Exxon-Mobil executives and stock holders will not be hurting this winter. On October 27, 2005 the company released its 3rd Quarter 2005 earnings report. For the first time ever, a publicly traded corporation reported top line revenue exceeding $100 BILLION dollars. A good portion of that top line fell to the bottom line – earnings rose 75% over the same quarter last year, totalling $9.92 BILLION.
Those numbers are quite mind boggling. Here are some comparisons to state government revenues for three rather large states:
| Annual state government revenue for all of 2004 | Population (2000 census) | |
| California | $89.27 Billion | 33,871,658 |
| Texas | $62.07 Billion | 20,851,720 |
| New York | $100.17 Billion | 18,946,457 |
| Florida | $30.76 Billion | 15,982,378 |
Now compare that to the following:
Exxon-Mobil July-Sept 2005 – $100.72 Billion – number of employees – 105,200
In other words, it was a close race, but a company with just over 105,00 full time employees received more revenue during a single three month period than the richest of the four largest states in the US did during an entire year.
Neil Cavuto may disagree, but I think that indicates a rather significant economic problem. (Yesterday, on Your World, Neil Cavuto thought that Exxon-Mobil’s profits were only fair and tried to claim that they were only profiting 5 cents on the dollar. Both his facts and his understanding of those facts are subject to question.)
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