The ‘Have-Oils’ and the Have-Nots

Staff / Truthdig Aug 3, 2008 Skyrocketing oil and natural gas prices in the second quarter of this year led ExxonMobil to report the highest profit ever by an American company. Despite falling production and rising operating costs, Exxon brought in $138 billion in revenue and reported an astounding net income of $11.7 billion. Who else is profiting? Dig deeper ( 1 Min. Read )

What Else Is New? Economy Slumps, Oil Profits Surge

Staff / Truthdig Aug 1, 2008 Despite the massive federal stimulus package, national GDP only grew 1.9 percent from April to June, the Commerce Department has announced, and it actually shrank in the last quarter of 2007. Meanwhile, high gas prices, supposedly reflecting costs, spiked profits of oil companies, with Exxon recording its most profitable quarter ever. In fact, reports the NYT, "It was the highest quarterly profit ever for any American company, as Exxon made nearly $90,000 a minute." Dig deeper ( 1 Min. Read )

$10.9 Billion Ain’t What it Used to Be

Staff / Truthdig May 1, 2008 Exxon Mobil made $10.9 billion last quarter, but investors were disappointed that the world's biggest oil company had only its second-biggest quarter ever. With a product that is harder and harder to find, shareholders who demand even bigger windfalls and consumers who are about ready to revolt, you almost have to feel sorry for the oil companies. No, you really don't. Dig deeper ( 1 Min. Read )

Turbulent Times in N.Y., L.A. Newsrooms

Staff / Truthdig Feb 16, 2008 It's been a lively week in the newspaper world, and the excitement hasn't exactly been of the desirable variety. Earlier in the week, Tribune Co. Chairman and CEO Sam Zell announced major cutbacks at Tribune papers across the country, and then The New York Times' Valentine's Day edition brought word that the Gray Lady will also be downsizing its staff. Dig deeper ( 1 Min. Read )

Aboard the Condoleezza Rice

Robert Scheer / Truthdig Feb 13, 2008 Whadda you mean "we," Mr. TV Pundit? When you say "we" are doing better in Iraq or, even more absurd, that "we" were right to invade that country in the first place, are you putting Joe Blow American in the same bag as the top officers of Exxon, which made $40.6 billion in profit last year? Dig deeper ( 3 Min. Read )

Halliburton Profits Spike on Spinoff of Subsidiary

Staff / Truthdig Jul 24, 2007 Thanks in part to executives' decision to unload the trouble-prone offshoot KBR in April, multinational corporation (and Dick Cheney's former employer) Halliburton more than doubled its profits during the three-month period ending June 30, according to the BBC. Dig deeper ( 1 Min. Read )

Supersized Paychecks for Oil Execs in 2005

Staff / Truthdig Aug 30, 2006 CEOs of the largest 15 oil companies averaged $32.7 million in compensation in 2005. This sum is more than twice the amount paid out to CEOs at other "large U.S. firms." More on the study released by the Institute for Policy Studies and United for a Fair Economy here. Oink, oink! (via huffpo) Dig deeper ( 1 Min. Read )

Wal-Mart Can’t Hack it in Japan

Staff / Truthdig Aug 23, 2006 The retail giant has met its match in the Japanese consumer: Seiyu, Wal-Mart's Japanese division, has posted $465 million in losses for the first half of 2006. It's not looking good overseas for the shopping mecca?German and South Korean divisions were shut down earlier this year after poor performance. Dig deeper ( 1 Min. Read )

Perversion for Profit

Staff / Truthdig Aug 6, 2006 Check out this ultra-campy educational film from the 1960s about the rise of pornographic culture. Money quote: "We know that once a person is perverted, it is practically impossible for that person to adjust to normal attitudes in regards to sex." (h/t: BoingBoing) Dig deeper ( 1 Min. Read )

Profits up 40% at Shell, 36% at Exxon

Staff / Truthdig Jul 27, 2006 No need for creative accounting at these outfits: It's good to be an oil company these days. Dig deeper ( 1 Min. Read )

Exxon Posts Huge Profits as Gas Prices Soar

Staff / Truthdig Apr 27, 2006 Exxon announced first-quarter profits of $8.4 billion. Gas prices are averaging over $3 per gallon. 'Nuf said. Dig deeper ( 1 Min. Read )

Study: Oil Company Profits, Not Crude Prices, Are Pumping Gas Prices

Staff / Truthdig Apr 21, 2006 Corporate profiteering--not increased crude oil prices, not ethanol switch-overs--is responsible for recent gas price increases in California, according to an independent watchdog group. Sounds like Enron all over again. Dig deeper ( 1 Min. Read )