The Politics of Excess

Discussion in 'Texas Bikers' started by Bill Walker, Apr 25, 2006.

  1. Bill Walker

    Bill Walker Guest

    The earnings of our energy and oil companies have been widely reported,
    during this past year.. CEO of EXXON recently retired with a package that
    equalled more than half a billion dollars.. That doesn't include his fringes
    which he'll enjoy for the rest of his life.. These boards of directors who
    approve these packages aren't affected by one thin dime..

    EXXON isn't isolated.. BNP, Mobil and Shell are also bestowing gracious
    gratuities to their own high dollar CEOs.. These costs are factored into the
    prices which the consumer pays at the pump..

    Of course the race to get into all this action is being played out by other
    industries, most of them oil industry related.. Such as the automobile
    industry in the United States.. as well as the utility companies.. Soon as
    they figure out how to connect water with energy, there will be furthur
    exploitation of the cost to our natural resources.. hmmm .. Of course, our
    water resources are being exploited, today.. aren't they ? Those cute
    little bottles of water which we puchase at our grocery stores and
    convenience markets are evidence of this exploitation.. Not too long ago, we
    can all recall water fountains and coolers made available, at no cost to the
    consumer.. Now, they have become a rarity..

    Back to the oil and energy corporations which are stripping our pocketbooks
    and wallets whenever we fill up our motorcycles and other vehicles which we
    are obliged to use, in order for survival in this mobile society.. President
    Bush has called for yet another investigation to determine if those
    corporations are guilty of crimes with the record high prices which continue
    to skyrocket across America.. What ?

    The structure of Bush's energy policies have legalized the rape of every
    consumer who is operating any kind of motor vehicle.. Those policies were
    set by whom ? Who knows ? When Americans tolerated the secret energy
    policy gatherings of Vice President Cheney .. they consummated the
    beginnings of the end for transparency in government.. To this day, we have
    no idea who was instrumental in formulatting the energy policies of this
    government..

    The prices at the pump.. the high cost of heating and lighting our homes are
    products of our own passivity in the functioning of our government..
    Implicitly, we've endorsed the devastation to our own economy.. Our
    government has conditioned all of us, to the concept that all is well and
    unavoidable.. We've come to accept the obscene profits recorded, as routine
    and typical business practices.. Even to the point that while those
    corporations are stripping the consumers, the policies of our government can
    award billions of our dollars to subsidize the industires, as tax refunds..
    I don't get it.. even though record profits and obscene rewards for the
    executives of these corporations, are common knowledge.. as reported in open
    records and the media.. those corporations still qualify for tax
    incentives.. It would apprear that nothing is out of reason, as long as
    consumers will bear the cost.. and voters approve .. What is wrong with the
    voters, who'd permit legislation that will legalize such performance ..

    One solution for relief to consumers, would be to consider legislation that
    would make no statement about who is hired by these corporations, nor how
    much they would be paid.. That legislation should be carefully crafted to
    make the boards of directors, personally responsible for those salaries of
    those individuals .. The Shareholders of the corporations would sacrifice
    part of their earnings to pay those executives salaries and benefits.. Not
    one thin dime to be passed along to the consumer..

    While these investigations of wrong doings are being conducted by whoever ..
    it's doubtful that any wrong doing will be found.. The energy policies of
    this administration were initiated in secret.. and without a doubt, there
    were secure protections to provide for the execution of yet another rape of
    the consumers.. Have we had enough, yet ? Regards and ride safe, if not
    economically..

    Bill Walker
    Irving
     
    Bill Walker, Apr 25, 2006
    #1
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  2. Bill Walker

    Vince R. Guest

    According to the Washington Post, historically one of the most liberal,
    environmentalist, and anti-business media voices in this country:

    **************************************************************************

    In 2004 Exxon Mobil earned more money -- $25.33 billion -- than any
    other company on the Fortune 500 list of largest corporations. But by
    another measure of profitability, gross profit margin, it ranked No.
    127.

    Jay Taparia, a lecturer in finance at the University of Illinois at
    Chicago and an expert on interpreting financial statements, said a
    quarterly profit or loss can only be judged in context, given the
    history of the company and its long-term prospects.

    "People who are freaking out about Exxon's record profit are the same
    people who were freaking out about AOL Time Warner's record losses" of
    $98.2 billion in 2002, he said. "One quarter's net income or loss
    doesn't mean anything."

    A $9.9 billion quarterly profit is mostly a function of Exxon Mobil's
    size. It had sales of $100 billion this quarter, more than any other
    U.S. company. At its current rate of growth, Exxon Mobil will be the
    biggest U.S. corporation this year by revenue, bigger than Wal-Mart
    Stores Inc., which had $288.19 billion in revenue last year. Generally,
    the bigger the company, the bigger the bottom line.

    Even so, many companies smaller than Exxon Mobil "earn" more, depending
    on what measure is used.

    Most financial institutions, such as commercial banks, are routinely
    more profitable than Exxon Mobil was in its third quarter. For example,
    Exxon Mobil's gross margin of 9.8 cents of profit for every dollar of
    revenue pales in comparison to Citigroup Inc.'s 15.7 cents in 2004. By
    percentage of total revenue, banking is consistently the most
    profitable industry in America, followed closely by the drug industry.

    Altria Group, the maker of Marlboro and other cigarettes, made 22 cents
    for every dollar of revenue in 2004, and pharmaceutical company Merck
    made 25.3 cents for every dollar of revenue in 2004.

    By other measures, such as profit per employee, return on invested
    capital and free cash flow, Exxon Mobil is nowhere near a standout.

    Oil industry analysts also point out that while times are good for oil
    companies, one of the reasons is the huge American demand for gas at a
    time when supply is constrained. And the cost of extracting and
    refining oil in the coming years is only going to increase, requiring
    hundreds of billions of dollars of investment. Energy research firm
    John S. Herold Inc. last month predicted that despite short-term
    increases in profits, higher costs will probably make many U.S. oil
    companies less profitable in the next five years, even as their revenue
    grows rapidly.

    ********************************************************************************************

    Where is the investigation into the obscene profits of the banks, fast
    food restaurants, grocery stores, clothing industry, pharmaceutical
    houses, and housing developers? Shouldn't all these perpetrators of
    mass price gouging against the defenseless American consumer be hauled
    up to testify before Congress as to how they justify their outrageous
    behavior? The secret policies of the failed Bush administration are
    permitting more than just the fat pigs of the immoral oil companies to
    fatten themselves at the expense of the torn and bleeding financial
    flesh of the American worker. Where are our protections? Who is
    looking out for the little guy? Why has the American taxpayer not
    risen up in the streets against these swines of industry?
    These boards of directors must be reined in. If the shareholders in
    the companies won't do it, it is up to the American people and their
    elected representatives to take action!
     
    Vince R., Apr 25, 2006
    #2
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  3. who controls it and how do you rectify it ?
     
    another viewer, Apr 26, 2006
    #3
  4. Bill Walker

    Bill Walker Guest

    What we are seeing now, is the results of an Energy Task Force that was
    convened and chaired by Vice President Dick Cheney, in 2001.. Although the
    members of that task force were never divulged to the public, we do know
    that at least one of them is being tried for corruption and conspiracy in
    Houston, as we speak.. The energy policies of this admiinistration was
    developed by that Energy Task Force and those policies are the primary cause
    of the consequences that Americans and the enitre world are paying ..

    When American voters and consumers tolerated Dick Cheney and that secret
    Energy Task Force, the consequences were sure to follow.. The supporters of
    such an administration are the ones that are really to blame and as long as
    Americans tolerate such insanity, we'll continue to slide down the slippery
    slope of corportist controlled government.. Regards Morgan

    Bill Walker
    Irving
     
    Bill Walker, Apr 26, 2006
    #4
  5. Bill Walker

    BJayKana Guest


    ''When American voters and consumers tolerated Dick Cheney and that
    secret Energy Task Force, the consequences were sure to follow.. The
    supporters of such an administration are the ones that are really to
    blame and as long as Americans tolerate such insanity, we'll continue to
    slide down the slippery slope of corportist controlled government..  
    Regards Morgan
    Bill Walker
    Irving



    and quite a few of your Democratic officials were part of that deal.
    They all goofed up.
     
    BJayKana, Apr 26, 2006
    #5
  6. Bill Walker

    Bill Walker Guest


    ''When American voters and consumers tolerated Dick Cheney and that
    secret Energy Task Force, the consequences were sure to follow.. The
    supporters of such an administration are the ones that are really to
    blame and as long as Americans tolerate such insanity, we'll continue to
    slide down the slippery slope of corportist controlled government..
    Regards Morgan
    Bill Walker
    Irving



    and quite a few of your Democratic officials were part of that deal.
    They all goofed up.

    Really... They didn't have some of those secret meetings in Hooks, did they
    ? Maybe you missed it... The Energy Task Force was made up of Cheney
    co-horts.. The ones who participated are not known and the meetings of the
    Task Force were secret.. It is known that Ken Lay was amongst them while
    they were developing the Energy Policy for this administration.. Whoops.. I
    almost forgot.. those secret meetings took place in Washington, DC and not
    in Bowie County, Tx... hmmmmm.... Maybe you got that idea from watching Bill
    O'Reilly.. huh ?
     
    Bill Walker, Apr 26, 2006
    #6
  7. Bill Walker

    BJayKana Guest


    straightens Bjay out by saying:
    ''those secret meetings took place in Washington, DC and not in Bowie
    County, Tx... hmmmmm.... Maybe you got that idea from watching Bill
    O'Reilly.. huh ?



    I did. Or (?) was it Hardball with Chris Mathews. If they were so
    secret, how do you know who was and wasnt there, unnnhuh?
     
    BJayKana, Apr 26, 2006
    #7
  8. Bill Walker

    Bill Walker Guest

    Yup.. I was right.. it didn't happen around Bowie County, so it's a cinch
    that you don't know anything about it.. lol... The problem is, no one knows
    who was at the Energy Task Force meetings... It's pretty common speculation
    that the CEO of Enron attended, because of his itinerary at the time..
    unnnhuh....
     
    Bill Walker, Apr 26, 2006
    #8
  9. Bill Walker

    BJayKana Guest


    Bjay,The problem is, no one knows who was at the Energy Task Force
    meetings...



    'Good Point, that's what I was thinking''. We just dont know!
     
    BJayKana, Apr 26, 2006
    #9
  10. Bill Walker

    John Miranda Guest

    True, but having a hand in it is not the same thing as controlling it.
    The U.S. government surely regulates and taxes and legislates all kinds
    of things that affect business (arguably both good and bad) but it does
    not, in general, control business or markets.

    At best, it would seem to try to mitigate the excessive swings of
    certain economically key markets, at worst, it attempts to micromanage
    market forces that aren't well understood in the first place and which,
    if left to the market, would almost always prove to be self correcting.

    Regardless of who is in power, market intervention by the government is
    almost always counterproductive.

    Except in Cuba, of course.
     
    John Miranda, Apr 27, 2006
    #10
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