Exxon 15 billon profit!!!

southern yankee · Post by **southern yankee** » Thu Oct 30, 2008 3:52 pm

that i just heard on the news. Was the BIGGEST profit ever made. Sure isn't for the blue collar employees of EXXON. This was a third quarter profit. This is just unreal. while everyone else is going to hell in a hand basket!!!!:-5:-5:-5:mad:

QUINNSCOMMENTARY · Post by **QUINNSCOMMENTARY** » Thu Oct 30, 2008 5:39 pm

southern yankee;1040126 wrote: that i just heard on the news. Was the BIGGEST profit ever made. Sure isn't for the blue collar employees of EXXON. This was a third quarter profit. This is just unreal. while everyone else is going to hell in a hand basket!!!!:-5:-5:-5:mad:

Why, what is wrong with profit? What funds these employees pensions and 401(k) employer contributions and where will the money come from to reinvest in new oil exploration and technology? In New York they are crying the blues because of lost revenue and disappearing charitable contributions, guess why?

The profit in the form of stock value goes to shareholders including many pension trust funds supporting the benefits for blue and all other color workers. Would you rather there be no profit like GM and Ford and Chrysler so you can help bail Exxon out as well?

southern yankee · Post by **southern yankee** » Thu Oct 30, 2008 5:46 pm

QUINNSCOMMENTARY;1040239 wrote: Why, what is wrong with profit? What funds these employees pensions and 401(k) employer contributions and where will the money come from to reinvest in new oil exploration and technology? In New York they are crying the blues because of lost revenue and disappearing charitable contributions, guess why?

The profit in the form of stock value goes to shareholders including many pension trust funds supporting the benefits for blue and all other color workers. Would you rather there be no profit like GM and Ford and Chrysler so you can help bail Exxon out as well? the ceo's get the BIG MEGGA BUCKS. not (Excuse the phrase) Joe six pack. No their 401k's are going hell too. My hubby is in oil field. we lost over $8,000 so far.

Accountable · Post by **Accountable** » Thu Oct 30, 2008 6:43 pm

southern yankee;1040245 wrote: the ceo's get the BIG MEGGA BUCKS. not (Excuse the phrase) Joe six pack. No their 401k's are going hell too. My hubby is in oil field. we lost over $8,000 so far.
Do you have employer matching?

southern yankee · Post by **southern yankee** » Thu Oct 30, 2008 6:52 pm

:-1Accountable;1040264 wrote: Do you have employer matching? 50 cents on the dollar. Until this gets better. if it ever does. Hubby dropped from 9% of his check to 3%. We are getting VERY SCARD> the nest egg. is a joke now:-1

QUINNSCOMMENTARY · Post by **QUINNSCOMMENTARY** » Thu Oct 30, 2008 6:52 pm

southern yankee;1040245 wrote: the ceo's get the BIG MEGGA BUCKS. not (Excuse the phrase) Joe six pack. No their 401k's are going hell too. My hubby is in oil field. we lost over $8,000 so far.

But what does that have to do with the profit of the corporation? Exxon employs over 100,000 people around the world including 30,000 in the US. The Chairman has a base pay of $5 million, (plus incentive pay) how much do you think running the largest company in the world is worth?

Accountable · Post by **Accountable** » Thu Oct 30, 2008 6:57 pm

southern yankee;1040268 wrote: :-1 50 cents on the dollar. Until this gets better. if it ever does. Hubby dropped from 9% of his check to 3%. We are getting VERY SCARD> the nest egg. is a joke now:-1
That's an instant 50% profit on your investment! Just try to make that in the market. It's not likely to drop another 50% so you're making money if you max out your investment. You've moved your funds into a money market within the 401K, right?

QUINNSCOMMENTARY · Post by **QUINNSCOMMENTARY** » Thu Oct 30, 2008 6:58 pm

southern yankee;1040268 wrote: :-1 50 cents on the dollar. Until this gets better. if it ever does. Hubby dropped from 9% of his check to 3%. We are getting VERY SCARD> the nest egg. is a joke now:-1

VERY big mistake, you should be increasing it not decreasing it and at the same time losing the Company match. You could lose 50% of your account and still be even just because of the company match, don't give that up. Just be sure you are diversified in a variety of types of investments.

Stay the course and keep investing big time.

southern yankee · Post by **southern yankee** » Thu Oct 30, 2008 7:02 pm

Accountable;1040271 wrote: That's an instant 50% profit on your investment! Just try to make that in the market. It's not likely to drop another 50% so you're making money if you max out your investment. You've moved your funds into a money market within the 401K, right? we are both are uneducated in this field. my hubby says we have to leave the company stock alone. the rest he says is in a glorified savings account. Very conservative. what you do near retirement.

QUINNSCOMMENTARY · Post by **QUINNSCOMMENTARY** » Thu Oct 30, 2008 7:17 pm

southern yankee;1040273 wrote: we are both are uneducated in this field. my hubby says we have to leave the company stock alone. the rest he says is in a glorified savings account. Very conservative. what you do near retirement.

Unless the plan requires that you cannot move the company stock to another fund (which is not allowed under the law, you must be allowed to move it after a certain period), you should have nothing in the stock of your employer. The date you plan to retire is not the important thing, the date you will have to start using the money to live on is the date to focus on.

In any case, you should have a mix of stock funds, bond funds and perhaps a modest amount in some form of fixed income such as what is called a stable value fund or perhaps in your plan a money market fund. If you don't have a mix with some stock funds you will have a difficult time keeping up with inflation in the years ahead. The older you get the mix should move more into bonds and fixed income funds to preserve your account balance while generating some interest to keep up with inflation.

southern yankee · Post by **southern yankee** » Thu Oct 30, 2008 7:24 pm

QUINNSCOMMENTARY;1040281 wrote: Unless the plan requires that you cannot move the company stock to another fund (which is not allowed under the law, you must be allowed to move it after a certain period), you should have nothing in the stock of your employer. The date you plan to retire is not the important thing, the date you will have to start using the money to live on is the date to focus on.

In any case, you should have a mix of stock funds, bond funds and perhaps a modest amount in some form of fixed income such as what is called a stable value fund or perhaps in your plan a money market fund. If you don't have a mix with some stock funds you will have a difficult time keeping up with inflation in the years ahead. The older you get the mix should move more into bonds and fixed income funds to preserve your account balance while generating some interest to keep up with inflation.
i must sound like a hillbilly. but we had our 401K pretty moderate. when the nose dive got really BAD. hubby moved everything but company stock. to the glorified saVINGS ACCOUNT. So lost and confused:(

Accountable · Post by **Accountable** » Fri Oct 31, 2008 2:47 am

southern yankee;1040286 wrote: i must sound like a hillbilly. but we had our 401K pretty moderate. when the nose dive got really BAD. hubby moved everything but company stock. to the glorified saVINGS ACCOUNT. So lost and confused:(
That's what we did, too, for our ROTH IRAs (mine & my beloved's). The money market fund is a glorified savings account designed for safety. If you did it early enough then the biggest drop is done. We're buying back in, small amounts at a time. If Quinn's advice disagrees with mine go with his because he's the finance guy. But I agree with him that you should keep putting as much as you can possibly afford into that 401K up to the maximum point of matching, because of the instant 50% tax-free gain.