Fortune 500: Full list
What do you think of the companies on the Fortune 500 list this year? Have you worked for any of these companies, or bought their products or services? Tell us what you think. The best replies will be published here, and possibly in a future story on CNNMoney.com.
Everyone talks of America is a failing Democracy… WHAT? First off, America is a Republic, it was created as a republic and operates as a republic. The people of this nation have made it what it is… we’re constantly looking for an easier means to make a living. Thats the reason why ground-breaking thinking like that of Walmart and Carmax, which is to provide “affordable” goods will continue to prosper. These companies represent to exactly what America was founded to be! Sam Walton worked hard to create his “dream” and earned his way. This is exactly the same way in which young start-ups such as Facebook and MySpace should also be viewed upon with the same level of respect. They simply work for the masses and should not be ridiculed nor condemned simply because their founders knew how to end up selling them off. Imagine how stagnant this world would be without individuals in this great “republic” inspired enough to chase their dreams. There would be certainly be no Lockheed or Boeing.
For those who have commented on Sam Walton’s philosophy being to beat small busines, you are misinformed. Sam’s mission was to help the customer by providing low prices and product selection to those in small towns and rural areas who had only the offerings of limited assortments and high prices at those small businesses you referenced. He saw his friend and family struggle to make ends meet on fixed or low incomes paying top dollar for everything because they couldn’t travel to a competative marketplace. He simply brought options to the small towns. Had those small business you referenced been doing a great job of servicing their customers, would Wal-Mart have had a chance? Early on, the elderly on Social Security, the young families with children all flocked to the stores with the circular in hand, because they could afford to buy more. In addition, Sam and the company have built hundreds small businesses into thriving successful operations who offer employment to those same customers, as well as employing 1.3 million American’s themselves.
Now, consider this. WalMart no longer has Sam Walton running it.The ‘family life’ has disappeared. Not too long ago, Hilary Clinton was on the board running things. Alot of what you see now is how she helped ‘improve’ this business. Now don’t you think she does a good job of running things. We really need more of this. Or do you possibly feel that it’s really a good situation. We just didn’t know Ms. Clinton helped create it? Think on this for alittle while.
One person commented some time back that, “Coporations [sic] were originally chartered to serve the people…” Nonsense! The purpose of a corporation is to serve the interests of the person(s) forming the corporation, whether it be for asset protection (the original purpose) or tax advantages.
This same person lamented, “Democracy is failing.” Let’s hope so. “Democracy,” at its base, is nothing more than mob rule; “two wolves and a lamb voting on what’s for dinner,” as one writer once observed. The United States were never supposed to be a democracy. The Founders loathed democracy as a form of government. Indeed, the word appears nowhere in any of our founding documents. The fact that most people today are enthralled with “democracy” demonstrates just how ignorant the populace has become.
As a former small businesman,I have never stepped foot into a Walmart. The reason being Sam’s philiosophy. It was his desire to get rid of the individuals business and overtake all the business in and area by beating the small business locally.
I don’t like that idea. Therefore, I have never stepped inside a Walmart yet,
While it’s true about marketplace and all, our “marketplace” reward some type of skills and not the others. In our society we reward merchants, entertainers and speculators too much and don’t reward mothers and warriors.
I love walmart. If everything is cheap, then who cares if they abuse their employees.
I stopped shopping at Wal-Mart because I can’t stand the horrible service, flimsy clothes and questionable food. I’d rather spend more for food and clothes but know I’m supporting fair prices for the people and companies who produce the things I buy.
Coporations were originally chartered to serve the people not rule the country and soon the world. Democracy is failing. We are becoming slaves.
Why is it that those of you filled with so much envy, believe that one cannot move ahead financially. Or is the problem that you don’t want to make the effort? There is more opportunity out there than any one person can take advantage of. It takes preparation, planning and perserverance. However, I guess complaining is easier.
I worked with Wal-Mart for 9 years and while they may be a corporate giant now they will not be forever. What brought them to the top, Sam Walton’s values and beliefs no longer, and haven’t for a while now exist in that corporation. Customers and employees are realizing that the corporation does not, and has not for quite some time care about them. The “big happy family” mentality that they profess is false and has been for quite some time. Like with most corporations they care about the almighty dollar and that is all they care about, they have put their employees and customers in harms way more than they will admit and it should be brought to light.
Ah, America-
If you don’t have ‘it’ (the money, house, car, etc.) then wine loudly, put your faith in a political party built on the premise that the government knows better and will take care of you looking out for your interests, and that ‘taxing the rich’ is the solution (at least in slogan) to everything whilst building on an ‘us vs. them’ theme ( exploiting and promoting a social class division in society) and creating hype about environmental issues - all the while whilst being a party of millionaires and living in large fule inefficient houses and touring the country and world in corporate jets)…
or
If you do have ‘it’, see the solution as putting your faith in a political party which claims it is against ‘big government’ (yet never seems to reduce the size of it when in power and spends billions on manufactured wars) and hides behind false slogans of morality and compassion ( creating and exploiting a different kind of hate of ‘us vs. them’ 
and displaying arrogance and ignorance in foreign affairs around the world….
When will America grow up and realize its time for new parties or disolution of the party system ?
Whether to have a free market is not an either/or proposition. The unconstrained free market of Victorian Britain (no or few wage guarantees and safety standards) led to horrific working conditions and poverty. The working class is doing much better now and we would never want to go back to Victorian Britain. The question is whether we have progressed enough or not.
Similarly, the rampant corruption of politicians in the Tammany Hall / Teapot Dome era led to politicians being in the pocket of industry. We don’t want to go back to that era either. The question is whether there is more to be done.
As of this year, I do make six figures (and in Canada that’s currently worth more than six figures in the US). Is my labour per hour really worth four times the labour of the people working at the doughnut shop where I get my late-night snacks? It’s what the market currently says it’s worth — but who says the market is perfect now? The market wasn’t perfect in Victorian Britain.
I don’t know who deserves six figures, but I know that everyone deserves good health care, good nutrition and the chance of getting a good education — not only those lucky enough to be born with a silver spoon in their mouths, and not only those who were lucky enough to be born with tremendous natural talents that help them transcend poverty.
It appears to me that many of these working class comments are driven by clear jealousy. Such comments like, “those employees who made over $100,000 should start sending out new resumees.” This is not a socialistic state. It is more than clear that someone who makes a comment like that is ignorant of the capitalistic nature of our country, and clearly failed to succeed in our market. Of course corruption is present in many of the large corporations and companies, but there are plenty of dedicated individuals who worked hard to get to where they are with their companies.
One thing alot of these comments seem to have in common is the romantic idea of the “mom and pop” stores that corporations such as Walmart have run out. And to those people, I say this: Every business started at the bottom. It started with a few people with an idea and the motivation to carry it out. Do not criticize these members of society because they are more successful than you.
Amanda’s comments confirm the fact that the basics of how money and capitalism work are no longer taught well in our schools. Nobody “deserves” a six-figure salary because of privilege or “lucky” extended education. (Aside: Anyone capable of doing college-level work but lacking the financial means can get into any number of colleges all around the nation through grants, scholarships and other forms of financial aid.) The marketplace determines the value of our labor, not some despot’s opinion of what their labor is worth. If you don’t like the marketplace, move to another country run by a dictator or central committee you happen to favor. But keep in mind that communism, national socialism, and other tyrannical regimes through history have the blood of millions and millions of people on their hands.
“…it is true that most americans are undereducated and under paid, yet who would scrub your toilets and clean your dust bunnies out under your bed…” - Posted By amanda in illinois
I do not look down on the working class. I always treat the help with the utmost respect. That is why I encourage younger people to stop stressing out about college and learn how to cook food, wash cars, shine shoes, clean toilets, drive people around town, do dry cleaning, learn how to move furniture, and perform other tasks that seem menial. Higher education is not for everyone and learning a valuable trade or service job helps to keep society running. There is no such thing as a menial job.
Everytime my maid cleans my house and washes my clothes, I tell her “good job”.
Everytime my butler takes me to a meeting in my BMW 745, I say “good job”.
Everytime a waiter at a restaurant brings me my steak and lobster, I say “good job”.
Everytime I get a massage, I tell the person “good job”.
Good help is so hard to find.
In respond to Jayson’s comments, it is true that most americans are undereducated and under paid, yet who would scrub your toilets and clean your dust bunnies out under your bed Jayson, if not for the working class. You are not so special in this big picture called life just because you were lucky enough to have an extended education. These working class morons or so you call us, are the majority, not the overpaid pompous pigs like you. I am sure you have convinced yourself that you deserve the six figure a year job you have, or the $80,000 hummer you drive (which is ruining my environment by the way). You Jayson, deserve all these things though, right? YOU went to college 6 years, or YOU spent your time studying our world economics. YOU are what most greedy consumers are like, you think little of the poor, and highly of the aggressive alters or the atmosphere you ruin with your greed. Our very tiny voices ( in comparison to you) do have enough education to use a voting card in November. Maybe, Jayson, you and your fortune 500 company you work for, will be held responsible for it’s massive comsuming, and lack of giving back. Sincerely yours the working class
I don’t want to sound like an elitist snob, but just consider this for a moment.
About 90% of the people who leave disparaging comments about Walmart, complain about gas prices and call for the dissolution of petroleum manufacturers (all quite idiotic assertions, if I may be so bold) are those very working class, $8.25/hour individuals who have not had enough education to even grasp the most basic concepts about our economy and what select factors have a huge impact on it.
Yes, the truth hurts, but it’s true… and to see these people posting their hopelessly myopic and uneducated opinions is just sad. Really… if only a whole lot of you knew just what the heck you were talking about.
I’m British, and I understand that you may well feel that I shouldn’t be commenting on the size and scope of American companies, but as they operate in the UK as well, I can’t see the harm.
America was made great by your desire to succeed, now whist I fully appreciate the desire to have a conscience and fully support the concepts of supporting working and not allowing poverty, I can’t help feel that certain members of this forum are loosing their way with the much vaunted “American Dream”
The current economic success story of the last decade has been China. This has only happened due to them emulating America and her corporate ideals. Is this a good or a bad thing? Well that’s a matter for opinion. Personally, aside from the questionable environmental issues, most of us would agree that progress is a good thing. Proof of that being that we’re all reading this through the internet – something that would not be available had it not been for the huge multinationals that have the resources to invest in the infrastructure.
As for the social point that have been made regarding the treatment of workers in wall mart and so on, I’m lucky to live in a country with free unlimited health care to all, so perhaps cant grasp the conditions and experiences that you refer to, but having visited a Wall Mart on a recent trip to the States, I have to admit that it isn’t the most pleasant experience of my vacation, yet served a purpose and I got my Twinkie without a problem. Brilliant! (that’s irony before you all respond, not sure how well it translates in text format!)
Anyway, that’s my two cents…
I used to work for JP Morgan Chase and I’ve worked for one or two of companies on this list. I’ve seen little or no decent management, the waste is tremendous, and yet the employees work hard for next to no recognition.
Yet, the management uses terms like “managing employees out of the organization” to support their forced rankings policy at Chase, and to avoid the media hit from an actual layoff. Instead they force rank 10% of their employees into the low rank hoping they’ll just quit. If they don’t, they’ll terminated them for an invented cause the next review period. Yet the management gives themselves bloated raises and incentive bonuses, while giving little or nothing to the employees who keep the company running.
The management at Chase actually brags about buying $60,000+ vehicles for cash with their bonuses, and how with all the people they’ve forced out, how much more money they’ll see in their raises. Yet the executive management seems baffled as to why the task level employees don’t trust them enough to tell them why they’re not happy. Gee. I wonder.
Yes, these are Fortune 500 companies, but that doesn’t mean they are good places to work for you and I. Every company needs to make a profit, but not at the expense of the employees who actually DO the work.
I rarely shop in Walmart, preferring Target. The only draw to Walmart was American made products, and decent quality. Apparently, that all died with Sam Walton. I’d rather pay a little more at Target, and get better service and quality. Now that Walmart is closing down all their fabric departments, I have no reason to go there ever.
I’ve worked for several of these Fortune 500 companies, and I have to tell you…I’m not impressed. It seems the larger they are, the worse the management is. Recently, a Fortune 50 senior manager was overheard to say to his subordinate, that he needed “to put more pressure on your employees to find out who the diamonds are.” Excuse me? What am I? Coal? Carbon-based organic life, yes. Fuel source..no. This is in keeping with the “managing people out of the organization” philosophy and “Forced ranking” policies.
Frankly, I’m considering opting out of corporate America entirely. These are vicious, soulless people with no sense of humanity or community. Donating money doesn’t make them good employers or people I care to do business with. There are tax write-offs and media hype for every good deed, and don’t think there’s any other reason it happens.
Bank of America: It is no suprise that the tiltle of this company has brought on the company’s success. However, over the pass two years Bank of American have demonstrated non professional horrid customer service. One would think that a company that ranks # 2 in gross intake of profit would invest in adequate training and staffing to service the customer.One must not forget that it is the customer that positions a company. Speak out.
Walmart, Walmart, Walmart. OK, now that that is out of the way let me say as much as I could complain about the super-sizing of U.S. retailing I’ll be the first to tell you if it’s 9 p.m. and I need a widget in hardware I have few choices and all are big box stores. Mom and Pop hardware stores aside I can inform you that for groceries at least, profits are razor thin. For everything
else - coming from China - I could explain why ‘globalization’ and IT will continue to remake life as we know it but I think it would be lost among most here.
Lois (5/2, Seattle) thinks if you’ve been on the job for two years you’re coasting. Well, maybe a chef doesn’t learn many new tricks but he’s still earning a buck. Personally, I’ve been at my position ( IT ) for two years and I’ve barely scratched the surface of complexities. So maybe try thinking about expanding your menu.
As far as Exxon-Mobile goes let me ask if anyone knows ANYTHING about economics? I see a few hands in the back. OK, so in the late ’90’s when prices were comparatively at record lows no one thought that might be cyclical? In part I blame Madison Avenue but I also realize safety has become a key concern (in vehicle design). On the other hand I do wish the number of models Detroit has produced in oh, 20 years, that interest me could be counted on more than one extremity.
In the bigger picture however: I would agree that some CEO pay is indicative of larger issues facing this country. My grandfather griped about money-hungry lawyers but while GREED is an acceptable fact of life today it wasn’t always so. I’m not talking about the market, I’m talking about golden parachutes, blank checks and back room deals. I’m talking about
collusion. I’m talking about swindling. I’ve seen it, you’ve seen it and anyone who’s held stock in a company that’s been impacted by it would not shrug it off. As in ‘the apple is rotten baby, so take a big bite.’
While people like Brian (4/17, Atlanta) might like to think no taxes would be paid save for the largess of corporations and their employees let me remind you while most companies do pay taxes some large corporations pay zero taxes consistently. What gives? When entities such as Fannie Mae are under investigation, when hedge funds and LBO’s rule the day, when the stock
market is going private we are in an environment where the foxes are guarding the henhouse. Where government oversight of fair play or quality is, to a certain extent, a sheen covering the exploitation of the common good. Wait until the next national meltdown on the order of the S&L’s.
But let’s not forget the many triumphs that took tremendous effort in this singular country. At some level we cannot look out only for ourselves. We do have common interests whether it’s transportation, inflation, health, safety or international trade. My thoughts turn to the laws on the books, congress and the allocation of funds to enforce such laws.
This is in response to Dan Farnkoff’s comment.
You obviously understand nothing about economics or oil companies. A gallon of milk costs the same as a gallon of gas. Do you have any idea how much more money and investment goes into processing that gas than a gallon of milk? Why aren’t you whining about that? Have you also not looked into inflation? Gas has inflated VERY little over the past 20 years in comparison to other essential products. It is uninformed people like yourself whining about a problem you don’t understand which creates “big oil paranoia”. I happen to work for an oil company. I understand the inside dynamics of it. My company, Chevron, reinvested more this year than it earned last year. Several billion went into bio-fuel and alternative fuel research. Chevron does not set the price of a barrel of crude oil. The market does. Supply and demand is a very simple concept to understand. As supply decreses and demand increases, the prince will increase, pure and simple, regardless of the product in question. If you want to be mad at anyone, be mad at pharmaceutical companies who make over $.30 on the dollar. That’s 3 times what Chevron does.
Re: companies paying taxes:
Companies don’t pay taxes, you the consumer and you the stockholder do. Sure, the check may be written from Wal-Mart or Exxon to the Treasury, but the money actually comes out of your pockets in the form of higher prices and lower profits for shareholders.
By “making companies pay their fair share of taxes” you are only taking money out of your own pocket.
To all of you who champion the “free market” we have here in America, listen up… The government bears the cost of health care for the Walmart Worker that does not have insurance. Someone has to stock shelves so that you can shop there, the question is do you the government to spend tax dollars on health care for the poor or would you prefer Walmart to do that? Higher taxes or higher priced goods? I will take higher priced goods every time, I can spend less but I have to pay my taxes. Also did you know that Wlamart recieves tremndous tax breaks to enter a community? Who pays for those “tax breaks”- you and me. I prefer all companies pay their share of taxes JUST LIKE ME…
Does anyone look at how Local, State, and Ferderal Gov’t play a role? They make more than the collectve sum of the producers thru retailers. Not to mention considerable useless fuel blend requirements. I think the extremely biased media is working. Blame big Business when Big ineffective Gov’t is at a minimum the larger problem.
It is true. We can shop in whatever department or grocery stores we like or do not like. We choose to shop there because of selection, price or whatever the case may be.
We, as consumers, don’t have that luxury when it comes to gasoline prices. There is no K-Mart versus Macy’s price comparison when it comes purchasing gas. That is because nearly every form of transportation, whether it’s public or private DEPENDS upon the NEED for gasoline. And when the oil companies know that we DEPEND upon and NEED gasoline they will continue to rape consumers who will, in the near future, be shelling out $4.00/gallon for gasoline - something needs to be done!
Do these companies really believe that the American people actually “buy” the excuses of rising gas prices to the cost of converting to alternative fuels, or refinery accidents/fires? What’s the saying, “If you do, I have swamp land in Florida for sale.” Give me a break!
I don’t buy it, not when I see headlines such as, “This year, the oil giant [Uh yes, that would be Exxon Mobil] remains the most profitable company in the Fortune 500, with $39.5 billion in 2006 earnings, thanks to record crude oil prices in 2006.” - We paid those profits from our own hard earned money at the pump. Where does that leave the rest of us? Digging deeper into our pockets this year, so they can post even bigger profits next year.
I am not saying that people who work hard do not deserve what they earn, but when consumers are being raped by the oil companies because they know we depend on their product and then brag about the profits, it disgusts me to no end.
Regarding Walmart, Jason’s excuse that there are no other stores in Athens, TX is about the poorest one I’ve ever heard. Of course there are other stores besides Walmart you can shop at if you really wanted to, either online or bricks and mortar stores.
Regarding Exxon, when they pay their judgement for the Valdez spill from almost 20 years ago, instead of continuing to fight it in court, maybe I’ll consider giving them some of my business.
Regarding the rest of the gas companies and gas prices, the government, if anything, should raise taxes on gas. Until gas prices stay high enough for long enough, no real change will be made in people’s driving habits. Prices go up and demand stays the same…people keep driving regardless of the price.
FOR ALL THE PEOPLE THAT ARE TALKING ABOUT WALMART:
It is amazing that you only see the tip of the Iceberg, While you are worried about the hourly wages that Walmart employees are paid (which is important), you are all forgeting the even more important topic about how Walmart is making traditional businesses to go bankrupt. Yes I am talking about little retail stores, photo studios, drugstores, etc, and all the traditional businesses own by a private owner or a family or any that is not a Nation Wide Franchise as Walmart is. I recommend you all to watch the movie: ‘Walmart: The High Cost Of Low Price” (http://www.walmartmovie.com/).
I am defending Exxon mobile. Should exxon mobile give back the profits that they earned? If you think so, let me ask you guys this: In 1998 Bill Clinton administration had a $70 billion surplus. “Surplus”. Who many of you Exxon Bashers were begging for your share of that $70 billion, which you were actually entitled to! Exxon -Mobile earned their profits the same way Wal-Mart, Berkshire, Kroger, or any of the thousands of mom & pop, inc’s. in the USA. They’ve earned your money because you made the decision to spend you money with that firm. The goverment simply takes your money. And if they take to much, they have a surplus. A profit. Our governement should never have a profit with our money.
I find it hard to understand why some of the people who add their comments to this page think that CEO’s do not deserve the money that they earn. A number of the “Publically” held companies are not 100% owned by the public. Some companies have a large sector of shareholders while some companies have a very small number of shareholders with the owner or founder owning 80% or more of the shares. If you own a signifcant portion of a company, and you think you can hire a CEO to run the company better, then that is what you will do. But, you get what you pay for. You buy cheap toilet paper, you’ll be cleaning brown corn from hands. Try telling the board of directors at Microsoft that they have only $100k to hire a competent CEO to run a multi billion dollar firm.
to all those defending exxon mobil, i point this out-
what company has the most profit of all the oil companies? exxon mobil.
when i drive ANYWHERE in new york state, of the 5 or 6 different gas stations i see in any town or city, which always charges 3 or 4 more cents/gallon more than the others? mobil stations.
Every time I go to Wal-Mart, about once a week, I see several disabled Wal-Mart employees. There’s no other business that I visit regularly where I see so many disabled employees. Wal-Mart pays its employees low wages, because those low wages are commensurate to the employees qualifications. Fast food restaurants pay their employees low wages for the same reason. If McDonald’s employees made $20 an hour, then our Value Meal #1 would cost $20. It makes sense to me. I respect Wal-Mart’s “Going Green” inititaves, because when Wal-Mart makes a big decision, many more companies follow. Wal-Mart is an innovator. (In 1987, K-Mart was twice the size of Wal-Mart. Ask a former K-Mart employee how his or her career turned out because of K-Mart’s poor leadership and lack of innovation.) Wal-Mart is not creating the a new class of poverty; attribute that to today’s lack of parenting.
As a business owner and besides investing, what kind of business has the highest ROI, fewest employees to manage, and least investment?
I am thinking about selling my existing business and starting another one.
I don’t care that much about Wal-Mart. It stinks. For years the Wal-Mart next to where I live stunk. The lines take forever. Target is a much better place.
So many of these letters are whining about Wal-Mart. If it’s such a bad place, how did they get to be number 1? They must be doing something right. I agree with all the people who said, if you don’t like it, don’t work or shop there. But be grateful you have a job, be grateful you have gained the experience to work somewhere else. And since when is it all right to stay in the same place for years and years? When I was starting out in the food industry, a chef I interviewed with said that if a person has more than about 2 years at a restaurant, they are no longer learning but simply repeating what they have learned. The same holds true for anywhere you work. Unless you are moving up the chain of command, after 2 years you have learned (or should have learned) all there is to know about your position and you should be moving up or out. If you don’t, you don’t have 5 years of experience you have 2 years experience and 3 years of repetition that doesn’t count. So if you are in the same job for years on end, you’re stagnating. Get out there and learn something new. It will help your self esteem and your future. And make you less inclined to whine about the ills you think you have. Life is what you make. Evidently Wal-mart has made it good.
My husband worked at Wal-Mart for 5 years and then left due to a poorly managed restructuring. People feel that management is making large amounts of money. The truth is assistant managers are run ragged. When you break down their salary based on the hours that they work it is not that much more than someone working the checkout stand. Store managers do make more money but, they work even more hours than an assitant and it makes it very difficult to spend time with their families. However, many of the employees really love their job and take pride in it. That is the bread and butter of Wal-Mart, the employees. As far as the customer service, you will not believe how rude and nasty Wal-Mart customers are so it is not surprising that employees can be on edge. Many customers feel that Wal-Mart is required to take any return that they bring in because the customer is always right. They will throw a FIT just to get their way. You tell me if you could handle that day in and day out.
Even though my husband lost his job we still shop there. Why? Where else can you find so many goods for such a low price? It is true that Wal-Mart helps a community. Often a Wal-Mart is built and strip malls and other big box stores pop up near by. These places are not only bringing jobs to the community but they pay taxes to the community. These taxes help to decrease the impact on the communities residents. If you have a Wal-Mart in your community you are probably paying less taxes because of it. Also, Wal-Mart donates a lot of money to the communities that they are in. They set up scolarship programs and have volunteer opportunities for their employees. Wal-Mart also helps the community by allowing groups to fundraise on their property with events such as cookouts and selling of Boy Scout popcorn and Girl Scout cookies.
My final statement is this: Wal-Mart’s target demographic is NOT the middle or upper middle class. The people who need to shop there are closer to poverty level. This is a place where they can go and spend less on groceries, toys, health care products and so much more. Shopping there may be the difference in their budget. They will be able to provide more to their families and feel like productive members of society. The pressure that Wal-Mart puts on their suppliers is so that they can help these low income people. They aren’t doing it so that they can turn a profit, because so many of you have pointed out how little profit they make, they are doing it so these families are able to keep providing for their families. So I will repeat what so many here have said…
If you do not like Wal-Mart or it’s business practices do not shop there. I am sick of all the complaining if you don’t like it STOP! You are probably one of the lucky one’s that have a choice in where you can shop. You can afford to stand up for your ideals. Many people see Wa-Mart as their saving grace as they don’t have to feel such a financial strain.
Exxon working on newer, cleaner types of fuel is an ad campaign. The majority of the money they recieve is either to pay exorbant prices for oil due to our military conflicts in the Middle East, line the pockets of their Board of Execs and to acquire exceptional lobbiest representation to make sure that they’re actions are never questioned. Despite it’s minority prejudices and labor abuses when compared to Exxon/Mobile Walmart looks like a fine company.
Regarding XOM:
(1) The major share of XOM profits are “upstream” (exploration for and production of gas and oil) rather than “downstream” (refining and marketing of all products).
(2) Well over half of the profits of XOM are from outside the U. S.
(3) Their profits from natural gas exceed those from crude oil. For quite a number of years there was a “gas bubble” in the U. S (more natural gas was produced than demanded). That’s gone and XOM is investing heavily in very large refrigerated ships to move super cold “LNG” from overseas to the U. S. to meet demands.
(4) The petroleum-natural gas business is very “capital intensive”—huge investments are required years before any profits result. XOM is now profiting from oil and gas “discovered” many years ago (at much lower costs than now).
(5) XOM is the largest U. S investor-owned “oil company,” but huge foreign-owned companies (some government controlled) supply a large, and increasing amount of U. S. demand.
(6) XOM is not the largest oil refiner in the U. S. That “honor” belongs to Valero, a company also in the Forbes list. They have purchased refineries no longer wanted by “majors” including refineries at Paulsboro, NJ and Benicia, CA from XOM. XOM also sold their refinery at Bayway (Linden), NJ. Stations with the name Valero are just beginning to show up in my area but they supply many of the convenience stores and grocery retailers.
Is anyone surprised that Hewlett-Packard I ahead if IBM?
So what does everyone think now that Walmart is the largest corporation in the world??? What kind of professional and technical jobs does Walmart provide to the world? I would rather have Exxon working on gas and oil research than Walmart producing cheap goods that are discarded and thrown in landfills.
I worked for 3M and when I worked there for 31 year I held seven technical and three supervisory positions. Then the company made a person my manager with the background of 12 yrs as a elementary school teacher, supervisor of a help desk that he wouldn’t be qualified for at any other company, dept head, and manager, and that is why I am qualified to be a CEO. I left the company in my 39th yr of service.
I am fascinated by the concept that an employee who works for a company in the same job and capacity for 25 years should get a raise every year.
If that were true, then all the secretaries in this country would stay at their jobs for 25 years and be making $200,000 a year by then.
Companies that pay $8 an hour consider these positions to be “entry-level” jobs. The concept here is that the company expects you to be motivated to want to increase your skill set to increase your value to the company and move up.
This might require an employee to take on night classes or additional course work outside of their job (heaven forbid!).
I am amazed that there are so many out there who think that just because they work for a company for 15-20 years means they should be earning an executive level salary for having made a commitment to what amounts to “retiring” on the job.
Stop whining. Instead try applying yourself and upgrading your skills for your own and your company’s benefit. Then see how fast your pay rate changes.
hey Brian. Have you ever lived in a country where a socialist government ISN’T being run by a crooked, tyranical government? You used the example of Russia but I lived in Norway for over two years and I can tell you it’s comfortable…very comfortable. You seem to think there is no class distinction in socialist countries and that is false. Doctors and lawyers still make an obscene amount, just not 8 digits obscene.
you wrote “There is business and there are still corporate ethics”
go rent “the corporation” if you’d like more insight on corporate ethics.
I work for a Refining Company - If you have owned and driven a SUV or other big vehicle for the last couple of years - thanks a lot, those of you who drive low mpg vehicles keep sucking up the gas and the refineries will keep sucking up your money.
I worked for Nike IT. Nike is fortunate to have a strong business and marketing group to pay for the bills and expensive mis steps of their IT arm. I belieeve Nike executive have no idea how much waste and loss is due to incompetent IT management, inefficient functional fragmentation and a sophiticated team cover up process. The image I have of Nike IT is a group of repressed employees, well trained (by the management culture) to just align, nod and say yes.
The campus is a paradise. Nike has great HR policy but a zoo is a zoo. Beautiful but caged nonethless…
Dear Aaron from Chicago
Good numbers, but you’re going the wrong way. The problem is that fossil fuel consumption is too high, fuel taxes need to be INCREASED (decreasing volume would decrease profits). Oh yea, and while we’re raising fuel taxes, can we get the AMT & Amtrak fixed? (please)
Stop whining about XOM’s hefty profit and do something about it! Instead of buying a mongo SUV, get a Prius, buy (less) gasoline from someone else, and use your hybrid vehicle tax credit to go greener. Exxon isn’t the cheapest gas in town, so why buy it ?
For those of you complaining about XOM (I have no relation whatsoever with that company at all), the reason they can increase their profit is due to better refining processes. The oil barrel price for the highest quality oil is given by the market, so the oil companies can only compite in refining technology (refining lower/cheaper quality oil to the highest standard). The better your technology is the higher your profit. You just do not understand the oil business at all! Also, the highest the profit is their investments in oil and non-oil energies are, which will reduce economy’s dependency on oil in the future.
Someone hit the nail on the head earlier with the question “should shelf stockers and cashiers be middle class”. I’m sure that’s not a popular statement as everyone seems to think they should be paid very well. “CEOs make too much” - “others should be paid a “living wage”. The idea that everyone should be middle class is socialistic - it doesn’t not work (ala Russia and the other communist / socialst experiments of modern times). In a capitalistic society some will make more, some less. Walmart does not force their employees to work there. If the wages are not good enough/competitive - go work somewhere else that pays more. Oops - there aren’t many places that pay more for the skills offerred. Fair market pay for fair market value. When enough people leave they will be forced to pay more. Again - fair market pay for far market value.
10% profit is not out of line. I hate spending so much at the gas pump, but don’t begrudge a company 10% profit. How much do people think is fair - 1%? 2%?, 5%? Remember - you can get more than that investing passively (banks, etc). They have spent hundreds of billions on infrastructure, gambled billions on exploration - surely they deserve more than what they could earn investing at a bank or loaning the money for that.
Liberals seem to think ‘corporate profits are bad’. Remember - without them NONE of us would have jobs. No taxes would be paid. Nothing could exist as we know it in America.
Wake up folks….Walmart makes tons of money because it sells things cheaper then everyone else. If you don’t like Walmart dont shop there. Go to your local stores. When you get tired of wasting money go back to Walmart and thank them for saving you money everytime you shop there.
Those of you who KEEP posting that people who don’t like to shop or work at Wal-Mart should just stop shopping or quit. Let’s explore ONE simple concept: Reality.
There is a reason Paris Hilton and her sidekick didn’t know what Wal-Mart was… not just because they are filthy rich, but because Wal-Mart targets and exploits RURAL AMERICA. Most people that work and shop at Wal-Mart in these towns DO NOT HAVE A CHOICE to go anywhere else.
It’s easy for you to say, “if you don’t like it, just quit” when you don’t understand the reality of the situation.
Wal-Mart ALSO started their business model with a pricing plan to go into these towns and undercut the local businesses because they could afford to operate in the red. Then when the average $50K a year business owner goes under, Wal-Mart can then increase their prices AND say what a great employer they are because they provide poverty level jobs in these communities.
Just take a look at many of the small towns around Oklahoma, Texas, and Arkansas that Wal-Mart (and often the SuperCenter’s) moved into… how many of those are half ghost towns now and then Wal-Mart moved out or moved on to bigger and better things once they were done.
Why do you think they have such a booming corporate real estate division? They have to manage all of the empty buildings they abandon because they refuse to sell.
There is business and there are still corporate ethics. Combine that with the way they treat their vendor’s and suppliers (i.e. Vlasic pickles and their jumbo jars, read up on that if you care to) is the bully tactic… “thou shalt do as I say because I’m your biggest customer, and if you can’t continue to meet my demands, then I will boycott your product and/or can buy you out in XX years.”
Excuse me? No thank you.
Fortunately, I no longer live in the rural community and I DID make the choice not to shop there. I was even heavily recruited by a headhunter for one of their regional HR Manager positions - now that they are finally wising up to the fact that for stores that large, you DO need an HR presence, and I told the Headhunter, not just no, but Hell no.
Exxon’s profit margin is nothing compared to Microsoft. Maybe you should complain about Microsoft gouging.
If you hate Wal-mart then shut up and go to Target. If Wal-Mart starts offering medical insurance to their employee then their prices will go up and it will become “Target 2″. Is that what you all want?
If you don’t like pay or you don’t like the benefits (or lack there of), get a job somewhere else. No one is forcing you to work at Wal-Mart. Maybe if people put as much effort into educating themselves as they do into complaining about what they don’t have, they wouldn’t have to complain!
I worked at Wal Mart for 2 years and they kept giving me the most minimum raise they can give me…New associates came in making 75 cents more than me. I quit and started working for Waste Management who pays low but they actually paid me 2 times in one week than what I made in a paycheck at Wal Mart which they pay every two weeks.
To JD from Scott Depot,
What an ignorant juvenile outburst. If you had parents who loved you and raised you, and if you went to public primary and secondary school, and if you enjoyed the protection that our tax-funded army and police force provide in your community, then you are ALREADY a product of the system. You have ALREADY benefitted from the “socialist” programs that our government provides to “take care of you”. How about this: Stop your posturing and actually “get to the top” before you start flapping your gums about how superior you are.
Do you know why the wealthy give so much back to their communities? It is because they recognize that our civilized, structured society is what enabled them to succeed in the first place. Maybe if you “get to the top” you’ll realize that.
The world is full of potential to reward individuals who work hard. But others who are not driven to “get ahead” (like you are), who just want to do their jobs and go home without worrying about “advancing” in the rat race — those people deserve basic things like health care and enough money to feed their family and put a roof over their head. You might not agree, but the vast majority does. That is why we have government assistance programs.
I work at XOM and it is a great place to work , i like their savings plan . They give a poor person like myself to work and save tons of money to take care of one self in old age .
Look, you can’t defend Exxon ?? Their sales were up 2% and their profits were up 9%. My platic cups still cost the same, it’s my tank of gas that costs more!!! They have increased their profit margin on gasoline, and they could care less if we know, because they are colluding with the rest of the oil companies. The oil companies pulled this crap about 100 years ago, and we passed anti-trust laws to prevent it in the future. But who do you think got George W elected? Big business. You think he cares if Exxon (and others) are fixing prices? No he doesn’t.
worked for Wal-Mart for 18 years and just quit last fall. It was a great company until around 2004. They began to promote people based on gender and race rather than on attitude and ability. This diluted the culture and made the morale very bad. They forgot as a company what made them good- low prices, great service and most of all pride, both in what they offered and in their associates. Then they tried to be something they will never be and should not try to be- Target. I blame Lee Scott. If I had run my department with flat sales I would have been moved out. Yet he runs that huge company with flat stock prices, unhappy people in the stores, no direction and still he stays. How? I think 2004 was the beginning of the end of the company I loved. I left because I know that when you cap people’s wages-they capped most of us long termers- I would never have gotten another raise- they have no incentive. Indivdual acheivement built that company- lack of it is killing it. You don’t draw acheivers with mediocrity at the helm.
I’ve worked for Wal-Mart for 6 years, and yes they need to treat there employes better. To comment on one ladies comment,the only reason stuff keeps going up is because people keep bringing stuff back that they should not be bringing back.
If you have eyes ,..open them,..if you have any mental capacity use some not much is needed. Wal-Mart is one of the world’s largest Co. and at the top level. They generate billions of dollars and make very little profit. They have thousands of people line up for jos there when openning a new store. People don’t line up for lumps of coal to put in their stockings at Christmas, and people at Wal=Mart do have benefits, affordable insurance and job security, they in turn create many opportunities for others because they spend money on other segments of the economy. How about Katrina, where was the government (Tax Dollars At Work) Walmart was there first with trucks of relief that was laoded ready to roll before the storm hit the coast!
Wake up America sleepy heads Walmart is real and REALLY WICKED GOOD!
Alex Boa,
Exxon maked 39.5 billion on 347.25 billion in sales. That means they make aboutt $0.1136 per $1 of revenue. Thats 11 CENTS per dollar of revenue. If we average this profit point across all of their products - were Exxon to turn into a not for profit charity tomorrow $3 a gallon gas would still cost somewhere in excess of $2.71! (dont forget a large chunk of the price of gas is tax, and the individual gas station owners also make some $ on the deal)
Would the ellimination of Exxon’s (or any other big oil company) profit translate inot any signifigant cost savings for the consumer at the pump? ABSOLUTLY NOT!
Wake up and smell the simple mathematics. Exxon takes in hundreds of billions of dollars because they deal in a market that involves huge sums of money. They proifit tens of billions of dollars because they make a SMALL premium from a HUGE number of sales.
I’ve worked for Target Corp for a while now. Their business is all about the customers. Everything we do as employees is about making “guests” have an enjoyable visit and come back. It’s an interesting company to work for to say the least. I have friends that work in walmart stores doing similar work to what I do. I make twice at Target, what they make at Walmart. It should be criminal. Do I shop at walmart? Yes. Target recently built stores near the Distribution Center I work for, and I plan on shopping there for things other than food (these stores don’t sell food.) But right now walmart is the only local grocery store where you can find the things you need/want. It’s dirty, crowded, and the employees won’t help you, but as long as they have the number of locations they have, they will continue to get business and make money.
Increasing employees’ pay and free health benefits for employees will not decrease profits, they will simply increase prices for consumers. WalMart, just like every other retailer, is a for-profit business, whether we like it or not.
Wal-Mart does NOT create poverty. When WalMart comes into a rural poverty stricken area, dozens of other businesses pop up all around. Wal-Mart actually HELPS the economic environment. Also, you can cure the bad service, living wage problem, and increase sales all in one stroke: offer a minimum wage + commission based pay to employees.
If Wal Mart associates are so unhappy, quit and go somewhere else. The unemployment rate is low- plenty of job opportunities. I have not shopped Wal Mart in 2 years, do not miss it, hated the bad customer service. I made a choice- not to shop there- liberals stop your complaining- if you do not agree with the company, do not shop there. America- ALL ABOUT CHOICE
Wal-Mart has grown on the sweat and labor of their under payed over worked emplooy’s and not illlegal but unethical practice’s. Let’s hope the public wakes up before we all are working for sub standard wages while paying for health care ect. for their people.
Wal-Mart is a bully. Their practices with suppliers is beyond questionable. They have told large companies in the past that if that particular company doesn’t sell them a certain item at the price WAL-MART wants, then WAL-MART won’t sell ANY of their products. This has been a statement made by several people that have worked with and for Wal-Mart. Why don’t I shop at Wal-Mart or Sams Club? Look at the top 10 wealthiest people in the world and notice how many of them are Waltons. Now look at how many people work in their stores make more than $8 an hour. It’s been proven that for every 100 $8/hr job Wal-Mart creates, it eliminates higher paying jobs of 120 in that same market. Anyone who would defend their practices obviously isn’t working there as a typical employee.
If Wal-Mart really wanted to help out the average US employee, the would build in a major downtown area. Last I checked, they had no stores in any major downtown location.
In reply to JD, Scott Depot WV - Amen and Amen! WalMart is doing what every other CEO in the list - making money. That’s why they are successful!
I work at Walmart and know that we pay more than Brookshires, Kroger, Target, or Albertsons does. I know this because I hire people that work at those companies because of the better pay scale. People who say we should pay more don’t realize Wal-mart only makes about 2.5 cents off every dollar they sell.
Check out the numbers on #2 Exxon and youll see they make almost 12% profit on sales.
For anyone who thinks $3 is a lot to pay for a gallon of gasoline… many of you pay $1.99 for a gallon of bottled water that is no higher in quality than the tap water from your kitchen sink. So in comparison, shouldn’t $3.00 for a gallon of automotive locomotion be a virtual bargain??
What’s funny is what people keep saying of oil companies’ profits, “don’t buy it if ytou don’t like it” and “the price must be market correct if demand is still so high” etc…what everyone fails to mention is that fuel is a nessesity, we no longer have a choice but to require it…demand cannot change unless automobile mfg’ing and fuel efficiency changes drastically. Therefore, I believe its immoral and unjustified to profit so highly from a people’s need. It’s not like “I’ll skip coffee today since money’s tight” and Starbuck’s profits dip…you can’t just say I won’t eat or I won’t go to work (its not like you can ride a bike 15 miles and public transportation isn’t available everywhere)…those things are necessities anymore in this day-and -age. Unscrupulous profiteers are stealing from the American public and getting away with it (and why not, the President is the leader or the pack). How can you say demand increased so much in a few years time, when for years before its been relatively stable?
Why else would a lying “oilman” President go to war for no apparent reason.
Hey whiners….most of you, given the opportunity for $$$, would go for it. Don’t blame others that are smarter or harder working than you (or both).
America and Capitalism….gotta love it!
I cannot help but notice the irony implicit in the arguments presented here. That being said, Wal-Mart and Exxon provide lucid examples of some very basic economic and financial principles.
Let us first examine Wal-Mart. Their product offering is generally considered to be for the budget-minded consumer, attracting buyers with highly competitive prices for less attractive goods, relatively speaking. In fact, Wal-Mart could be interpreted as a provider of inferior goods in many cases (ie, consumers purchase fewer goods for each additional $1 of income). As a result, the margin (profit per dollar sold) is very low, while volume is high. They rely on mass volume to generate profits. This sort of model clearly works, but it also restricts the company’s ability to increase costs that are sticky downward, especially labor. Labor costs, be it wages/benefits or number of employees, are easy to increase and very difficult to decrease. As a result, employers must be confident in their ability to meet any increase in their obligations both in good times and bad. Given the low margin nature of the business, if Wal-Mart grew their cost structure too quickly, they could easily find themselves in the red.
The true debate about Wal-Mart should hinge on social welfare. Since Pareto efficiency is generally unattainable (making someone better off without simultaneously making someone else worse off), we have to look at the aggregate impact of Wal-Mart on society. Due to their ability to achieve economies of scale, Wal-Mart provides items cheaper than they would be found elsewhere. This reduces the average consumer’s expenditures on many of the essential items they purchase. At the same time, Wal-Mart employs a massive number of people. Even if these people are not getting the ideal compensation package, they are still employed by a organization that simultaneously reduces their cost of living. Moreover, the benefactors of Wal-Mart’s success, in most cases, are large institutional investors – the same investors that manage the funds for your pension funds, retirement funds, mutual funds, etc. In other words, much of society is benefiting.
This same phenomenon applies to Exxon. The primary shareholders in Exxon are all large institutional investors (Vanguard, Fidelity, etc). This means that society is again the benefactor of the profitability of American companies. Executives and other insiders own a mere 0.15% of Exxon’s equity – which leaves every remaining dollar of share price appreciation and dividend in the hands of the retail and institutional investors. The profits not returned to shareholders are reinvested in the businesses, driving additional future development opportunities and even greater economic growth – not to mention investment in R&D for alternative fuel sources, as each of the major oil/energy companies are doing.
If you are concerned about the profit margin that Exxon has recorded, it is worth noting that the 11% margin they posted falls at the midpoint of the top 10 businesses on this list (GE: 12%, AIG: 12%, Citi: 14%, BofA: 18%). This makes it very difficult to criticize them for the nominal value of their profits, even ignoring the market dynamics of crude and refined oil. Additionally, I take issue with the use of after-tax profits outlined in this article. These numbers are significantly impacted by the interest and tax expenses, both of which are determined by the company’s debt/equity mix in their capital structure. This makes it impossible to make across the board comparisons (even though it is already impossible to compare the profitability of companies across industries).
Incentives matter. Who wants to create the incentive to shrink a business rather than grow it? Who wants to increase the cost of living for the masses? Who wants to erode the entrepreneurial spirit by indicating that achieving profit is condemnable? Who wants to continue to shift the appeal of doing business from the U.S. to abroad? If any of these potential realities are socially or individually optimal, then I will step aside and continue to witness the criticism of American business as we know it. Until then, I believe that we should praise the demonstrated prowess of American ingenuity, entrepreneurialism, and achievement.
This is absolutely ridiculous. If you work at Walmart and don’t like it, quit and get a better job. If you don’t want to buy E/M products, then quit buying them. Why does everyone feel like they have to get on a soapbox to whine about things that either a) don’t affect them, or b) they can’t do anything about anyway? Seriously people, the freedom of choice of where to work, where to shop, etc are inherent American rights and are threatened by people like you who believe that anytime someone or some company becomes successful they should be driven into the ground.
Walmart needs to update it’s clothing department more.
I worked at Wal-Mart for seven and a half years, I am neither uneducated, as some seem to think is a prerequisite for employment at wal-mart, nor am I one to spout praise where it is not due. Wal-Mart claims to care about their associates and over the course of my time there that changed. They, as some have previously mentioned, have unilaterally emplemented salary caps and “job codes” for all various jobs in their stores. This was done in the last 3 years. They succeeded in two things by doing this: 1) Curbing payroll, which, although they’d never needed to before, suddenly became vital to the future of the company and 2) Killing employee moral and making people quit their jobs at a rate previously unseen at a job that was already high turnober. I am no longer employed at Wal-Mart, nor does my family spend any money there. Soon, very soon, in the next few years due to the changes they implemented they will see even more career workers walk away. I know some think that’s no big deal, but think about what would happen at your job if everyone you turned to for years just walked away. It would be chaos. I hope Wal-Mart enjoys their stay at #1 and as an informed individual who knows exactly what has happened to workers at store level, I know their stay will be brief.
I dont understand, if you dont like working at Wal-Mart and think everything is sub-par then quit. Find another job, if you dont like the store or think they treat their employes badly then dont shop there. You have choices, make a choice and stop complaining. If things are really wrong and people dont work there or shop there Wal-Mart will have to make changes. You may have to drive a little farther to shop or leave home earlier to get to work but you always have a choice.
I worked at Wal-Mart during college 6 years ago. I currently work at a company in the top Fortune 35.
Wal-mart does not pay enough for the average person. It worked decently for me b/c of the hours but the pay/benefits were/are horrible. I understand they are a price leader and have all the power in the demand/supply chain but something has to give. Wal-mart is ruling the world and they pass their low prices/tight pockets on to their employees. Bottom line $6/hr should not be allowed with their profits. Spread the LOVE SAM !
I was an associate for Wal-Mart 6 years. I still shop at Wal-Mart. Why? Because I really don’t have any other choices in my town. The quality in service and products are low, and the attitude of the associates at our Wal-Mart is even lower. I will say that the upper crust in Wal-Mart know exactly what they are doing. Would I ever work for them again? No. In short, I would expect better things from a huge successful company like Wal-Mart, but that’s what money can do to people.
I agree if any company should be ranked number one it SHOULD NOT be Walmart they are a horrible place to shop if you want bad costumer service and badly stocked shelf’s and stuff made in China then shop there if you want quality experience were u get notice and u get help out to your car then shop at another supermarket i my self work for one of Walmart’s biggest threats (Publix) and we get better benefits then Walmart and better pay plus we are a privately own company majority own by its associates and have had 4 splits since 1969 and have less associates then Walmart but still offer better wages and lots of opportunities to move up. We offer better costumer service then other competitors i been in the same business for 7 years and with Publix for 6 years and 1 year at WD ( worst place to shop or work) and would not work anywhere else.
To Renee from Houston,
I do not have an issue with what you said except that plastic bottles are made from PET and XOM does not make PET. They make other plastics (like polypropylene and polyethylene) but not PET. Some of the raw materials that go into PET XOM makes. I know it is a small difference.
This is in response to Judy Craig:
You believe that an uneducated cashier should be paid enough to be in the American middle class? I agree with you that they need to make a livable wage, but you don’t have to be in the middle class to make a livable wage.
If Wal-mart would pay/provide the same benefits to each of their cashiers and door greeters tp be considered part of the American middle-class then they would no longer exist.
You socialists crack me up. Whaaaaaaa, CEO’s make money!
I’m young and even I understand that nobody needs to take care of me but me. I’m not going to rely on any other entity. If you think that the government should take care of us, then you’re already behind in the ballgame. I’ll see you from the top.
First, I don’t really have a real high opinion of either of these companies and frankly don’t buy products because I don’t appreciate their business model/philosophy, but I also don’t feel that they’re the devil.
I don’t think some of you guys understand the way the rankings work. Walmart is ranked number 1 because it collected the most amount of money, REVENUE. If you look at what they PROFITED off that money it is about $0.03 per dollar collected.
Second about Exxon, I don’t know exact numbers but alot of there money comes from oil exploration and development. They usually partner with a country or government run company to extract oil that is then sold to various entities.
If you really want some relief at the pump, write your Fed. and State lawmakers and ask to repeal/lower the direct sales tax AT THE PUMP.
Fed= $0.184 per gal (2005)
AVG. State = $0.22
Total=$0.42 per gal
In IL, we have $.484 in tax (2002)
Not to mention the various taxes on transporting oil from extraction to the pump.
If Wal-Mart was such a bad place to work, no one would work there. If it was a bad place to shop, no one would shop there. Many of the responders about Wal-mart here are misinformed. The reason for investing in a business is to make profit. I don’t believe people can be so naive.
Ask Mr George Bush Jr.
He once was an oilman, he probably still is.
EC
Good Post Renee from Houston. Everyone else seemed to forget (or doesn’t understand) that we live in a free market economy.
Alex Boa,
If you’ve noticed, demand for gas hasn’t dropped with the increase in price - so we were probably getting a bargain before and prices are more correct now. Simple economics.
Gas prices are still lower, when adjusted for inflation, than they were in the early 80’s.
Plus, as was pointed out in an earlier post, Exxon doesn’t make a huge profit MARGIN. The REVENUES are high because they have high volume - but they really don’t make excessive PROFIT for each dollar of sales. If you’re intelligent enough to appreciate the difference between Revenue, Margin and Profit, I’m sure you wouldn’t be so angry.
The mere fact that they have billions in revenue doesn’t make them a bad company, they are just a company that produces a product with very high demand. The only thing that’s wrong here is your ignorant view of Exxon’s top-line number and assuming a large company is an evil company.
There appears to be basic misunderstanding about Oil and Gas company profits and the price at the pump. Gasoline is a commodity traded on various markets. The individual oil company has very little control, if any at all, of the market price set for a gallon of gas. Just like the cost of a pound of sugar or coffee, the price of a gallon of gas is set by market forces. Or more simply put, supply and demand. If there is a shortage of gasoline due to high usage, the price goes up. If there is an abundance produced by refiners, the price goes down.
There seems to be an element out there that wants to continue the misunderstanding in order to sound important or have control over the more ignorant portion of our population.
I do work for Walmart and I say wake up America. If you want inexpensive, quality products with many choices, go to Walmart. If you want political correctness then bother the politicians, leave Walmart alone. The TRUTH is that a majority of workers have Walmart as a second job so that they can buy necessary healthcare for their families. Notice I didn’t say affordable, but that is NOT Walmart’s fault either Hilary.
This reply is for Judy in Virginia Beach. I understand your being concerned for the employees at Walmart, but at the end of the day - we’re talking about stocking shelves and running cash registers. It’s truly difficult to rationalize these jobs as middle class (economically speaking). If McDonald’s were #1 on the list, would you be offering up the same argument?
Hmmm. Imagine that, 3 of the top 5, oil companies.
I’ve worked at Home Depot before. Good pay, good benefits. Some people need to stop complaining and get out and get a job. Leave Walmart alone. They should do whatever it takes for them to make the most money.
If you don’t like Walmart, then don’t shop there or work there. There are plenty of regular people happy to shop and work there.
Wal-Mart does offer health coverage to employees after working there for a period of time. I talked with a man who had a liver transplant at Mayo and he said his Wal-Mart health insurance paid every penny. And he was just in a supervisory position, not management.Even if you offer people health insurance that doesn’t mean they will take it.
Walmart has become too low end of a store. Going into a Walmart is like going to the bad part of town.
Healthcare is this nation’s #1 biggest expense. Asking WalMart (or any employer) to pick up the healthcare tab is unfairly passing the buck to WalMart stockholders when it should belong to all taxpayers equally.
Ultimately it boils down to the fact that we as a compassionate enlightened society aren’t willing to let people die sick in our streets just because they choose not to work or choose not to pay for healthcare. It is still in our best interest to treat these people so they do not spread disease or die in the street.
If we shift the burden of healthcare to the employer, then only the employed are covered. The unemployed would have no healthcare venue for anything other than emergency care.
The person who said WalMart can not operate as a retailer if they are non-profit was correct. WalMart is in business to make money. However, ALL HEALTH INSURERS SHOULD BE NON-PROFIT. Otherwise there is good money to be made by denying or obstructing with red tape as many peoples’ medical treatments as possible. The conflict of interest that creates should be obvious.
That is why the burden of healthcare belongs at the government level. Public insurance is the only way to guarantee that greed does not obstruct good healthcare. Blaming WalMart is utterly misinformed.
To the comment about EXXON.
Then stop buying it. They get away with it cause you still pay for the “service”.
Once again the Jeffersonian anti-capitalists are at it again, complaining about the amount of money corporations are making. What’s good for the Fortune 100 IS good for America.
Demanding Wal-Mart change their business model is contrary to capitalism, and as much as liberals want to dismiss this theory-this is what makes America great-look at Socialism and France. Is this what you want?
Think of Wal-Mart as a stepping stone in the career path. Working at Wal-Mart should be part of the path, not the goal. The skills acquired there can be applied to more demanding jobs and eventually better pay.
I have worked for Wal~Mart and they are very caring company. It’s nice getting your shopping all done in one trip as well.
America, we can fix our problems if we hold ourselves and our politicians, accountable. Don’t complain about gas prices and drive out to eat at a restaurant several times a week. Don’t complain of huge profits from companies that we shop at and support. For damn sure, don’t go to work and do a half ass job and complain about our jobs going overseas, to people that haven’t lost their desire to make a better life through hard work. Our politicians are selling us out through lobbyists and self-interest groups, but we are allowing it by being complacent and pointing the finger. Pull your britches up, spit in your hands and get the job done to make this country great again. Nobody can make us feel inferior, unless we give them permission to make us feel that way. Write comments@whitehouse.gov and start taking part in your community and your nation. Otherwise, shut the hell up!