16 November 2008

Without Comment


"FROM a purely financial standpoin there’s no doubt that Exxon’s business strategy has paid off. Despite the broader economic turmoil, Exxon is worth around $375 billion — more than General Electric, Bank of America and Google combined — making it the world’s largest corporation.

Its balance sheet is pristine and its credit rating is better than that of most governments. If Exxon’s revenue were stacked against the world’s G.D.P.’s, it would rank between Austria and Greece as the 26th-largest economy. As oil prices peaked this summer, the company once again set a record as the most profitable American corporation, earning $14.8 billion in the third quarter. Since 2004 alone, the company has rung up profits of about $180 billion."
New York Times.

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2 Comments:

At 17 November, 2008 14:16, Anonymous Anonymous said...

See! See, it's "wealth redisribution". (Wonder which way this one is going.)

 
At 09 December, 2008 21:01, Blogger Elliot said...

When the last Exxon executive has been hung with the intestines of the last Haliburton executive... well, it would be pretty gross. But the world would probably be a slightly better place!

I hear Obama is backing away from the 'windfall profits tax on oil' plan he had.

 

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