Thursday, July 31, 2008

If you can read this Thank BIG OIL!

My Way News - Exxon Mobil 2Q profit sets US record, shares fall: "Exxon Mobil 2Q profit sets US record, shares fall
By JOHN PORRETTO , Jul 31, 11:05 AM (ET)

HOUSTON (AP) - Exxon Mobil Corp. (XOM) (XOM) reported second-quarter earnings of $11.68 billion Thursday, the biggest quarterly profit ever by any U.S. corporation, but the results were well short of Wall Street expectations and its shares fell."...
 
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If you can read this Thank BIG OIL! 
 
You want to talk about "obscene profits"?    You think it's oil?
 
No!  It's BIG SOFTWARE!
 
Many companies have a larger profit margin than the oil companies. Where's the outcry?
 
20 Largest U.S. Companies By Market Capitalization as of 06/20/08
Market Capitalization is in millions of dollars (e.g., Exxon Mobil = $448 billion)
Name  Symbol     Mkt cap      Net Profit Margin (Last 3 yrs) 
          2007 2006 2005
      
Exxon Mobil    XOM   $448,639 10.00% 10.50% 9.70%
General Electric    GE   $272,907 12.90% 12.70% 11.10%
Microsoft    MSFT   $262,914 27.50% 28.50% 30.80%
Wal-Mart Stores   WMT   $221,874 3.40% 3.20% 3.60%
AT&T Inc.   T   $204,549 10.00% 11.70% 10.90%
Chevron Corp.   CVX   $199,848 8.50% 8.20% 7.10%
Procter & Gamble   PG   $192,827 13.50% 12.70% 12.80%
Berkshire Hathaway   BRK.A   $192,052 11.20% 11.20% 10.30%
Johnson & Johnson   JNJ   $180,533 17.30% 20.70% 20.60%
Google Inc.   GOOG   $171,630 25.30% 29.00% 23.90%
Int'l Business Mach.   IBM   $168,581 10.50% 10.40% 8.70%
Apple Inc.   AAPL   $154,522 14.60% 10.30% 9.60%
Cisco Systems   CSCO   $145,552 21.00% 19.60% 23.10%
ConocoPhillips   COP   $143,077 6.10% 8.20% 7.40%
JPMorgan Chase   JPM   $129,732 13.20% 14.50% 10.60%
Intel Corporation   INTC   $128,135 18.20% 14.30% 22.30%
The Coca-Cola   KO   $124,642 20.70% 21.10% 21.10%
Bank of America    BAC   $120,670 12.10% 18.10% 19.60%
Pfizer Inc.   PFE   $117,241 16.80% 40.00% 15.80%
Oracle Corp.   ORCL   $113,849 23.70% 23.50% 24.50%
      
Ref: http://www.hoovers.com)
 
 
In fact Exxon is not even in one of the top 3 spots in its own industry category 
(Top 10 Profit Margins by Industry, The Online Investor)
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