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Article #48Re: Exxon-Mobil earned 24 BILLION Dolars in profit last year
From: LeMod Pol
Date: Thu, 18 Aug 2005 13:28
Date: Thu, 18 Aug 2005 13:28
61 lines
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3363 bytes
jimoran wrote: > > You're just plain wrong about Sunoco, as any person who has held their > stock for any amount of time can tell you. For decades, the stock -- > and the company -- was in the toilet. With four refineries in this > area providing many jobs I am glad Sun is finally prospering. > Remember, profits mean jobs. Not necessarily! The Pew family with firm control of the company had little interest in the market price of the shares. They cared nothing for the shareholders. In my post yesterday ID:<430363AA.50AB12DA@execulink.com> "I did business with the Pews (sunoco) 40 years ago and they were not nice to deal with then, so I doubt if any of the family are still there that they would be any better today. There is a 'cute' little loophole in the tax laws that you can float a million ton tanker through. It is used by companies with offshore interests to evade US taxes. For example, Rupert Murdoch's News Corp pays "royalties", deductible from taxable income, to an offshore "affiliate", then "borrows" it back to finance his television operations. The interest is, of course, a deductible expense. Of course there is a limit to the amount that can be hidden that way and it is impossible, in this expanding market, for an oil company to "minimize" profits ... <G> -- LP "We are fighting today for security, for progress, and for peace, not only for ourselves but for all men, not only for one generation but for all generations. We are fighting to cleanse the world of ancient evils, ancient ills." Franklin Delano Roosevelt State of the Union Address - 1942
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Date: Thu, 18 Aug 2005 09:28:43 -0400
From: LeMod Pol <modpol@execulink.com>
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Subject: Re: Exxon-Mobil earned 24 BILLION Dolars in profit last year
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