ExxonMobil 2Q profits sets US record, should we even go there?

Buckterrier · 07-31-2008, 06:51 AM

But it's only 8% ROI

onewhippedpuppy · 07-31-2008, 06:53 AM

Supply and demand!!!!

legion · 07-31-2008, 06:56 AM

So what?

Do you want them to stop earning a profit?

cstreit · cstreit's Garage

Well we can't really be sure that 8% is their TRUE profit margin, there's a lot of shenanigans that go on during the accounting process I'm sure. However even if it's twice that, 16% it's a margin that many businesses wouldn't be to pleased with.

I think their practices are somewhat cloak-and-dagger and probably not above-board at all, but we should address that rather than the relative volume of money involved...

Rick Lee · Rick Lee's Garage

Did you feel sorry for them when they were losing money? Would you even think of starting a business with an 8-10% profit margin?

Buckterrier · 07-31-2008, 07:32 AM

Quote:

Originally Posted by onewhippedpuppy

Supply and demand!!!!

The supply, or lack there of, is artificially generated.

Quote:

Originally Posted by Rick Lee

Did you feel sorry for them when they were losing money? Would you even think of starting a business with an 8-10% profit margin?

If sales were $240 billion yes.

Porsche-O-Phile · Porsche-O-Phile's Garage

8% ROI is actually starting to look pretty good by comparison.

When everything else out there is down 10% or 15%, +8% is great.

Superman · 07-31-2008, 08:31 AM

This is great news. Corporate profits are up. Oil profits are up. Executive compensation is up. I heard this morning on the news that the jumbo real estate market ($25.M and up), at least in Seattle, is up. High end cars are doing fine.

The criticism should go to ordinary folks like you and me. Well, me at least. Real wages have fallen during the same period. Inflation has risen and will shortly be getting out of hand. So.......rich folks are holding up their end of the bargain. It's the "regular Joes" who are failing to perform. Economically.

cairns · 07-31-2008, 08:35 AM

Good on them!! Too bad I didn't buy their stock. Then even a little guy like me could have shared a piece of that pie. Supe it sounds like you should have too. If you don't perform economically they're not going to let you in Costco- they only accept the rich you know.

Rick Lee · Rick Lee's Garage

Quote:

Originally Posted by Superman

This is great news. Corporate profits are up. Oil profits are up. Executive compensation is up. I heard this morning on the news that the jumbo real estate market ($25.M and up), at least in Seattle, is up. High end cars are doing fine.

The criticism should go to ordinary folks like you and me. Well, me at least. Real wages have fallen during the same period. Inflation has risen and will shortly be getting out of hand. So.......rich folks are holding up their end of the bargain. It's the "regular Joes" who are failing to perform. Economically.

For once I absolutely agree with you. Except you're being sarcastic and I am not.

Hugh R · 07-31-2008, 08:48 AM

I'd rather them make 8% than me not be able to buy gas!!

kstar · 07-31-2008, 08:59 AM

XOM is probably one of, if not the, most widely held stocks.

Most of us probably hold some of it in a fund or 401k we own.

"We" are big oil.

Below are some financial stats on two public companies, one is XOM and one is AAPL.

Which one should be "reeled" in by the Feds?

jyl · jyl's Garage

XOM is down -13% YTD.

kstar · 07-31-2008, 10:28 AM

Quote:

Originally Posted by jyl

XOM is down -13% YTD.

And AAPL is down about 18% YTD.

They're certainly different companies, but it's very difficult, IMO, to make money in the very short term on any stock. These two are no exception.

Long terms holders of XOM have done well considering the mature nature of the company and it's sheer size.

ed martin · 07-31-2008, 10:53 AM

My father was an Exxon attorney for forty years plus. Never talked about what he did exactly, and never gave me much advice. When I had my struggling furniture business (partnership horror story) the only advice he really gave me was " There is nothing fair about business." Exxon/Mobile is a business. A really big business.

A really successful friend of mine would always say, "Don't be jealous of peoples' success, just copy what they do." Instead of fretting about a corporations success, wouldn't it smarter to get on board and invest? I've heard it said that "It's not how much you make (wages), it's how you invest it."

cairns · 07-31-2008, 12:08 PM

Ed you got some darn good advice. Absolutely true.

widgeon13 · 07-31-2008, 12:43 PM

Obama wants to tax the big oil companies because it's what the little guy wants to hear and will vote for.

sammyg2 · 07-31-2008, 02:16 PM

Yahoo finance lists XOM's net profit margin for the quarter at 10.85% from $389 billion in revenue.

Yahoo finance lists Microsoft's net profit margin for the quarter at 29.26% from $60 billion in revenue.