GM Loses $38.7 billion in 2007, Exxon Mobil Makes $40.6 billion in 2007

[Analog]

Exxon Mobil Corp. has no profit records except its own to break, and the world's largest oil company just keeps breaking them.

For the third year in a row, the Irving-based behemoth set new ceilings for annual and quarterly profits ever earned by a U.S. company, reaping the benefits of last year's dramatic surge in oil prices.

The company's quarterly profit of $11.6 billion and annual take of $40.6 billion ? $77,213 per minute ? won accolades from analysts, yawns from investors and criticism from some Democratic lawmakers.


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DETROIT -- General Motors Corp. today announced it will offer beefed-up retirement incentives of up to $62,500 to its most senior hourly workers, to make way for lesser-paid new hires under a deal struck with its union.

The news came as GM reported a record annual loss of $38.7 billion, almost all of which came from a massive tax write down the automaker took last fall.

All of GM's 74,000 blue-collar workers will receive some form of buyout offer or retirement incentive. Retirement-ready skilled trade workers will get $62,500 plus retiree benefits to leave, while production workers will get $45,000 and benefits. A range of buyout offers of up to $140,000 will be extended to those workers not ready to retire.

http://www.detnews.com/apps/pb...80212/AUTO01/802120411

 

[Vette73]

GM actually turned a profit but the loss "almost all of which came from a massive tax write down the automaker took last fall."

One of the reasons their stock is up even after this news.

 

[Nitemare]

OPEC of the West

 

[CPA]

and yet, many morons would have us to believe that the car industry is in cahoots with the oil giants to keep producing heavy, low-mpg vehicles. Why would GM kill itself for the oil industry?

 

[LS21]

because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

 

[yllus]

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

Man, Jews are like frickin' Voltron. Just wait until they form up. :Q

 

[Chryso]

It is all accounting. Accountants are like evil magicians who can make the numbers say what they want.

 

[Queasy]

Originally posted by: Marlin1975
GM actually turned a profit but the loss "almost all of which came from a massive tax write down the automaker took last fall."

One of the reasons their stock is up even after this news.

Yep. GM is trying to shed all the expenses that keep holding it down. They still need to redo their car line-up. They still do the thing where they have one car under four different brand names way too much.

BTW, Exxon paid $27.9 billion in tax for 2007. That's more than the bottom 50% of income tax payers paid ($27.4 billion).

 

[JulesMaximus]

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

I knew blaming the Jews would come into this sooner or later.

 

[Slew Foot]

Originally posted by: Queasy

Yep. GM is trying to shed all the expenses that keep holding it down.

You mean like employees?
http://forums.anandtech.com/me...=2153629&enterthread=y

 

[Capt Caveman]

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

:Q

 

[Queasy]

Originally posted by: Slew Foot

Originally posted by: Queasy

Yep. GM is trying to shed all the expenses that keep holding it down.

You mean like employees?
http://forums.anandtech.com/me...=2153629&enterthread=y

Union employees, yep. It is any wonder that GM (and Detroit in general) is taking a financial beating while foreign car makers are building manufacturing plants across the south?

 

[BrownTown]

The funny thing is that in terms of reserves Exxon Mobile isn't even close to the largest oil company in the world. Its just that all the largest oil companies are government owned and so they don't ever report about their financing and such.

 

[Ricochet]

Originally posted by: JulesMaximus

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

I knew blaming the Jews would come into this sooner or later.

Those d@mn Zionist. Through control of the World Banks, CEOs of major corporations, and even the media, they pretty much control our very lives.


Disclaimer: The above statement is made in jest. Please don't turn off my internet.

 

[LegendKiller]

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

Wat?

 

[Queasy]

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

These Jews don't also happen to be shape-shifting lizard people do they? Cause, man...that would really suck.

 

[maziwanka]

Originally posted by: JulesMaximus

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

I knew blaming the Jews would come into this sooner or later.

hahaha

 

[JS80]

Originally posted by: Queasy

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

These Jews don't also happen to be shape-shifting lizard people do they? Cause, man...that would really suck.

That would suck because I'm marrying one next Saturday.

 

[ja1484]

Shape-Shifting Lizard Jews.

I love the internet

 

[waggy]

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

people actually beleive that? hmm wow.


i know people dislike jews. but that they control the world and top business? LOL

 

[Squisher]

Originally posted by: Queasy

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

These Jews don't also happen to be shape-shifting lizard people do they? Cause, man...that would really suck.

I hate those kind.

 

[OutHouse]

how can a company loose 38.7 billion in one year and still stay open?

 

[newb111]

Originally posted by: JS80

Originally posted by: Queasy

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

These Jews don't also happen to be shape-shifting lizard people do they? Cause, man...that would really suck.

That would suck because I'm marrying one next Saturday.

A shape shifting lizard?

 

[ja1484]

Originally posted by: Citrix
how can a company loose 38.7 billion in one year and still stay open?

"lose"

And they can do that because:

1) They have quite a few monies.
2) Magic bookkeeping!

 

[ja1484]

Originally posted by: newb111

Originally posted by: JS80

Originally posted by: Queasy

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

These Jews don't also happen to be shape-shifting lizard people do they? Cause, man...that would really suck.

That would suck because I'm marrying one next Saturday.

A shape shifting lizard?

A shape-shifting lizard Jew.