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NEW YORK — Oil giant ExxonMobil Corp. (XOM) on Thursday posted the largest annual profit by a U.S. company — $39.5 billion — even as earnings for the last quarter of 2006 declined 4 percent.
The 2006 profit topped the previous record of $36.13 billion which Exxon set in 2005.
Typical conservative response. All money, no soul. Exactly how did they make so much? Pretty soon other businesses will catch on and jack up their prices just because they can. What? 10.95 for a loaf of bread? Good thing I have stock in TownTalk. HAHA
typical conservative response?? well thanks pimp, this is not a personal attack page. All money and all soul, you dont know what I do with my money. They didnt jack up prices any more than any other and I didnt see anyone dumping their cars instead of paying the prices, they kept on driving,
bread is still pretty cheap where I live and so we dont worry about that--whole foods stock is good too.
What Pimp seems to be missing is that this is not a liberal or conservative issue. It is a matter of the US being a capitalistic economy. It is the stated duty of the board of all publicly traded companies to maximize profits for the share holders. That being said, pricing is a matter of supply and demand. If Exxon charged more for their products then people would go elsewhere or stop using the product. I know in my area the Exxon stations charge less than the other major brands. Could it be that Exxon has good management that has caused them to show record profits? That's my bet! And I see no reason to punish them for that.
MarySally
As concise and well sadi as I've ever heard it.
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