Diaster in waiting....
 

On Fri, 21 Jul 2006 12:27:57 -0400, "ACP"
wrote:

Exxon 3Q 2005 gross profit 9.8%
Citigroup 2004 gross profit 15.7%
Altria Group 2004 gross profit 22%
Merck 2004 gross profit 25.3%

So there are other devils in the wood pile.

Figures from:

http://tinyurl.com/dj683

And exactly what is wrong with that? Do you have a problem with free
enterprise? If so, what would you replace it with?

Diaster in waiting....
 

"ACP" wrote in message
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"JoeSpareBedroom" wrote in message
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"ACP" wrote in message
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"JoeSpareBedroom" wrote in message
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"Wayne.B" wrote in message
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On Fri, 21 Jul 2006 11:39:59 GMT, "JoeSpareBedroom"
wrote:

So, a bunch of
suits are playing games and sending a ripple effect throughout the
economy.

Time for the law to change.

Ahhhh yes, government price controls. Great idea, have you ever seen
it in action? You wouldn't be able to buy oil at any price because
everyone would be on allocation, and another giant federal
bureauacracy would spring up to (mis)manage the whole mess.

If you think commodities are such an easy get-rich-quick scheme, why
not put on your own "suit" and throw some money in the ring. A quick
call or two to your broker and you can be a master of the universe
also.


I'm not talking about price controls. I'm talking about eliminating the
trading of one particular commodity for "sport", by people who are in
no way connected to the business. You know as well as I do that the
majority of the price jumps have been "on concerns about" things in
places like Iraq which, in your wildest dreams, could not have
materially affected oil production in any way, shape or form. The
concept is as stupid as private investors selling all their mutual
funds because Home Depot reports bad earnings for the last quarter.


Ah, but if problems in Iraq expand to other oil producing countries in
the region, there could be a "real" problem in the oil supply pipeline.

That's "if". In the past, they have not. Here's a question: What are your
3 favorite main courses for dinner?

The past does not always indicate the future.

"If" Bush 43 hadn't been elected. "If" Gore HAD been elected. "If Kerry
HAD been elected.

Chicken, Fish, and Pizza....

Chicken - perfect! Hypothetical headline on the radio news as you're driving
home tonight:

"The price of chicken jumped 4% today. Our reporter covering the Chicago
Board of Exchange explained that speculators are worried about new reports
indicating bird flu was found for the first time in Greenland"

This continues, and a year from now, whole Perdue roasting chickens are
selling for $32.99 per pound, with no end in sight.

See...certain industries and professions think they're entitled to special
treatment. Doctors don't like it when patients are called customers. Oil
companies think they're special and should be insulated more than other
businesses from the vagaries of raw material costs.

Diaster in waiting....
 

wrote in message
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On Fri, 21 Jul 2006 11:57:08 -0400, "ACP"
wrote:

"If" Bush 43 hadn't been elected. "If" Gore HAD been elected. "If Kerry
HAD been elected.

I doubt much would have been different. We seem to forget there was a
war going on in Iraq for the last year of 41s administration and the
entire 8 years of the Clinton administration. We could/should have got
out of there in 1991 instead of bombing them every day. The land war
was just the next loigical step if we didn't. After 9-11 "death from
the sky" was not an option.

Perhaps if we'd successfully gone after the country that sponsored those
9/11 animals, the world would've applauded. Even NOYB would've loved it.

Diaster in waiting....
 

On 21 Jul 2006 08:45:27 -0700, "Chuck Gould"
wrote:

The "free market" explanation for $4/gallon gas at the fuel dock and
the skyrocketing costs of chemicals that will soon put the price of new
fiberglass boats up to the stratosphere doesn't really work.

In a free market, competition to produce expands as demand to consume
expands and tends to moderate prices. Companies are forced to become
more efficient to flourish, even in prosperous times.

That will in fact happen, it just takes longer than you would like,
both for demand to decrease, and supply to increase. Our friends the
Saudis got caught up in that phenomenon after the crunch in the 70s
and early 80s. They and others increased production capacity, and
meanwhile we became more fuel efficient (for awhile). Prices dropped
like a stone until 1999 when gasoline was selling at the same price as
the early 50s adjusted for inflation. That's when I bought my Bertram
33 with the twin 454s and personally set off this latest crunch. :-)

It will happen again, but the cycle time is measured in 4 or 5 year
increments.

Diaster in waiting....
 

"Wayne.B" wrote in message
...
On 21 Jul 2006 08:45:27 -0700, "Chuck Gould"
wrote:

The "free market" explanation for $4/gallon gas at the fuel dock and
the skyrocketing costs of chemicals that will soon put the price of new
fiberglass boats up to the stratosphere doesn't really work.

In a free market, competition to produce expands as demand to consume
expands and tends to moderate prices. Companies are forced to become
more efficient to flourish, even in prosperous times.

That will in fact happen, it just takes longer than you would like,
both for demand to decrease, and supply to increase. Our friends the
Saudis got caught up in that phenomenon after the crunch in the 70s
and early 80s. They and others increased production capacity, and
meanwhile we became more fuel efficient (for awhile). Prices dropped
like a stone until 1999 when gasoline was selling at the same price as
the early 50s adjusted for inflation. That's when I bought my Bertram
33 with the twin 454s and personally set off this latest crunch. :-)

It will happen again, but the cycle time is measured in 4 or 5 year
increments.


You know what would help? A president who, without a script, could provide
this kind of information and offer a certain level of confidence and
understanding to the public. Someday.....

Diaster in waiting....
 

On Fri, 21 Jul 2006 15:54:08 GMT, "JoeSpareBedroom"
wrote:

What business are (or were) you in, Wayne?

I have spent most of my adult life managing computer systems for large
financial services organizations, not that it is really relevant to
the present discussion.

Diaster in waiting....
 

On Fri, 21 Jul 2006 13:35:09 -0400, Harry Krause
wrote:

100% taxes on excess profits,

What is an excess profit? More than Microsoft makes? If so, we might
see gasoline at $50 per gallon.

The utility companies have lived with regulated ROI for many years, to
the point that not many people want to invest in new power production.

Personally I'd rather reward the oil companies for finding adequate
supplies than stand in line for gas, or go on rationing.

Diaster in waiting....
 

On Fri, 21 Jul 2006 17:42:58 GMT, "JoeSpareBedroom"
wrote:

You know what would help? A president who, without a script, could provide
this kind of information and offer a certain level of confidence and
understanding to the public. Someday.....

Thanks (I think). For what it's worth I have no plans to seek higher
office, life on my flybridge is just fine. :-)

Diaster in waiting....
 

"Wayne.B" wrote in message
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On Fri, 21 Jul 2006 15:54:08 GMT, "JoeSpareBedroom"
wrote:

What business are (or were) you in, Wayne?

I have spent most of my adult life managing computer systems for large
financial services organizations, not that it is really relevant to
the present discussion.


I was wondering if you could imagine a situation where the selling price of
your product went haywire for reasons that could be described only as
"vapor".

Here's an idea: "Rochester Institute of Technology reports that enrollment
in their computer science department was down 14% compared with last year".
Next day, every IT person who's got a resumé online cranks up their salary
requirements because they interpret RIT's enrollment data to mean an
immediate shortage of IT staff.

Stupid, isn't it?

Diaster in waiting....
 

"Wayne.B" wrote in message
...
On Fri, 21 Jul 2006 17:42:58 GMT, "JoeSpareBedroom"
wrote:

You know what would help? A president who, without a script, could provide
this kind of information and offer a certain level of confidence and
understanding to the public. Someday.....

Thanks (I think). For what it's worth I have no plans to seek higher
office, life on my flybridge is just fine. :-)


It's not secret information, but did you catch any of Bush's accidental
on-mike remarks at the G8 summit? Not only am I sure he could not explain
this information, but I'm 100% positive he cannot even see a reason why he
should try.