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| Garygantzdotcom |
Exxon Posts Record Profit on Oil Prices
By JOHN PORRETTO,AP
Posted: 2008-02-01 09:47:44
Filed Under: Earnings
HOUSTON (Feb. 1) - Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company - $40.6 billion - as the world's largest publicly traded oil company benefited from historic crude prices at year's end.
By Don Ryan, AP
Exxon shattered the records for both the largest annual and quarterly profit for a U.S. company, with $40.6 billion and $11.7 billion respectively. The oil behemoth benefited from historic crude prices at year's end. Quote: XOM
Also See: Chevron Profit Also Soars on High Oil Prices
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
The eye-popping results weren't a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago.
Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since.
The record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.
Also extraordinary was Exxon Mobil's revenue, which rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago.
For the year, sales rose to $404.5 billion - the most ever for the Irving, Texas-based company - from the $377.64 billion it posted in 2006.
In a statement, Exxon Mobil Chairman Rex Tillerson said the company continued to meet the world's energy needs through its "globally diverse resource base."
"Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network," Tillerson said.
Exxon Mobil produces about 3 percent of the world's oil.
Its shares rose $1.45 , or 1.7 percent, to $87.85 in premarket trading.
Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.
2008-02-01 08:23:50
Is that shit or what ..we go broke..the get rich!! If your not mad...you are not paying attention! |
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| Seward |
| Tooooo f'ing long. zzzzzzzzzzzzzzz |
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| bluebronco |
High demand = high profit margins.
High cost of crude = high cost of manufacturing.
Blame the dirty Arabs. |
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| The Skratch |
| It is its own monster nobody can stop it, the people that can are getting rich so why should they? |
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| Sarcastro |
| I'm livid. How dare corporations make money for their shareholders. |
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| WhiteBoy |
| :ra: :vm: :mad: :realmad: |
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| zice |
| I do some freelance work there sometimes. Maybe I could sabotage(shatner pronunciation) their operations |
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| grandmasterbeta |
| Be mad at Bush - we're getting fucked by his buddies. This is what they elected that moron for. There's no real reason for the oil prices to be so high. The OPEC fuckers own the bush family. As for Exxon, probably should buy their stock... |
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| Bronks Breasts |
| The money should be seized.... |
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| zimmie |
| as soon as Bush is outta office gas will drop to 29 cents a gallon, your windows will be washed and you'll get a free Super Bowl glass. |
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| zimmie |
Quote: Originally posted by Bronks Breasts
The money should be seized.... |
is that you Hugo? |
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| Bronks Breasts |
| No,, but I wish we had such a great man leading this country. You know one that gives away barrels of oil for poor people in this country ? |
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| NC-Stern-Mark |
RETIREMENT PLANNING FOR 2008
If you had purchased $1,000.00 of Nortel stock one year
ago, it would now be worth $49.00.
With Enron, you would have had $16.50 left of the original
$1,000.00.
With WorldCom, you would have had less than $5.00 left.
If you had purchased $1,000 of Delta Air Lines stock you
would have $49.00 left
But, if you had purchased $1,000.00 worth of beer one year
ago, drank all the beer, then turned in the cans for the aluminum
recycling REFUND, You would have had $214.00.
Based on the above, the best current investment advice is to
drink heavily and recycle.
It's called the 401-Keg. |
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| emtfromny2 |
Quote: Originally posted by Garygantzdotcom
Exxon Posts Record Profit on Oil Prices
By JOHN PORRETTO,AP
Posted: 2008-02-01 09:47:44
Filed Under: Earnings
HOUSTON (Feb. 1) - Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company - $40.6 billion - as the world's largest publicly traded oil company benefited from historic crude prices at year's end.
By Don Ryan, AP
Exxon shattered the records for both the largest annual and quarterly profit for a U.S. company, with $40.6 billion and $11.7 billion respectively. The oil behemoth benefited from historic crude prices at year's end. Quote: XOM
Also See: Chevron Profit Also Soars on High Oil Prices
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
The eye-popping results weren't a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago.
Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since.
The record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.
Also extraordinary was Exxon Mobil's revenue, which rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago.
For the year, sales rose to $404.5 billion - the most ever for the Irving, Texas-based company - from the $377.64 billion it posted in 2006.
In a statement, Exxon Mobil Chairman Rex Tillerson said the company continued to meet the world's energy needs through its "globally diverse resource base."
"Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network," Tillerson said.
Exxon Mobil produces about 3 percent of the world's oil.
Its shares rose $1.45 , or 1.7 percent, to $87.85 in premarket trading.
Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.
2008-02-01 08:23:50
Is that shit or what ..we go broke..the get rich!! If your not mad...you are not paying attention! |
I'm mad I have Sirius stock instead of Exxon Mobil! :punch: |
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| Snoopyrules |
| Isn't about time we started looking at nuclear energy again. There is no reason why shouldn't be almost 100% at this point. It's the cleanest energy and the guidelines for safety have improved siginfigantly since the last plant was built. I don't understand how complaints about foreign dependancy and anger at Exxon's profits can continue while this scientific answer is universally dismissed by the same people screaming for all the things it solves. If you could power all our homes with this power while pushing for more hybrid and energy efficienct cars that can run on biofuel, than the demand for foreign oil goes down dramatically. |
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| zimmie |
| I agree. Let's build a nice new nuclear power plant in Cliffside Park. OK? |
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| booybob |
400 billion in sales
40 billion in profit
10% profit margin.
40 Billion is a lot of money but a 10% margin is not that high.
I am a salesman and if my margin goes under 18% I get an ear full.
How many of you business owners make less than 10%????? |
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| Snoopyrules |
Quote: Originally posted by zimmie
I agree. Let's build a nice new nuclear power plant in Cliffside Park. OK? |
It's a little to urban in Cliffside Park. I don't believe there is any space left. There is still some decent space up by my neck of the woods, so I'd be completely open to having one built near me. What probably works best is to just put it where the current PSE&G plant in Ridgefield resides. That makes the most sense. |
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| zimmie |
Quote: Originally posted by booybob
400 billion in sales
40 billion in profit
10% profit margin.
40 Billion is a lot of money but a 10% margin is not that high.
I am a salesman and if my margin goes under 18% I get an ear full.
How many of you business owners make less than 10%????? |
none of them do, EOM profit is built from volume. Maybe after the liberals nationalize our energy, they can pass media laws like their hero Chavez has done. |
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| zimmie |
Quote: Originally posted by Snoopyrules
It's a little to urban in Cliffside Park. I don't believe there is any space left. There is still some decent space up by my neck of the woods, so I'd be completely open to having one built near me. What probably works best is to just put it where the current PSE&G plant in Ridgefield resides. That makes the most sense. |
Sounds like a great idea!....Why don't you run for county council and propose that. |
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| Snoopyrules |
Quote: Originally posted by zimmie
Sounds like a great idea!....Why don't you run for county council and propose that. |
Can I get the support of your poor relatives that live up here? I'm thinking of running as a Republican, and like all republicans, I need the support of trash. |
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| zimmie |
| You'll get plenty of support there, and pick whatever trash you want. White trash (your family and friends), latinos, asians, it's your armpit, go for it. |
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| Snoopyrules |
Quote: Originally posted by zimmie
You'll get plenty of support there, and pick whatever trash you want. White trash (your family and friends), latinos, asians, it's your armpit, go for it. |
This won't work, I need a hard core brand of trash that can only be filled by something that would be part of the Zimmie Clampetts. If you can't get them away from the racing channel long enough to round up there kinfolk, I have no chance. |
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| zimmie |
Come out of the shadows snoop, join your brothers!
Latinos cheer Clinton in N.J. visit
By PAUL BRUBAKER, HERALD NEWS | 01/24/08 02:11 AM | 707 hits
Sen. Hillary Rodham Clinton, D-N.Y., is greeted by cheers at a rally in North Bergen Wednesday night, sponsored by the Latino PAC Alliance, a coalition of six New Jersey organizations. (Photo by Michael Karas/Herald News)
NORTH BERGEN -- Propelled by hopes for national immigration reform, Passaic County Latinos joined hundreds who rallied Wednesday night for Sen. Hillary Rodham Clinton of New York, the Democratic presidential front-runner in New Jersey
And Clinton, more than an hour late and hoarse from an earlier Hackensack campaign stop, delivered her immigration platform with Democratic Sen. Robert Menendez at her side.
"I think we've got to bring people out of the shadows," Clinton said. "I believe that having people – 12 to 14 million of them here undocumented – is just a recipe for exploitation, for abuse, for demagoguery."
Clinton advocated registration of undocumented persons, and having them pay fines and back income taxes for breaking immigration laws. Criminals should be deported, she said.
"That is the only practical, realistic solution," Clinton said. "It is in keeping with our values as a nation of immigrants and in keeping with the rule of law."
RALLY FOR CLINTON
MICHAEL KARAS / HERALD NEWS
Rally for Clinton: Passaic County residents are among those who attended a rally for presidential hopeful Hillary Clinton
(please enable pop-ups)
Herald News 2008 primary coverage
Herald News election blog
The event, billed in Spanish as "Together with Hillary, to a Better Life," was sponsored by the Latino PAC Alliance, a coalition of six New Jersey organizations, including the Peruvian American Political Action Committee of Paterson, which has about 1,500 members.
Earlier in the day, the New York junior senator appeared in Hackensack, where she picked up the endorsement of Bergen County Democratic Committee Chairman Joe Ferriero.
Before the rally, Miguel Diaz, a Dominican, Democrat and perennial Paterson City Council candidate, said it was Clinton's established political base that set her apart from Sen. Barack Obama of Illinois and former North Carolina Sen. John Edwards.
"We are going to mobilize that base to get out the vote," Diaz said.
A Quinnipiac University poll released Wednesday indicated 49 percent of the Garden State's Democrats who intend to vote in the Feb. 5 presidential primary were behind Clinton, with Obama following with 32 percent and Edwards trailing with 10 percent.
For months, Clinton also has enjoyed the party support of many of the state's leading Democrats, including Gov. Jon S. Corzine, and Rep. Bill Pascrell Jr., D-Paterson.
Clinton also picked up the endorsement on Wednesday of Pennsylvania Gov. Ed Rendell.
"It's not just Hillary. It is also the people behind her," said Diaz. "These endorsements have been made by people who care about the Latino community."
Norberto Curitomai, president of the Peruvian American Political Action Committee, said Clinton's experience as first lady and senator made her the best candidate to tackle issues such as health care, the economy, the Iraq war and the nation's global reputation.
But he also noted that for many Latinos, Clinton's greatest distinction is her alignment with immigration reform proponents, including Sen. Robert Menendez, a former Hudson County Democratic Party chairman.
"She said that one of the priorities in the next administration, if she wins, will be immigration. We believe it," said Curitomai, who has in his Paterson office a freshly framed photograph of him and Clinton taken a few months ago.
But with catch words like "change" and "hope" that have marked this political year's campaigns, comprehensive immigration reform can mean many things to different people.
Diaz believes in amnesty for law-abiding people, struggling to become viable in the U.S. economy.
For Curitomai, immigration reform legislation must seek to reunite families separated by borders. Husbands and wives, parents and children kept apart by the current U.S. immigration system have taken a backseat to an immigrant's educational or professional background, he said.
But on Wednesday night, Clinton said she and Menendez had worked to fix that very problem in the U.S. Senate, and vowed to correct it if elected president.
"I believe in the American dream for everybody," Clinton said. "I want to do what I can to make sure the dream stays alive."
http://www.myheraldnews.com/view.ht...il&sub_id=25604 |
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| Snoopyrules |
Quote: Originally posted by zimmie
Come out of the shadows snoop, join your brothers!
Latinos cheer Clinton in N.J. visit
By PAUL BRUBAKER, HERALD NEWS | 01/24/08 02:11 AM | 707 hits
Sen. Hillary Rodham Clinton, D-N.Y., is greeted by cheers at a rally in North Bergen Wednesday night, sponsored by the Latino PAC Alliance, a coalition of six New Jersey organizations. (Photo by Michael Karas/Herald News)
NORTH BERGEN -- Propelled by hopes for national immigration reform, Passaic County Latinos joined hundreds who rallied Wednesday night for Sen. Hillary Rodham Clinton of New York, the Democratic presidential front-runner in New Jersey
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Wow, I'm very disappointed in you. This is all you could come back with. You're ususally so irreverent and witty. |
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| booybob |
| still waiting for ANYONE who OWNS and RUNS a business that makes less than 10% ???????? |
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| Snoopyrules |
Quote: Originally posted by booybob
still waiting for ANYONE who OWNS and RUNS a business that makes less than 10% ???????? |
Booybob, Fortune 50 companies do not make over 10% profit after operating expenses. 10% for a company this size is absurd. Check out the annual report of any company in the fortune 50 and you'll see the typical profit is in the 5-7% range with many of the companies at negative percentages.
BTW, Exxon is number 2 on the fortune 50....this is a borderline crime. |
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| NC-Stern-Mark |
Quote: Originally posted by booybob
still waiting for ANYONE who OWNS and RUNS a business that makes less than 10% ???????? |
The company I work for would LOVE to make a ten percent profit on gross sales. The bubbling idiots can barely manage 5 percent.
Next week they will probably let some more key revenue generators leave the company in search of greener pastures and hire more managers and consultants to figure out why their margins are not producing the desired result on the bottom line. |
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| booybob |
Quote: Originally posted by NC-Stern-Mark
The company I work for would LOVE to make a ten percent profit on gross sales. The bubbling idiots can barely manage 5 percent.
Next week they will probably let some more key revenue generators leave the company in search of greener pastures and hire more managers and consultants to figure out why their margins are not producing the desired result on the bottom line. |
Am I really the exception to the rule?? For the last 10 years my sales margin has been above 17%
I work for a major building supply company and ANY customer whose margin is under 13% is considered a low margin account??? |
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| NC-Stern-Mark |
Quote: Originally posted by booybob
Am I really the exception to the rule?? For the last 10 years my sales margin has been above 17%
I work for a major building supply company and ANY customer whose margin is under 13% is considered a low margin account??? |
You do realize that sales margins and bottom line profits are mutually exclusive, right? |
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| booybob |
| yes I do. I actually pulled up my sales reports on the computer. my 17% margin = 5% profit. |
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| NC-Stern-Mark |
| Well there ya go. |
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| booybob |
| I guess I should read more carefully before I get my panties in a bunch :D |
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| Anakin S |
Quote: Originally posted by grandmasterbeta
Be mad at Bush - we're getting fucked by his buddies. This is what they elected that moron for. There's no real reason for the oil prices to be so high. The OPEC fuckers own the bush family. As for Exxon, probably should buy their stock... |
Thats right he should not have let them merge. |
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