Comments on: A Big Piece of Pie http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/ Tue, 06 Jan 2009 12:57:20 +0000 http://wordpress.org/?v=2.0.2 by: SG http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4615 Fri, 13 Jun 2008 19:29:18 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4615 ROFL! Almost literally! Wonder who pays BN's salary. The idea that consolidated financial statements are "the final word" kind of went out with Enron. But what really got me going was this: >>that’s a profit margin of 10.95% - is that outrageous? Are you serious? Grocery stores survive on a profit margin of less than a single percent. Most car dealers will be happy to sell you a car for 1% over the invoice cost, and that's gross margin BEFORE costs, not profit. On that level of turnover an 11% profit is not outrageous-- it's obscene. Microsoft's an overt monopoly, in an industry that is not "trading" or manufacturing. Their profits certainly are outrageous but it's hard to see how you can make that a justification for Big Oil's rape of its captive customers. The coke analogy shows you don't understand the difference between markup and profit, so your claimed ability to understand financial statements would be somewhat suspect. --SG ROFL! Almost literally! Wonder who pays BN’s salary. The idea that consolidated financial statements are “the final word” kind of went out with Enron. But what really got me going was this:

>>that’s a profit margin of 10.95% - is that outrageous?

Are you serious? Grocery stores survive on a profit margin of less than a single percent. Most car dealers will be happy to sell you a car for 1% over the invoice cost, and that’s gross margin BEFORE costs, not profit.

On that level of turnover an 11% profit is not outrageous– it’s obscene.

Microsoft’s an overt monopoly, in an industry that is not “trading” or manufacturing. Their profits certainly are outrageous but it’s hard to see how you can make that a justification for Big Oil’s rape of its captive customers. The coke analogy shows you don’t understand the difference between markup and profit, so your claimed ability to understand financial statements would be somewhat suspect.

–SG

]]> by: BN http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4614 Thu, 22 May 2008 19:25:45 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4614 What about the infrastructure - oil does not get itself into a barrel, does it? I like the presentation of the article - it is very compelling. But consolidated financial statements are the final word. In Q1 2008, Exxon Mobil reported a net income of $10.89bn on revenues of $117.85bn - that's a profit margin of 10.95% - is that outrageous? I would ask you to look up Microsoft's margin (about 30%) - how much did you pay for that coke with you Bi Mac - do you know the profit margin on that? I give you credit for weaving a nice tale but I'm not buying it. It has popular appeal but anybody who understands an income statement can reach their own conclusion. Thanks for playing! What about the infrastructure - oil does not get itself into a barrel, does it? I like the presentation of the article - it is very compelling. But consolidated financial statements are the final word.

In Q1 2008, Exxon Mobil reported a net income of $10.89bn on revenues of $117.85bn - that’s a profit margin of 10.95% - is that outrageous? I would ask you to look up Microsoft’s margin (about 30%) - how much did you pay for that coke with you Bi Mac - do you know the profit margin on that?

I give you credit for weaving a nice tale but I’m not buying it. It has popular appeal but anybody who understands an income statement can reach their own conclusion.

Thanks for playing!

]]> by: High Gas Prices http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4613 Sun, 11 May 2008 21:06:35 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4613 You make some interesting points. I would like to point out that OPEC controls a lot more than 20% According to World OIL Outlook 2007, OPEC “has close to 80% of world crude oil reserves”, which means they have the power and influence to regulate gas prices on far more than 20% of all oil supply. You can find the book where I got this information from here: http://www.opec.org/library/ You make some interesting points. I would like to point out that OPEC controls a lot more than 20%

According to World OIL Outlook 2007, OPEC “has close to 80% of world crude oil reserves”, which means they have the power and influence to regulate gas prices on far more than 20% of all oil supply.

You can find the book where I got this information from here: http://www.opec.org/library/

]]> by: gazeteler http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4612 Tue, 06 May 2008 11:55:09 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4612 thanks you thanks you

]]> by: C. Wyatt http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4609 Fri, 21 Mar 2008 02:46:29 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4609 Wow, truly an excellent piece of writing! One of the benefits of the internet is being able to find stuff like this. You have to wonder about the souls or lack thereof of those who run these corporations. How much literal blood is on their hands? Vote for Ross Perot. Wow, truly an excellent piece of writing! One of the benefits of the internet is being able to find stuff like this.
You have to wonder about the souls or lack thereof of those who run these corporations. How much literal blood is on their hands? Vote for Ross Perot.

]]> by: Phiafly http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4606 Fri, 21 Dec 2007 11:52:50 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-4606 Fantastic Blog. We have the same problems here in Australia. We pay about US$1.20 per litre(20c price hike in the last two months). The public is so angry about this issue, the government was compelled to open up an "inquiry" into petrol pricing fluctuations. This will be the 7th government "inquiry" into this matter over the last 20 years. It's always the same stock standard reply everytime, and we fall for it everytime: "The Inquiry failed to find any evidence of price fixing but a "government body" will be established to monitor pricing at the pump." We can't beat them, lets face it. Changing your car to an alternative fuel source seems to be the only answer. Fantastic Blog. We have the same problems here in Australia. We pay about US$1.20 per litre(20c price hike in the last two months). The public is so angry about this issue, the government was compelled to open up an “inquiry” into petrol pricing fluctuations. This will be the 7th government “inquiry” into this matter over the last 20 years. It’s always the same stock standard reply everytime, and we fall for it everytime:

“The Inquiry failed to find any evidence of price fixing but a “government body” will be established to monitor pricing at the pump.”

We can’t beat them, lets face it. Changing your car to an alternative fuel source seems to be the only answer.

]]> by: david5 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-176 Wed, 01 Feb 2006 15:26:04 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-176 Im looking forward to keep reading your posts.! Im looking forward to keep reading your posts.!

]]> by: SG http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-145 Wed, 24 Aug 2005 23:45:22 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-145 Nice little <a href="http://toccionline.kizash.com/films/1001/178/index.php">animation here</a>, right on topic! Nice little animation here, right on topic!

]]> by: SG http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-143 Fri, 19 Aug 2005 23:50:02 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-143 Good question! There <em>are</em> things that you (and we, and everybody else) can do that will have some effect, at least over time. 1. <strong>Share the knowledge</strong>. When you hear someone complaining about gas prices, don't just grit your teeth and agree with them. Tell them it's all taxes and profits. Write to your Congressman and Senators, and ask them why the Sherman Anti-trust Act is not being enforced, and why the Federal government is not collecting the windfall profit taxes that have been mandated by Congress. Write letters to the editor and leave comments on blogs whenever you see someone blaming high gas prices on "supply and demand," record crude oil prices, or "speculation." 2. <strong>Boycott Big Oil</strong>. Refuse to buy gas at "branded" stations and instead get it from the independent discounters, your grocery store, COSTCO, etc. It's the same gasoline, so why not take that little bit of profit away from the big oil companies and give it to businesses that are a little less rapacious. 3. <strong>Conserve</strong>. Almost everybody can reduce their driving by a noticeable extent, by eliminating or combining trips, and driving more efficiently. 4. Last, but far from least, <strong>be careful who you vote for</strong>. Good question! There are things that you (and we, and everybody else) can do that will have some effect, at least over time.

1. Share the knowledge. When you hear someone complaining about gas prices, don’t just grit your teeth and agree with them. Tell them it’s all taxes and profits. Write to your Congressman and Senators, and ask them why the Sherman Anti-trust Act is not being enforced, and why the Federal government is not collecting the windfall profit taxes that have been mandated by Congress. Write letters to the editor and leave comments on blogs whenever you see someone blaming high gas prices on “supply and demand,” record crude oil prices, or “speculation.”

2. Boycott Big Oil. Refuse to buy gas at “branded” stations and instead get it from the independent discounters, your grocery store, COSTCO, etc.
It’s the same gasoline, so why not take that little bit of profit away from the big oil companies and give it to businesses that are a little less rapacious.

3. Conserve. Almost everybody can reduce their driving by a noticeable extent, by eliminating or combining trips, and driving more efficiently.

4. Last, but far from least, be careful who you vote for.

]]> by: Concerned Citizen http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-142 Mon, 15 Aug 2005 21:29:38 +0000 http://stengazette.org/wordpress/2005/08/14/a-big-piece-of-pie/#comment-142 This is revolting. It makes me sick to think that my government is so greedy and not at all concerned about ME the people. So now that I know all this what can I do? This is revolting. It makes me sick to think that my government is so greedy and not at all concerned about ME the people. So now that I know all this what can I do?

]]>