Exxon Mobil = Record profits

[jazzgirl03]

http://www.nytimes.com/2008/08/01/business/01oil.html?hp

This makes me ill.

Comments

[poobster]

Yeah, pretty disgusting. Especially when we're always being told that the oil companies aren't profiteering. I don't know how the evidence can get much stronger that they are.

[chancelot]

I'll admit I'm pretty ignorant when it comes to economics at this magnitude, but from what I've read, their profits are high because of the sheer volume of their sales. Their profit margins are something like 7-8% (about the lowest a company can safely aim for to avoid losses) while the fast food industry experiences profit margins near 20%.

[jazzgirl03]

I must say, the salaries of these oil execs are alarming.

[chancelot]

I'd be curious to see how much of their salaries are guaranteed and how much of it is based on a form of profit-sharing and other incentives then compare their contracts to execs in other industries.

[chancelot]

http://www.cnn.com/2008/US/04/03/beck.oilexecs/index.html?iref=newssearch

[jazzgirl03]

Since this article is fairly old, I wonder how he feels now....

[chancelot]

the exact same. He just talked about it yesterday actually. Well, not this article directly, but its message.