Such sad news for Exxon Mobil Corp. They reported that their fourth-quarter net income fell 23%. I'd like to take credit for that with my plea for everyone to stop buying gas from any Exxon or Mobile station. As proof to you naysayers, do you think it was just a coincidence that the percentage of loss is the same as my old unit number when I was with Florence PD?
Their profit fell to $6.05 billion down from $7.82 billion a year ago. But it was all caused by their refining and marketing business which caused a fourth-quarter loss of $189 million from a profit of $2.6 billion a year earlier.
Exxon Mobile's largest unit which specializes in production of oil and natural gas, earned $5.78 billion, a $146 million increase.
Overall, revenue rose to $89.8 billion from $84.7 billion, as crude oil prices climbed from year-ago levels and production grew.
For all of 2009, Exxon Mobile's annual profit fell 56% to $19.42 billion, from a U.S. record $44.06 billion in 2008. How can the executives possibly maintain their lifestyles with a loss like that?? I hope we can get the Health care package passed soon so they will be able to get coverage for their families!
But don't jump out of a skyscraper yet..... Exxon will remain the highest earning company in the S&P 500 index, a rank it has held since 2000. So don't feel too sorry for the company, it could have been much worse. For example, Walmart is only expected to earn $14 billion and Microsoft earned $14.6 billion.
So folks, if we can expand our protest group to a few more billion people, we may be able to someday have Exxon making profits in the millions and not billions. Get your friends and family to join!
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