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Automotive News & Views Are gas prices fueling your pain? 
10042 messages, Last post on Jul 12, 2008 at 3:07 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: fezo (Apr 23, 2008 5:31 am) Criminal? That is ridiculous! Yes they loosened there standards, but I reiterate, budgeting your household is a personal responsibility. So did the at-home conversations go like this? "The bank will give us a $200,000 loan. This is great. But the payments are going to be $1,500 a month". "But honey, we can't afford that payment." "But they are willing to give it to us! We can't pass up this opportunity! Let's just do it! "
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Replying to: chadx (Apr 23, 2008 6:48 am) 
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Replying to: bpizzuti (Apr 23, 2008 5:25 am) I think you just contradicted yourself in the same paragraph.  If oil goes up, gasoline goes up, just like if wood prices go up, lumber goes up. If oil is that expensive, and the "oil" companies are STILL making huge profits, But they aren't making huge profits, year affter year. They're making decent profits now. Go to any financial webpage, lookup an oil company - like Exxon-Mobil (symbol XOM) and do some research. The value of stock is $94 and the EPS (earnings per share) is $7.28. There are 5.3 billion shares of stock issued. So people like me and anyone who has a 401K, has about $450B invested in Exxon-Mobil. We're making about 10% per year, hardly that extravagent. EPS is what investors look at, and the %-profit they make. Exxon-Mobil's profit is not large relative to what people have invested. |
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Replying to: snakeweasel (Apr 22, 2008 3:34 pm) One one of my jobs (transportation) I get OT after 8 and after 40. Not sure the state say after 8 or if it's our contract. On my other job (farming) I get the same $4 per hour no matter how many hours I work.
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Replying to: kernick (Apr 23, 2008 7:09 am) Plus whatever money stayed in the company fir various reasons (some of which gets re-invested, but they count the new 10,000 sq foot executive suite as an investment too, heh). If oil goes up, gas goes up, yeah. But if oil goes up, and gas goes up, and Mobil's profits go up, that means that they're raising the price of gas faster than the price of oil is going up, because their expenses are falling in relation to their income. |
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Replying to: bpizzuti (Apr 23, 2008 7:55 am) |
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Replying to: texases (Apr 23, 2008 8:02 am) I saw the pipe stacked at Valdez back in '73 right before construction started on the TransAlaska pipeline. Time files. Some predicted the pipeline would have been removed by now - Prudhoe production has fallen and it's not economic to run the pipeline half full I guess, so the state really wants more oil flowing through it. Otherwise they won't reap the royalty money that runs the state.
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Replying to: bpizzuti (Apr 23, 2008 7:55 am) EPS is the net-profit/# of shares issued. Investors compare the EPS to the price of the stock to determine if they want to invest in the company. If this is lower than some other company or industry, people start to think about putting their money in other companies. If a companyy the size of Exxon-Mobil was only going to make $5B per year, investors would pull their money pretty quickly, and then guess what? Exxon-Mobil no longer has the $, or wants to sink the money into finding and refining oil. As an investor I want a company to optimally earn 10+% on the money they have. If I buy stock at $90/share, I expect the EPS + the dividends to be 10+%. Why would I risk my money for less of a return? If Exxon-Mobil only earned $3/share, I'm pulling my money and buying U.S. treasury bills! And remember that oil companies did not always make $10% a year, they had some tough times. So I do not think its awful if an oil company makes 15% this year, which may offset only having made 5% a few years ago.
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Replying to: bpizzuti (Apr 23, 2008 7:55 am) Bernnke needs to stop dropping the fed funds rate and start inching it back up. Wall Street has finally calmed down and is trading within a reasonable range. Banks have taken their losses (Most of them imaginary due to ARMS resets that they wont be getting) Lets get back on track with the dollar index and Oil will settle back down. PS. I am already paying near $4/gal as my car can only use 91 octane and above. |
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Replying to: bpizzuti (Apr 23, 2008 2:25 am) Didn't these folks retain a lawyer to make sure that didn't happen? Who buy's a million dollars worth of real estate without making sure you understand what's going on? As to the people's failure to anticipate the rise in gas prices I don't think it's too common to consult commodities experts before you buy a car. In hindsight, maybe we should have.
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