provide the incentive, where will it come from? It won't, it never has.

 

[Mo2vation]

Ken, you're just a capitalist apologist... I won't dive with you any more (at least not until you came back out to Catalina! And bring Jaye and Claudette too.).

Oh, DrB:

I make no apologies for being a capitalist.



---
Ken


PS: Me and Chica will be out there for 3 days in March for our Quarterly doubles drill down. We're gonna try and get in 10 - 11 dives over those 3 days with the dubs, deco bottles, etc. We'll be going to the big V a couple of times to shot my nudi buddies!

 

[Wayward Son]

It's great news. That's almost $40 billion dollars flowing into our economy rather than going somewhere else.

 

[letterboy]

Anyone want to examine WHY Exxon-Mobile had such "huge" profits? Is it, perhaps, because they are the largest (or one of the largest) company in the world (as far as revenue is concerned)?

SNIP

$371 billion -- with earnings of $36.1 billion, that means E-M got a profit of just under 10 cents for every dollar of revenue -- that means it earned just under 10% profit.

Is that really "greedy?"

And yet microsoft is a monopoly. . .

 

[SparticleBrane]

As someone whose family owns some XOM, I'm estatic.
For those of you who would rather own a mutual fund or index fund over individual stocks and might not like XOM...too bad, there's a pretty good chance your fund has it, especially if it's an index fund.
For example, the Vanguard 500 index fund owns 54.3 million shares of XOM as of Dec 31 2006.
The Vanguard Total Market index fund owns 31.7 million shares of XOM.

For both of those, the 5 stocks they own the most ($-value) of are XOM, GE, C, MSFT, and BAC.

 

[covediver]

Don't buy their product. Go to a different gas station.

And don't forget to buy carbon offsets for all the travel we do to exotic places. I understand it is all the rage with the Hollywood crowd.

 

[H2Andy]

And don't forget to buy carbon offsets for all the travel we do to exotic places.

i keep giving out lumps of coal as christmas and birthday gifts

does that count?

 

[drbill]

Oh, DrB:

I make no apologies for being a capitalist.



---
Ken


PS: Me and Chica will be out there for 3 days in March for our Quarterly doubles drill down. We're gonna try and get in 10 - 11 dives over those 3 days with the dubs, deco bottles, etc. We'll be going to the big V a couple of times to shot my nudi buddies!

Wow, I thought you were a musician, not a capitalist. No need to apologize, Ken. Just teasing ya. Why, someday I hope to make a profit as well! I've been in the red so long now I'd love to be in the black... kind of like diving DIR!

Cool, maybe I'll head out to the "V" with you when you're out.

Catherine, you are right about motivation (no, not Ken... the drive that causes most people to work). Most people are motivating by self gratification, which isn't all bad. I find I am motivated by doing what I really think is important socially... and that ain't all "good."