The Fat Cats Profits...

[Adidas410s]

what??? There are bigger fat cats than oil companies??? Well well...we better go after the banks, IBM, and home furnishings (that's a very general term) companies as well!!!

These numbers are for the period ending 12/31/05 with the ticker symbol in parentheses.

Company (Ticker)..... Revenue.....Net Income.....Net Income %
Citigroup ( C ) .....$120,000,000..... $24,000,000.....20.0%
ExxonMobil (XOM) .....$371,000,000 .....$36,000,000.....9.7%
IBM (IBM) .....$91,000,000 .....$8,000,000.....8.8%
Bank of America (DE) .....$84,000,000 .....$16,000,000.....19.0%
AT&T (T) .....$44,000,000 .....$5,000,000......4%
Conoco-Phillips (COP) ......$183,364,000..... $13,529,000 .....7.4%
Chevron/Texaco .....(CVX) $198,200,000..... $14,099,000..... 7.1%
General Electric (GE)..... $149,702,000..... $16,353,000 .....10.9%
Home Depot (HD)..... $81,511,000 .....$5,838,000 .....7.2%
American International Group (AIG) .....$108,905,000..... $10,477,000..... 9.6%
Proctor & Gamble (PG)..... $56,741,000..... $7,257,000 .....12.8%
Coca-Cola (KO) .....$23,104,000..... $4,872,000 .....21.1%


Dollars in thousands.

[Phil C]

I am not surprised at all! SHOW NO COMPASSION! :)

[Adidas410s]

Originally posted by Phil C
I am not surprised at all! SHOW NO COMPASSION! :)

So what should we do? Pull our money out of the banks??? Stop buying lightbulbs and other home products??? I mean...if we are going to hate on one industry then we can't discriminate. We must hate all big business Phil! ;)

[sahen]

where is Wal Mart? I'm pretty sure the 2 companies that gross the most money is ExxonMobil then Wal Mart....my parents work for both companies....

[Adidas410s]

Originally posted by sahen
where is Wal Mart? I'm pretty sure the 2 companies that gross the most money is ExxonMobil then Wal Mart....my parents work for both companies....

I wasn't posting the biggest companies. You will notice the #'s are really ranked in any particular order. It's just comparing many other big companies against the oil companies and you can see that NI #'s are just as good in many industries.

[Blastoderm55]

Thing is, the price of light bulbs hasn't doubled in order to net GE record profits.

[sahen]

Originally posted by Adidas410s
I wasn't posting the biggest companies. You will notice the #'s are really ranked in any particular order. It's just comparing many other big companies against the oil companies and you can see that NI #'s are just as good in many industries.
oh ok, i didnt really look at the numbers, just the names....

[sahen]

Originally posted by Blastoderm55
Thing is, the price of light bulbs hasn't doubled in order to net GE record profits.
thats a bad argument being that the price of making a lightbulb hasnt changed much, however the price of Oil has went through the roof helping to fuel higher gas prices.....not that im defending teh Oil companies because they are messing w/ prices as well but to compare them to GE in that way is not necessarily correct....

[Blastoderm55]

Originally posted by sahen
thats a bad argument being that the price of making a lightbulb hasnt changed much, however the price of Oil has went through the roof helping to fuel higher gas prices.....not that im defending teh Oil companies because they are messing w/ prices as well but to compare them to GE in that way is not necessarily correct....

Hence my argument that revenues from the different companies cannot be compared in this way. And keep in mind GE is also known for consumer/commercial finance, consumer/commercial appliances, Thomson brand products, and everything made by RCA. Their costs have all gone up due to higher energy costs, yet effective price controls have kept their products and price increases reasonable.

[RMAC]

Down with the FAT CATS!!!

[NHSRattler60]

No but GE has the contract with Chevy to help the engineering of hybrid cars.

[slpybear the bullfan]

Addidas, Great Post on a hot topic!

LOL... Lightbulbs do cost more... so does tuna fish, towels, taco shells, toilet paper, and taters. Wal Mart is just as guilty as oil companies of easing those dollars out of your pocket.

Colleges and Universities raise tuition every single year. They are still good guys...

Banks are raising the interest rates again... mortgage rates have come close to doubling in the last two years... (4% to 7%)... banks are still good guys.

I'll bet your insurance and medical costs have increased every year too....

Property Taxes?

Electric Rates?

Water bills?

I have said it before and I will say it again... we are all selective in our kneejerk reations (myself included).... The darling right now is the oil companies because it has jumped faster than it normally increases. Next year it will be health care.... or electric bills... etc.

I agree with everyone else's suggestions on here.... try to conserve your driving and keep those tires inflated properly and watch the leadfoot and heavy braking!

Here's to $2.00 a gallon by Sept! (We hope!)

[crabman]

Don't get pissed thinking there is some rich fat cat getting all of that money. The stock of every company listed is owned by IRA's, mutual funds, and 401(k) programs that are owned by whom? You and Me ! Corporate profits don't go to corporations. They go to people like you and me.

[shankbear]

Do a Google search on the amount of profit an oil company makes on a gallon of gas. You will be surprised. They simply sell so many gallons it causes their profits to look outrageous. 60% of the cost is for crude oil which the oil companies do not set the price.....speculators do that every minute of every day. State and federal taxes are a bigger cost per gallon than is company profit.

[Adidas410s]

Originally posted by crabman
Don't get pissed thinking there is some rich fat cat getting all of that money. The stock of every company listed is owned by IRA's, mutual funds, and 401(k) programs that are owned by whom? You and Me ! Corporate profits don't go to corporations. They go to people like you and me.

Don't let Phil read this...he might actually learn to like "the fat cats!"

[spiveyrat]

Let's not forget that GE makes a little more than light bulbs... in fact, they make just about everything from light bulbs to jet engines.