Nofsdad
Joined: 06 Jul 2003
Posts: 6742
Location: Central CA
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Posted: Fri Aug 01, 2008 4:06 am Post subject: Exxon Profits
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Exxon racked up $11.68 billion for the second quarter. Not only its own biggest profit ever but the biggest profit ever by any corporation anywhere. But investors are still whining. $#@!ing Wall Street maggots.
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| Exxon Mobil Corp. reported second-quarter earnings of $11.68 billion Thursday, the biggest profit from operations ever by any U.S. corporation, but the results were well short of Wall Street expectations and its shares slumped 3 percent. |
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| The record-setting results were largely expected, given that crude prices in the second quarter were nearly double what they were a year ago. Natural gas prices were significantly higher too. |
Nobody has ever explained satisfactorily to me why they can claim that their totally out of control prices are based solely on the increased costs of doing business, yet their profits continue to rise at far greater rates than can possibly be explained to us simpletons who see massively increased prices and massively increased profits as, by some strange twist of logic, somehow massively connected to each other.
The rest of the story
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