Then spread it around
Exxon-Mobil announced that it had made the greatest profits of any corporation in the history of the world: $14 billion in one quarter. That’s all your money.
Funny thing is, uh, it’s not your money. See, you exchanged your money for goods and services.
October 31st, 2008 at 2:59 pm
That’s change we can believe in!
When Obama takes over, I will get free gas, and money…and gas money….
October 31st, 2008 at 6:39 pm
“See, you exchanged your money for goods and services.”
And Exxon/Mobil risked billions of its stockholders’ capital to make it possible to provide those goods and services. That is what a non-moron would call a legitimate return on investment
October 31st, 2008 at 11:35 pm
Actually, it is my money! (I am a shareholder)
I drives me crazy that this company is being demonized by Obama as the enemy. Hey, if they think that ExxonMobil is such a money machine they should be telling all the poor to suck up $50 a month and become stockholders. That’s partly how the rich got to where they are. Then every three months reinvest the dividend money……
November 1st, 2008 at 12:24 am
umm…Sarah Palin raised taxes on Exxon’s extraction of oil and gas from Alaska to give it back to the comrades..err…people.
November 1st, 2008 at 12:30 am
Its my money too!!!! (I am a shareholder).
You know what would be awesome – if Exxon ran an I Am Exxon campaign similar to the I AM The NRA campaign.
Dare I say though, that Obama is largely correct. Exxon is the biggest, richest, most successful, most profitable corporation in the world (it didn’t get that being a panty waisted liberal) and I’d be shocked if the vast majority of American’s didn’t actually have an ownership stake in it (whether directly or through their pension plan).
November 1st, 2008 at 4:00 am
and what of the money that the government has collected from the gas that was sold for that 14 billion? How much to big brother make at all levels of government off the taxes? Why hasn’t THAT money been spread around? What of the rest they take in from all the OTHER hidden taxes?
At least with the gas we get something for our money!
Manish, too bad you can’t read.
November 1st, 2008 at 9:31 am
In terms of raw profit amounts Exxon Mobil ranks pretty high.
But in terms of profit margin, you should check out the minions of Bill Gates.
$17,681,000,000 in Net Income from $60,420,000,000 in Gross Revenue, for a Net Profit Margin of 29.26% during Fiscal Year 2008.
Exxon Mobil got $40,610,000,000 Net Income from $404,552,000,000 in Gross Revenue. Sure, they got more than double in raw dollars of Net Income, but the Net Profit Margin was only 10.04%. (Fiscal Year 2007…I guess Exxon has a different Fiscal Year than Microsoft.)
If you compare Operating Margin, Return on Average Assets, and Return on Average Equity, Microsoft beats Exxon in term of percentage-rates in all categories.
So, which company has obscene profits? (Remember that you can’t download Exxon Mobil’s product for free from file-sharing sites, nor can you purchase it pirated in the streets of Taiwan…)
November 1st, 2008 at 11:39 am
Maybe the oil companies should mismanage themselves, lose money, reach the edge of bankruptcy and demand a bailout.
How Obama can get so many rubes to fall for his speel amazes me.
November 2nd, 2008 at 12:32 am
“How Obama can get so many rubes to fall for his speel amazes me.”
Well for one they fail to grasp the concept of profit margins vs. gross revenue.
The oil companies have terrible profit margins. The only reason their profits totals are still so high is because of the volume of product they sell. And why is that? Because the whole world buys and needs oil.
November 2nd, 2008 at 12:44 am
“How Obama can get…me.” Two words – government schools
November 2nd, 2008 at 2:47 pm
Uncle, your snark wouldn’t work very well if you included the next line Obama spoke: “You are paying it as the gas station.” And he mentioned the Exxon profits in the context of criticizing McCain’s plan to give $4 billion to oil companies to invest in alternative fuels.
November 2nd, 2008 at 5:20 pm
ok fruit, so Obama then disagrees with government funding development of new technology? He seems down with that kind of thing. Is it just that he wants to destroy existing business who has the R&D to work on something like that or what?
Also, when you QUOTE someone, it’s best to actually use the same words. “You are — you are paying it at the gas station.” Which does not change anything.
“Relief” as he says could be had be doing away with the federal gas tax (18.3 cents per gallon)that brought in God knows how much, as well as all the other taxes placed on it. If you can’t see that the government has got to big and has to keep adding tax after tax to everything to support all their unconstitutional promises and programs then you had better sit this election out.