July 28, 2006
Exxon Mobil--Too Much Profit?
Posted by Lisa Fairfax

Exxon Mobil reported second quarter profits of $10.36 billion, its second best quarter ever.  But the Washington Post reports that the profit report has been met with a round of criticism from those who believe that the company is getting rich at the expense of consumer motorists.  Apparently even analysts are concerned about the pressure such profits may generate from outside groups.  Indeed, apparently there are some in Congress who want to tax oil companies on what they see as their "profit windfall."  So, according to the Washington Post, Exxon Mobil had to spend time in its call to analysts allaying concerns about the negative attention and reaction its profit report would generate.  Since I have been spending a lot of time looking at corporate rhetoric, I have to wonder if this is just talk or if there is really some concern that the perception that Exxon Mobil is getting rich while motorists suffer will have some serious negative repurcussions.  Ultimately, however, this story made me think about the famous quote from Henry Ford who once described the large profits the Ford Motor Co. was making as "awful." 

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