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Exxon Mobil posts record U.S. $9.9B profit, is it time for government intervention?

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Exxon Mobil posts record U.S. $9.9B profit, is it time for government intervention?

Old 10-27-05, 05:34 PM
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Originally Posted by CRM114
Me too. I take offense to the gouging going on. I also don't buy that if people drove less, the price would come down.

This is the same government who allowed the Microsoft monopoly to continue without remedy. When Clinton left office, MS was to be split into two companies. That just got killed off.
Speaking of:

http://news.yahoo.com/s/nm/20051027/...osoft_earns_dc

Microsoft profits up on Window sales
12 minutes ago


SEATTLE (Reuters) - Microsoft Corp. (Nasdaq:MSFT - news) on Thursday posted a 24 percent rise in quarterly profit on robust sales of its Windows software, but tempered expectations about a spike in sales of its upcoming video game console and set a current-quarter revenue target below Wall Street expectations.

Its shares fell just over 1 percent in after-hours trading.

Microsoft launches the Xbox 360 game console on November 22, the first of a number of key product launches over the next year or so.

Chief Financial Officer Chris Liddell told Reuters Microsoft aimed for more of a "gradual ramp" of Xbox sales in order avoid running out of machines soon after the launch.

"The analysts were expecting more of a launch spike than we were," he said.

Strong sales of personal computers, which Liddell saw rising 9 percent to 11 percent in the year to June 2006, drove results in the September-ending fiscal first quarter.

Net income reached $3.14 billion, or 29 cents per share, compared with $2.53 billion, or 23 cents per share, a year earlier, which included a 3 cent charge for a settlement with Novell Inc. (Nasdaq:NOVL - news).

Excluding a legal settlement charge with RealNetworks Inc. (Nasdaq:RNWK - news), Microsoft earned 31 cents per share in the first fiscal quarter, topping Wall Street expectations by a penny.

Revenue rose to $9.74 billion from $9.19 billion, just behind Wall Street expectations.

Microsoft forecast revenue in the December-ending quarter of $11.9 billion to $12.0 billion and diluted earnings per share of 32 cents, or 33 cents.

"I think the big thing is the second quarter sales and earnings being below expectations," said Tim Ghriskey, chief investment officer of Solaris Asset Management.

Analysts had expected revenue of $12.26 billion in the December quarter.

The company also said it would accelerate its stock repurchase plan, aiming to finish the remaining $19 billion buy-back no later than December 2006.

For the fiscal year ending June 2006, Microsoft said it expects to post a profit of $1.26 to $1.30, excluding the 2 cents per share RealNetworks charge, on revenue of $43.7 billion to $44.5 billion.

Wall Street had forecast a $1.31 per share profit on $44.29 billion for Microsoft's current fiscal year.

Microsoft is trading at 19 times estimated earnings for 2006, below the average price-earnings ratio of its software peers of 26 on the Goldman Sachs Software Index.

Its shares fell 30 cents, or 1.2 percent, to $24.55 on Inet.

(Additional reporting by Peter Henderson in Los Angeles, Kenneth Li in New York)


Isn't the price of Windows 95 the same today, that I paid in Sept of 2001 ($90) ????

If the price of DVDz can go down to more than half their original price and now the record companies have finally caved in to that practice, why can't the price of Windows software come down after 4 years? Sure demand is still high, but throw us a bone, Microsoft.

Chris

Chris
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Old 10-27-05, 06:10 PM
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Originally Posted by CRM114
I'm currently looking at the Lincoln Aviator but keeping an eye out for the 2006 Acura MDX.

So one hand we should let supply and demand do its thing for the oil industry but not for the auto industry? BTW, you don't see me crying about gas prices.

I also don't blindly blame the problems on SUV's. Take a look around. We ship goods more than ever by tractor trailer and diesel freighters. Not to mention, gas guzzling beasts have been around forever. If you want to talk about waste, talk to me about single people that drive SUVs and pickups that have no use for the space or the utility the vehicle provides.

funny how everyone needs an SUV, but thinks the other guy doesn't
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Old 10-27-05, 06:20 PM
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Anyone can buy Exxon stock, so why the complaining?

Are you guys serious? The average person in this country has no where near the resouces to purchase any significant amount of stock. Part of the reason is that gas prices have risen significantly. Also, for those saying Exxon's record profits are ok, please tell me another industry that could lose a significant portion of their supply chain (like Exxon did), and still post those kind of gains??? Lets see, Retail......no, Auto.....no, Oil.....yes!!!

This is ok with people?
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Old 10-27-05, 06:38 PM
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Why do I always hear that since European prices of gas are so much more, we Americans should be grateful for $3/gallon gas.

That's plain retarded thinking.

People are starving in Ethiopia too, so the poor and hungry in America shouldn't be complaining!

That shitty car you drive to work just to make ends meet? Don't complain! Some people in other countries don't have cars!

Oh, and your house which sprung a leak in the roof this fall? Don't complain! Some people in other countries don't have homes!

The electricity just went off in your entire neighborhood...

...yep, you got it...

DON'T COMPLAIN!

SOME PEOPLE DON'T HAVE ELECTRICITY!
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Old 10-27-05, 06:38 PM
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Originally Posted by Xndman
Anyone can buy Exxon stock, so why the complaining?

Are you guys serious? The average person in this country has no where near the resouces to purchase any significant amount of stock. Part of the reason is that gas prices have risen significantly. Also, for those saying Exxon's record profits are ok, please tell me another industry that could lose a significant portion of their supply chain (like Exxon did), and still post those kind of gains??? Lets see, Retail......no, Auto.....no, Oil.....yes!!!

This is ok with people?
Cool New Member? 43 posts since 1999??

But to your post!

Chris
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Old 10-27-05, 06:38 PM
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Originally Posted by DVD Polizei
Why do I always hear that since European prices of gas are so much more, we Americans should be grateful for $3/gallon gas.

That's plain retarded thinking.
Duh! Gee Touche' I'm sorry!

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Old 10-27-05, 06:40 PM
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Bush+oil=greasy politics.
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Old 10-27-05, 06:41 PM
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Btw, I looked up profits for Exxon last year and it was $25.3 Billion.
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Old 10-27-05, 06:43 PM
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Originally Posted by al_bundy
funny how everyone needs an SUV, but thinks the other guy doesn't
I have a family and a dog and snow. I don't say other don't need it - LOTS of others need it. Just not the moron in the pickup that's never taken the cover off the bed.
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Old 10-27-05, 06:44 PM
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Originally Posted by DVD Polizei
Btw, I looked up profits for Exxon last year and it was $25.3 Billion.
Well, I was pissed about it last year too!

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Old 10-27-05, 06:49 PM
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Originally Posted by CRM114
I have a family and a dog and snow. I don't say other don't need it - LOTS of others need it. Just not the moron in the pickup that's never taken the cover off the bed.
I think Portland is high on the list of worthless SUV ownerships. We have many SUV vehicles here, and yet all I see are clean, shiny, 30" chrome rims, afraid to even bump the curb.
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Old 10-27-05, 06:52 PM
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Originally Posted by DVD Polizei
I think Portland is high on the list of worthless SUV ownerships. We have many SUV vehicles here, and yet all I see are clean, shiny, 30" chrome rims, afraid to even bump the curb.

I think DC tops it. They are everywhere. People say they need it for snow. Except for the big storm that comes every 5 or 6 years, we get about 1 or 2 4 or inch snowfalls per year and when it does snow, everything shuts down anyhow. Morans.
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Old 10-27-05, 06:55 PM
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Originally Posted by Red Dog
I think DC tops it. They are everywhere. People say they need it for snow. Except for the big storm that comes every 5 or 6 years, we get about 1 or 2 4 or inch snowfalls per year and when it does snow, everything shuts down anyhow. Morans.
We get 12"+ storms every year. But that's beside the point. Sure, its nice to have clearance but its nicer to be well armored when the moran driving RWD Infiniti slides into you.
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Old 10-27-05, 07:00 PM
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Originally Posted by CRM114
We get 12"+ storms every year. But that's beside the point. Sure, its nice to have clearance but its nicer to be well armored when the moran driving RWD Infiniti slides into you.

I don't see the need for an SUV even if you have that kind of storm each year. Allentown doesn't strike me as a place that gets a ton of snow (maybe a total of what - 2 feet per winter including one such storm). Now if you like a SUV for size or looks, that's your prerogative.

I can see the snow excuse for Buffalo residents where it snows constantly each winter.
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Old 10-27-05, 07:01 PM
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Originally Posted by DVD Polizei
Why do I always hear that since European prices of gas are so much more, we Americans should be grateful for $3/gallon gas.

That's plain retarded thinking.

People are starving in Ethiopia too, so the poor and hungry in America shouldn't be complaining!

That shitty car you drive to work just to make ends meet? Don't complain! Some people in other countries don't have cars!

Oh, and your house which sprung a leak in the roof this fall? Don't complain! Some people in other countries don't have homes!

The electricity just went off in your entire neighborhood...

...yep, you got it...

DON'T COMPLAIN!

SOME PEOPLE DON'T HAVE ELECTRICITY!


I don't understand your examples since they aren't analogous, but are you suggesting that America should somehow be magically immune to global economic and market realities?

Personally, I don't care either way.
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Old 10-27-05, 07:03 PM
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Originally Posted by Red Dog
I don't see the need for an SUV even if you have that kind of storm each year. Allentown doesn't strike me as a place that gets a ton of snow (maybe a total of what - 2 feet per winter including one such storm). Now if you like a SUV for size or looks, that's your prerogative.

I can see the snow excuse for Buffalo residents where it snows constantly each winter.


Three years in a row my town has received over 100" of snow, but I would drive an SUV even if the total were zero.
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Old 10-27-05, 07:05 PM
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Originally Posted by Red Dog
I don't see the need for an SUV even if you have that kind of storm each year. Allentown doesn't strike me as a place that gets a ton of snow (maybe a total of what - 2 feet per winter including one such storm). Now if you like a SUV for size or looks, that's your prerogative.

I can see the snow excuse for Buffalo residents where it snows constantly each winter.
We got a 24" snowstorm in one day last year. (The day before the NFC Championship Game) We've been getting constant snow. Sure, there are years when we don't get as much. Driving a 6 year old girl around, even in icy conditions, changes one's perspective. I want to be driving a tank for self defense.
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Old 10-27-05, 07:07 PM
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Originally Posted by Vandelay_Inds
People really should be taught the basics of economics in high school... if not by high prices, how are you going to ration a fixed quantity of a good when demand outstrips supply? It's as simple as that.
You'd also learn that the price of oil and gasoline is not the result of solely demand. The demand for oil and gasoline did not double in a year.
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Old 10-27-05, 07:11 PM
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Originally Posted by CRM114
We got a 24" snowstorm in one day last year. (The day before the NFC Championship Game) We've been getting constant snow. Sure, there are years when we don't get as much. Driving a 6 year old girl around, even in icy conditions, changes one's perspective. I want to be driving a tank for self defense.


SUVs make little if any difference on ice. So you got a 24" superstorm last year. We've had those on occasion too - they are anomolies. Common sense tells me that the best self-defense is staying off the roads in bad weather.
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Old 10-27-05, 07:34 PM
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Are people entitled to low gas prices?
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Old 10-27-05, 07:37 PM
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No, but the government is entitled to take action against unfair pricing.
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Old 10-27-05, 07:42 PM
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Originally Posted by CRM114
You'd also learn that the price of oil and gasoline is not the result of solely demand. The demand for oil and gasoline did not double in a year.
supposedly there is a secret CIA report going around about how Saudi Arabia can't raise production even if it wanted to. A lot of people are nervous that we are at peak oil right now. There is enough oil for the next 100-400 years, but we may not be able to extract it and refine it fast enough to meet demand which has grown a lot in the last 5 years. Supply meanwhile has lagged.

Also the CEO of Valero said that no new refiniries will be built in the US, and the only new ones will be built overseas. This of course means pressure on the value of the dollar and higher energy prices.
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Old 10-27-05, 08:42 PM
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Originally Posted by Red Dog
SUVs make little if any difference on ice. So you got a 24" superstorm last year. We've had those on occasion too - they are anomolies. Common sense tells me that the best self-defense is staying off the roads in bad weather.
Little difference? When some asshat comes sliding at the side of your car, would you rather have him hit you on the side of your body or where your feet are?
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Old 10-27-05, 08:44 PM
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Oh, so the free traders are now anti-consumer choice AND conservationists?

You guys kill me.
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Old 10-27-05, 08:47 PM
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Originally Posted by CRM114
Little difference? When some asshat comes sliding at the side of your car, would you rather have him hit you on the side of your body or where your feet are?

Simple - I wouldn't be out on the road in icy conditions.
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